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Of course I've seen 2 major recessions where stock market simply keeps dropping and nose diving with small amounts of recovery during years of recovery. But I have never seen where the market drops nearly 25% and climbs back up the same amount. I've had stocks in my portfolio sank more than 50% this year and now it's up more than 70% from this year's lows. I had one portfolio that lost 70% of its value in March and now it's up 110%.
I didn't sell any stock during the panic selling and in fact I tried to load up but couldn't really find a bottom since March.
You ever seen those Star Trek episodes where they visit a planet where time is accelerated? One hour passes on the ship and one year passes on the planet. That's what the markets remind me of. In 2008, what took the Fed and investors months to work through happened in just a few days this year. Everything is on such an accelerated cycle. Anyone who doesn't set buy limits is bound to miss buying opportunities by huge margins.
I did buy at the bottom of all the REITs that collapsed but I mistimed everything else.
Leaving aside the speed of fall, this bear market was pretty average. A 38% loss peak to trough. That's nothing compared to the GFC or the dotcom bubble.
I always believe that in an election year that stocks can't lose and COVID19 was gonna prove me wrong.
I had a sell order back in April, fortunately for me the sell limit wasn't met as the market price dipped below and I canceled the transaction. I turned off the TV and went back to work. Now the stock is up 50%, glad it worked out for me.
My gut feeling is still better than all these analysts says.
Kinda tells you, how unstable country is, with complete lack of strong power, torn between two fighting political sides, and, people grasping to any sign of improvement, just to see more problems coming.. Aye?
Instability and lack of clear program at the top is perceived by crowd on subliminal level.
Besides, it is not this year. It is continuous decline since 2008. They extinguished instant problem then with money, but that is not working anymore.
I wait until I - hopefully - recover my 32% loss and sell it all right away. Then will take 20% hit and put cash into what we have left in our home mortgage. Forget those games.
Went down again this morning and I sold all my profit to the tune of $8k. My return on RCL was 120%. I read yesterday about a guy turning a $1200 stimulus check into $10k so I feel pretty good even after losing money the last 2 days. If only I had sold Friday when they all peaked.
It's been an up and down 2 months but I'm happy with how I did in taking advantage of the crash.
Jim Cramer is the king of newbies. He's the Rick Flair cu.m Hulk Hogan of CNBC. Give it some time and you'll cut him off from your financial news sources.
Quote:
Originally Posted by Zach911
I'm just a beginner but I did pretty good. I bought up a bunch of cruise line and airline stocks in March... in for about $12k.
Read this last night after the market went down yesterday.
Went down again this morning and I sold all my profit to the tune of $8k. My return on RCL was 120%. I read yesterday about a guy turning a $1200 stimulus check into $10k so I feel pretty good even after losing money the last 2 days. If only I had sold Friday when they all peaked.
It's been an up and down 2 months but I'm happy with how I did in taking advantage of the crash.
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