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Post by Kizzume on Nov 26, 2007 19:25:50 GMT -5
If it happens again tomorrow, THEN we may have something to worry about.
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Post by jq on Nov 27, 2007 0:53:09 GMT -5
I wish I had money to throw in the stock market right now. Now would be the perfect time to buy. But as is, I have to decide how much longer I should hold on to my stock (which is below what I bought it at at this point  ) Because I need that money to pay for christmas presents. I have never had such a low amount of cash on hand, struggling to make my payments-- and I don't have a lot of time to wait aroudn and hope my stock bounces back up..... |
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Post by chuq on Nov 27, 2007 4:12:07 GMT -5
You would think that the good news about Black Friday and the expectations of Cyber monday would have fuelled a rise. maybe the predictions are right, it is heading to a recession.
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Post by Kizzume on Nov 27, 2007 9:01:22 GMT -5
We will know tomorrow.
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Post by redstaterebel on Nov 27, 2007 15:56:58 GMT -5
Anywhere near the 11k mark on the Dow would be the time to load the boat.
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Post by jq on Nov 27, 2007 17:49:50 GMT -5
Anywhere near the 11k mark on the Dow would be the time to load the boat. Agreed, this is truly disastrous. What would be your recommendation rsr? Should I hang onto my stock throughout the week and hope it bounces back? It went down even further today! I will have lost about 20% of my money if I sell now......but I need to sell pretty soon to pay for christmas.... |
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Post by redstaterebel on Nov 27, 2007 19:00:43 GMT -5
JQ -
Thats a tough one. But you did get most of yesterday's loss back today
Down 237 yesterday, Up 215 today. This is really a wild ride.
I spent 8 years with PaineWebber - now UBS. The company line would be to recommend that
you sell on an up day- based soley on your needing the money in the near future. With a 3 week timeframe - everyday is a gamble - not an investment.
Also - year end tax selling is common next month. People sell what they are down on to take the tax loss - generally December is not the best month because of this.
Don't let this cost you Christmas
Do you own stock or a mutual fund?
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Post by jq on Nov 27, 2007 19:47:43 GMT -5
I have bought into various stocks in the past, never a mutual fund. Right now I am embarrassed to say what I am invest in  , but it is just one stock, and a company that has had a lot of success in the past. I invested in Domino's Pizza, not because of any particular interest I have in their business, but because they were REALLY cheap compared to their average, and it was a stock pick by a lot of analysts who insisted the price is a steal. Well, that may be, but it is below what I bought it at, so......so far, not really a steal.......It is lower now than it has been in 3 years. I expected a quick bounce back (and then I was going to sell it), as I have had success doing this with CFC, and with microsoft-- but so far, dominos hasn't bounced upward like the others occasionally have....still waiting.......don't know what to do..... |
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Post by redstaterebel on Nov 28, 2007 6:05:16 GMT -5
No need to be embarrassed. I think Dominos is cheap too and in general I would think its a good call. That stock was in the 30's this summer.
Your only problem is that you don't have enough time. You can sell it - take the tax loss (Uncle Sam will eat some of your loss) enjoy the holidays - start getting back in after 30 days to avoid a wash sale violation.
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Post by jq on Nov 28, 2007 21:40:09 GMT -5
Well, some good news. It went up 3.45% today. So if that trend continues another day or two, I can sell and not lose money  |
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Post by Kizzume on Nov 28, 2007 22:06:10 GMT -5
I am so relieved at this. It will just take 2 or 3 days in a row of the drop to cause a huge panic that will hurt us very badly. I'm so so so relieved it's not that time yet. :relieved sigh:
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Post by jq on Nov 28, 2007 22:12:14 GMT -5
I am so relieved at this. It will just take 2 or 3 days in a row of the drop to cause a huge panic that will hurt us very badly. I'm so so so relieved it's not that time yet. :relieved sigh: Indeed there is a tendecy to worry about the economy when it slows down. But as debateman has said on OTL, the market will generally correct itself. I hope that it continues to correct itself, for the better, and I can sell my stock ahead of what I bought it for  lol |
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Post by debateman on Nov 28, 2007 22:34:41 GMT -5
Never fear, the market will correct itself yet again. What happens is you get a few people with their panties in a wad talking down the economy, people panic until they realize there was no need for their panic. If you have something in the market, don't get out now... get in now. You buy low and sell high, not buy high and sell low...
We are entering the major revenue season (thank you Christmas) and will see a dramatic improvement in earnings I would bet.
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Post by Kizzume on Nov 29, 2007 2:18:12 GMT -5
I sure hope so.
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Post by redstaterebel on Nov 29, 2007 17:16:58 GMT -5
What a wild ride this is. 13,300 on the dow again.
Go Dominos! I'm pulling for ya.
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