I got raped by the market yesterday....today took what little i had left from yesterday....anyone else?

Question

my steel/mining stocks tanked BIG time. im not selling a thing....i just cant believe how bad yesterday was.

Answer 1

Just after quarter end, sector rotation....

Hedge funds taking profits.

Yes amazing.. coal tanked and that spread to all related stocks...

There is a common thesis that these trades that have worked well in the last few months, the market leaders have to fail in order that a true "bottom" is established in the markets.

I would bottom fish and scale back into these sectors in the next couple of weeks.

I got a little dinged up myself.  Quite an anomaly where you see these stocks down 10-15% in one day, but yes it happens..

Answer 2

Not me.

I don't like timing short short term but I look at the overall economy.  I do time with my Index fund, my biggest holding. Sometimes I will pull much more of my portfolio too.

I went back in at Easter and had a 5% gain, almost pocketed it but decided maybe things could get better. They were still talking about things getting better this year or soon after.

It seems almost every day they are pushing that time out further. The oil price may be the feather (rock?) that is breaking the camel's back.

I got out on Monday. I think SOMETHING has to break, has to change, before we get out of this Bear Market and back to a Bullish phase.  I am not seeing it yet. I don't hear hardly ANYBODY that has a clear vision of when conditions will improve.

At this point, despite faith in the distant future, there is nothing to even suggest we are at a bottom.

Stocks I generally determine on the propects company by company but at this moment I am down to high dividend stocks only.

Good Luck, I'm on the sidelines waiting for good news on the economy or about the market bottoming.

Heard any lately?

Answer 3

Not sure if your an investor or a trader.

Traders will (should) always use stop orders, so that if they stock drop 10% you get out.  I have no open trading positions, but will probably go back on Monday

Investors will usually buy quality, if you have a dividend payer and the company is making money, you could sit back, see where it goes, if it seems to have bottomed, buy some more

Why don't you go to MSN Money, http://moneycentral.msn.com/home.asp  and use the "investing " tab. enter your symbol and see what some of the pros think about your stock(s).  You can also use the "stock" tab and get a research report on each of your stocks.

Basically I'm a position trader, but do have some investments, everytime I think we've seen bottom, I have to look again.  How much cheaper can some of these stocks go.   I think there are some real bargins out there, but when do you buy especially with the elections going on. (I'm a conservative)

The markets go up and then they go down, they have always come back, just have to have some patience.

Good luck, hang in there

Answer 4

yes

Answer 5

BECAUSE

OF OIL ALL STOCKS ARE BECOMING

SHAKY YOUR BEST BET

HOLD ON NO MATTER WHAT

WHY?

SOMETHING HAPPEN TO ME YEARS AGO

THE STOCK PICKED UP A YEAR  LATER

6 TIMES THE PRICE.I PAID FOR IT.

HOLD IT YOU GAIN BIG TIME.....

THATS THE UP AND DOWN OF THE MARKET.

BUT BEAR WITH IT OR BE BULLISH AND LOOSE.

BEST

Answer 6

It happens.  It's all about expectations and there's no good news out there right now.

Answer 7

Diversify man, its really the only free lunch and it turns gambling into investing.

Answer 8

Why would you only hold steel/mining stocks?

A sensible portfolio includes stocks in all domestic sectors, plus bonds, cash and other investment vehicles.