down 300+.... poor longs (fund, margin, cash, 401k)
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Anyone lucky enough to be at least somewhat in cash today?GM hasn't been here since Ike was pres.Citi at a 30 yr. low. Oil touched 140.Being active this year has kept me ahead of the indices , but not by much.Puts are costly, indicating further weakness.Anyone with a short term plan?
I moved lot of my mother's stuff out of equities a few months ago, but almost jumped in to buy a couple of times..I guess I will see what's shaking out in here in the next couple of weeks.
OTOH at work I am maxing out the 401K which is about 60% equities.
ugly day on the street, beautiful day for my portfolio. I'm sitting really pretty. I just wish I had a bigger % of my portfolio allocated to GTE. It was up 9%. My uranium stock was dragging on me (a quarter of my portfolio down 3.5%), but I was still up close to 2% on the day. DBA (agricultural etf) where the 2/3 of my portfolio is allocated to was up 2.6%. I'll be looking to add more to my uranium position and GTE next paycheck. GTE is one hot stock.
If only they'd let me open up a margin account. I could be a millionaire in five years.
Hey Texan.
If I had the guts to put my whole portfolio in Ag and energy, we'd both be in Laguna Vista playin Golf and or goin fishin but i always pull the reins too tight for safety. Not workin this year
I'm not in any index like the S&P at all, and don't plan to be for at least 3-5 years.
The S&P is now where it was in early '99, going on 9 years and a few months of no gains. There's still an awful lot of downside and mean reversion that's still likely.
And GM at a 50 year low. If you bought when it was the most powerful company in the world 30-40 years ago, you haven't even made the rate of inflation.
I think the same will happen to the current leaders (or former leaders)...msft, intc, dell, etc. They mature, plateau, and theres no way that former valuations can be justified.
I'm curious to what'll happen to the bank stocks. Jim Rogers thinks they'll all go to $8 before its done (citi, lehman and others). Too dangerous to pick a bottom there unless you're extremely skilled.
Hey Texan.
If I had the guts to put my whole portfolio in Ag and energy, we'd both be in Laguna Vista playin Golf and or goin fishin but i always pull the reins too tight for safety. Not workin this year
You've got to protect yourself in this environment. Inflation hasn't even begun to set in yet. It's gunna get uglier from here (unless you invest for success).
I think we'll probably see a weak rally tomorrow maybe. I don't day trade or invest for the short term. If you want to make money in this environment, open a margin account, short financials (yes still), big ticket retailers, airlines, home builders and their suppliers, domestic auto makers, any American company that relies heavily on imports, transports, and any company that does alot of business with wall street firms. There are going to be some massive layoffs coming in NYC. Any company that does a considerable amount of business with the investment banks are going to get hurt. Financials still have a long way to fall. They are purposely under stating their bad debt on their balance sheets because they are so desperate to raise capital, and you can't raise capital and be honest with what you have on your books. Nobody in the world would, unless you are the federal reserve.
You've got to protect yourself in this environment. Inflation hasn't even begun to set in yet. It's gunna get uglier from here (unless you invest for success).
I think we'll probably see a weak rally tomorrow maybe. I don't day trade or invest for the short term. If you want to make money in this environment, open a margin account, short financials (yes still), big ticket retailers, airlines, home builders and their suppliers, domestic auto makers, any American company that relies heavily on imports, transports, and any company that does alot of business with wall street firms. There are going to be some massive layoffs coming in NYC. Any company that does a considerable amount of business with the investment banks are going to get hurt. Financials still have a long way to fall. They are purposely under stating their bad debt on their balance sheets because they are so desperate to raise capital, and you can't raise capital and be honest with what you have on your books. Nobody in the world would, unless you are the federal reserve.
Or the U.S. Congress with the new FHA bailouts... if the FHA president says its a "VERY BAD IDEA" and Congress passes it.. well, you know the end result...
just to let everyone know, in order to make money, you've got ignore these talking heads, pundits, kudlows, cramers, 5 star fund managers, ect. They will try and talk you up and take you for everything you have. ignore the noise. ignore the warren buffets and listen to the Jim Roger's of the world.
look at the macroeconomic trends, find solid companies, develop a sense of what the idiots on wall street are doing, and find opportunities to buy low and sell high.
to make money in this environment, you have to invest for success. Sometimes it's volatile and uncomfortable, but thats what makes you better than the rest. protect yourself from the massive inflation we are just barely starting to see. buy metals, junior energy companies, agricultural commodities, commodities producers, and bet on more conflict in the middle east. think about the future and what will happen before it does happen. be the smart money, but don't be afraid to get on the bandwagon of the fundementals are still in place.
If I could, I'd be shorting financials (yes still), big ticket retailers, airlines, home builders, domestic auto makers, any American company that relies heavily on imports, transports, and any company that does alot of business with wall street firms. There are going to be some massive layoffs coming in NYC. Any company that does a considerable amount of business with the investment banks are going to get hurt.
just to let everyone know, in order to make money, you've got ignore these talking heads, pundits, kudlows, cramers, 5 star fund managers, ect. They will try and talk you up and take you for everything you have. ignore the noise. ignore the warren buffets and listen to the Jim Roger's of the world.
look at the macroeconomic trends, find solid companies, develop a sense of what the idiots on wall street are doing, and find opportunities to buy low and sell high.
to make money in this environment, you have to invest for success. Sometimes it's volatile and uncomfortable, but thats what makes you better than the rest. protect yourself from the massive inflation we are just barely starting to see. buy metals, junior energy companies, agricultural commodities, commodities producers, and bet on more conflict in the middle east. think about the future and what will happen before it does happen. be the smart money, but don't be afraid to get on the bandwagon of the fundementals are still in place.
If I could, I'd be shorting financials (yes still), big ticket retailers, airlines, home builders, domestic auto makers, any American company that relies heavily on imports, transports, and any company that does alot of business with wall street firms. There are going to be some massive layoffs coming in NYC. Any company that does a considerable amount of business with the investment banks are going to get hurt.
You sound pretty sure of yourself.you probably will be a multimillionaire buy next year.Maybe a two million a year job with CNBC?
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