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Posted: 6/26/2002 9:57:24 AM EDT
I just got off of the phone with my broker after selling all of my stock. I am luck that I am still making a small profit on my stock and that I need what I'm getting from it. My stocks were currently up an average of 11.4 per share so I didn't fair too bad. Is anyone else doing this or are you all just gonna wait it out and see what happens? Jake
Link Posted: 6/26/2002 10:01:57 AM EDT
Link Posted: 6/26/2002 10:04:02 AM EDT
Buy low, sell high! Actually, it's a long term investment for me, I've already made lots in hte late 90s, some will disappear, but it ALWAYS comes back.
Link Posted: 6/26/2002 10:05:36 AM EDT
I am buying in on mutual funds but am looking over my individual investments in tech stocks. Some of these companies are going to rebound, but I think the sector will continue to be down this year.
Link Posted: 6/26/2002 10:07:34 AM EDT
Originally Posted By GSG9: *snip*My stocks were currently up an average of 11.4 per share so I didn't fair too bad.*snip* Jake
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Mine isn't exactly bottoming, it's actually up .33 just today. Jake
Link Posted: 6/26/2002 11:56:20 AM EDT
I'm going to be adding significantly to my positions in the near term. And why not? the market is still fairly low. Worldcom might even force it a bit lower over the next couple of weeks as a few other companies get hit by the effects of this. So if you are lucky, you'll be able to buy some of your investments back at a lower level. If not...well, congrats you made 11%.
Link Posted: 6/26/2002 11:58:15 AM EDT
I only have one individual (DVNT) stock that I have held for a looooong time. Sadly, even though I have made money from it over the years, it looks like it may not survive the telecom sectors recent decline. I bought some in 1998 (1.00-1.50) and sold it at 47.00 per share in 2000. All my current shares are 'free' shares that I did not sell. The company keeps trying to make a buck, but it looks like delisting is next. I am selling mine to avoid losing any remaining value. I will probably invest in a couple of Preban ARs with the proceeds. TRG
Link Posted: 6/26/2002 12:24:39 PM EDT
No. I would never sell my stock when the market is like this! I have been considering boosting my 401(k) contributions. It's all paper loss, until you sell!
Link Posted: 6/26/2002 12:29:18 PM EDT
Link Posted: 6/26/2002 1:36:06 PM EDT
I dont know who is gonna accurately call the bottom on this..8500 DOW? The sheer volume of trading the last 25 minutes today was staggering imo The Fed of course reveled it was staying the course with an ever so slight loosening bias in Aug if events were of a catastrophic nature...looking to raise rates in Dec... The rate increase having been stalled for a number of months now. Meanwhile the printing presses are crankin out greenbacks.. [url]http://cbs.marketwatch.com/news/story.asp?siteid=mktw&dist=mktwmore&guid=%7BBA2F7BBE%2D1121%2D40A2%2DB13A%2DDF4E23A659­DB%7D[/url] Here is a little more optimistic news...for bottom feeders...with a caveat..the bottom still uncertain..
Link Posted: 6/26/2002 2:16:21 PM EDT
Originally Posted By 9divdoc: The Fed of course revealed it was staying the course with an ever so slight loosening bias in Aug if events were of a catastrophic nature...
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LMAO! His interest rate cuts that started January 2001 haven't seemed to help much. Anyone who buys on the hope that cutting interest rates will boost stock prices probably still buys on analysts' recommendations, too. Japan's had 0% interest rates for years and it doesn't make the bad loans and debt go away. Greenspan's in a corner and impotent.
looking to raise rates in Dec... The rate increase having been stalled for a number of months now. Meanwhile the printing presses are crankin out greenbacks..
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Low interest rates, increasing money supply, foreign investors leaving...all resulting in a crashing dollar. Greenspan is fighting deflation, so he can't stop printing money. He can't raise interest rates to shore up the dollar, because doing so would nail the economy's coffin shut. Checkmate, Alan.
Link Posted: 6/26/2002 2:37:46 PM EDT
[Last Edit: 6/26/2002 2:47:10 PM EDT by 5subslr5]
Sounding more and more as if it's getting time to buy. The Fed is likely to cut interest rates one more time and then will come in with the first increase in a while. The market will head south on this news and then it will be time to buy. Buy on bad news-sell into good. (Wish I had thought to say that first !)
Link Posted: 6/26/2002 2:41:20 PM EDT
Link Posted: 6/26/2002 2:49:51 PM EDT
Originally Posted By thedave1164: I have been trying to buy WorldCom all day, but trading has been halted for wcom. I am wanting to pick up about 5000 or more shares, maybe tomorrow. It will go up again.
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Amazing. Why do you believe that?
Link Posted: 6/26/2002 2:52:20 PM EDT
Originally Posted By raven:
Originally Posted By thedave1164: I have been trying to buy WorldCom all day, but trading has been halted for wcom. I am wanting to pick up about 5000 or more shares, maybe tomorrow. It will go up again.
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Amazing. Why do you believe that?
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raven, the balance sheet 'cash' just about equals the current market cap. (Just one reason.)
Link Posted: 6/26/2002 2:52:52 PM EDT
I'm thinking of increasing my 401k contributions to the max. It's almost there now. I have no intention of getting out of the market any time soon.
Link Posted: 6/26/2002 2:53:05 PM EDT
Right on Torf [beer]
Link Posted: 6/26/2002 2:54:52 PM EDT
I get 7% on my mobney, no matter what. Market crash, chinese invade, mars attacks, I get 7%, every year, set your clock by it, I'm retiring at 42 how about you?
Link Posted: 6/26/2002 3:18:23 PM EDT
Originally Posted By 5subslr5: raven, the balance sheet 'cash' just about equals the current market cap. (Just one reason.)
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The market cap is something like $2.5 billion. They've got $30 billion in debt. All the big banks are up to their ears in bad loans to Argentina, Enron, WorldCom, Global Crossing, and the like. They cut off further short-term loans a month ago, so it's going to be hard for them to work out a debt deal. Why would you buy into a company in an industry where profits are dismal, and any earnings have to go to pay enormous debt? Where's the upside?
Link Posted: 6/26/2002 3:19:45 PM EDT
Originally Posted By AR15fan: I get 7% on my mobney, no matter what. Market crash, chinese invade, mars attacks, I get 7%, every year, set your clock by it, I'm retiring at 42 how about you?
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[beer]
Link Posted: 6/26/2002 3:23:59 PM EDT
Originally Posted By raven:
Originally Posted By 5subslr5: raven, the balance sheet 'cash' just about equals the current market cap. (Just one reason.)
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The market cap is something like $2.5 billion. They've got $30 billion in debt. All the big banks are up to their ears in bad loans to Argentina, Enron, WorldCom, Global Crossing, and the like. They cut off further short-term loans a month ago, so it's going to be hard for them to work out a debt deal. Why would you buy into a company in an industry where profits are dismal, and any earnings have to go to pay enormous debt? Where's the upside?
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The 'bet' is the secured lenders want to keep the company out of Chapter 11. I'm not advocating this stock and certainly not for widers and orphans but for the cost of 5,000 shares............. (Earnings will go to pay interest - not debt.)
Link Posted: 6/26/2002 3:26:27 PM EDT
Getting out? Nope. It's a buying opportunity. Buy in the way down. Buy on the way up. Buy. Getting out of the market is, historically, a bad idea. Sure it looks bad, and consumer confidence is low, but the historical trend is up. The economy, investors, and companies are jittery because of terror threats; and, I believe it will get worse before it gets better, but it will get better. Getting out, unless you're retired and have to have assets, other than salary, to live, takes too short a view.
Link Posted: 6/26/2002 3:27:05 PM EDT
Originally Posted By AR15fan: I get 7% on my mobney, no matter what. Market crash, chinese invade, mars attacks, I get 7%, every year, set your clock by it, I'm retiring at 42 how about you?
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Care to share how?
Link Posted: 6/26/2002 3:52:39 PM EDT
Originally Posted By anti-gov-tinfoil-man:
Originally Posted By AR15fan: I get 7% on my mobney, no matter what. Market crash, chinese invade, mars attacks, I get 7%, every year, set your clock by it, I'm retiring at 42 how about you?
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Care to share how?
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How I get 7%? There are lots of fixed return investment options out there. Jumbo CD's, US Govt bonds, ect. How I'm retiring at 42? Ive never taken a student loan, I've never carried a balance on a credit card. I buy new cars, pay them off within 2 years and drive them for 5 to 10. I've always maxed my deferred compensation plan contributions & Roth IRA. I spend significantly less than I make every month. I have avoided the modern day wealth stealer (divorce). About 10 months after my 42nd birthday I can start drawing a pension from my current employer. My father retired at 45, he worked 3 years to long! I laugh at people who say retiredment in their 50's or 60's is "early retirement".
Link Posted: 6/26/2002 4:08:34 PM EDT
When you like what you do, why retire? I like my job....and they even PAY me to be here! My wife is real nice, but home with her ALL DAY EVERY DAY, are you kidding?!?!? But, I will be able to retire, with a full retirement, health insurance, etc at 50. I am not so sure that I want to retire that early. TRG
Link Posted: 6/26/2002 4:21:38 PM EDT
THis is not the time to sell, it is the time to *BUY*, as big as you can, as much as you can. There are bargains everywhere...just waiting for you to pick them up. In 5 to 10 years you will easily make 250-300%.
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