This is why people aren't buying

CaptainObvious

CaptainObvious

I just watched another talking head on CNBC saying what a great buying opportunity some stocks are. He was referring to GOOG, saying that it being so far off it's high of 700+ not that long ago, it's a steal at under 400.
That was exactly my line of thought back in 2000. One specific stock was YHOO. It had fallen considerably from it's high a couple months earlier. I'm figuring YHOO is a major player, the Internet ain't going away, this is a great long term investment. The chart will show where I was buying and where I finally dumped.
The point of all this is, had I held I'd still be underwater 8 f'n years later. GOOG may look like a steal, but is it. I'm guessing many people like myself are thinking, not only will GOOG never see 700 again, it may drop another 50% from here.
Just my rambling thoughts in this crazy market.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2118206
 

Attachments

Yeah. I agree. Been tempted to throw in the bear towel but won't until technicals change. Also heard some talk of shorts in the market. I don't think much of this is shorts. I think it's long term longs liquidating never to come back. I think this is a real pyschological change in how the public views stocks. All these baby boomers are looking at retirement and its not looking pretty. They are moving out of stock before they have nothing to live on.

My parents would have been in that boat if I hadn't moved them out last summer and my inlaws are getting sea sick right now.

Just my 2 cents.
 
i agree; the cheap money definately found its way into stocks, goog is going to lose its grow premium multiplier, and now you have so many longs trapped above. Unless you really believe/fundamentally believe its #s wont change/you have a dodd margin of safety, I'd say thats pretty accurate with any stock you mention. Especially when they don't have dividends.
 
If I was going to buy and hold, i'd be buying companies like VZ (people are going to be going way over their minutes with calls to their brokers saying SELL SELL SELL), and I'd buy BP (gas prices in Europe are 10 bucks a gallon and people will be buying lots of gas to set their homes on fire to collect the insurance and pay off their over mortgaged houses) And also PFE. (How many people have gotten sick this week just from looking at their portfolio...gonna sell alot of drugs to kill that pain!) Also buy RAI, or MO and PM (Cause after this week...alot of people are going to take up smoking!)
 
Quote from CaptainObvious:

Yes, it's TOS.
More...

thnx i was thinking of switching to them gotta try out their platform i guess. here in canada we have very little choices...
 
You must log in or register to reply here.
Back
Top