I have a home equity line of 175K and I think we are at the market bottom. I want to buy a 175K worth of calls on the QQQ I think it is a good idea. I am 59 years old and have lost a lot in my 401K plan so if I do this I can make a lot of money. Anyone else going to do the same thing.
I believe this week is the bottom. HOWEVER, even if it is and you buy a billion call options on the Q's , there is no guarantee that things will move quickly enough to bring your options into the money. In fact, there are lots of issues that won't disappear quickly, including investor confidence in capital markets. There's a ton of money in cash right now, but just because the market MAY have bottomed doesn't mean it will find its way into stocks soon (and some of it ever).
Thats just crazy......at 59 you should not be taking that kind of risk...but hey I like your style...
if you try to make it all back very quickly you probably lose even more. the "need to make it back" is one of a trader's greatest enemy - i would say.
I have been listing to a lot of financial advisers and most of them agree that this is the bottom. Why not leverage at the low and sell at the high. After that I will be laughing all the way to the bank and buying a big CD.
Is it worth losing your home? I also own a camper, if thing's don't work out I can always travel the country and do odd jobs. Right now things cant get worst and I have very little to lose.
they keep telling this nonsense for more than 2 1/2 years now. because they want people to buy / stay in - come what may. don't be a victim of those bandits. you think after 28 months decline - everything will be fine after one big up-day? we've had a lot of days like yesterday in the last few months. no one marked the bottom. who said this: "the bottom is a movie - not a picture" ? great statement!
why are you wasting everyone's time with these posts? In one thread you are a young guy just starting out. In another you are 59 with a big line of credit. You have said you were going to quit trading and get a respectable job. You said that Schonfeld was going to give you a salary to learn to trade. It seems that you haven't said one thing that can be taken seriously. Do you have a single thing to say that can in any way actually contribute to anyone about anything? Or do you just enjoy making provocative (and moronic) statements to see what kind of reactions you can generate? You will now be my very first to go on "ignore"...congratulations! BTW...you should really go back and finish high school so your posts are at least intelligible. Your grammar and spelling are atrocious