NewTrader-I would not sell everything next week. It is my opinion that we have much less downside than upside risk in the short run. Don't sell your AAPL. Let's examine the risk. You have it from 156-it's down 60 points. Let's say they have poor earnings, it loses 25%. You've born the brunt of the downside. If AAPL is going to start a multiquarter downswing, news will show that's going to happen, it's not going to lose most of what's left next week. The easy money downside has been made, don't let the jackers take your stock when the risk/reward is highly favorable to them. If AAPL is over, it will show you that over time. When stocks die, it's a multi quarter process because their business has turned.
Here's the best advice I can give you. (I should charge for this sh$t because it's the truest, simplest advice you'll ever hear on the market) Don't own stocks whose businesses are bad; own stocks whose businesses are good. It really is that simple. You determine this through earnings and guidance. I have no idea how far down or how far up stocks will move when their businesses are in this position. I would not own C because their business is crap like the rest of financials. When their business turns, buy it. You will have plenty of upside without having to play the guessing game. The only downside is you can't say you're "smarter" than everyone else because you owned it at $5 for a year and I bought it at $6 and now it's $10 three months after their business turned.
I would examine the businesses of your stocks. Given the losses you've sustained, I can't advise on you on what to do with them. Just that if their businesses still suck, they will continue to fall after every earnings report. Out of the companies you own, AAPL is the only one I kind of like. If their earnings are bad, more downside will ensue. But, at least you will have a good reason to sell. If they are not, I think it will see $120 for a while.
