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Shorting will help terrorists--no shorts
- Thread starter stockoptionist
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....."SMALL INVESTORS ARE posting thousands of comments and stuffing e-mail boxes with messages urging everyone to buy and hold at least 100 shares of their favorite company.
âHelp America get back on its feet and memorialize those who died: Buy stock when the market reopens and hold it. If everyone bought just 100 shares we could make Americaâs stock market soar,â says one such message.
âIf every one of us, along with millions of other Americans get in there and buy 100 shares of your favorite stock, we can reach the goal of getting a billion shares on the plus side at the ringing of the closing bell on Monday,â says another with the exhortation: âPass this along to all your friends and family!â
This is a neat idea but I doubt it will work. As bad as it sounds I bet when it all comes down to it, money is far more important to people than patriotism.
As for me I'm going to do one thing next week. FOLLOW MY RULES!
After much thought on the subject, I've decided I won't go short next week. At least not on Monday or until the market decides what it wants to do. Even though I don't think it will make much difference, I'll refrain in the "hope" that I'm doing my part to help the economy out.
But I'll tell you one thing. If I go long and my stock goes against me, I'll be damned if I'm going to "hold for America". I'll do what I always do....GET OUT!
I'm sure what we'll see next week will be the same two forces that always move the markets: FEAR AND GREED. Patriotism will have little to do with what happens imo.
âHelp America get back on its feet and memorialize those who died: Buy stock when the market reopens and hold it. If everyone bought just 100 shares we could make Americaâs stock market soar,â says one such message.
âIf every one of us, along with millions of other Americans get in there and buy 100 shares of your favorite stock, we can reach the goal of getting a billion shares on the plus side at the ringing of the closing bell on Monday,â says another with the exhortation: âPass this along to all your friends and family!â
This is a neat idea but I doubt it will work. As bad as it sounds I bet when it all comes down to it, money is far more important to people than patriotism.
As for me I'm going to do one thing next week. FOLLOW MY RULES!
After much thought on the subject, I've decided I won't go short next week. At least not on Monday or until the market decides what it wants to do. Even though I don't think it will make much difference, I'll refrain in the "hope" that I'm doing my part to help the economy out.
But I'll tell you one thing. If I go long and my stock goes against me, I'll be damned if I'm going to "hold for America". I'll do what I always do....GET OUT!
I'm sure what we'll see next week will be the same two forces that always move the markets: FEAR AND GREED. Patriotism will have little to do with what happens imo.
Listen closely to the best advice of all.
Don't trade unless you have to.
You are trading against a crisis. Why bother?
As far as supporting the market, let Merrill Lynch, Goldman Sachs, and Lehman Brothers support the market. They have more resources anyway. Let them do it.
And I don't appreciate the guilt trip put on me about buying stocks in order to be a patriot. I haven't slept well and I am hurting over this, so don't tell me how to grieve please.
Have a nice day.
Don't trade unless you have to.
You are trading against a crisis. Why bother?
As far as supporting the market, let Merrill Lynch, Goldman Sachs, and Lehman Brothers support the market. They have more resources anyway. Let them do it.
And I don't appreciate the guilt trip put on me about buying stocks in order to be a patriot. I haven't slept well and I am hurting over this, so don't tell me how to grieve please.
Have a nice day.
If you play the long side by buying low (when people panic) and sell high, are you not profitting off this crisis? I am not doubting anybody's patriotism, it's just some of the responses are too instinctive and childish. Let the market do it's own thing, if you feel guilting profitting off the crisis, then don't trade at all.
Now, buy and hold is another story. But what is the purpose of all this? All the patriot peole will support the market so that those less patriot ones can get out at a better price? so that overseas players can short the US market to hedge their "already bloody" holdings in Japan, Europe etc ? I am sure the terrorists won't hesitate to short any artificial mark up in the US. In any case, any "patriotic donation" to the market will be arbitraged instantly overseas.
Better donate to Red Cross or your favorable charity.
well said dozu. these are the real arguments here.
others I respect your opinion and patriostism. still do not forget the big picture. if you dont want to short its OK. others will (and might get burned in the process). the market has no emotions. Let the big guys support the market, it's their interest too, it's not even an emotional response. donate your money (some of you did and that's great).
Invest in your 401k, add to your long term position etc.. and as trader you should remember that the market decides not you. so if you are unconfortable with the action, just stay out, don't go against it. Morality does not apply here. The market has no emotion or sense of good and bad.
Bombings or not, the market is always right. and You might be wrong. dont go against it. The trading rules always apply. And thats why, usually when there are major events like this, the market resumes its trend quickly (or complete its previous trend).
neo
others I respect your opinion and patriostism. still do not forget the big picture. if you dont want to short its OK. others will (and might get burned in the process). the market has no emotions. Let the big guys support the market, it's their interest too, it's not even an emotional response. donate your money (some of you did and that's great).
Invest in your 401k, add to your long term position etc.. and as trader you should remember that the market decides not you. so if you are unconfortable with the action, just stay out, don't go against it. Morality does not apply here. The market has no emotion or sense of good and bad.
Bombings or not, the market is always right. and You might be wrong. dont go against it. The trading rules always apply. And thats why, usually when there are major events like this, the market resumes its trend quickly (or complete its previous trend).
neo
Trader01, dozu888 and tntneo,
Thanks for your posts. These are good arguments you've come up with. However, you must be under the impression that I encourage people to go long. I NEVER said that. Simply because I said that we shouldn't go short, it doesn't mean the opposite: it doesn't mean that everybody should go long to support the market. I am not a "naive" patriot. I won't ask anyone to be a hero in the market. In fact, if you go long here, you will be tempted to take profits when the stock market goes up. And in that case, you also profit off the tragedy in a roundabout way. In fact I agree that the best thing to do for now is to do nothing until the market settles. And that's what I'm going to do.
Dozu888, I agree with you absolutely. It is far better to donate your money than to risk getting your capital wiped out simply because you want to be a patriot. As you said, other people might be shorting if the market goes up. However, please stop calling me"childish and instinctive" before hearing my arguments. I'm not really as "childish and instinctive" as you thought. Again, these are emotionally loaded expressions, which don't help understanding other people's arguments. So stop using them.
tntneo, as to whether morality counts in the market, I have a lot to say, because I am doing a PhD in ethics, and I have taught business ethics. However, I really don't have time to go into this. (I know you might say: Who cares about ethics in the markets? But again, I don't have time to respond to this for now. Perhaps later, I'll do that.)
Best,
stockoptionist
Thanks for your posts. These are good arguments you've come up with. However, you must be under the impression that I encourage people to go long. I NEVER said that. Simply because I said that we shouldn't go short, it doesn't mean the opposite: it doesn't mean that everybody should go long to support the market. I am not a "naive" patriot. I won't ask anyone to be a hero in the market. In fact, if you go long here, you will be tempted to take profits when the stock market goes up. And in that case, you also profit off the tragedy in a roundabout way. In fact I agree that the best thing to do for now is to do nothing until the market settles. And that's what I'm going to do.
Dozu888, I agree with you absolutely. It is far better to donate your money than to risk getting your capital wiped out simply because you want to be a patriot. As you said, other people might be shorting if the market goes up. However, please stop calling me"childish and instinctive" before hearing my arguments. I'm not really as "childish and instinctive" as you thought. Again, these are emotionally loaded expressions, which don't help understanding other people's arguments. So stop using them.
tntneo, as to whether morality counts in the market, I have a lot to say, because I am doing a PhD in ethics, and I have taught business ethics. However, I really don't have time to go into this. (I know you might say: Who cares about ethics in the markets? But again, I don't have time to respond to this for now. Perhaps later, I'll do that.)
Best,
stockoptionist
I have donated money, both through work and through our community efforts...I also plan on investing in America Monday....going long...will I lose money? or make money? Hmmmmmmmmmmmm.......the idea, concept, patriotism seems to tell me that...THATS THE WAY TO GO...my small little contribution will add up along with thousands of others both big and small...its a statement, a vote of confidence...will I be wrong?...maybe...but I am voting...this is how terrorisim works, by disabling your freedom, causing you to withdraw into your shell and do nothing...sorry terrorists I am not playing your game!
I would like to make a clear distinction in this discussion.
Profiting from a crisis, even if it was caused by terrorists, should/need not be a moral problem to a trader.
Not in general. If you have a problem with that, don't trade at all.
However, knowing that the same terrorist groups that have committed these crimes have shorted stocks on a massive scale in the days preceding the attacks, shorting becomes imo a direct supportive act towards financing terrorist activities.
Each trader should decide for himself whether he wants to do so. (I probably won't, but I probably won't be trading on Monday anyway).
Donating money to a good cause is always a good thing to do, but in this case I believe it does not morally make up for shorting, now that in effect shorting becomes a supportive act to future terrorist activities.
Profiting from a crisis, even if it was caused by terrorists, should/need not be a moral problem to a trader.
Not in general. If you have a problem with that, don't trade at all.
However, knowing that the same terrorist groups that have committed these crimes have shorted stocks on a massive scale in the days preceding the attacks, shorting becomes imo a direct supportive act towards financing terrorist activities.
Each trader should decide for himself whether he wants to do so. (I probably won't, but I probably won't be trading on Monday anyway).
Donating money to a good cause is always a good thing to do, but in this case I believe it does not morally make up for shorting, now that in effect shorting becomes a supportive act to future terrorist activities.
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