How to handle Gigantic ups and downs in this market
Since I am a moron.... This is basically a call to the investment community to share their advice.
The way I see it....I know ZILCH about Options.... ZILCH about shorting and I don't want to get into shorting even if I was Albert Einstein or the founder of Shorting.
So... How does one handle things when your portfolio gains $1,000 on Monday and loses $1,000 on Tuesday? Sorta like when the market shoots up 500 points, you fully expect a huge point decline.
Jim Cramer wants his audience to sell today when everyone's profit taking.
Common sense tells me that those who profit take already took profits yesterday when the market was up 500 points.
My strategy remains the same. Jim Cramer is full of it. He is wrong.
Newbies in the market must adhere to a simple rule....
When everyone's buying up your stock to a glorious profit.... You Sell!
When everyone the next day is profit taking, shorting, selling your stock.....You Buy!!
Greedy when everyone's fearful.
Fearful when everyone's Greedy.
And Jim Cramer claims he takes the Waren Buffet approach? Why hasn't Jim Cramer been fired yet?
Now... If you chose NOT to take any shares off....NOT to profit take yesterday.... Maybe you were simply busy and couldn't do so... Whatever... You certainly don't profit take on a day the market drops 200+ points.
You either wait for the next rally.... Or you set up a SALE at your stock's current market price and sit on that sale for the next rally.
Am I wrong? Is Jim Cramer Wrong?