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I love this market!

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November 19, 2007 – Comments (4)

So much better than that everything-to-the-moon market of a few months back. I just sold a couple more quick 30% gainers today. Those gains, of course, came because people overreacted to news on these stocks weeks or months back.Digging for the next likely score...

Falling prices... now THAT's how you make your money.

4 Comments – Post Your Own

#1) On November 19, 2007 at 8:26 PM, abitare (34.59) wrote:

A great day to have had the right positions. 

I had my first +450 day today. But I slept in, and did not capitalize on the stock market activity.

It goes back to Warren Buffet’s belief that people may have the information, but do not act on the information or over react to information, which makes the market inefficient. I think it was Buffett?

Tomorrow GME reports. I am short GME and I have been battleing the GME pumpers and shills, to which there is an unending supply. Although I hate to lose money, if the stock goes up, I hate to lose the verbal battle with the shills almost as much.  

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#2) On November 19, 2007 at 10:09 PM, cluelessmorgan (93.43) wrote:

I'll be up all night bargain window shopping for the AM. 

I don't care if its a Bull, Bear, or Ostrich market (I lean towards Ostrich - with its head in the sand) there's some serious overselling going on and a lot of bargains out there and money to be made.

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#3) On November 19, 2007 at 11:10 PM, MakeItSeven (32.34) wrote:

I love tough market which dazes the pump monkeys.  I hedge my account so I can make profit regardless which way the market goes so I don't really mind if the market moves up or down.  However, I get a little tired of the "the bulls are at full strength, the Dow will go to soon" (whenever the market moves up) and "there's so much pessimism, the market has to be oversold, the correction is over and the market has to move up from here" (whenever it goes down as little as 5%).  It always go up, up, and up.

As for the fundamental, with next year PE at 15.1, the US stock market is not cheap compared to emerging markets with much faster growth rate and without the mortgage/credit/Level 3 asset minefield.

Now, the only bubble I would like to see blown up is the Chinese stock market.  There is some of that today too :).  Very nice day overall.

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#4) On November 20, 2007 at 1:03 AM, FleaBagger (29.66) wrote:

I agree. I'm nibbling at ETFC and tiny wonder UUU (which is not rateable in CAPS). But there are so many to choose from! I feel like a kid in a candy store...

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