REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Sure hope you spelled that correctly...Maybe we are heading for S&P 700 as Europe and the US flail.
Sure hope you spelled that correctly...Maybe we are heading for S&P 700 as Europe and the US flail.
Sort of. This is what I was expecting/hoping for since it seems like an over reaction to me. I have acted on my prediction but I am not real confident. This could keep going for a while. I still have room to buy more if we keep falling. But then maybe I will be twice a fool.Per the original question, I think we have an answer...
Absolutely! This is the buying opportunity of the century. Once the hangover wears off, reality will set in that nothing has affected company profits. Classic sell-off, hyped by the business news. Day traders will get rich on this mob mentality. By next week people will suddenly realize the sky isn't falling.
Sort of. This is what I was expecting/hoping for since it seems like an over reaction to me. I have acted on my prediction but I am not real confident. This could keep going for a while. I still have room to buy more if we keep falling. But then maybe I will be twice a fool.
You should probably have some predefined criteria and stick to it or else you're likely to allow greed and fear -- two wealth-killing emotions -- sway your decision.60/40 AA is now 53/47. Should I rebalance to 60/40 now or wait for the dust to settle a bit?
Sort of. This is what I was expecting/hoping for since it seems like an over reaction to me. I have acted on my prediction but I am not real confident. This could keep going for a while. I still have room to buy more if we keep falling. But then maybe I will be twice a fool.
You should probably have some predefined criteria and stick to it or else you're likely to allow greed and fear -- two wealth-killing emotions -- sway your decision.
Been buying today but am running out of ammo.
I see no reason to be leery of re-balancing to your preset AA. I decided to get more conservative recently and had sold stocks getting down to my new 60/40. Luckily I sold around this year's top. The last few weeks big drop moved me all the way to my AA (and would possibly be a bit low on equities after today's close). Nevertheless, I couldn't resist taking a chance and bought more equities today - I will probably be back up around 66% equities. If I guessed wrong I have enough cash to sit tight for quite a while waiting for a recovery. If I guessed right and we bounce back toward DOW 12,500 later this year, I plan to go back down to 60/40.Well, if you are the fool you will have some company. I decided to rebalance and sold bonds and bought stocks for about 7% to get back to 60/40. Time will tell if I am a hero or a goat.
I never watch CNBC, and I certainly won't today, sort of asking for it IMO. I am encouraged that most of the talking heads I saw yesterday and briefly on CNN this AM were warning people not to panic and do something stupid. I'll probably watch NBC news and that's it. This is no where near as dangerous as 2008, things will calm down again soon enough.Time to switch the thread. Now that we saw what happened on day one post downgrade, what about day 2? Rebound or no?
I tuned in to Closing Bell to listen to all the pundits rant and everybody is anticipating a brief rally. They put some technical guy on there talking about bands, testing, and the like. The guy sounded crazier than a witch doctor. How can people take this stuff seriously? No offense to any true believers on the board.
Well, what we do know is the US Treasuries were downgraded, and as a result, investors sold out of as much stuff as they could so they could buy more Treasuries, bidding up the price. Makes sense to me.
Been buying today but am running out of ammo.
Now we know what happened on Monday.
Ouch!
Are you saying we have quite a way to go?... what actually happened today is that the S&P 500 closed 65% above its March 2009 low point.
That's my excuse for posting, too.Just to show my contrary nature (not contrarian in the financial sense, just contrary )...
60/40 AA is now 53/47. Should I rebalance to 60/40 now or wait for the dust to settle a bit?
Are you saying we have quite a way to go?
Can you at least give us a hint?Absolutely.
I'm not saying which direction though.