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Stock Market,...Friend or Foe?

interstatepawnllcinterstatepawnllc Member Posts: 9,390
edited July 2002 in General Discussion
I sold all my securties today, stocks, mutuals, etc. I really think the market is fixing to TANK in a big way. Anybody else concerned or getting nervous?

Comments

  • MercuryMercury Member Posts: 7,842 ✭✭✭
    edited November -1
    Trying to time the market is a bad idea.......market timers make only a small fraction more than people who invest for the long term.

    I don't think it will go down much more. I'm BUYING at this point! :)

    Merc



    NO! You may not have my guns! Now go crawl back into your hole!

    ****************************************

    "Tolerating things you may not necessarily like is part of being free" - Larry Flynt
  • pickenuppickenup Member Posts: 22,844 ✭✭✭✭
    edited November -1
    Buy high, Sell low.Isn't that how it works?Are you saying it hasn't ALREADY tanked in a big way?I will be a little more patient but I agree with Merc it's almost time to buy. I buy for the long run, I figure that it is just a savings account for my kids anyway. I don't think the market will come back soon enough to help me out much.

    If I knew then, what I know now.
  • woodsrunnerwoodsrunner Member Posts: 5,378 ✭✭
    edited November -1
    Just a few days before the 9/11 attacks I had a strange gut feeling about the markets. I pulled 90% of my 401k out of stocks and put it into a fixed interest acct on the thursday before 9/11. 2 months ago I borrowed it all from myself at 5.5%, then paid all my credit cards and small loans off. I still have a couple grand of it stashed for a rainy day. I still put money into blue chips every week but most of my old equity is in fixed investments. I don't think the market will sink alot lower, but, I know there won't be any pie in the sky quick money for a while.

    Woods
  • He DogHe Dog Member Posts: 51,593 ✭✭✭✭
    edited November -1
    No, you need to buy low and sell high. That is not how most small investors do it, but that is the best way if you want to make money. As stated above, you gotta be in for the long haul. I am buying now too.
  • interstatepawnllcinterstatepawnllc Member Posts: 9,390
    edited November -1
    Market has dove over 300 pts since the start of this post. I would not be surprised to see the bottom fall out and it settle around the 5000 to 6000 range in the near future. Hopefully it will not collapse completely. Not enough new breadwinners to replace the baby boomers deep wallets. Hope I am wrong.
  • pickenuppickenup Member Posts: 22,844 ✭✭✭✭
    edited November -1
    woodsrunner;funny you should mention that gut feeling. Although most of what I buy is for long, I do sometimes run a few stocks short term, and because of a gut feeling, I sold ALL of those on 9-6 and 9-7.

    If I knew then, what I know now.
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