taking a beating
- Thread starter jwintosh
- Start date
Yeah. My Exxon is down too... Coca Cola is down.. But go figure, Dominos pizza is up... lol
Volusianator
BoM Nov '07 & Jan '09
Keep the faith men!
Hey my mentor once told me, only put what you can afford to loose into the market and nothing more. I hold to that and have always done well. I'm in it for the long haul on some of my stocks. I use the BOTL Stock to see how some stocks preform.
Not yet, The market is going to go down for a few more days and then will be the time to buy.. JMHO...
Great time to own gold though... hehe.
Great time to own gold though... hehe.
Oil stocks are getting pounded... Is a great time to buy them though... I actually took a loss on the BOTL stock thing and bought oil.. Im gunna see if I'm right.
If you would have listened to me, you would have made a killing. Oil is still to high. Wait till tomorrow or Friday. Then jump on board. Hope you got out of Cheesecake Factory when I told you. Its taking a huge dump.
BTW, dad says call him. Needs a favor from you.
"Own", being the key word, Bill. I would not want to buy now. I sold out my silver last year and did well. I got out at $13. You never get the lowest low or highest high. I see that it is near $16 today. The NYT had an article this morning stating that they believe Wall Street has only disclosed about 1/2 of the crisis in the sub-prime arena. They expect another round of serious bad news in the mortgage industry. I suspect that this correction may lead to 1 - 3 years of negative returns, a la the S&P of 2000 - 2002. Long haul is indeed the goal, but it does get disconcerting riding the roller coaster at times. I rebalanced my funds to foreign markets early last year and have not been hit nearly as hard as some holding only domestics. However, the last few days have hit the foreign markets hard as well. . .:hanghead:
I agree with you Fox. The market is very volatile right now. Those that own gold could make a substantial amount of money. To buy right now is crazy. BofA bought Countrywide. Other indicators in the mortgage and new home construction market is playing with how the markets in the US are doing.
Oil prices are still going down. When the oil companies tell you they are making money, don't believe a word of it. You watch the last quarter reports and see how much profits that they are making.
Add in the value of the dollar in foreign markets. Its going to be a bumpy ride for a bit... Mutual funds are still a great investment for those that can't afford to loose a lot of money.
I am getting buy/sell orders constantly. Folks are not listening to the pros (me) ... Oh Well. Back to work before the market closes.
Oil prices are still going down. When the oil companies tell you they are making money, don't believe a word of it. You watch the last quarter reports and see how much profits that they are making.
Add in the value of the dollar in foreign markets. Its going to be a bumpy ride for a bit... Mutual funds are still a great investment for those that can't afford to loose a lot of money.
I am getting buy/sell orders constantly. Folks are not listening to the pros (me) ... Oh Well. Back to work before the market closes.
Yeah, I sold Cheesecake... I most always listen to you, since you are da man in the market. I'll call your dad. Did you make VP? Your old man said you were up for it. Congrats if you did.
They are not listening to the pros because they are in a bit of a panic. Few remember the corrections of the past and the need to take a long view. For those in mutual funds it makes sense to stay where you are at and trust the pros if you did not rebalance before the correction. I was just telling someone today to look at the S&P. In the last 25 years it only suffered negative returns in five years. In other words, you will still be making money 80% of the time using that example. Those are pretty good odds. It will be bumpy and painful for awhile. I just hope the fed stays out of it and lets the markets correct themselves. . .Loose credit has hurt the country many times and now is the time for tightening the belt.
indyrob
BoM Feb '06 & Sept. '08
:applause::applause::applause:
This is exactly what is happening! Folks living off credit instead of saving or investing. That's why I pay cash for everything. Well said Fox!
Hah. I was right on the oil.. Already made money.. hehe... Stick that in your ear CK (Chris) lol...I already know what you are going to say. I'm laughing now. I know I will pay later.. Tell ur old man to answer his damn phone too! Is he going deaf? lol.. Called both numbers. Let him know I'm going to roll by his place after my dentist appointment. Have some Padillas for him off a box split!
cvm4
BoM - July '05 & Dec. '10
It's going to be pretty volatile for atleast a few more months. Buy on the lows and sell on the highs.
:scratchhe
Tell me a group of companies that does so much for it employees, the communities they work in and for the country in general plus gets bitched at for market fluctuation. When there product cost less than $3 a gallon. I personally don't like paying more for products I need, but I cut back in other areas and don't blame companies that do their jobs. Hell I pay more in taxes than I pay for my mortgage and the energy I use. Just remember "Big Oil" is run by people just like you and me.