Watching 3820 for a bounce. BHP maybe.
Actually it's going to bounce now.
It is 22C in Townsville at present, a glorious day, some high cloud.
It was 11C overnight, chilly as expected for this time of year.
I have been away, anything happening in the markets?
gg
It is 22C in Townsville at present, a glorious day, some high cloud.
It was 11C overnight, chilly as expected for this time of year.
I have been away, anything happening in the markets?
gg
It's funny but 2 songs from the clash come to mind today.
"Should i stay or Should i go" and "London's burning"
I don't plan to be singing "Catch a Falling Knife and Put it in Your Bottom Drawer"
Private debt to gdp around 160-170%, 2nd or 3rd in the world
My thoughts....
High Australian employment dictating corporate profits will surely have to put a floor on the values of those companies most exposed to local economic conditions?
Market to tank or shoot up on the Fed announcement tomorrow?
I'm ready to buy some moreopcorn:
Watching 3820 for a bounce. BHP maybe.
Actually it's going to bounce now.
You seem to rather be admonishing Sails for her comment, Rick. I don't see where she has 'sat in cash consistently' or where she's suggesting anyone else should do so. As a very experienced options trader, I'd be surprised if she had.I hesitate at the "lol". I am also in cash but I respect the tough decisons that others have had to make -- and surely no 2 sets of circumstances are identical.
Have people who have sat in cash consistently these past several years done the right thing by themseleves and their capital? Absolutely if this is their considered stance.
Sure. However, inevitably some of the comments on this thread are bound to be what I'd say are pretty sensible responses to the bewilderment that's being expressed by inexperienced people who have never had the, um, challenging experience of a market rout.I prefer to respect the positions, strategies and views of others - whether they be 26, 46 or [like me] 66.
AN IMPORTANT DILEMA.
One that many find themselves in and one Ive faced many times.
What choices.
Firstly---the adage Ive seen here---if it is undervalued and a good stock then why sell it.---because there is a good chance that world economic forces could re value the company due to their impact upon it.---somehwre down the track---in other words what bis value now may not remain so and may not be seen as value by investors in the future.
Secondly.
Whats changed.?
There is still massive debt which is not going to be paid in Europe unless the IMF come to the party. So European union is STILL doing very little to overcome the issue of insolvent countries.
The US STILL prints money to increase its debt and increase its IOU's.
Until these issues are addressed and solutions implemented the next bull market will be a distant idea.
My personal view is this has a long way to go to the downside.
Sure there will be periods of revival and they WILL be MET by the many who are in your position who will see this as an opportunity to get SOMETHING back.
Resistance will be ever present.
As such new highs and even a decient recovery is in my view very distant.
Lower lows and even very lower lows over the next 12 mths are highly likely.
Rescue packages wont cut it.The world has seen that they are no more than bandaids used to stem a hemorrhage.
So what to do.
Beside hindsight:
You can wait for a bounce---you run the risk that any bounce will not reach todays levels.
You sell x% of your position NOW.
You protect your positions with a hedge like a short index (Future) position.(If I was still in the market this would be my choice).
Its very common for people to hold positions infinitum when the LOSS becomes too painful to take. If it was too painful Friday its like a heart attack today.
Learn from this.
RISK is NO 1
DONT be a hero.
Be DECISIVE.
Exiting too early is preferable to exiting too late.
And as RADGE SAYS
It doesnt matter that your wrong---just how long you stay wrong!
I'd suggest everyone who is feeling afraid/confused should consider printing off the above post and keep it in front of them all the time.I know.
Friday it was 10% today 22%
in a month could be 40% or 10% or + 10%
The only thing you know for sure is TODAYS liquidated value.
So far NO CHOICE has been very costly.
If thats your choice then EXPECT a similar result.
Alex, you're right: it's probably the most difficult single thing to learn. Don't feel bad that you're finding it so.Wow, i admire your ability to take losses. It really is not an easy thing to do.
I plan to keep my distance until things at least flatten off, but when you get a "V" shaped recovery/bounce it is hard not to want to jump back in with both feet. The fear of being left behind or missing out is a powerful driver. It is times like this when tight hard stops can save you a crap load of money. However, it is much easier saying it than doing it.
I'd suggest everyone who is feeling afraid/confused should consider printing off the above post and keep it in front of them all the time.
I've been watching sky business channel today and all the guest brokers/anylasts have been very bullish !
Watching 3820 for a bounce. BHP maybe.
Actually it's going to bounce now.
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