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This is meant to be a forum for the discussion of the stock market so let's do that. I'm interested in knowing what everyone is doing with their portfolios given the current market situation and the bad news around the globe that seems to be endless. Are you buying, selling or holding at this point? Personally, I think I was caught off-guard in the last few days by the volatility of the market and the rush from equities to the US dollar. I've been hoping for a bit of a bounce in which to sell some non-core stocks but that isn't happening today. Any comments?
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I managed to stay fearless. I've held onto all of my positions confidently because I know the businesses I own won't be affected by things like Greece defaulting. Don't get me wrong... the temptations to sell were definitely there while I saw my account drop. But, I'm confident that my research was solid and the companies that I hold will pull through. Some of my friends sold yesterday and today. Sadly, after today's closing, they might have sold at the bottom. -
Key word here is "hoping". And that's exactly what it is. Know and understand the current market and it's trend beforehand. Have a motive and a plan in place before you make any trade. And certainly have an entry, maximum loss you're willing to accept, and a target for exit in place before making any trade. If you can't fill those parameters with specific and realistic numbers then stay out of the market. Hope is for prayers and faith in God. Hoping and wishing in "trading stocks" does not work out.Originally posted by edward View PostTHE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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You can't fight the tape but fundamentals (earnings and revenues) will ultimately prevail. Just depends on your perspective.
Likening today's economic condition to 2008 is ludicrous. Right now there is just a lot of fear in the market. Just like the squirrels in the park, fear subsides over time when it's important to get a meal.
You saw big upside moves today in the the stocks of companies I like...(earnings and revenue growers like AAP, TQNT, NTES and TRCR)...so someone out there must think these are pretty cheap, relative to the rest of the market.=============================
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Buy when everyone else is selling. Sell when everyone else is buying.Comment
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Good advice. Were you selling when everyone else was buying?Originally posted by em26jamie View PostIt is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.Comment
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It's a matter of timing and market trend. To make a blanket statement to buy when others are selling or visa versa has no bearing on what is going to happen. And trying to determine when the "smart or big money" is selling is not going to happen because they are not unloading everything in one day. Their actions are over longer periods of time and that volume is spread out just to disguise and prevent the retail guys, like ourselves, from catching on to their game. When the volitaility is high like in todays markets it pays to stay out or to be so nimble as to get in and out quickly in specific spots. To do that you had better have a pretty solid entry, stop loss, and target or exit strategy in place and you had better be quite disciplined and in control of your emotions to do so otherwise you're going to get chewed up and spit out and end up broke or disillusioned and confused.Originally posted by Deaddog View PostTHE SKIRACER'S EDGE: MAKE THE EDGE IN YOUR FAVOR
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I'm mostly in cash, but am sitting on some nice realized gains for the year.
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I've heard this advice many times and I could never make any sense of it. Every trade includes a buyer and a seller. You'll always have the same number of people buying as there are people selling.Originally posted by em26jamie View Post
The thing that I've found which does give a major edge... buy after a series of down days. The days with really bad news and people think the world will end. Buy when you see lots of red everywhere, not just on your stock, but the whole market. You get a pretty good head start like this, but most people are too scared to pull the trigger when everything is red.Comment
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That's the sense of it. Buying when it goes way down. Usually a big down day. That means a lot of people are selling it. It usually bounces a little the next day due to bargain hunting. Same with those really big up days. They tend to drop a little with profit takers.
Skiracer is right on about being disciplined and in control of your emotions, and being nimble and having a plan.Comment
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