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sold all my stocks today

brianmanahan

brianmanahan

Lifer
enough of this stock market, i cant bear it, losing money hand over face! i just sold every stock i had and am going to put the money in a can in my freezer.
 
Smart... sell it all when it's at its lowest price. That's how you make money folks! Take it from the OP!
 
It seems like just last week (it was last week) I was asking where should I park my 401k funds to ride out the debt limit fiasco. Treasuries didn't seem to wisdomful being the object of the debate so I just left well enough alone. 🙁 No point steering now.
 
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I jsut can't stand having hard earned money invested in something where I can lose 100$ or more in a day, thats way more than I get payed in a day!
 
brianmanahan said:
I jsut can't stand having hard earned money invested in something where I can lose 100$ or more in a day, thats way more than I get payed in a day!
Click to expand...

Then maybe you shouldn't have invested in riskier assets. You can always buy CDs and bonds if you're risk averse. And if you're worried about individual stocks, buy index funds.
 
brianmanahan said:
I jsut can't stand having hard earned money invested in something where I can lose 100$ or more in a day, thats way more than I get payed in a day!
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What?

Then be more careful with your money. If you make so little, how do you even have extra cash to waste on the market?
 
Stocks are like a very long term slot machine. Be ready to lose it. But hope you win big, just don't count on it.

I don't understand why people get so depressed over this. If you actually put your entire life savings into this, then it's your fault.

I have RRSPs which are partially mutual funds, but it's very long term, and as I get older, they'll slowly get transferred to no risk savings. That's the best of both worlds.

If anything, right now is the time to buy. But at least keep what you have, it will eventually go back up again.
 
brianmanahan said:
I jsut can't stand having hard earned money invested in something where I can lose 100$ or more in a day, thats way more than I get payed in a day!
Click to expand...

You already saw the downswing and already had the stocks bought... why not wait until the next upswing to sell to at least make some money? If anything I would have bought more just because it's so low.
 
NEVER sell in a sell-off, that's how TEMPORARY loss on paper becomes PERMANENT.

Look at 08, people sold stocks at 1/3 of their worth in panic mode, wait it out. STOCKS is not as liquid as cash, especially when you are down and want to wait it out. Thus you should NEVER put money that you plan to use in the immediate future in stocks. In fact, I recommended only putting in an amount that you aren't going to miss for the next 2-3 years.
 
gorcorps said:
You already saw the downswing and already had the stocks bought... why not wait until the next upswing to sell to at least make some money? If anything I would have bought more just because it's so low.
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I love comments like these. It's SO LOW, it could NEVER go lower. Buy now, it's a steal! LOL.

Dow

Closing Today: 11,383

12 month low: 10,000
24 month low: 9,100
36 month low: 6,600

Sure seems like it has a HUGE downward potential to me, but what do I know. :whiste:
 
Lifted said:
I love comments like these. It's SO LOW, it could NEVER go lower. Buy now, it's a steal! LOL.

Dow

Closing Today: 11,383

12 month low: 10,000
24 month low: 9,100
36 month low: 6,600

Sure seems like it has a HUGE downward potential to me, but what do I know. :whiste:
Click to expand...

Yes yes... it can always get worse and all that.
 
IronWing said:
It seems like just last week (it was last week) I was asking where should I park my 401k funds to ride out the debt limit fiasco. Treasuries didn't seem to wisdomful being the object of the debate so I just left well enough alone. 🙁 No point steering now.
Click to expand...

I've been putting it off also. Fuck!
 
brianmanahan said:
I jsut can't stand having hard earned money invested in something where I can lose 100$ or more in a day, thats way more than I get payed in a day!
Click to expand...

Dude, you didn't lose a dime until you cashed out. These are long term investments, you need to think long term. Now is the time to increase those 401K and mutual fund contributions, not cash out. Cheaper shares, bigger return when the share price goes back up.
 
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