- Apr 26, 2009
- 5,807
- Boat Info
- '97 330 Sundancer, Raymarine C80 suite with radar, Mercury 310 Hypalon w/8hp Yammie 2stk
- Engines
- 2X 454 carbs w/ vDrives
Anyone going on a shopping spree for bargains?
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Falling knife. As much as I would like to buy GE, my guess is it will be split up and sold.GE is dropping towards my buy order.
Every time I hear of someone doing that I cringe. A little liquid nest egg (savings account) is the absolute minimum to get you through rough waters. If everything is going great (job is solid, bills all caught up), raid half of that and do some investing! CNBC had an article out about a large chunk of the country, if they ran into a unexpected $1000 bill for whatever, would have to borrow or put that bill on a credit card due to having no savings. My concern would be these are the same people that would mortgage their houses to get in to bitcoin.Sad for those that borrowed to invest."
Still sitting, still watching but getting closer to going back in. If I went in now I'd be buying back in well below my stop prices.Sitting on the sidelines Mike
We are in the 4th wave of the Elliot wave (I'm not an Elliot Wave expert but there are a few of them in the group I trade with). The 4th wave is always volatile. I'm more of a day trader so I don't follow longer term trends and I trade options so I can make money no matter which direction it goes. I didn't see the SPY getting as low as it did today. I was looking at the 265 or 266 level to hold but that failed to hold. Currently I'm all cash except my 401k but I did make some money today even with the falling markets.
If the Elliot Wave guys are right then the 5th wave will produce all time highs. When will the 4th wave end? Don't know but probably when the 5th wave starts...lol
No spreads, condors or straddles here. I have traded spreads before but only a few times. By 'make money either way' I mean I buy calls or puts, so I can make money whether the market goes up or down. About 90% of my options trades are in the SPY. I occasionally trade other things. Currently I am in XLE calls but down quite a bit in those but it's a small position and they expire 5/20/2018. I have a second account that I trade small caps in too.Since you make money no matter which direction a stock goes, I'll assume that you trade spreads, condors, straddles etc. Right now the only options I get involved with are selling puts and that is mostly just to build positions and lower my cost basis by collecting premium. I guess you can make money no matter which way a stock goes selling premium but that would be limited to how far a stock drops if you get assigned. The premium may not be rich enough to cover that drop. I have recently become very interested in trading spreads and condors but have never done so!
I don't know much about the Elliot wave theory but it seems reasonable.
I do know we're not at the top because way too many people are fearful. The bubble wont pop until every average joe investor is going full boat at ridiculous levels in a state of euphoria while ignoring all common sense.
Boats, Stocks, Cars.......does it get any better.
Anyway, I'm generally a buy and hold kind of guy so I'm riding the ups and downs.
Portfolio is the kids inheritance anyway so hopefully it will be a long time investment, and between me and my wife I'm the closest to a mandatory distribution from an IRA, and that's almost 6 years down the road so no worries there either.
No spreads, condors or straddles here. I have traded spreads before but only a few times. By 'make money either way' I mean I buy calls or puts, so I can make money whether the market goes up or down. About 90% of my options trades are in the SPY. I occasionally trade other things. Currently I am in XLE calls but down quite a bit in those but it's a small position and they expire 5/20/2018. I have a second account that I trade small caps in too.