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With the markets set to open down hundreds today, it is good to have a large cash position, and be in position to acquire some positions at bargain prices. After taking flack for some time about my lack of confidence in the market, it is nice to see that prices are now coming to me, instead of chasing them upward as many of my critics have done. While many others are feeling fear and pessimism, I am becoming confident in my future profits.
Sometimes it is good to be the proverbial broken clock.
After taking flack for some time about my lack of confidence in the market, it is nice to see that prices are now coming to me
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Sometimes it is good to be the proverbial broken clock.
That is some funny ****, all the "optimists" that you deride made huge gains in an amazing bull market over the past couple years, then when world events cause a pullback you're in here patting yourself on the back you were right all along. How did your "short BAC at 11" wisdom turn out for ya?
I'm pretty happy that things are dipping, the ride smooth steady ride up to 12.5k was way too easy. Feel better buying if we could temper things down for awhile.
I think it is hilarious for some one to cheer themselves for being really smart in staying out of the markets the last few years after it goes down 232 points (as of right now) in one day...while contently ignoring that you have missed the bull market run from 7,500 to 12,000 (4,500 points). I would call that penny wise, C-note foolish.
Whatever delusion makes you happy though. I guess people need to take solace in the small victories if they missed such a staggering opportunity.
Well slackjaw..those gains are only on paper unless you got out.
If someone invested thruout the downturn they are still up in a big way despite the recent pullback. 7500->12500 is a gain, and so is 7500->12500->11800.
The market was due a correction and the Middle East/Japan situation gave it the excuse it needed. It is probably healthy because it will give the market a new base to build from.
I have seven March covered calls expiring on Friday so, for me, this correction is a good thing as I will probably not get called out of them and will be able to rewrite for April and bring in some cash.
I think it is hilarious for some one to cheer themselves for being really smart in staying out of the markets the last few years after it goes down 232 points (as of right now) in one day...while contently ignoring that you have missed the bull market run from 7,500 to 12,000 (4,500 points). I would call that penny wise, C-note foolish.
Whatever delusion makes you happy though. I guess people need to take solace in the small victories if they missed such a staggering opportunity.
I suppose it is all in how you look at it, seeing as I was out in time to not take a big loss when it dropped to 7500, the smaller positions I took at the bottom, along with commodities, paid well, overall I am up considerably from 2007 with little exposure to risk.
Most of the same people who are patting themselves on the back for being in the market for the 4500 pt run up did take big losses, and are no better off than they were in 2007.
I am still not sold on the solid foundation of the market. The fall off today is only a short term profit opportunity. The market will have to deal with the realities of the economy at some point, and when it does it will not be pretty.
I suppose it is all in how you look at it, seeing as I was out in time to not take a big loss when it dropped to 7500, the smaller positions I took at the bottom, along with commodities, paid well, overall I am up considerably from 2007 with little exposure to risk.
Most of the same people who are patting themselves on the back for being in the market for the 4500 pt run up did take big losses, and are no better off than they were in 2007.
I am still not sold on the solid foundation of the market. The fall off today is only a short term profit opportunity. The market will have to deal with the realities of the economy at some point, and when it does it will not be pretty.
Whatever, it's your money and you can do what you want.
Don't expect people not to laugh if you crow loudly and publicly that you have cash to take advantage of a short term dip in market prices....from missing a 30% yearly run for 2 years (assuming index fund). It's actually extremely funny to watch people proudly display their very foolish decision as if it was the smartest move in the world. I am a Schadenfreude though.
I don't really care about the vague claim of "most people", anecdotes are just another word for what comes out of the back end of a horse. I can see what "most people" say on Morningstar and The Motley Fool...and it's about their gains or slapping themselves for not taking advantage of the run. I bet there some people who didn't, but there are always stupid people making stupid speculations even in great markets.
Cash or investments, if that "great economic collapse" happens you constantly harp about...either are screwed. If it doesn't, that 30% ROI is going to keep me warm at night much better then that 1% per year in cash. We will see how the future pans out, it is always uncertain, but remember how much your little stash of cash is earning compared to inflation and those who wisely invested.
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