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I've said it numerous times, never try to catch a falling knife. If you are trying to guess a bottom before there is evidence it is important to use stops. If you are asking yourself, "is it to late to sell now" than you obviously waited too long.
When it comes to your long positions, all of this is white noise. Do you really think in the next 20 years the stock market will never travel higher than current levels? Of course not, so don't worry when it comes to your long positions.
However, for those of you that also have short term positions, now is not the time to be buying. When we finally bounce back, you will know. There is no point in guessing the bottom. You can afford to miss the first couple of days when we reach the bottom. You'll still be able to make plenty of money on the way up, but let it bounce first. There are tons of great buying opportunities, but once again, WAIT FOR THE BOTTOM AND DO NOT TRY TO GUESS THE BOTTOM.
Let's say Wednesday, we see a strong positive day. On Thursday, open some small positions if the market is up again. If the market closes strong, then on Friday, feel free to add a bit more to your positions. Remember, one strong day doesn't equal a bounce. You want to see lasting strong buying demand.
This is just my two cents on how to handle your short term positions. Once again, don't worry about your long positions, they will be fine given time. However, when it comes to your short term positions, be careful, you shouldn't treat them like your long term positions. Either use stops or watch them closely, do not try to guess bottoms, don't be in a rush to buy and always have an exit strategy before you buy or short a stock. You should never find yourself asking, "is it too late to sell."
I've said it numerous times, never try to catch a falling knife. If you are trying to guess a bottom before there is evidence it is important to use stops. If you are asking yourself, "is it to late to sell now" than you obviously waited too long.
When it comes to your long positions, all of this is white noise. Do you really think in the next 20 years the stock market will never travel higher than current levels? Of course not, so don't worry when it comes to your long positions.
However, for those of you that also have short term positions, now is not the time to be buying. When we finally bounce back, you will know. There is no point in guessing the bottom. You can afford to miss the first couple of days when we reach the bottom. You'll still be able to make plenty of money on the way up, but let it bounce first. There are tons of great buying opportunities, but once again, WAIT FOR THE BOTTOM AND DO NOT TRY TO GUESS THE BOTTOM.
Let's say Wednesday, we see a strong positive day. On Thursday, open some small positions if the market is up again. If the market closes strong, then on Friday, feel free to add a bit more to your positions. Remember, one strong day doesn't equal a bounce. You want to see lasting strong buying demand.
This is just my two cents on how to handle your short term positions. Once again, don't worry about your long positions, they will be fine given time. However, when it comes to your short term positions, be careful, you shouldn't treat them like your long term positions. Either use stops or watch them closely, do not try to guess bottoms, don't be in a rush to buy and always have an exit strategy before you buy or short a stock. You should never find yourself asking, "is it too late to sell."
Yes, my stocks have lost quite a lot in the last few days.. but my bonds made back more than those losses so it's all good.
The market is starting to drop going into 2:00 pm... it's been doing this lately. One of my friends that I help with his investments, asked me this morning, "hey stocks are up, does that mean we hit the bottom?" I basically told him what I wrote here, that the market could very well close down or flat. Don't be so eager to jump right in before a solid bottom has been formed.
Q3 earnings calls have started. Investors will either feel better or run to the hills. This will get interesting. Get your dry powder on standby just in case. The U.S. is still the best country to invest in.
Q3 earnings calls have started. Investors will either feel better or run to the hills. This will get interesting. Get your dry powder on standby just in case. The U.S. is still the best country to invest in.
However, for those of you that also have short term positions, now is not the time to be buying.
Depends on what you are buying and what you know (or rather what you think you know)... a generic "now is not the time" has never rang true for the stock market. It all depends...
With that said, your post was "white noise" for me.
Depends on what you are buying and what you know (or rather what you think you know)... a generic "now is not the time" has never rang true for the stock market. It all depends...
With that said, your post was "white noise" for me.
I hope you've had fun buying all the way down and thinking 1 week ago was the bottom or 1 day ago or today... without signs of buying demand is pure gambling, but I will leave it at that. It's your money after all lol.
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