The bottom
- Thread starter tradingjournals
- Start date
Who? A clueless buy-n-hold-n-pray financial planner? You post here over 5,000 times, presumably folow the markets closely, and let someone manage your money? For shame.
Anyhow, let's see the next round of bottom pickers. This is fun(ny). Sooner or later they'll be right. Those who nailed the March 2009 bottom probably started calling for it in mid-2007.
most of my retirement money is in stocks. I don't believe any amateur should buy stocks unless they can spend 16 hours a day studying them.
stocks aren't my thing, so I pay somebody else to study them
no, I am not buy and hold, although some of my money has always been in a simple S&P index fund since 1988.
but getting back to the topic, I am not looking for a bottom here. Due to an unfortunate decision I started selling bonds at 126 and had too much cash, so I had to buy more stocks, because cash was killing me. I made my last purchase at 1306. That's good enough for me. I'd feel a lot more comfortable if we had just a plain old fashioned 10 to 20% correction. Been a long time.
I have been timing this market a little wrong this week, was short with SOXS, sold it after a minor gain around $39, 2 days later, up above $44.00 talk about missing out on huge profits. So today I bought a little USD around $25.50 and just sold around $26.00 for a small return. As much as I want to run into SOXS right now thinking its headed higher, a couple of huge rally days can send it right below $37.00 again, patience is key.
Careful here. A few months ago the pattern was
1) Open with a loss
2) Start rallying mid-day
3) Finish flat or with a gain no matter how terrible news or world events are
Now it seems to be
1) Open with a loss
2) Start a brief, head-fake rally mid-day
3) Go back to a loss and close out in the red
This is the bottom I called it!!!!