I salute you for trying to "invest" in this market. It's the American way to be optimistic and invest for the future... but unfortunately these markets currently aren't for investing. They are for trading. Buy and hold is over. It doesn't really matter what ETF or index you invest in... they will all bounce around and likely get a lot lower than where they are now. You can still keep your trader hat on even while investing and buy assets that are in uptrends (not much at the moment). Investing is just trading with a very long holding period. You still want to keep the short to medium term in mind and if the potential for further 50-75% declines in the indexes and various ETF'S is still in the cards... your investment really isn't a prudent one. Short the rallies and you'll likely have much better capital appreciation than watching your investments drop over the next 6-12 months.
drukes1234 Registered: Aug 2002 Posts: 637 03-02-09 11:45 PM Yes I do have a lack of conviction, I'm a trader, not an investor, I just see these prices as absolutely absurd, but it is not my arena of expertise. ................................................. Drukes1234, come on give us a break. You are not a "TRADER" either, not by a longshot. If you were a trader and making real bucks you would stick to your knitting and take your profits and set them aside in something safe and not to worry about. You just said you just see prices as absolutely absurd, but it is not your arena of expertise. NO SHIT Dick Tracy. For those that believe you, dream on suckers. Keep funding those accounts, some of us will thank you as we spend your grocery money.
oil is finished as a prime commodity. economies are shifting towards renewable environmental friendly fuels. i expect that within 10 years, most big cities around the globe will ban the use of fossil-fuel vehicles and many industries will have in place plans to phase out fossil fuel dependancy. ---------------------------------------------------------------------------------- Laughing my Arse of as We raise 45 Million in Joint Venture Placements to Drill in the Bakken Shale Region. Laughing my Arse off as all those who think Private Manufactures are gearing up to run their Machines on Tree Bark and Sun Shine. Laughing my Arse off at the total ignorance that hydrocarbons will be replaced by Renewable Energy. Agreeing that Cars will run on Hybrid systems. Agree that Homes in certain regions will use both Sun and Wind power for individual use but that will not replace "Your Electric Company", it will reduce cost only. Laughing at the OBAMA FANS as their world starts to turn upside down. Sit back and enjoy the show, it's OBAMA NATION!!!!!
The OP has a good point, imo. I don't think anyone can time a bottom perfectly (especially this "bottom"). Scaling in makes perfect sense. Its not like he's throwing all risk control out the window. Good luck
OP, I give you credit, you got stones and i'm right behind you on teh buying, just not on those companies. I've been buying and going to continue to keep buying for a while. All you fairies that are scared are the people that will never make money. So keep banging your head against the wall for you nickel and dimes while you churn your profits away. You are sheep. I'm positioning myself in this market on specific tier companies and when the market snaps back, which it absolutely will, those assets will increase substantially.
You are certainly welcome to invest in whatever you want. You came here for opinions, and that's what we're giving you. But don't go on about how we're struggling to disconnect our trading mentality with a longer term view after you ask us for thoughts. Yes, many of these are down 70%. But they could easily go down another 50% from here! Does that make it a good buy? I dunno, I suppose if you held for 30 years, it might. But Russia? No thanks.
It is time to start scaling in. We're near a bottom on all markets, but the QQQQ has some more room to the downside. Until all lows from all markets during the last 10 years are taken out we'll continue to drift down. We'll recover in spite of gross incompetence at the helm of the government and corporate America <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2330179
This has nothing to do with a trading mentality v a long-term view nor with finding a bottom nor with how "cheap" these may be. Rather it has to do with the likelihood that these choices will rise, at least to an extent that buying them turns out to be worthwhile. If you're looking for a longer-term investment, buy something that is a reasonable price and that also pays a dividend. At least you'll be paid while you're waiting. (Just make sure that the dividend is not too high as a generous dividend will likely be cut, as GE's was.)
I'm not a trader? I will compare my trade sheets to yours ANY DAY, bring it on buddy, put up or shutup, child.
bighog, drukes - let's not get into a flame war otherwise I'll toss this into chit chat where it can rot.