Who else is quietly shaking their head?

[gordon2007]

Just wondering, is there anyone else there like myself who really has no idea what to do right now. I've just been sitting back watching this massacre now for the past couple of weeks.

I'm down a good chunk of money but don't want to sell because I think it will all come back to value in time. I just sit here most days and barely even participate because I don't know what to do in a bear market. Hence I just sit here and shake my head and am left wondering.

So what are the others who are new to trading doing during this market?

 

[ToddPowers]

You're not alone, I feel exactly the same way.

 

[chops_a_must]

Do what I did in Feb/ March last year and LEARN. You never get a better opportunity to do so than during these times.

 

[dhukka]

I sat slack-jawed, watching the screens during the dotcom meltdown. You'll be better for the experience and more prepared next time round.

 

[lbradman]

Have you considered hedging your portfolio by shorting the index? That should let you ride this period out until the prices come back to good 'value' like you said?

 

[roland]

It's a tough call - makes you feel stupid for not having done something earlier. I'll probably hold all since I started accumulating dividend stocks, then maybe do some dollar averaging when the dividends come through.

When I feel bad, I find it helps to bring up a 20 year chart of the market and say to myself it just has to go back up.

 

[agro]

yeah very good learning experience imo

i am holding to be honest - fundamentals of companies haven't changed just the value

you get more bang for your buck too when u take opportunities like these

i can't see any point in panic selling and following the herd..

look to the future

 

[DionM]

Heh, we should have a club.

Every time I think a bottom may be reached, down things go again. It's so unpredictable.

Myself, I am sitting tight. There's not much else I can do, to be honest. I don't know what to do in a market like this - I buy mostly for the long term so I don't know how to 'think' in terms of shorting positions and the like, so I can't make money that way.

 

[skating101]

Im shaking my head at all this right now but one thing you've got to be certain of is the fundamentals of the companies that you have invested the dot com bubble was understandable because the companies typically had nonexistent fundamentals, im more of a resources man
btw im down a chunk too holding on long term maybe even buying more if it dips further

 

[Rainmaker2000]

Love the headline guys............I can't get access to the Comsec website, so what better than be here...heheh.......I'm pretty sure ASIC requires a broker website to always be accessible but hey, its all red I'm sure.....

Apparently we have now reached the technical definition of a bear market, 20% down from peaks........I'm just glad I'm here to see it cause its a great experience......have no intention of not being fully invested with margin cause there is some great value out there......the lvr has been riding upwards of course..hehe

 

[Uncle Festivus]

The market can stay irrational longer than you can stay solvent (or words to that effect).

 

[cordelia]

ok I sold the last of my blue chips last week. I lost a heap but now they are a lot cheaper so when the time is right I will buy them back. At the time when I sold them I thought "what if they go back up" and looked at all the possible scenarios......I should have had a stop loss earlier on.....I will never buy another share without first deciding when I will sell..That's the lesson I have learnt.
Also there are people who have bought at slightly higher prices all the way down and they are thinking as soon as they go back up I will get out. It may take a long time to go back up to the levels that I bought in and I am not prepared to wait 3 or 4 years.

 

[habs]

i think we are all shaking our head... and wait for tomorrow.....

there are some smaller companies that have been hit insanely hard by this, just like the august correction, where they fell much much more than the all ords... same thing is happening again... for example, ago and cvn ... basically lost 40% in a few weeks... they may bounce back if the fundamentals are good

anyway... just watch and learn.

 

[tech/a]

My take on what to do.

If your caught long and are sitting on large losses then there is not a lot you can do.

Look for volatility to calm down.
Being a hero during volatility is plain crazy,we need some consolidation.

If the stocks you have arent altered fundamentally by global meltdown then there will be opportunity to buy in again just like it was a new position(Even if you already hold it at a loss).
What I would---will do (as I have 2 that slid straight through stops) is treat any NEW trade on its own merits.
Have some shorts as well.(2)---not enough!
There will be opportunity for most but you'll need your wits about you.

 

[tronic72]

I sold all my positions but my losses weren't too great. (10K since November). I 'm really glad to be out of the Market as I think this is only the beginning. The US, ASIAN & EUROPEAN markets have really only just started their decline.

In some ways I think we are very lucky, because our Market seems to have been the first to receive a severe flogging. When the rest of the world starts to follow we may see massive losses unlike anything we've seen before.

Until recently I've been one of those saying "the fundamentals are still good". I still believe that but I've become sceptical of the market and think it's confidence is currently at an all time low which means prices will continue to tumble for some time yet.

I think we will be looking at a short term future where "cash is king" again and the days of cheap money are gone.



I currently don't have the balls to go short because the Market is so unpredictable. Good luck to those who do.

 

[panikhide]

I would hope that if you've held on for this long then you would continue to hold and ride it out. What I can't understand is that there would be people out there who voluntarily sell at this stage of the downturn.

 

[Trembling Hand]

The market can stay irrational longer than you can stay solvent (or words to that effect).

That's the one to remember. athough it was said about margin trading.

 

[Bruza]

Like most here I am holding, fairly new to it as well & didn't have stop losses in place, (figured to be in a year to feel around).

To add extreme pain, when I finally got onto ComSuc my portfolio showed I'd lost EVERYTHING!

It's got to be a glitch, got to be.

 

[wildmanchris]

So someone tell me if im right on this - im not that smart.

The NASDAQ closed friday at 2340 - and the future value as per bloomberg is 1781. Does this mean the future is pointed to a far bit more downwards?

 

[tronic72]

I would hope that if you've held on for this long then you would continue to hold and ride it out. What I can't understand is that there would be people out there who voluntarily sell at this stage of the downturn.

Hi Panikhide,

I've seen a lot of people with similar posts to yours so I thought I'd explain why.

I've been, "trading down". By that I mean, I've been selling when my profits or losses are small. Then buying back when the stocks have taken a dive. Then I sell again at a small profit or loss. By doing this, I keep my losses to a minimum and have actually been able to make a profit on some of my CFDs.

The benefit of this is, instead of having held on and coped a loss of 50% I might only suffer a loss of 5% or even a small profit but Im still in the Market WHEN it turns around but at reduced price.