Well, since I started my Roth IRA, it has been in a savings account earning pennies for 4 years. I just had it transferred over to the market on Thursday and it entered the market on Friday. I also moved over my pension plan into the market. Finally, I took most of my savings that has been earning .5% for the past decade and also tossed that in.
Time for me to ride the wave.
Time for me to ride the wave.
Capt Caveman
Lifer
- Jan 30, 2005
- 34,543
- 651
- 126
It might not be the bottom, but I will still be ahead of the others for years if it recovers back to the prior levels. It is strange, I am a gambling man by nature on a lot of things... except my retirement funds. On this I have always been as docile as a cow. But I couldn't say no when this happened.
StageLeft
No Lifer
- Sep 29, 2000
- 70,150
- 5
- 0
I think you did spectacularly, very potentially one of those things you'll never be able to repeat again in your life. The seed is now almost twice as big as if you invested at 14k, so instead of retiring with, say, $600k you'll have $1M simply because of the timing. That presumes the end of the world doesn't come, but in any case, even if we drop another 2k you're way ahead, relatively speaking.
ultimatebob
Lifer
- Jul 1, 2001
- 25,134
- 2,450
- 126
Ah Kramer.... this guy who recommend buying a Louisiana insurance stock two days before hurricane Katrina hit mainland. What a tool.
I kind of think that Cramer was being fairly honest in his comments, at that particular time.
He probably know that GS and JPM were going to issue massive margin calls on Monday, even though he chose not to share that information with his loyal viewers.
But, European countries probably knew the same, were pissed at Paulson's power play to create pre-ordained U. S. super banks that would later feed on the carcasses of depleted European banks, and got their act together, acted decisively, and in a very bold manner.
Unless it becomes manifest that we are going to have a very deep recession that is going to last well over 2 years, gotta really wonder if "the" bottom has now been put in place (even though there might be a retest at some point)...
He probably know that GS and JPM were going to issue massive margin calls on Monday, even though he chose not to share that information with his loyal viewers.
But, European countries probably knew the same, were pissed at Paulson's power play to create pre-ordained U. S. super banks that would later feed on the carcasses of depleted European banks, and got their act together, acted decisively, and in a very bold manner.
Unless it becomes manifest that we are going to have a very deep recession that is going to last well over 2 years, gotta really wonder if "the" bottom has now been put in place (even though there might be a retest at some point)...
and you guys jab at me for my reasonable predictions.
I should be off the wall like this guy though, at least he gets rich from it.
For anyone who couldn't sleep at night recently, but couldn't pull the trigger and sell, might I suggest reverse dollar cost averaging out of speculative positions / investments you don't have long term confidence in, as per this Fast Money trader's upside target of say S&P 500 1150 - 1180?: http://www.cnbc.com/id/15840232?video=888556428&play=1
Today could have been "the" bottom, though we don't know if there will be a retest, and there is still uncertainty as to whether this recession might be very deep and last well over 2 years.
(also remember that mom and pop follow the 30 stock price-weighted Dow, professional money managers follow the market capitalization weighted S & P 500 index of 500 large cap stocks)
Today could have been "the" bottom, though we don't know if there will be a retest, and there is still uncertainty as to whether this recession might be very deep and last well over 2 years.
(also remember that mom and pop follow the 30 stock price-weighted Dow, professional money managers follow the market capitalization weighted S & P 500 index of 500 large cap stocks)
blackangst1
Lifer
- Feb 23, 2005
- 22,902
- 2,359
- 126
Good for you
I bought several companies last week, and advised everyone here to...Ive gotten approx 35% NET today. Not too shabby. If I day traded Id put in a sell order for tomorrow AM.TRENDING THREADS
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