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Way too early to tell. I refuse to run around shouting the sky is falling. I'd rather concentrate on buying bargains.
Yup. My bet is we already saw the reversal that wasn't going to occur today, but that's just speculation. Market seems to have settled around 16,000. My bet is it will stay around there until after lunch at least and we've already had the reversal. But I'm not a market timer. It's fun to guess about such things, but I don't really do anything on it aside from normal dollar-cost averaging in any downturn.
See there we go, I was wrong. It went back up to 16,250 rather than sit at 16,000 until after lunch. So now we're at a 750 point reversal for Monday as it stands now.
what makes you say that?
because we recovered 900 points?
I felt like the downward momentum was lost at the time. The drop was all psychological. I follow the S&P 500, so I don't even know how significant 900 points are for the Dow.
I've been waiting for a nice flush of the toilet for a while now. I went and put 80% of my 401K back into the market when the dow was down 800 Monday and hopefully it will pay off.
All the short term indicators look oversold at this point.
We had a nice VIX spike as well... a good flush of the toilet and a nice scare for all the permabulls gloating on internet forums about how markets never go down.
With bullishness levels so low and fear levels so high the risk favors bulls at this point. Buy buy buy! Just keep your eye on things in case we sell off again in a few weeks to months... pay attention to the global economy.
Good rule of thumb is to buy when bullishness levels are under 50% and consider selling when they get above 75%.. this takes the emotional factor out of the equation that so many people get caught up in.
I've been waiting for a nice flush of the toilet for a while now. I went and put 80% of my 401K back into the market when the dow was down 800 Monday and hopefully it will pay off.
All the short term indicators look oversold at this point.
We had a nice VIX spike as well... a good flush of the toilet and a nice scare for all the permabulls gloating on internet forums about how markets never go down.
With bullishness levels so low and fear levels so high the risk favors bulls at this point. Buy buy buy! Just keep your eye on things in case we sell off again in a few weeks to months... pay attention to the global economy.
Good rule of thumb is to buy when bullishness levels are under 50% and consider selling when they get above 75%.. this takes the emotional factor out of the equation that so many people get caught up in.
Just because you dumped back in -800 on the down doesn't mean you got back in then, most 401ks are mutual fund driven so you got in -588 most likey
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