i'd LOVE it if things fell some right now...maybe i'd get back in the black. oh lordy!!!
considering the few buys i made are all already down by about 10-20%, i really don't see why i should be investing in ANYTHING other than QMNM. that thing has never been lower than 20% of my purchase, and only has the sky to climb. the rest of my investments seem to suck, and i'll be lucky if i make 10% on them. (i'm kind of joking, kind of serious). oh well, just another good exercise in patience...which i have none of...
You're gonna be fine IMO. Account balances fluctuate; it's a fact of life.
No way you want to JUST be in QMNM. 10%-20% down on some stocks now is acceptable (not good, but acceptable); theres a VERY high chance that AUY, EGO, AZK, SKF all surpass their previous highs. Not tomorrow, but not a year from now.
I def. know the feeling of being in the red and it sucks, but chin up bud - it's part of the game.
Hell, I bought SKF at 143 thinking I'd make a quick 5-10% and am way in the red on it. I'm also 90% sure I'll sell it for more than 143. :)
it's a lack of control thing, ya know. thought i was making some buys at relative lows, and now they've sunk substantially lower...and all i can do is wait. i'm just having a hard time not being able to actually trade, until that $25k mark. and times like this make me feel like i'm only getting further from it, not closer. hopefully six months from now i'll be laughing at being in red, b/c i will have seen this happen several times and know things will rebound. i feel like one of the little guys being stepped on right now...pisses me off.
Got stepped on myself today too bud! It happens. I'm building my position to step back. You've already got yours so hang on to it.
Bottom line is chin up. The only time you should ever get worried is if you really believe your thesis is flawed (i.e. the market is back to a bona-fide multi-year bull run and your loaded w/ shorts!!).
This FNM/FRE bailout will screw with the market all week IMO. Realize, that financials are NOT saved, fundamentals have NOT changed, and if anything we may be far worse off in 3-6 mo's because of these shenanigans.
You can't call a bottom, so don't try to. You're in, wait to book a profit now UNLESS you really believe those stocks you own will not be profitable for a very long time.
This is where I think it's important to remind yourself of the fundamentals like Lat said. The fundamentals had been allowed to run too far in their own direction and it was time for some intervention. That's what we got.
The mortgage bailout is incredibly inflationary. I was watching the morning when fannie and freddie were collapsing and then they started talking about federally backstopping them and the dollar started tanking. Where is the money coming from ($800 billion debt ceiling increase is in the bailout bill) to pay for this? Either printing or borrowing, no other place, certainly not from producing goods and selling them in foreign exchange (the old fashioned way we used to pay for things).
I believe that math doesn't lie. At least, you can lie about math for awhile, but not forever.
I ain't bailing o my SKF I bought at 135, I sure as hell ain't bailing on my Yamana lots (one of which I got at $18 something).
All this inflationary pressure is the reason the long bond rate has started climbing. Time for some TBT. If we're going to repay China with inflated dollars they will want more dollars.
thanks for the feedback, guys. but ya know, i have to say sorry. i do a little too much bitching and complaining about all this, and it's not constructive. i appreciate you all giving constructive advice...that's what this is and should be all about. so i'm gonna stop coming on here with any rants. i realize we have a very friendly atmosphere here, but i don't want to abuse it or have the majority of posts become cry-towel sessions.
anyhow, my feelings are that overall my positions are good. i'm not planning on selling for a loss, b/c i don't feel that this time i made stupid buys. being in red doesn't necessarily make them bad. my confidence just gets rocked by not seeing some small gains. i think i need to set some more short term goals. all i'm focused on is that $25k mark and it's making me nuts. see you guys tomorrow. i made pizza tonight...it'll be a hell of a breakfast tomorrow too.
12 comments:
Yeah - spotty on/off - maybe now it's working fine...
QMNM was above .02 (forget actual number)...
Just put a bid in on a house 2 blocks from where I am now...lowball offer of course :)
Good luck bud & have a great run
TTYL
Joe
Thanks!
FNM/FRE bailout passed house - on to senate fri/sat...
Not going to be a pretty fall IMO, and they just set 2009 up to suck.
Mortgage rates are gonna jump and defaults are gonna spike.
i'd LOVE it if things fell some right now...maybe i'd get back in the black. oh lordy!!!
considering the few buys i made are all already down by about 10-20%, i really don't see why i should be investing in ANYTHING other than QMNM. that thing has never been lower than 20% of my purchase, and only has the sky to climb. the rest of my investments seem to suck, and i'll be lucky if i make 10% on them. (i'm kind of joking, kind of serious). oh well, just another good exercise in patience...which i have none of...
Nate -
You're gonna be fine IMO. Account balances fluctuate; it's a fact of life.
No way you want to JUST be in QMNM. 10%-20% down on some stocks now is acceptable (not good, but acceptable); theres a VERY high chance that AUY, EGO, AZK, SKF all surpass their previous highs. Not tomorrow, but not a year from now.
I def. know the feeling of being in the red and it sucks, but chin up bud - it's part of the game.
Hell, I bought SKF at 143 thinking I'd make a quick 5-10% and am way in the red on it. I'm also 90% sure I'll sell it for more than 143. :)
it's a lack of control thing, ya know. thought i was making some buys at relative lows, and now they've sunk substantially lower...and all i can do is wait. i'm just having a hard time not being able to actually trade, until that $25k mark. and times like this make me feel like i'm only getting further from it, not closer. hopefully six months from now i'll be laughing at being in red, b/c i will have seen this happen several times and know things will rebound. i feel like one of the little guys being stepped on right now...pisses me off.
Got stepped on myself today too bud! It happens. I'm building my position to step back. You've already got yours so hang on to it.
Bottom line is chin up. The only time you should ever get worried is if you really believe your thesis is flawed (i.e. the market is back to a bona-fide multi-year bull run and your loaded w/ shorts!!).
This FNM/FRE bailout will screw with the market all week IMO. Realize, that financials are NOT saved, fundamentals have NOT changed, and if anything we may be far worse off in 3-6 mo's because of these shenanigans.
You can't call a bottom, so don't try to. You're in, wait to book a profit now UNLESS you really believe those stocks you own will not be profitable for a very long time.
But yeah - waiting sucks.
This is where I think it's important to remind yourself of the fundamentals like Lat said. The fundamentals had been allowed to run too far in their own direction and it was time for some intervention. That's what we got.
The mortgage bailout is incredibly inflationary. I was watching the morning when fannie and freddie were collapsing and then they started talking about federally backstopping them and the dollar started tanking. Where is the money coming from ($800 billion debt ceiling increase is in the bailout bill) to pay for this? Either printing or borrowing, no other place, certainly not from producing goods and selling them in foreign exchange (the old fashioned way we used to pay for things).
I believe that math doesn't lie. At least, you can lie about math for awhile, but not forever.
I ain't bailing o my SKF I bought at 135, I sure as hell ain't bailing on my Yamana lots (one of which I got at $18 something).
All this inflationary pressure is the reason the long bond rate has started climbing. Time for some TBT. If we're going to repay China with inflated dollars they will want more dollars.
Well put notnow.
Joe, you in bed already?!?
I'm calling it a night now myself - getting up at 7am is tough work!
thanks for the feedback, guys. but ya know, i have to say sorry. i do a little too much bitching and complaining about all this, and it's not constructive. i appreciate you all giving constructive advice...that's what this is and should be all about. so i'm gonna stop coming on here with any rants. i realize we have a very friendly atmosphere here, but i don't want to abuse it or have the majority of posts become cry-towel sessions.
anyhow, my feelings are that overall my positions are good. i'm not planning on selling for a loss, b/c i don't feel that this time i made stupid buys. being in red doesn't necessarily make them bad. my confidence just gets rocked by not seeing some small gains. i think i need to set some more short term goals. all i'm focused on is that $25k mark and it's making me nuts. see you guys tomorrow. i made pizza tonight...it'll be a hell of a breakfast tomorrow too.
I admire your stomache. I mean that literally. If I had pizza for Breakfast you'd have to take me to the hospital.
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