I got stuck buying a bit high . . .

[BWong]

. . . as before the holidays, I rode a nice wave and on a slight dip, bought a bit too high and got caught but thankfully, I had a lot in reserve so I could buy as the stock went from $32 all the way down to $23 just recently, now it is on the way back up, thankfully as it is no fun being down.

I have faith too that there will be a little rise in the markets during or after Obama gets sworn in too. Sometimes I feel like Kramer in Seinfeld, when he bets on the horses and he's swatting the horses rump as the numbers go up and up and up.

[Runswithscissors]

Well good it's on the way back up for you. I think we're all hoping for an Obama rally. Ive got a couple turds I'd like to unload.

[XOM]

"I got stuck buying high" aka "I'm a bagholder now" Just a little humor, we've all been there and sometimes ya just got laugh to keep your sanity;)

[Bolimomo]

...and sometimes ya just got laugh to keep your sanity;)

And sometimes... you gotta do what you gotta do.

Like Dr. Phil and Shaquille O'Neal in "Saw". Oh, sorry, that's a parity of Saw in "Scary Movie 4"... You are chained to some drainage pipes with handcuffs. The key is gone. You are given a saw. What would you do? Would you saw off your foot so you can live? Or you want to die intact?

"Average Down!"... great answer!

[simpletradesnet]

And sometimes... you gotta do what you gotta do.

Like Dr. Phil and Shaquille O'Neal in "Saw". Oh, sorry, that's a parity of Saw in "Scary Movie 4"... You are chained to some drainage pipes with handcuffs. The key is gone. You are given a saw. What would you do? Would you saw off your foot so you can live? Or you want to die intact?

"Average Down!"... great answer!

Anyone who bought stocks in mid-1929 and held onto them saw most of his or her adult life pass by before getting back to even.

--Richard M. Salsman

[smartinvestor30]

Anyone who bought stocks in mid-1929 and held onto them saw most of his or her adult life pass by before getting back to even.

--Richard M. Salsman




The era of buy and hold is over and has been over for quite some time.

The idea of setting up a 401k to retire off of is over too, sorry but every employee should not be invested in the stock market, people won't trust stocks anymore retirement and they shouldn't.

[Horsefish]

The era of buy and hold is over and has been over for quite some time.

The idea of setting up a 401k to retire off of is over too, sorry but every employee should not be invested in the stock market, people won't trust stocks anymore retirement and they shouldn't.

Mostly agree, with the exception of setting up your own self managed 401k or ira to get the tax benefits.

What we really need is better financial education [required courses] starting in high school and going forward. Real world stuff, not the gibberish put out by mutual fund managers pushing self interest.

[simpletradesnet]

What we really need is better financial education [required courses] starting in high school and going forward. Real world stuff, not the gibberish put out by mutual fund managers pushing self interest.

That really makes a lot of sense. I wish it was workable for most school budgets.

[Bolimomo]

I am glad that with IRA and the recent Ultra short products, we have more flexibility in controlling our own retirement future.

A while back they talked about letting people direct their Social Security money in investment. I would love that idea. But I was also fearful that many people would shoot themselves on the foot and bankrupt the already fragile SS fund. You know what the government is going to do... they will rob the money from those who do well in their Social Security investment to pay those idiots who have lost their money. Don't believe that? What the hell are they doing with the Government Bailout?

Teaching financial subjects in high school and making it mandatory. Sounds good in theory. But will never happen. Kids these days do so poorly in math. A kid working at McDonald's couldn't give me the correct change from a $20 because "the register is not working" (not telling him the "change" amount). Kids avoid math like a plague. Think you can get them to take a "financial" class to learn about interest rates, yield, dividends and foreign exchange? Foreign exchange??? America is the center of this planet! Why can't they all speak English?

The other isse is with hiring qualified teachers to teach financial subjects. At the pay scale of a high-school teacher, you think one can find someone who had worked in Wall Street jobs to teach in high school? It's hard enough to find teachers who won't have sex with students!

[BWong]

Yes, the time down seems like it takes forever, but thankfully, today got me even closer to base and it should not be long before it is back over the hump and it did teach me a great lesson about waiting and having even more patience and dicipline.

[smartinvestor30]

Mostly agree, with the exception of setting up your own self managed 401k or ira to get the tax benefits.

What we really need is better financial education [required courses] starting in high school and going forward. Real world stuff, not the gibberish put out by mutual fund managers pushing self interest.

If everyone get taught how to be a good investor no one will win. My account is higher in 2008 because someone somewhere bought stock from me at too high of a price and conversely someone sold it to me too cheaply. You can think of it this way, for every winner there is a loser (sort of ;) )

[smartinvestor30]

. . . as before the holidays, I rode a nice wave and on a slight dip, bought a bit too high and got caught but thankfully, I had a lot in reserve so I could buy as the stock went from $32 all the way down to $23 just recently, now it is on the way back up, thankfully as it is no fun being down.

I have faith too that there will be a little rise in the markets during or after Obama gets sworn in too. Sometimes I feel like Kramer in Seinfeld, when he bets on the horses and he's swatting the horses rump as the numbers go up and up and up.

What stock did you buy, if you want good advice then you need to tell us what you bought. If someone here knows that the stock is doomed then you should take your loss and get out of it.

[Bolimomo]

If everyone get taught how to be a good investor no one will win. My account is higher in 2008 because someone somewhere bought stock from me at too high of a price and conversely someone sold it to me too cheaply.
Good deal! Let's keep this among the self-taught, surviving, profitable trader fraternity. :biggrin:

[XOM]

Good deal! Let's keep this among the self-taught, surviving, profitable trader fraternity. :biggrin:

Ah, but will there be honor among thieves?

[smartinvestor30]

Ah, but will there be honor among thieves?

There has been since the first IPO

[XOM]

There has been since the first IPO

Surely you jest sire? Madoff, Nadel, The Tan Man, Ken Thom.....

[Bolimomo]

Ah, but will there be honor among thieves?
We all just work and milk from one big pot. One pot per stock. Unlike Poker, there are thousands and thousands of players simultaneous. I don't know whose money it is. When it is transferred to my account, it becomes my money. :D

[fbm]

I took a co-op class when I was in high school, which is for people with jobs in high school still and you get credit for working and such. Our teacher tried to introduce us to 401ks and iras, however even he didn't know very much and in his own words it was a learning experience for him too. He had never taught the class before. We even did paper trading on a site, that helped me get more into financial side of things. If they had a financial class on all the important things you need to know I would have taken it, but I'm the exception I think haha.
Back on topic I also baught a little high, at the time it didn't seem high. Starting off the new year on a bad foot. I guess my inexperience is still showing.

[BWong]

I'm back up. My stock is, arguably, the best gold-mining stock around. With the price of gold up around $900 today, if it keeps on going, I'll be back in black soon enough. All the fear has people buying the yellow metal.