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Markets go up and down and don't need a 'reason'. The market is driven by fear and greed. Today the market opened lower because it jumped so high yesterday. Otherwsie known as profit taking, aka greed. Area513 sums up the best advice for 99.9% of investors. For those who got caught being greedy 2-3 years ago and are now wondering about their near term retirement plans, reread Area513's advice. For those who plan on retiring in 5-10 years, reread Area513's advice. Unless you are a professional trader, reread Arae513's advice, and heed that advice.
Markets go up and down and don't need a 'reason'. The market is driven by fear and greed. Today the market opened lower because it jumped so high yesterday. Otherwsie known as profit taking, aka greed. Area513 sums up the best advice for 99.9% of investors. For those who got caught being greedy 2-3 years ago and are now wondering about their near term retirement plans, reread Area513's advice. For those who plan on retiring in 5-10 years, reread Area513's advice. Unless you are a professional trader, reread Arae513's advice, and heed that advice.
Not sure why profit taking=greed. Lots of people bought into internet stocks/houses, expecting them to skyrocket. Im sure they wish they were "greedy" back then.
Not sure why profit taking=greed. Lots of people bought into internet stocks/houses, expecting them to skyrocket. Im sure they wish they were "greedy" back then.
Most of my investing disasters have come about from being too greedy and holding on for even more profit. This year I have been conservative and tactical and I am looking at net realized profits of around 7.5% of total capital employed in less than 3 months (not my total assets but what I am putting into stocks). It is important to set profit expectations and, when they are met, to realize that profit.
I sold last Tuesday which was 15% up from when I bought stocks when I started this thread. I missed the high, but oh well, and was hoping to be in for the long term but decided last week I do not trust Obama and his fiscal policies or the market now. 1st quarter corporate earnings, unemployment increases, real estate declining prices, bank loan loss reserves that are coming and waning consumer sentiment are going to be brutal not to mention global issues.
Last edited by texan2yankee; 03-30-2009 at 04:42 PM..
I am an investing newbie. Besides my limited portfolio which is all mutual funds, the only investing I have done have been in CDs and Money market accounts.
On march 13th, I bought $10K worth of shares in a local company that is involved with making equipment that makes solar panels. I bought in at $3.89 a share and today it's worth $6.75 a share. Pretty terrific profit margin for a couple of weeks I thought! I've also been following a couple of other stocks that are doing very well too, though I didn't have any additional liquid funds to invest in these.
Now my question is should I sell some of my original purchase and diversify my money into these other stocks or just leave it alone and hope for continued gains?
What would you do?
I am an investing newbie. Besides my limited portfolio which is all mutual funds, the only investing I have done have been in CDs and Money market accounts.
On march 13th, I bought $10K worth of shares in a local company that is involved with making equipment that makes solar panels. I bought in at $3.89 a share and today it's worth $6.75 a share. Pretty terrific profit margin for a couple of weeks I thought! I've also been following a couple of other stocks that are doing very well too, though I didn't have any additional liquid funds to invest in these.
Now my question is should I sell some of my original purchase and diversify my money into these other stocks or just leave it alone and hope for continued gains?
What would you do?
If you are happy with the profit then take it.
An alternative is to take your original $10k out and leave the rest in for a "free" ride.
We must be nearing a bottom in this stock market. One big thing I have noticed is there have been no more massive layoff announcements by major corporations in the news lately. High unemployment numbers in the last two unemployment reports are reflecting past info.
Fingers crossed. We put our toe back in the water buying S&P index funds and global funds this week.
Anybody else jumping in? Bueller? Bueller?
Remember that employment is a lagging indicator.
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