Is It Panic If My Broker Tells Me to Get Out?

[FIREd]

What a great "blue light special"!!!

I just bought more Wellesley (VWIAX), Total Stock Market Index (VTSAX), and FTSE All-World Ex-US (VFWIX).

I bought with funds from my VMMXX (Prime Money Market) account at 8:05 Eastern Time. I don't know if I got today's closing rate, though, since I bought at 8:05 PM Eastern Time. That might be too late. (?)

But then, the market might plunge more on Monday so it could be a good day for buying, too.

You will get the price as of Monday's close on your new purchases. To get the day's prices you have to buy before the market closes on that day (usually 4:00 pm ET).

I sold 1/3 of my bear market fund on Monday and used the proceeds to buy more VTSMX (total stock market index) and VGTSX (total Int'l stock index) today. I also used new money to buy more VEIEX (emerging markets) and NAESX (small cap index) today.

 

[W2R]

You will get the price as of Monday's close on your new purchases. To get the day's prices you have to buy before the market closes on that day (usually 4:00 pm ET).

I sold 1/3 of my bear market fund on Monday and used the proceeds to buy more VTSMX (total stock market index) and VGTSX (total Int'l stock index) today. I also used new money to buy more VEIEX (emerging markets) and NAESX (small cap index) today.

Thanks! I thought that might be the case but wasn't sure. Guess I can hope that Monday's market sags a bit more.

Sounds like you made some nice purchases.

 

[2B]

Bad News -- The Carnage to Continue

I hate to bring up one of my "can't miss" indicators but one of the radio financial guys said Friday that he sees a major market turnaround. There are several I hear at various times and in the last month they all became hyper-bears (since the market was already dropping). They are always wrong in predicting what will happen and merrily switch sides when the market turns. They then spend lots of air time telling how they were ahead of the curve on this move and made lots of money for their clients. This guy going bullish doesn't bode well for the future although I don't think they other ones have switched back to bullish. Maybe a blind hog can find an acorn once in awhile.

 

[Midpack]

In every market, there will be very convincing articles/broadcasts advocating selling and others just as convincing it's a good time to buy. And most of them are driven first by getting your attention, the content is secondary even if sincere. I'm staying the course, same as I have done since I began investing in late 1987, and my net worth is twice what I ever thought it would be even with the recent decline. YMMV...

 

[Dawg52]

There are several I hear at various times and in the last month they all became hyper-bears (since the market was already dropping). They are always wrong in predicting what will happen and merrily switch sides when the market turns. They then spend lots of air time telling how they were ahead of the curve on this move and made lots of money for their clients.

Sounds like Cramer.

 

[ziggy29]

In every market, there will be very convincing articles/broadcasts advocating selling and others just as convincing it's a good time to buy. And most of them are driven first by getting your attention, the content is secondary even if sincere. I'm staying the course, same as I have done since I began investing in late 1987, and my net worth is twice what I ever thought it would be even with the recent decline. YMMV...

Sure. Some of their "calls" cater to deep value investors, while others cater to fear. It depends on which audience you are trying to reach. Some folks salivate at the thought of backing up the truck at fire sale prices, while others can't get rid of everything soon enough.

 

[newporttony]

I hate to bring up one of my "can't miss" indicators but one of the radio financial guys said Friday that he sees a major market turnaround. There are several I hear at various times and in the last month they all became hyper-bears (since the market was already dropping). They are always wrong in predicting what will happen and merrily switch sides when the market turns. They then spend lots of air time telling how they were ahead of the curve on this move and made lots of money for their clients. This guy going bullish doesn't bode well for the future although I don't think they other ones have switched back to bullish. Maybe a blind hog can find an acorn once in awhile.

While this guy is bullish, it seems the majority of financial pundits have turned extremely bearish. I can't remember such a level of pessimism. One of my favorite contrary indicators, a guy named Peter Schiff, predicted that the DOW index and the price of gold will reach equilibrium.

 

[Frugality_of_Apathy]

it's only panic when Cramer blogs

"Get out, get out now" like he did in 1998 at the very moment the market turned around

Does this count?

Cramer: The Way Ahead Is Down - TheStreet.com

 

[Nords]

What you guys bitching about? GE, KO, NM, all finished up today. STON finished flat. Let the dividends come to papa! Life is good.

SUP just paid out last week, too...

I can't remember such a level of pessimism.

In which sensory-deprivation tank were you living during 2000-2002? Oct 1987? 1973-4?