Quote:
Originally posted by willcls
we are in full blown recession in the US which will spill over to the rest of the world.
recession= low demand for everything! how are you going to buy gold when you're unemployed?
sure long term gold will probably hit $2-4000/oz. but you're not gonna like how it gets there with all the inflation. oil inventories have been building up for a couple weeks now.. then opec comes out and says they will maintain output and the price of oil doesn't move?? it's already priced in and oil is going to fall hard.
i know some of you believe that certain sectors or stocks will survive..but reality is that 90% of everything goes down in a recession
even agricultural exports right now is on a freakin rip but will probably fall with everything else
once things start to go down there will be margin calls and people need to shore up capital... they are going to sell their winners to do so. that is why you are going to see good stocks and sectors go down the toilet with everything else that is when the snowballin begins
Mcdick:get out of everything dude... cash is king MDR is making lower lows and lower highs, AAPL is going to below $100!!!!fuxors were all fucked, even tho im shorting everything i hate to see ppl lose money
so join in the fun and start shorting commodities! the most ripest short candidate i can find at least
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I agreed with you.
I do sell my stocks when the market looks ugly. Back in January, I did make a bad trade with Apple. I bought it at $185, went up to $200 quickly, and sold at a lost at $175. I am not stupid enough to be a bagholder and hope for a bounce.
As of MDR, I got in 2.5 years ago, therefore I don't need to sell it since I got in really cheap! MDR just reported positive (revenue and profit raising) earning and increasing of backlog of over $10 Billion dollar! Citigroup upgraded MDR with price target of $78.50. With $10 Billion backlog, what can go wrong?!? I am waiting for the market to recover a bit (assumed 4Q in 2008), this can be hitting $70 by the end of the year!
As of MA, FWLT, FLR.. pretty safe as I got in cheap in early 2007.
Those are my long term investment which I don't even care their daily movement.
As of now, I have a chunk of money sitting on the sideline ready to go back into the market for bargain hunting.
VISA and GS are my next target. I might use my margin account on VISA (which will be traded in mid-March).