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austinhippie (70.80)

Market Bounce Dashes Expectant Investor Hopes



July 17, 2008 – Comments (2)

Is anyone else out there thinking that this market bounce today is a little depressing?  I find myself both a little excited to see my CAPS score jump by about 45 or 50 points in one day and to see my real portfolio up.  But mostly I wish I had a little longer to add to my holdings at attractive prices.  I hope today's bounce is just due to a large influx of automatic investments associated with mid-month pay days. 

2 Comments – Post Your Own

#1) On July 18, 2008 at 12:39 AM, motleyanimal (38.31) wrote:

Shorts are unhappy as they are being forced to cover bank stocks they thought they could drive down to zero.

People long on natural gas are unhappy because the cyclical nature of gas is still true, there is no shortage and supply will grow for the next 3 months.

People long on oil and other commodities are unhappy as they realize that when economies slow down, so does consumption.

But I'm not unhappy, because good ole George signed an unemployment extension which I will get even though I haven't worked since 2006.


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#2) On July 18, 2008 at 4:42 AM, DemonDoug (30.80) wrote:

no worries austin, we've got another 20-40% down on the S&P before we bottom out, although when you see huge drops (especially in one week), it's not a bad idea to enter into a long position if you see a stock that you love that has breached it's 52 week low (I recently did this with MMM and VE).

I'm not advocating you buy these stocks but rather that if you see one you really believe in fundamentally, dipping your toes in might not be a bad idea.

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