NYSE plunging, time to buy, day trading anyone ? - Defender Source
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  #1  
Old August 5th, 2011, 12:44 PM
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NYSE plunging, time to buy, day trading anyone ?

Stocks are free falling, time to buy.

Anyone doing some day trading on the board ?
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  #2  
Old August 5th, 2011, 03:10 PM
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Quote:
Originally Posted by JFD View Post
Stocks are free falling, time to buy.

Anyone doing some day trading on the board ?
I don't day trade but I do follow it and trade quite a bit. I did do some buying yesterday....Almost jump out the window at some point late in the day, but I'm on the first floor.
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  #3  
Old August 5th, 2011, 04:13 PM
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Wait till Monday. It will go down more before it comes back up
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  #4  
Old August 5th, 2011, 04:37 PM
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Wait till Monday. It will go down more before it comes back up
Yep - waiting for another mild drop before throwing cash at it.. either that or investing in NAS Defenders. They're rare, you know.
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Old August 5th, 2011, 05:26 PM
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Originally Posted by SMOB View Post
Yep - waiting for another mild drop before throwing cash at it.. either that or investing in NAS Defenders. They're rare, you know.
512 points down on the Dow was a mild drop? You must have nerves of steel.

Yesterday was a good day to be short the S&P 500 (Check short term charts on SH and SDS.)
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Old August 5th, 2011, 07:05 PM
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512 points down on the Dow was a mild drop? You must have nerves of steel.
I usually have nerves of steel - but I'm wrong a lot, too.
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Old August 5th, 2011, 09:14 PM
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Originally Posted by jayz View Post
Wait till Monday. It will go down more before it comes back up
I think the markets will plunge on Monday with S&P downgrading us to AA+...
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  #8  
Old August 5th, 2011, 09:29 PM
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I think the markets will plunge on Monday with S&P downgrading us to AA+...
x2, this was the next shoe to drop. Now that the downgrade has begun, watch the de-value happen.
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  #9  
Old August 5th, 2011, 11:45 PM
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It is coming down, then it will bounce. The point is to know when .
BAC and C are getting hammered down, I'll keep an eye on them.
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Old August 6th, 2011, 09:42 AM
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It is coming down, then it will bounce. The point is to know when .
BAC and C are getting hammered down, I'll keep an eye on them.
Special thanks to our government for F%&*#@ us with the politics of the last dept ceiling meeting. The S&P downgraded us to AA+ last night as I'm sure you know. I would think everything is going to get hammered on Monday.

Although the S&P are the same idiots who didn't see the banking collapse of 08, not to mention they made a 2 trillion dollar mistake in their math. Complete incompetence everywhere.
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Old August 6th, 2011, 12:55 PM
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S&P only gets idiots because the smart people make 10x money in the markets as hedge fund guys or i-bankers as opposed to just rating stuff.

Ron (former i-banker)
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Old August 6th, 2011, 03:56 PM
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So what's congress's excuse?
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Old August 6th, 2011, 05:38 PM
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So what's congress's excuse?
The are elected.
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Old August 6th, 2011, 05:59 PM
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That makes us the biggest group of idiots for having elected them.
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  #15  
Old August 8th, 2011, 10:04 AM
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Oh, man, does this suck. Fear trade is up big time. Gold spiked to 1,715.01 this AM.
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Old August 8th, 2011, 10:23 AM
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So what are you guys looking at for 'good buys' in the market? I am invested in mutual funds, but know nothing about where to put my money. I've had the same advisor for the last 15yrs and he always says to just ride it out and put more money into my funds. I am looking at being a little more aggressive. What the hell, give it a try
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Old August 8th, 2011, 11:06 AM
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Originally Posted by lynchee View Post
So what are you guys looking at for 'good buys' in the market? I am invested in mutual funds, but know nothing about where to put my money. I've had the same advisor for the last 15yrs and he always says to just ride it out and put more money into my funds. I am looking at being a little more aggressive. What the hell, give it a try
Having a diversified long term portfolio is important, and it sounds like you have that. Call your advisor and tell him/her that you'd now like to perhaps establish a second separate, smaller, account for more speculative investments.

Be very careful here, though. This is gambling. There are plenty of aggressive prognosticators out there who can give you ideas to quickly separate you from your hard earned money. CNBC? Jim Cramer? All the other talking heads on TV? Red Flag. They are in the TV Ratings business, - as they should be - not the investment business. (Not to mention that listening to CNBC's Maria Barteroma screech "Do you know where your money is?" at the close of each trading day is torture to the ears.)

If you want to make your own choices, that may be the best, but it requires time and research. Do you want to make that time commitment?

Hedge Funds are fine, if you have the initial capital to get in. Understand though that the relatively unregulated hedge fund industry is in Congress cross-hairs, and that the hedge fund landscape (no pun intended) may be changing.

Finally, and this is just my .02 cents. Some here shall disagree, which is OK.
Many small investors seem to focus on penny stocks; ostensibly because they can get large share numbers on the cheap. Penny stocks, are penny stocks for a reason. IBM is trading at $170 per share for a reason. Think about that.
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  #18  
Old August 8th, 2011, 02:51 PM
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x2 on what GYM says.. eveyone has a strategy for making more dough than market returns. I'd say trade some companies that you know (i.e. with products that you know and use daily) with a relatively small amount of your portfolio, like 5-15%. You can do whatever percentage you want based on your appetite for risk. And now is certainly a good time to buy lots of companies, with the market down around 10%.

I just bought a crapload of low-cost market ETFs from Schwab - 10% slump works well. And of course, I could eat crow by not waiting to see if the market goes down another 5%.
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  #19  
Old August 8th, 2011, 09:19 PM
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Seriously why did the market drop like a stone since the debt deal and downgrade? Wall street knew the condition if the US debt and economy before and the market was going up. Treasury bonds should be dropping, if anything but no, the world knows the US is still the best bet. This sell off is a manufactured crisis just like the debt ceiling crisis. First Congress *ucked us and now Wall Street is *ucking us!
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  #20  
Old August 8th, 2011, 11:29 PM
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I made some bucks with Citigroup in the last months, bought at 3.06 and sold at 4.62. May be the time for a second part....
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