Major Selloff Today!!!
- Thread starter BlueStreek
- Start date
Um... WHY did you sell all your longs at a loss today? It's a volatile day... being triple witching and all. If you're up, taking some profits is no biggie, but why sell at a loss? Unless you're long a totally tanking industry/company, you should wait til next week at least to sell, since today is not really indicative of the market.
Traditionally, the Christmas rally hasn't hit us yet. Maybe Christmas came earlier this week, but you won't know til Monday or Tues. I just bought TIE at the dip, at 31.48. It's already up $.10, I'm still willing to gamble
.I was long, sold 2 out of my 3 positions for a loss, especially on QLD, went long after the first dip thinking the market was going to be up after that dip, well once I saw the nasdaq weaken again I sold, glad I did because I would have been down.
As for the Christmas rally, I dont know about you but I think the xmas rally came in October.
Wow. Sorry to hear that. That one spike to 93 was the highest it's been in years. It's still $.52 up for the day from yesterdays' close, which was a substantial run. I've done that too, misjudged a trend, I hate when I do that. But I never buy while something's still climbing, so I don't lose much.
As for Christmas rally in Oct... um...since Oct have been the best months all year.
If you're a terrible timer, you may want to consider buying long with married puts (better) or a covered call. You can't lose money unless the stock stays flat for a month or more. If you think that will happen, why would you even buy the stock? Buying that way, there's no downside when you can't trust your own judgement (sometimes I can't, so when I get the urge to do something that bothers me, I do it anyway, but I hedge all the way).
hels before i became bearish on this market i was long so many shares of QLD at 66-67 range. It tanked to the low 60s, I had the courage to hold, it eventually came back and I was glad to make some money on it, so I sold it. Well about 20+ points later I regret it big time.
Todays trade was based on the low CPI, if it came in at .2 I was going to sell short stocks today but since it came in at 0 I thought this market was going to take off, it did and than the pullback occured. These markets arent easy to trade whether its long or short.
Must be the censored version because mine has a lot more curses thrown in 