I’ve been trading stocks since 2001, right after 9/11. I was nineteen at the time, and was somewhat intrigued by equities. I had no prior Wall Street knowledge whatsoever, but decided to dive head first into the game.
I made a few lucky bets in the beginning, and from that point on stocks became my passion. However, now it is 2009, and the world looks as if it is going to end.
Nobody wants a part of equities anymore, so it seems. But, in fact, this is exactly the time where you can make a few lucky bets. I started this game in a time of travesty, and made a bunch of coin doing so.
I’m willing to bet, had I been involved with stocks prior to 9/11, I would have been scared shitless to buy another stock. The key was, emotions, I had none.
Now maybe this time is different, maybe it’s not. I’m not here to say we are done going down, but I am here to say don’t forget to put away a few names while they’re on sale.
It’s easy to get caught up in emotions when we’re immersed in negative news, but controlling emotions is a huge ingredient to success.
Go into tomorrow like it was your first day trading. What would you buy? Why? After you find the answer, why not buy a little? Odds are your position will be green in a few months.
In short, we are closer to a bottom, than not– my opinion. Why not buy something?
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Here is an excerpt from Fly nightly post in The PPT:
“The key to market success is knowing when to go “all in” and when to fold. We are at a time when going “all in” can be an extremely rewarding bet, providing our Government instills an iota of confidence into the market place, which I am doubtful. In my opinion, betting on “it all going down the toilet” is a gamble not worth taking. I much rather be in cash, watching the carnage, than risking my capital into a short squeeze.”
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I cannot believe the prices on some (all?) stocks right now…
look at MGM -under $2 frickin’ dollars ! What the hell !?!
I hate overall market predictions, hate them, which is why i’m always mostly posting analyst notes/stuff/news i guess, but we do have to be near a b__tom soon, just can’t think of which companies are going to have something positive to say that will be the catalyst. Besides the obvious housing/financial data needed of course. April could be the turnaround i feel.
Asia didn’t go down too hard after the beating we took today… hmmmmm…
On another note, RIMM feels like it’s gonna get crunched tomorrow.
yes, i used that awful word ‘feel’ twice there
FCX is on my very short list for tomorrow. It broke resistance looking for a good entry tomorroe with a 30.50 stop.
Amen to starting young… I’m easily the youngest one posting on iBC at the moment, no doubt. Stocks have become an amazing way for my education to blossom into something I’ve never seen before, and I can’t even begin to tell all of you how much I’ve learned since I began trading at the beginning of November. I have learned so many lessons through getting my ass beat and my face kicked in this year that when the time comes for this market to turn around, I feel prepared. I have enjoyed listening to everyone’s insight and ideas on here, and I’m happy to be apart of the community.
FWIW — Holding GLD and USO long, and yes; I bought FAS at 3:59:46 today, and I am looking for that sucker to move like the dickens.
Check your price-volume patterns kids, I sense a lot of stocks and other positions bouncing tomorrow due to strong supports being hit.
Just a quick response to Goldie as I read through the posts. Be leary of that FCX as it broke it yesterday only to find more in the area of its high. You might find a better entry into it later next week.
RC, of all the bloggers that appear on this site, there are few I pay much attention to due to attitude. I have respect for a few of you that I feel try to convey a message of importance versus the gloom and doom.
I am also wondering if Obama bought into this PPT or his own when he said buy stocks because they are a good deal. The bounce is inevitable in my opinion, it is merely a question of how long it will last. I know alot of you track your own news blogs, programs, and columns. It appears the lack of wanting to give shares back to the rightful owners will make this possible. It may not be the end of the downfall, but I do expect a rally until about mid July. The bearish sentiment prevails, and like they say … no pain, gain.
Happy Trading,
JFF
why not buy LVS?
hey, I did not write that LVS thing… but these boxes sometimes keep different names in them..
Gonna buy some Meli down here in the $14.00 range though.
it is different this time
“it is different this time”
🙂 the 5 scariest words on wallstreet right?
WYNN taking an eternal beating, unreal 🙂
BAX Baxter is going to be a screaming buy soon, maybe around $50.50 ?
Business will be brisk @ BAX
On the topic of scientific tickers, I like TMO @ $33.40
“The key to market success is knowing when to go “all in” and when to fold. We are at a time when going “all in” can be an extremely rewarding bet, providing our Government instills an iota of confidence into the market place, which I am doubtful. In my opinion, betting on “it all going down the toilet” is a gamble not worth taking. I much rather be in cash, watching the carnage, than risking my capital into a short squeeze.”
Hmmmm…. where have I heard this before…
http://www.youtube.com/watch?v=kn481KcjvMo