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IBDvalueinvestin (99.68)

All Hell is Breaking loose, market down to 1997 Levels. Then you got all the brainiacs on TV

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February 23, 2009 – Comments (7)

saying that if we break the current lows we are headed for another 2000 point drop in the DJIA.

 That would be 5,000 DJIA. If that happens then all the gains of the last 30 years would all be wiped out.

7 Comments – Post Your Own

#1) On February 23, 2009 at 1:06 PM, IBDvalueinvestin (99.68) wrote:

CASH is king until a bottom is confirmed. The only people long today are fund managers that have no choice but to stay long due to their fund's policy rules.

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#2) On February 23, 2009 at 1:19 PM, Brainsliver (< 20) wrote:

A Cash RESERVE is king.  But if you think you can 100% accurately guess the bottom and plow in before the rise, you have a 99% chance of deluding yourself.

 Dollar cost averaging is the game.  Every week I'm shifting more and more to a long position

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#3) On February 23, 2009 at 1:27 PM, Imperial1964 (97.75) wrote:

I started looking to buy again today for the first time this year, though I think you're right that we aren't at the bottom.

I've got a low-ball limit order out there for some MO right now.  Keep dropping...  Keep dropping...

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#4) On February 23, 2009 at 1:47 PM, IBDvalueinvestin (99.68) wrote:

Today was more long massacres :

Look at highs based on current prices, most longs got massacred today:

WFC $12.95 now 10.98

KDN $29.77 now 26.65

POT $86.65 now  78.42

GLF $24.05 now 21.84

MOS $44.47 now 38.60

 

 

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#5) On February 23, 2009 at 1:54 PM, maxhoffa (< 20) wrote:

*But if you think you can 100% accurately guess the bottom and plow in before the rise, you have a 99% chance of deluding yourself.*

 you don't have to guess the bottom.  you just have to be willing to trade the prospect of riding a 500-2K point loss for the prospect of losing a 500 point gain.  at worst, you're even.  at best, you start out 1500 points ahead.

 

market is down again today.  fundamentals are still poor.  there is just no reason to get invested right now.  tomorrow might be different, or next week, or next month.  but to just say get in and average down with the market . . . i don't get it.  why not wait for the turn and average up?   

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#6) On February 23, 2009 at 1:56 PM, IBDvalueinvestin (99.68) wrote:

Average up sounds better to me then average down.

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#7) On February 23, 2009 at 2:35 PM, maxhoffa (< 20) wrote:

*But if you think you can 100% accurately guess the bottom and plow in before the rise, you have a 99% chance of deluding yourself.*

 you don't have to guess the bottom.  you just have to be willing to trade the prospect of riding a 500-2K point loss for the prospect of losing a 500 point gain.  at worst, you're even.  at best, you start out 1500 points ahead.

 

market is down again today.  fundamentals are still poor.  there is just no reason to get invested right now.  tomorrow might be different, or next week, or next month.  but to just say get in and average down with the market . . . i don't get it.  why not wait for the turn and average up?   

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