Market correction or selloff ? - Stock Market Forum, Penny Stocks, FOREX, NASDAQ, AMEX, NYSE, Live Chat

davecash77 · #1 06-17-2009, 12:07 PM

Whatever it is my stop loss sells kicked in today I am all cash right now.I am debating whether to buy back in later today or wait a couple of days.The CPI data didn't help New data from the Commerce Department showed the biggest annual drop in consumer prices in nearly 60 years, and FedEx, which is often viewed as a key indicator of the demand for goods, issued a gloomy outlook..The question looms buy back today and catch a rally tomorrow remember this is day 3 of the correction will Thursday make it 4?..

**BadThad** · #2 06-17-2009, 12:24 PM

Your guess is good as mine....HOWEVER....in these past few months these sell-offs are usually followed by buyers coming in to get bargains.

Sorry....I gotta move your post as the stock forums are only for specific picks. This post is more general in nature.

davecash77 · #3 06-17-2009, 12:39 PM

Quote:

Originally Posted by BadThad

Your guess is good as mine....HOWEVER....in these past few months these sell-offs are usually followed by buyers coming in to get bargains.

Sorry....I gotta move your post as the stock forums are only for specific picks. This post is more general in nature.

NP Itchmiester I thought it might be in the wrong section, but i think your right more money from the side lines will come in.

**BadThad** · #4 06-17-2009, 12:46 PM

Forgot to ask....why you using those blasted stops? I swear they were invented for MM's to screw you out of your shares. Sometime I'll tell you my horror stories about using stops.

newmny65 · #5 06-17-2009, 11:36 PM

Quote:

Originally Posted by BadThad

Your guess is good as mine....HOWEVER....in these past few months these sell-offs are usually followed by buyers coming in to get bargains.

I LOVE bargains, find a solid co thats trading for pennies on the dollar-load up-wait for the spike-and FREE RIDE. The trick is finding where the downtrend ends!!! My account isnt really down as much as I expected- I've been working 12 hr days lately-(cant watch my account) VMC is selling rocks again-imagine that?? Road projects and several NEW subdivisions (homes) going in... Actually we're hauling MORE this year than last. JMO lots of folks are pulling profits causing a chain reaction- good for the LONGS (me)- How many times has our economy NOT recovered- people get nervous with bad news and pull out.

**BadThad** · #6 06-20-2009, 01:04 PM

Quote:

Originally Posted by newmny65

I LOVE bargains, find a solid co thats trading for pennies on the dollar-load up-wait for the spike-and FREE RIDE. The trick is finding where the downtrend ends!!! My account isnt really down as much as I expected- I've been working 12 hr days lately-(cant watch my account) VMC is selling rocks again-imagine that?? Road projects and several NEW subdivisions (homes) going in... Actually we're hauling MORE this year than last. JMO lots of folks are pulling profits causing a chain reaction- good for the LONGS (me)- How many times has our economy NOT recovered- people get nervous with bad news and pull out.

Indeed....the bottoms haven't been too tough to find compared to a normal market. I've gotten it "close enough" many times through this mess....more times then I've been burned. This is my retirement fund, so I have plenty of time. My whole trick is figuring out when to pull out all of my money and put into something safe. Hopefully, I'll have a LOT of gains from the market when that day comes.

Trader · #7 06-20-2009, 02:12 PM

I think a lot of stocks rallied up these past months and a correction should come once, no?

OleMan · #8 05-29-2011, 11:53 PM

Nice to bring up old threads and look back at the times, those were some wild days my friends. Unchartered waters indeed, never before have we seen the fear and panic we experienced. I'm a bargain hunter and trade my investments, I only keep the profit shares or free ones. I cant trade at work and my schedule varies so I use pre-set orders on those days- also important to add-I only use STOPS on the most violatle stocks and I dont play pink/otc.. Now were bouncing in the 12,500s and talk about the next correction is in the air, I've learned, whatever happens in this game - happens and it just depends on how the chips fall and where your located

to make it happen..

OleMan · #9 06-01-2011, 03:27 AM

So how much is our National debt anyway? Since its basically monopoly money, I wonder how much will actually be paid down anyway. I'm not a gloom n doomer and I'm neither bearish or bullish, I tend to be a hybrid

and try to go with the flow and bail before it goes down the drain. I read a great article about the USPS and their debt issues, makes me wonder how much forever is left in the the forever stamp. Around 15 billion will keep them limping awhile longer anyway, no problem. Everything is trying to fly, stuff that makes no sense at all, GOLD,SILVER,OIL,STOCKS, BONDS, you name it. Today is June 1st, does that mean, sell in May and go away is gone??? Is the new motto, buy in June and fly it to the moon??? I try to overlook the emotional mumbo jumbo and trade my favorite stocks and their sectors, I look at balance sheets and see if the have any money left, who's buying and selling and why. Whats the squiggly lines on the charts doing??

Most of my stuff pays dividends and I try to write contracts when I can for a little extra change, due to the FLASH CRASH and the programs designed to take out stops " gotta KEEP THE TRADERS JUMPING

" I almost never use stops anymore since the day I got ate by the sharks and ended up buying most my stuff back at twice the price my stop became a market order and sold for. YEP it happens.... Are we consolidating for the 14K I've been hearing about or are they luring more retailers in at the top before the big drop??? I could care less, I work my stuff and try to swingtrade for a few shares here and there, sometimes I swim with the sharks and others I get tossed in with the piranhas...

Just another day at the office I reckon.. How much is a dollar worth these days anyway??? WalMart still wont take my silver over cash, so I guess its all good....

**BadThad** · #10 06-01-2011, 02:32 PM

LOL! Great post oleman!

Yes, I've too been burned by stops....quite a few times. One time I sat watched a MM swoop down, grab my shares, then put the ask price right back....in a matter of seconds. It's NOT FAIR but it does happen so stops can absolutely screw you. I mainly try to use them to lock in profit. Once a stock goes high enough, I put in a stop that will guarantee me profit even if I get swooped by a MM.