3 reasons: (1) The vix, whatever that is, hit an all time high and shorting is now allowed. (2) I’m scared. (3) I’m running out of cash.
virginCFAhooker Wrote: ------------------------------------------------------- > 3 reasons: > > (1) The vix, whatever that is, hit an all time > high and shorting is now allowed. > > (2) I’m scared. > > (3) I’m running out of cash. in that case, the bottom was 1 week ago for me.
Don’t forget that a lot of HFs will continue to dump all kinds of shares on the market to meet redemptions. It could still get worse. I don’t think the Dow will go much below the mid 8k’s, but I really don’t see how this can be the bottom, contrarian indicators notwithstanding. And yes, Warren Buffet is doing all kinds of bargain shopping, but I would too if I could get the terms that he’s getting.
I’m out of cash. My next few paychecks are going into UYG though. I plan on getting asked out to dinner a lot.
It has to be soon.
the bottom will form when u (and others) stop callin the bottom…
When Obama wins the general public will assume we are at the bottom.
I don’t know if it’s “the bottom,” but my limited knowledge of charting suggests that we may be shifting from a plunge to a sideways trading for a while. The present panic may be ending but people are still jittery. I think a number of companies, funds, and individual investors are going to need to survey the damage and get some more perspective before we can tell whether we are in for more drops or not. We still haven’t had a credit card crisis, and CDSs aren’t splattered all over the front pages (they’re getting closer though). When Joe Sixpack and Suzie Soccermom have an approximate understanding of what a CDS is, then we’re at the bottom.
You can choose your financial exposure more carefully than just UYG… check out NLY. They will just print money with zero credit risk in this climate. Friggin’ leveraged printing machine at the taxpayers expense … should be outlawed but I own it so nevermind.
Virgin, I forget, does that AAII database have ETF stuff too, or just listed companies?
It has them in there but, obviously, the fundamentals all are messed up. If you need just some share price, volume, info, etc. then it is ok.
I think so many people are waiting for that ultimate day of capitulation which just may not happen. I thought for sure we wouldn’t go below 10,600. 1,400 points later has left my brain racked. Trillions and Trillions of market value gone in the span of a month. We’ve slid 15% since last Thursday alone.
yeah, everyone is waiting… I understand why. Look at almost any stock index chart… whether it is going up or down, how do parabolic stories like this always end? (I think the answer is “bounce”). I’m not a technical analysis guy.
There will be a 2-3 months bounce soon. I do not know when. It could start today. But I like market to go up on its own will instead of more interventions. I think short ban caused the market to behave strangely last few weeks and probably has prolonged this down leg. I am still 100% cash. Maybe I will start buying something. But too much damage is done right now, it is likely market will make another low next year.
I’ve looked at NLY but I already got cleaned out on New Century Financial when it went bankrupt so I am gonna stay away from individual names when I play the “bounce.”
virginCFAhooker Wrote: ------------------------------------------------------- > 3 reasons: > > (1) The vix, whatever that is, hit an all time > high and shorting is now allowed. > > (2) I’m scared. > > (3) I’m running out of cash. I thought the short ban expires tonight at 11:59? I believe the ban will be lifted for tomorrow’s trading day…
Darn. You’re right. Back to the drawing board. I’ll call my broker, “Can I get a refund?”
I’ll call it a bottom when the ultimate crowd -the central bankers -throw in the towel
Virgin, you are looking at the worst financial crisis since 1929 Oct 24, and you think we already reached a bottom? We are far away from the bottom and the spill over effect from fears will drag market down further. I am not going to guessing the bottom myself, after all how many ppl can buy at the bottom? Just let market comes out on its own.
he SEC said Wednesday night the ban on short sales of financial company stocks will continue to just before midnight on Oct. 17, just about the time a flood of bank earnings reports are set to hit, and dcallocchia0322 Wrote: ------------------------------------------------------- > virginCFAhooker Wrote: > -------------------------------------------------- > ----- > > 3 reasons: > > > > (1) The vix, whatever that is, hit an all time > > high and shorting is now allowed. > > > > (2) I’m scared. > > > > (3) I’m running out of cash. > > > I thought the short ban expires tonight at 11:59? > I believe the ban will be lifted for tomorrow’s > trading day…