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I was a daytrader for almost 10 years. I parlayed a $1000 investment into a position where I was acting as an unofficial Market Maker on some of the smaller NASDAQ stocks. I pulled everything in 2007, everything is in RE now, except for 3 retirement accounts balanced in managed funds (Large Cap, Small Cap Growth & income producers). I only shorted one time, and that was accidental (computer glitch where I ended up selling more than I actually owned).
Cash poor at the moment, but (I think) in a decent position. Looking to liquidate some RE and get back in but not in a rush to do it.
I've always been leary of shorting, too risky to me.
I like to pick decent companies that are rising, or poised to (based on financials) and set trailing stop-losses. If I get blown out but I've made a few percent, no biggie even if it goes back up after a brief drop. I can always get back in or pick something else. I'll take small wins all the time over big risks. "It's all in the percentages" as somebody [infamous] once said.
When people panic and get irrational, it can be a good time to buy. I was all cash when the WTC came down, doubled my money in the aftermath.
Sure. I'm 64, though, and in 25 years I'll likely be dead. I don't have the luxury of being a long term investor.
Actually, I would think that it would be even more important to be a "long term investor" at 64 than at 24 since you will need your money to last you for some unknown length of time. The only difference is that at different ages you should probably have different risk tolerances, but putting all your money into one thing is far more risky, IMO, than spreading it around among stocks, bonds, cash, real estate, etc, and that's true at any age.
I'm 65 BTW and still working until I reach FRA. I'm comfortable with the allocations I have (and have had for a few years now) for my retirement funds, and they'll stay the way they are.
Sure. I'm 64, though, and in 25 years I'll likely be dead. I don't have the luxury of being a long term investor.
Although I don't believe a crash is imminent at this time I don't see stocks going on a bull frenzy except the few days the Fed reports they won't raise interest rates like before. Expect the dollar to strengthen even if the Fed doesn't raise rates. The economy is weakening, not getting stronger and the rest of the world is already feeling the brunt of the downturn.
I'm almost 40 and plan to work to 70. I'm long and mostly equities, and I prefer index funds. My father is an excellent trader, but to do it right, it's a lot of work and nerves of steel. I've got a full-time job and other stresses in my life, so I don't need the distraction of the stock market, frankly.
Perhaps I am wrong but I think shorting is only for professional investors.
I have shorted several stocks and tried to short several more only to be told there were no shares available to short - these were technology stocks that were so wildly overpriced that conventional wisdom was they were bound to decline. Yet the stocks stayed high for several weeks and still I could find no shares to short.
here are some examples
Shake Shack
Linked In
Go Pro (when they were 100+)
Options either were not written on these issues or were so grossly overpriced as not be a good deal.
Any further insights into this process would be appreciated.
Fully hedged through Friday...... Fed and Expiration. Then I lift the hedge and I will be VERY short. Stats for next week are HORRIBLE.....and the bounce is coming to an end. There is still a HUGE short Gamma position out there. This recent bounce has done nothing to ameliorate the need to sell some $300 Billion of equities for guys who are short vol to get "right". We have seen what even $3 Billion MOC does.....$300 Billion is going to take some time to work off. Happy to be short once the "news" (Fed) is out of the way.....for now.
my oil stock is down a lot since last year which is to be expected.I am young and i dont own much stock.I am still ahead with my energy shares due to growth and dividend reinvestment.I am looking to buy some more stock in the not too distant future.I got my chevron years ago.
Actually, I would think that it would be even more important to be a "long term investor" at 64 than at 24 since you will need your money to last you for some unknown length of time. The only difference is that at different ages you should probably have different risk tolerances, but putting all your money into one thing is far more risky, IMO, than spreading it around among stocks, bonds, cash, real estate, etc, and that's true at any age.
I'm 65 BTW and still working until I reach FRA. I'm comfortable with the allocations I have (and have had for a few years now) for my retirement funds, and they'll stay the way they are.
All my assets aren't in cash. I have valuable real estate and artwork, etc. Actually, if I was smart I would have less of that right now I think. I'm getting ready to make some moves, downsize, and so on.
I went 50% long black Monday at the open and another 20% a week later... currently long. Yeah it's overvalued and we're in a bubble but that happens a lot... when in rome...
I prefer technical analysis. I suspect I may sell it all like Ted Bear come Thursday/Friday depending on the charts.... looking for maybe another plunge to form a reverse head/shoulders bottom... but right now the trend is up to test the neckline around 17200/2050 not that we have to get there.
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