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Waiting on the sidelines...

Discussion in 'Money & Finance Forum' started by Savio, Sep 24, 2008.

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  1. Sep 24, 2008 at 11:36 AM #1
    Savio

    Savio Freelance Pimp

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    How many of you are waiting on the sidelines waiting to get back in the market?

    I have a good bit of money in stocks right now but wanted to get your thoughts on if I should transfer some money over to my brokerage account and wait to get back in once the market starts to turn.
     
  2. Sep 24, 2008 at 11:40 AM #2
    VA49er

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    IMHO, now's not the time to get out of the market. Only those that are nearing retirement should do that but then again they shouldn't have much in the market anyways. I just upped my 401(k) contribution. It's a little risky but most people love a sale and I don't really see why a stock sale should be any different.

    In spite of all that, you have to be able to sleep at night.
     
  3. Sep 24, 2008 at 11:23 PM #3
    Bootay

    Bootay Poppycock

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    If you rode the downturn this far, you're probably good to hold on for the upturn that's likely coming in the next 6 months.

    I went all cash in November or so, which was great. Some quick almost day-trading hits have me at 15% gain so far this year... Meanwhile, my 401k in a retirement target fund has dropped almost exactly the amount I've put in this year...sucky year. I'd be buying back in soon myself if I wasn't spending a huge chunk on some house stuff, definitely not time to sell.
     
  4. Sep 25, 2008 at 7:59 AM #4
    jazzbluescat

    jazzbluescat superstar...yo.

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    My money-man sez to hold yore stocks, beings the Market is low, to follow the adage "Sell high, buy low." *sweat*
     
  5. Sep 25, 2008 at 9:11 AM #5
    VA49er

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    Good advice. Never a good idea to bail out at the low point. Might as well burn your money. I'm still mainly stocks but have a CD here and there. My 401k is down double digits but I'm pretty aggressive so I expected that.
     
  6. Sep 26, 2008 at 5:50 PM #6
    Bootay

    Bootay Poppycock

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    To reinforce my statement, I plunged in neck-deep today, buying tarnished bank stocks like it's going out of style. BUY LOW ON BAD NEWS!
     
  7. Sep 27, 2008 at 7:55 AM #7
    jazzbluescat

    jazzbluescat superstar...yo.

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    Going on the past ten or so years bank stocks are a winner, that and oil.
     
  8. Sep 27, 2008 at 1:54 PM #8
    VA49er

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    I had this conversation with the wife this morning. She was all freaking out over the market decreasing. I made the analagy to buying other stuff on sale and she kinda got it. I think.
     
  9. Sep 29, 2008 at 9:59 PM #9
    Bootay

    Bootay Poppycock

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    BUY MUCH LOWER ON MUCH WORSE NEWS!
    :fryingpan: :fryingpan: :fryingpan:
     
  10. Sep 29, 2008 at 10:03 PM #10
    PantherPaul

    PantherPaul Nap Enthusiasts

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    No point selling now. You haven't lost a damn thing until you sell.
     
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