Throughout our recent history, every single decline of this magnitude has resulted in a face ripping rally. Even during the darkest days of May of 2014, the high beta tech and biotech rout, that represented extreme opportunity, as many of those shares rose by 50% in the months to come. I believe a similar fate awaits the oil men in the Bakken–the young gents waking up at 4am to inject fracking fluids into the earth for the explicit purposes of becoming rich. And, as a side bonus, convert the local drinking water into a toxic incendiary cocktail of win.
I realize that you are very frightened now, scared of shadows and mugs overfilling with black smoke. But, I promise you, this will pass. As an investor, it is your responsibility to remain in the game. That means you need to measure yourself. This is not the time to be greedy, but to stay alive. There will be plenty of coin to make once the market turns. You should not be buying anything on margin or dumping large portions of your portfolios into short dated option contracts.
I have a mind for this sort of tape. I’ve been through the very worst markets the world has to offer and do not get nervous anymore. Your emotional response to loss should be equal to that of gain. One outcome is equal to the next and it must remain that way, otherwise you’ll panic out of good positions.
Let’s see how she opens and then I’ll offer some quick analysis.
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Munch is mein divine leader. Take me to heem.
This is why we come here every single day. The Fly rules!
It may be too late for that.
+1
Blue faced, holding breath!
Futures have turned around nicely in the last couple hours.
Does this happen every correction? Like the people freaking out and getting angry and whatnot?
If you just learn to not always be fully invested or beat the market, these things are not as bad.
Words to live by.
More words to live by – don’t average down a position at the expense of becoming extremely overweight. Manage your % exposure just as you would a stop.
The Doctor is in the house
Good comments. Those that always panic at a bottom are in panic mode now.
It’s Al Gore crashing the oil market…he warned everyone.
it’s a manbearpig, I told you he was real
Oil must trade to 200. Instantly everyone will be rich due to endless government handouts. After we nationalize every oil company on earth. Life will be a whirlwind of banning everything that is fun. Whining and bitching will be the only national pastime. Obviously Football will no longer exist along with testicles. Leftard utopia.
“You should not be buying anything on margin or dumping large portions of your portfolios into short dated option contracts.”
NOW YOU TELL ME! 🙂
Panic guys, panic hard. It’s over.
lol
Things would have been bad, but I was saved yesterday by a 78 year old man posting crazy letters on the internet. I’m still up 75% for the year — time to chill out.
Waiting for a Mr. DEVILDOG to address the populace of iBankCoin, via a new video, describing the coming fruition of his prophecies.
don’t panic, your gubmnt has ebola, unemployment,next 30yr war,border security,money printing,homeland groping,droughts,fracking,nuclear waste storage
ALL under control, here have some weed and BTFED(ebola dip)
#TKMR
With all the pressure on oil, could someone explain to me why PBR had such a good day yesterday? And no, I’m not talking about that crappy pisswater that Putin just bought.
If I played the drinking game when this when post was made and taking all of the subsequent comments therein, I would be flat on my back every time the word “panic” was used.
“when this when”…
Not drinking, just a cataract.
You should see me on a bike crossing at a light.