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#2448714 - 02/08/18 06:18 PM Re: Market down another 1175 points... [Re: Cometstorm]
ragtopdodge Offline
master

Registered: 01/20/03
Posts: 4912
Loc: Seattle
Down down down.

Time to start buying up some stocks. Wish I had play money like that.

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#2448852 - 02/08/18 09:42 PM Re: Market down another 1175 points... [Re: ruderunner]
crackedback Offline


Registered: 02/15/15
Posts: 1176
Loc: CA
Originally Posted By ruderunner
I lost 40 large due to an advisor that would argue about how I shouldn't pull out of certain positions. He had his favorites and couldn't comprehend that others didn't agree.


If an advisor ever told me that, I'd make sure he was on the hook for any losses, ESPECIALLY if what I wanted to do would shield my funds from those losses.

After that he'd be gone in a heartbeat and someone new would be handling the account. They are advisors, not god...

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#2449013 - 02/09/18 05:12 AM Re: Market down another 1175 points... [Re: Cometstorm]
ruderunner Offline


Registered: 12/18/14
Posts: 2043
Loc: ohio
Yeah I switched a couple years ago. His favorites was Chesapeake, talked me into buying when it was near$20.

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#2449207 - 02/09/18 04:45 PM Re: Market down another 1175 points... [Re: ruderunner]
skicker Offline
Son of Doc Fiberglass

Registered: 06/09/05
Posts: 4179
Loc: Western Md.
Man if that thing was a roller coaster we would all be puking now... sick puke
_________________________
Loving all the tears... bawling

Sorry Doc...

We'll try again in 2 years...up

Edited...Looks like it will be 6 years...biggrin

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#2449270 - 02/09/18 06:52 PM Re: Market down another 1175 points... [Re: Cometstorm]
carcrazyguy Offline
master

Registered: 06/06/04
Posts: 9292
Loc: Texas
Going to spend the weekend making another list of stocks to watch Monday and Tuesday. If you look at the charts we bounced off the S&P 500 200dma. If we open Monday without dropping like a rock in the first hour or so. My plan is to buy a few good quality stocks and use today’s low as a stop loss.

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#2449398 - 02/10/18 12:04 AM Re: Market down another 1175 points... [Re: Cometstorm]
crackedback Offline


Registered: 02/15/15
Posts: 1176
Loc: CA
The down spikes late in the day were on higher volume than the run up.

Not a good sign from a price/action perspective.

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#2449419 - 02/10/18 03:02 AM Re: Market down another 1175 points... [Re: Cometstorm]
carcrazyguy Offline
master

Registered: 06/06/04
Posts: 9292
Loc: Texas
I got lucky and caught the rush of covering in a couple of stocks. The MACD and RSI were pointing towards a late day run. I was lucky and decided to take daily profits while there was some.

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#2449425 - 02/10/18 06:10 AM Re: Market down another 1175 points... [Re: Cometstorm]
360view Offline
master

Registered: 01/18/06
Posts: 4673
Loc: USA
Some people know how to make their car go faster by making the horsepower of the engine “go up.”

Some people know how make their car go faster by making the mass of the car parts “go down.”

Some people make money in the stock market when the price of shares “go up.”

Do you know 90% of the ways to make money in the stock market when the price of shares “go down?”

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#2449461 - 02/10/18 09:26 AM Re: Market down another 1175 points... [Re: Cometstorm]
carcrazyguy Offline
master

Registered: 06/06/04
Posts: 9292
Loc: Texas
I know a lot of people make a LOT of money by shorting a stock. However I look at it like this. If I buy a stock I am only at risk of losing my initial investment. By shorting a stock, your potential loses are unlimited.

I know everyone doesn’t follow the market and that (unlimited loses) did not make sense to me. But here is the example.

If you buy a stock for say, $25. It can only go to $0.
If you short a stock at say $25. It could go up to any amount at any given time for any reason. And here is what happens.....

But an investor named Joe Campbell was not so lucky when he placed a rather large short position on KaloBios Pharmaceuticals Inc. KBIO earlier this month, only to find out a day later that the shares had shot up about 800% after Turing Pharmaceuticals CEO Martin Shkreli gained control of a majority of KaloBios’ shares. Campbell says he went to bed with some $37,000 in his trading account at E-Trade on Nov. 18 and woke up to a debt of $106,445.


Edited by carcrazyguy (02/10/18 09:34 AM)

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