sold all my stocks today

[Printer Bandit]

 

[tonygeor]

Great advice

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.

 

[gevorg]

Buy high, sell low.

 

[disappoint]

Did you just double dip?
I just saw you double dip that chip!

 

[Kadarin]

More potentially good advice: Find out what Jim Cramer advises, and then don't do that.

 

[Whoozyerdaddy]

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.

*trollin'... trollin'... trollin'...* FISH ON!!!! :awe:

 

[boomhower]

Stocks go up and down. If you sold out just because their going down you don't have the stomach for it. Stick to CD's. I look at over the long haul. I've got a good 30 years before I am going to touch mine It's going to take massive swings up and down in that time, I'm not going to bail every time it swings. Keep it balanced and as you get closer to retirement age start winding down out of stocks. I don't have the knowledge, expertise, or the time to learn how to do it so I do rely a lot on my provider. They've done well so far, it re-balances every quarter and winds out of stocks as I get older. I've lost 15% in the last week, big woop. I'm buying more cheaper now.

 

[Whoozyerdaddy]

Stocks go up and down. If you sold out just because their going down you don't have the stomach for it. Stick to CD's. I look at over the long haul. I've got a good 30 years before I am going to touch mine It's going to take massive swings up and down in that time, I'm not going to bail every time it swings. Keep it balanced and as you get closer to retirement age start winding down out of stocks. I don't have the knowledge, expertise, or the time to learn how to do it so I do rely a lot on my provider. They've done well so far, it re-balances every quarter and winds out of stocks as I get older. I've lost 15% in the last week, big woop. I'm buying more cheaper now.

Oh wow! Another one!!! FISH ON!!!!!!!!!!!! :awe:

 

[dmcowen674]

Everyone should lose all their money in the Monopoly Market

 

[Craig234]

I'd like to hear one person who is not only criticizing but even attacking him because he's 'selling low' provide evidence proving the market will now not go down further.

Oh, you can't?

Who are they to say he isn't selling before it goes down more? No one knows.

Sure it'll presumably come back eventually. But why ride it down?

It was down 4.3% yesterday; but down 10% the last 10 days. Nice to have sold 'low' earlier?

 

[OBLAMA2009]

way to lock in those losses....congrads on doing exactly what youre not supposed to do

 

[gorcorps]

I'd like to hear one person who is not only criticizing but even attacking him because he's 'selling low' provide evidence proving the market will now not go down further.

Oh, you can't?

Who are they to say he isn't selling before it goes down more? No one knows.

Sure it'll presumably come back eventually. But why ride it down?

It was down 4.3% yesterday; but down 10% the last 10 days. Nice to have sold 'low' earlier?

Because he already has the stocks. The money was already invested, and he didn't have to lose anything... He just chose to. Who cares if he rode it to the bottom? Don't sell there either. Things bounce around like crazy. The only way it was a smart move is if he really needed the money he got from selling it, so he couldn't wait for an upswing. Otherwise, well, patience is a virtue few have anymore.

 

[jupiter57]

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?

OP is just trolling.
He is 15, his allowance is $20 week.
His Daddy probably lost $100 in one day, so he (like so many other basement dwellers here) thought he would make a "Manly" post.

 

[HeXen]

I'd like to hear one person who is not only criticizing but even attacking him because he's 'selling low' provide evidence proving the market will now not go down further.

Oh, you can't?

Who are they to say he isn't selling before it goes down more? No one knows.

Sure it'll presumably come back eventually. But why ride it down?

It was down 4.3% yesterday; but down 10% the last 10 days. Nice to have sold 'low' earlier?

why then do the finanical wizards not sell low? if they don't then it can't be a good idea. you ride it out till its nothing or something, you don't lose on stocks till you cash out or its gone completely.

 

[SP33Demon]

The first thing they teach you in Econ 101 is that the market is robust. Go back to college. We may be stuck on a plateau for the next 10 years but it will eventually go back up. Long term it's stupid to sell your stocks at their all time low unless you're flipping it into a solid short term investment.

 

[z1ggy]

So you sold your entire $500 portfolio?! You poor thing. Don't put the money in the freezer though, that's the first place an intruder will look.

 

[dud]

What's the story on the OP? I do not spend a lot of time on the forums but whenever I see the OP posting he causes a stir. Is he really 15, an adult who foolishly posts facts about his personal life, a troll ... or a combination of these?

 

[Regs]

The first thing they teach you in Econ 101 is that the market is robust. Go back to college. We may be stuck on a plateau for the next 10 years but it will eventually go back up. Long term it's stupid to sell your stocks at their all time low unless you're flipping it into a solid short term investment.

Yes, but this is like predicting the weather and saying, "We might not all die from the next ice age".

 

[hanoverphist]

"hand over face"? or "hand over fist"?
and don't worry, OP, you can always sell your witty poems to get by...

you rang?

😛

 

[FDF12389]

What's the story on the OP? I do not spend a lot of time on the forums but whenever I see the OP posting he causes a stir. Is he really 15, an adult who foolishly posts facts about his personal life, a troll ... or a combination of these?

He's just an obvious troll.

 

[IceBergSLiM]

There is no indication anything will get better any time soon. So I think the op made a good move cutting any losses.

 

[Thump553]

There is no indication anything will get better any time soon. So I think the op made a good move cutting any losses.

In the first five minutes today the market is up 133 points. July's employment report came in way better than expected and June's figures were also revised upward.

That is not to say all will be roses, but gloom and doom panic is not justified. A decision made in panic is usually a bad one.

 

[HardcoreRobot]

What's the story on the OP? I do not spend a lot of time on the forums but whenever I see the OP posting he causes a stir. Is he really 15, an adult who foolishly posts facts about his personal life, a troll ... or a combination of these?

My guess is bored loser on summer vacation

 

[IceBergSLiM]

In the first five minutes today the market is up 133 points. July's employment report came in way better than expected and June's figures were also revised upward.

That is not to say all will be roses, but gloom and doom panic is not justified. A decision made in panic is usually a bad one.

what does the jobs report have to do with increasing our debt? What does it have to do with QE3 on the horizon? What does it have to do with unemployment benies expiring? What does it have to do with any of the other more important indicators that we are on a bullet train speeding towards a wall?

The +133 today was an expected correction from yesterday but it changes nothing of the direction we are heading.

EDIT: looking at the market now...that correction has been wiped out already. Look I'm not a market guru at all. I dont even know what shorting stocks means but if I can see the writing on the wall then people far more savvy than me also can.

 

[shadow9d9]

In the first five minutes today the market is up 133 points. July's employment report came in way better than expected and June's figures were also revised upward.

That is not to say all will be roses, but gloom and doom panic is not justified. A decision made in panic is usually a bad one.

And then the market dropped from up 133 to down 75...