cobrafan Posted August 7, 2011 Report Share Posted August 7, 2011 At 62, I'm not going to ride this one to the bottom again. Before the opening bell, I've got the sell order in for everything. We are just back from 2008 and 2009 because we took the "experts" advise to hold. Fool me once, shame on you. Fool me twice, shame on me. Link to comment Share on other sites More sharing options...
EL SHELBY Posted August 7, 2011 Report Share Posted August 7, 2011 How to Get Rich Link to comment Share on other sites More sharing options...
William Rodgers Posted August 7, 2011 Report Share Posted August 7, 2011 Its not going to do what it did 3 years ago, I think you may be making a big mistake, but that is just me. I am not your age so I fully understand your decision. I put most of my money in Bonds before the last down-fall, I just got lucky. Link to comment Share on other sites More sharing options...
tekheavy Posted August 7, 2011 Report Share Posted August 7, 2011 At 62, I'm not going to ride this one to the bottom again. Before the opening bell, I've got the sell order in for everything. We are just back from 2008 and 2009 because we took the "experts" advise to hold. Fool me once, shame on you. Fool me twice, shame on me. I'd wait to see how the futures look tomorrow morning before making any decisions on dumping your whole portfolio. Link to comment Share on other sites More sharing options...
cobrafan Posted August 7, 2011 Author Report Share Posted August 7, 2011 I'm usually cautious and ride these bumps out. Unfortunately, all of the fundamental economic indicators are tanked. Most should know that Moody's took the easy way out and should have downgraded. They will downgrade next time as nothing will be done to control the spending in real terms. (not blaming anyone, it is a congressional issue, not a political party issue) Most layoff anouncements in July in the last 16 months. Commodity prices have not been curtailed nor is there anything that will curtail them for the remainder of the year. I really doubt the market will be going up significantly in the next 60-90 days. If it stabilizes, I can always buy back in. Perspective for the average person changes with age. I'd rather error on the part of missing the upside at this point than to be deep in the downside like 2008. Link to comment Share on other sites More sharing options...
sportscars Posted August 7, 2011 Report Share Posted August 7, 2011 Not something I have to worry about. I had my retirement portfolio 100% in AT&T and Lucent as they matched me at 50% for stock. All my eggs in one basket and the basket was ripped from my hands, thrown to the ground and stomped on by both the bull and the bear in a giant party. Oh, to be young and dumb...... Link to comment Share on other sites More sharing options...
kstrong Posted August 7, 2011 Report Share Posted August 7, 2011 I bought heavily into Canadian Equity, against all others advice for years. During 2008, 2009 I bought more. Others had funds in the U.S. I transferred my Cn. Equity months ago into the Canadian Bond market. :happy feet: We were also told months ago to stay away from the U.S. Equity shares. I suggest you buy Bonds. Wait it out. Age 62 is not too late. Link to comment Share on other sites More sharing options...
William Rodgers Posted August 7, 2011 Report Share Posted August 7, 2011 I bought heavily into Canadian Equity, against all others advice for years. During 2008, 2009 I bought more. Others had funds in the U.S. I transferred my Cn. Equity months ago into the Canadian Bond market. :happy feet: We were also told months ago to stay away from the U.S. Equity shares. I suggest you buy Bonds. Wait it out. Age 62 is not too late. Agreed, I turn 40 next month and have 87% of my funds in bonds. 3-5% is much better than the risk of losing money. Link to comment Share on other sites More sharing options...
David Hawkins Posted August 7, 2011 Report Share Posted August 7, 2011 At 62, I'm not going to ride this one to the bottom again. Before the opening bell, I've got the sell order in for everything. We are just back from 2008 and 2009 because we took the "experts" advise to hold. Fool me once, shame on you. Fool me twice, shame on me. Right now it is droping because of the Dept Ceiling Increase and the Lower Credit Grade.........................in a few Weeks all that will be in the past and the Stocks will rise again, wait until then.............. Link to comment Share on other sites More sharing options...
SteelTownStang Posted August 7, 2011 Report Share Posted August 7, 2011 Mistake! Those "loses" on paper, now become REAL loses... Link to comment Share on other sites More sharing options...
b17drvr Posted August 8, 2011 Report Share Posted August 8, 2011 SELL MORE CHEESE BURGERS! Link to comment Share on other sites More sharing options...
janetatp Posted August 8, 2011 Report Share Posted August 8, 2011 Remember you don't loose until you sell..... Link to comment Share on other sites More sharing options...
Glenn Greenwell Posted August 8, 2011 Report Share Posted August 8, 2011 It is impossible to time the market, I have a portfolio that is 60 percent in bonds and 40 percent in stocks, I have lost about 10 K in my IRA in the last couple of weeks. The closer to retirement the more you should dial back your investments if you need fixed income. At 59 I am going to go to 75/25 Man people are going to cash, but there is no dividend in cash.............. GG Link to comment Share on other sites More sharing options...
Larry T Posted August 8, 2011 Report Share Posted August 8, 2011 I would wait but you must do what is best for you ..... best of luck on your choice. Link to comment Share on other sites More sharing options...
GT500-07 Posted August 8, 2011 Report Share Posted August 8, 2011 Asia stock markets sink after US credit rating downgrade jolts global financial system http://finance.yahoo.com/news/Asian-stock-markets-sink-apf-960906676.html?x=0 Link to comment Share on other sites More sharing options...
ilmor Posted August 8, 2011 Report Share Posted August 8, 2011 I've been over 70% cash for awhile, so this recent action hasnt hurt me too much. The 30% I have in stocks and gold is going to stay there for the long term. I'm going to wait out the crashing for a couple of months then buy more stocks, but they will be of the "defensive" sort. There are going to be some real bargains out there. The stock market is a funny thing. Historically when everyone else is selling, you should be thinking about buying. However, when I'm 62, I will probably not be in stocks any longer. Link to comment Share on other sites More sharing options...
ilmor Posted August 8, 2011 Report Share Posted August 8, 2011 Thought this was interesting.....per the WSJ.... The price of gold is at parity with sister metal platinum for the first time since the end of 2008, as the yellow metal's value soars to new record highs. Spot gold reached parity with platinum as it rallied to an all-time high of $1,715.29 a troy ounce on Standard & Poor's downgrade of the U.S. government's debt rating, which amplified investor jitters over the global economic outlook. Spot platinum—although still trading marginally higher on the day—meanwhile fell as low as $1,703 an ounce, as fears over demand for the industry-linked metal kept its spot price under pressure. Link to comment Share on other sites More sharing options...
tekheavy Posted August 8, 2011 Report Share Posted August 8, 2011 Dow futures are down over 200 points. You're going to take a big hit if you sell at the open. Link to comment Share on other sites More sharing options...
SGT-C0056 Posted August 8, 2011 Report Share Posted August 8, 2011 Buy GOLD Link to comment Share on other sites More sharing options...
stormeaston Posted August 8, 2011 Report Share Posted August 8, 2011 I was gonna move my stuff into something safer a couple weeks ago when all this crap was going on...........................I'm kick'n myself now, I'll have to ride this one out. Link to comment Share on other sites More sharing options...
tekheavy Posted August 8, 2011 Report Share Posted August 8, 2011 Gonna be an ugly open, but hopefully it will stabilize after. Link to comment Share on other sites More sharing options...
MY500SS Posted August 8, 2011 Report Share Posted August 8, 2011 I've added some cash to my trading account just in case I want to do some buying. Ford could open below $10..............might see where that goes. Link to comment Share on other sites More sharing options...
jsarkis Posted August 8, 2011 Report Share Posted August 8, 2011 Remember you don't loose until you sell..... +1 Link to comment Share on other sites More sharing options...
vandy09 Posted August 8, 2011 Report Share Posted August 8, 2011 I was lucky enough to have a high school history teacher that cared more about the stocks than history so that's all we learned for 2 years. So far its paid off for me. I sold everything before the last drop and went to bonds. I've been waiting for a second dip b4 I get back in. This may be what I've been waiting for. Hope everyone does ok this week Like It was said. Its just a paper loss untill you sell. Keep ur heads up Link to comment Share on other sites More sharing options...
mywickedshelby Posted August 8, 2011 Report Share Posted August 8, 2011 with Gianna's college around the corner, I went to all bonds after the Japan earthquake/tsunami................ Link to comment Share on other sites More sharing options...
David Hawkins Posted August 8, 2011 Report Share Posted August 8, 2011 http://finance.yahoo.com/news/US-markets-fall-sharply-Dow-apf-1960115615.html?x=0&.v=12 Link to comment Share on other sites More sharing options...
stormeaston Posted August 8, 2011 Report Share Posted August 8, 2011 Down 632 pts at close............ :hammer_self: , now I gotta work another ten years. Link to comment Share on other sites More sharing options...
07SGT0547 Posted August 8, 2011 Report Share Posted August 8, 2011 Down 632 pts at close............ :hammer_self: , now I gotta work another ten years. You actually didn't plan on being able to RETIRE did you??? Link to comment Share on other sites More sharing options...
ilmor Posted August 8, 2011 Report Share Posted August 8, 2011 Whew, that was a rough ride! Link to comment Share on other sites More sharing options...
NordicShelby Posted August 8, 2011 Report Share Posted August 8, 2011 Okay I just logged into my etrade account and I am severely freaking out. I could choke my buddy who told me to buy MTG right now its worth $1.89 and I bought it with an average price of $9.00 a share and I invested in several thousand shares of it. NEVER TAKE ADVISE FROM A FRIEND on investing.......This really suckssssss. I also bought Ford when it was $11.15 and now its $9.93 Thank GOD I only bought 50 shares of it. Okay this is a buyers market I might take my STASH cash and buy some Ford Stock to make up for my loss. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.