The Stock Market Is Killing Me Today! - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

dre · 10-30-2009, 11:41 AM

Anybody play the Stock Market? I am down almost 10%!
I am OK at trading, far from an expert, but today has been
the worst day in a long time for me.
Anybody else?

Phanuthier · 10-30-2009, 11:43 AM

Quote:

Originally Posted by dre

Anybody play the Stock Market? I am down almost 10%!
I am OK at trading, far from an expert, but today has been
the worst day in a long time for me.
Anybody else?

Didn't the DOW fall 200 pts a few days ago too?

Might be hurting today, but it was cause the markets were up like 10% yesterday.

red sky · 10-30-2009, 11:46 AM

Just a bit of a correction as things have been rather peachy the last while. US GDP increasing more than expected is being over shadowed by consumer confidence. Bad earnings reports continue to roll in however guidances are showing that things will be improving in coming quaters.

CrusaderPi · 10-30-2009, 11:48 AM

I'm down 1.47% C'est la vie.

CaptainCrunch · 10-30-2009, 11:48 AM

See Randall I told you we could bankrupt Dre by cornering the orange juice market

Your right Mortimer, I owe you 1 dollar.

Dion · 10-30-2009, 11:49 AM

You're only hurting if you sell.

calgaryrocks · 10-30-2009, 12:23 PM

yep, my stocks took a little hit, but i have targets for some of these stocks where i will sell them. the Canadian dollar is hurting me too as my stocks are all in the US market.

dre · 10-30-2009, 12:28 PM

Quote:

Originally Posted by calgaryrocks

yep, my stocks took a little hit, but i have targets for some of these stocks where i will sell them. the Canadian dollar is hurting me too as my stocks are all in the US market.

I need to learn the art of shorting stockes now.

macker · 10-30-2009, 12:32 PM

No big deal. We are 7 months into a mega bull market and bull markets usually last 5-7 years. Most people are still scared to get in but if you look at the technicals of the market they don't get much better. Since the bottom in March every decline has been a buying opportunity. There are a lot of things going for the market overall. You have massive stimulus, companies beating earnings, strong technicals and now you are getting economic activity. 70% of S&P companies have beaten earnings estimates on the most recent earnings. Last year you didn't want to go long the market and this year you don't want to short the market. The US GDP jumped to 3.5% and climbed at the fastest pace in 2 years. The tailwind behind the market is as good as it gets. I am not ignoring the fact that the US is running a deficit to GDP of 10% or that the global reserve currency will likely change in the next 5 years. Gold will do well in this environment and commodities are valued in US currency and it is going down so commodities are going up. Look at copper which broke through $3 yesterday. I am not sure if you are trading or investing but if you are trading the VIX will tell you this isn't the best trading environment. http://ca.finance.yahoo.com/q/bc?s=%...l=on&z=m&q=l&c=

HotHotHeat · 10-30-2009, 12:38 PM

I personally find it troubling that the US economy only grew 3.5% with over 1 trillion in stimulus injected. Also, you just know that people have ended up being able to retire from the way the market has acted recently. The US government would have been better off cutting out the middle man and handed bankers a cheque they could cash personally.

I'm left asking myself what exactly has changed in the system that makes it less likely Wall Street will pull this greedy act again.

Cowperson · 10-30-2009, 12:44 PM

Quote:

Originally Posted by dre

Anybody play the Stock Market? I am down almost 10%!
I am OK at trading, far from an expert, but today has been
the worst day in a long time for me.
Anybody else?

If you are wringing your hands or lying awake at night staring at the ceiling then you should revaluate your risk tolerance and adjust your asset mix to something less exciting.

Managing your emotions is job one. Once you've figured out what you can tolerate in a worst case scenario, then the investment decisions will flow a lot easier. Make your life as exciting or as boring as you need it to be to be happy.

Or keep squealing like a little girl everytime somebody coughs on the other side of the world.

Cowperson

dre · 10-30-2009, 12:46 PM

Quote:

Originally Posted by macker

No big deal. We are 7 months into a mega bull market and bull markets usually last 5-7 years. Most people are still scared to get in but if you look at the technicals of the market they don't get much better. Since the bottom in March every decline has been a buying opportunity. There are a lot of things going for the market overall. You have massive stimulus, companies beating earnings, strong technicals and now you are getting economic activity. 70% of S&P companies have beaten earnings estimates on the most recent earnings. Last year you didn't want to go long the market and this year you don't want to short the market. The US GDP jumped to 3.5% and climbed at the fastest pace in 2 years. The tailwind behind the market is as good as it gets. I am not ignoring the fact that the US is running a deficit to GDP of 10% or that the global reserve currency will likely change in the next 5 years. Gold will do well in this environment and commodities are valued in US currency and it is going down so commodities are going up. Look at copper which broke through $3 yesterday. I am not sure if you are trading or investing but if you are trading the VIX will tell you this isn't the best trading environment. http://ca.finance.yahoo.com/q/bc?s=%...l=on&z=m&q=l&c=

I take it you trade via technical analysis or both? I have not traded commodities in months now, should have since gold hit an all time high. I am still an amature trader. I have not followed the VIX, heard about it, and should look into it. I always thought , if I managed to make money in the last 10 months, imagine what I could do when the bull market
shows its face. I have A LOT of learning to do.

dre · 10-30-2009, 12:57 PM

Quote:

Originally Posted by Cowperson

If you are wringing your hands or lying awake at night staring at the ceiling then you should revaluate your risk tolerance and adjust your asset mix to something less exciting.

Managing your emotions is job one. Once you've figured out what you can tolerate in a worst case scenario, then the investment decisions will flow a lot easier. Make your life as exciting or as boring as you need it to be to be happy.

Or keep squealing like a little girl everytime somebody coughs on the other side of the world.

Cowperson

You are completely right about that. That is the number 1 rule. I never lose sleep over this.I want to move to Florida just so I can get a couple more hours of sleep before the bell rings. I get upset, learn from my trade and move on. Regardless if I lose 10% or make 10%.

macker · 10-30-2009, 01:01 PM

Quote:

Originally Posted by HotHotHeat

I personally find it troubling that the US economy only grew 3.5% with over 1 trillion in stimulus injected. Also, you just know that people have ended up being able to retire from the way the market has acted recently. The US government would have been better off cutting out the middle man and handed bankers a cheque they could cash personally.

I'm left asking myself what exactly has changed in the system that makes it less likely Wall Street will pull this greedy act again.

The US is running a deficit to GDP of 10% and here in Canada we are just around 1% so I guess that explains our weak GDP number. Greenspan is speaking in Calgary on November 9th and he will be the first person to tell you that the greedy act will repeat itself as "it is a flaw of human nature". I have to believe he is telling the truth

I would also add that Wallstreet is set to pay $140 billion in bonuses this year which is a new record.

MJK · 10-30-2009, 01:02 PM

I have been sitting on some cash for awhile now waiting for another good opportunity to buy. I am thinking I am close with the markets taking a plunge the last few days.

Slava · 10-30-2009, 01:25 PM

Quote:

Originally Posted by MJK

I have been sitting on some cash for awhile now waiting for another good opportunity to buy. I am thinking I am close with the markets taking a plunge the last few days.

I am the furthest thing from a day trader around (so I can't really relate to some of the comments in this thread) but there are some fantastic deals out there now. I wouldn't want to be holding that cash into the new year!

macker · 10-30-2009, 01:33 PM

Quote:

Originally Posted by Slava

I am the furthest thing from a day trader around (so I can't really relate to some of the comments in this thread) but there are some fantastic deals out there now. I wouldn't want to be holding that cash into the new year!

Yep. Every asset class (except tresuries) collapsed last year so all they are doing is going back up and the reality is that they should. I would still stay away from bonds though as interest rates are basically set by the US and they aren't going to be able to hold down interest rates going forward!

Slava · 10-30-2009, 01:43 PM

Quote:

Originally Posted by macker

Yep. Every asset class (except tresuries) collapsed last year so all they are doing is going back up and the reality is that they should. I would still stay away from bonds though as interest rates are basically set by the US and they aren't going to be able to hold down interest rates going forward!

The time for bonds was last Sept. I think not buying equities of some sort in these dips is a mistake. It's not that you can buy anything, but with some good research and attention to fundamentals you can do well.

I should've known from our past conversations on this board that you would be a guy who follows the technicals though macker! I put almost zero reliance on drawing lines on a chart, but what ever works for you I guess.

MoneyGuy · 10-30-2009, 03:17 PM

Quote:

Originally Posted by dre

Anybody play the Stock Market? I am down almost 10%!
I am OK at trading, far from an expert, but today has been
the worst day in a long time for me.
Anybody else?

If you're typical on this site, you'll be in your 20s or 30s. If so, why the heck do you care what the market does in one day? It's totally irrelevant for your long-term money. Crap, man, I don't get it. I'm roughly the age of the parents of most of the posters around here and I don't care. In fact, I'm buying. I've been in this business for a long time and this is one thing I've will never understand.

I. Don't. Get. It.

This isn't meant as a slam so please don't take that out of my comments. I hear this all too often and it makes no sense to me.

DuffMan · 10-30-2009, 04:07 PM

down - mon, tues, wed, thurs.
up - thurs.

next week will be better.