Here is an idea, istead of holding on to the portfolio and letting it flucaute hoplessley and probably down, sell the stocks you think are the worst and keep the once you like if any, a 50K lose is a lot better then an 80K one. This is a situation which poker players call going on tilt, after you lose a few hands you go all in out of hopelessness. If you can save a couple of thousand by stopping the blood shed you will be much better off in the long term. Who knows maybe your better stocks will work for you. The worst think you can do at this point is not act. Good Luck
Funny you should ask. Those very large positions (built over a couple weeks AAPL/RIMM) were sold last week as they were taking a big hit. Lost profit on paper, but still sold at a gain. That's the way it is....don't hold and hope. Intra-day is much more comfortable for me.......That's where I was able to cut the size in half, execute the plan and get back on track. Still refining.
Let's just say 2007 will be an almost six figure bad beat in poker terms. This covers trading and a sizeable check I got screwed out of in January from my old business. I never played on borrowed money or margin and am cutting my losses while ahead. Big picture is I'm in a lot better financial shape than I was when I got out of college 7 years ago. Slow and steady usually does win the race. Maxing out a ROTH IRA each year, a company 401k, swing trading/position trading on the side is my style. The Ameritrade account sits. Chipping away a few hundred here or a thousand there may be the way but rather focus on a new career. You cut you losses while your ahead "long term" and move on.....
I hear ya and know many poor employees with big time 401k's in their buttletproof companies that seen their nest eggs raped. Smart ones or those in the know already bailed before the shit hit the fan. Those poor sheep with housing, financial, and their great dividend no more and companies gone to shit. The big guys will survive, while the sheep get slaughtered.
Waw.. what a great site.... so i guess i am not the only fool contemplating suicide... SO..a little about me... I graduated in engineering and was fortunate to join a company paying me 80k a year and a butt load of bonus for no reason... before starting my job, i was day trading, playing with my sign on bonus.. i did good. in 06 i got 23% return.... not bad for someone 22 years old. Anyways..got introduced to Fx trading, and i made 30k in 24 hours! i thought i was god! so my account went from 65k of my money, to 100k in 24 hours. And then... and here is the dejavu for all of you.... horror of horros, the market fell - for no good reason i assure you - and i was reduced to 20k within 40 seconds. thats 45k of my money, and 80k total... that was 2 weeks ago.. i am still depressed...but... it seems god can really take you 6ft under in no time.... I just turned 24, i've learned, i am not going to get greedy again and i will exit when my position is zero, rather than being negative 40k. I'd say, set aside a fund - i've set aside what is remaining of my account, and play with it STRATEGICALLY, and DONT TOUCH YOUR NEST...i am fortunate to be 24 and have a job that pays me 80k + a ridiculous amount in bonus.. but hey..thats just my 2 years of experience.. i still have a lot to learn... losing 45k in 40 seconds really hurts!
"Never give up, never surrender" Unless, you lose your shoes and shirt. Good luck anyway, have you looked into buying treasuries? Or just putting the money into a money market account (preferably somewhere in europe, and exchanging $ for euros).