Mandeep Posted March 25, 2009 Posted March 25, 2009 What do you guys think? I'm sad now. I should have bought a lot more on March 6th. I missed a huge opportunity.
Uccmal Posted March 25, 2009 Posted March 25, 2009 I wouldn't get to sad.... Me thinks there will be more opportunities yet. I added some more SPY puts yesterday near the peak to protect my most recent gains.
ragnarisapirate Posted March 25, 2009 Posted March 25, 2009 What do you guys think? I'm sad now. I should have bought a lot more on March 6th. I missed a huge opportunity. there are still a ton of deals out there... don't get down, because your long term gains will still be stupendously high if you buy the right stuff.
Mandeep Posted March 25, 2009 Author Posted March 25, 2009 Ya...missed my triple on Wells and USB though. Darnit! I will buy when market dips a little lower. Next buy- GE and Swiss Re (hopefully not getting into a mess here cuz I think they service AIG).
UhuruPeak Posted March 25, 2009 Posted March 25, 2009 What technicals? Did you see how fast the markets have been bouncing? bounces like this only occur during bear market rallies, and are most definitely not sustainable. The economy is still getting worse, just the "rate of worsening" appears to be slowing down - if you make a trend out of the last month. So yes, markets are also discounting machines; but much like Uccmal, Arbitragr and the others, I wouldn't discount the possibility of a new leg down (or at least of a retest of the lows). Short term, it will probably go up a little longer since every one wants to believe the bull is alive. Long term, it will be up as well; but in the medium term (few months), who knows? Your (our) best bet is probably to focus on companies you know and like, and the price of which is low enough for your taste - there's gotta be quite a few even for picky investors me thinks
Guest Broxburnboy Posted March 25, 2009 Posted March 25, 2009 Looks like the current rally is just that... a bear market rally. The latest short interest report I have is illuminating: COMPANY MARCH 13 FEB 27 NET CHANGE PCT CHANGE ----------------------------------------------------------------------------- FIVE BIGGEST INCREASES: Citigroup Inc 998,753,223 203,334,316 795,418,907 391.19% Bank of America Corp 172,157,974 111,271,089 60,886,885 54.72% Wells Fargo & Co 156,049,848 116,063,853 39,985,995 34.45% Pfizer Inc 120,406,621 92,919,285 27,487,336 29.58% AIG 182,944,981 156,048,049 26,896,932 17.24% Looks like the short money (so far the only reliable money makers in this current environment) is bearish and doesn't believe the financial sector recovery story. Beware of technical analysis as the main tool for predicting the future ... it is mostly used to confirm one's own existing prejudices.
UhuruPeak Posted March 25, 2009 Posted March 25, 2009 Beware of technical analysis as the main tool for predicting the future ... it is mostly used to confirm one's own existing prejudices. Broxburnboy, I like to do high-level TA before making my purchasing decisions so I won't criticize fellow practitioners. I also used to do this exclusively and found out that I could make good money IFF (if and only if) I managed to put my own biases in check. Needless to say, my experience was that I'd bat 1.000 for a few days/weeks then start anticipating the market a little too much (greed) and... lose it all. In other words, I really like that comment of yours, it is spot on! :)
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