Days like today...
What do you guys wish you were doing instead of watching this terrible, terrible market?
Anyone else eating their stress away?
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Dancing over here. I've been short / in cash for over a year.
Just think: we've got one more day this week, and it's a FRIDAY in AUGUST. Wouldn't want to be long right now.
Ever since silver made me it's bitch back in May I've just been day trading and am completely out today. Hang on to VXX and maybe 100k in SH with tight stops. That's all I'd be willing to get here.
Put in perspective:
S&P now:
July 22: 1345.02 August 4: 1218.89
Loss of 9.4% in 2 weeks.
S&P 2008 crash:
Sep 19, 2008: 1255.07 October 3, 2008: 1099.33
12.4% drop in 2 weeks.
So, at least on a strictly percentage basis, this drop is nearly as bad as the first couple of weeks of the crisis.
I'm still long several stocks that are hitting their 52 week lows (i.e. TEVA, CSCO, BBY, F). Time to sell at loss or average down? What do you guys think...
im in CSCO also and just hanging on for the ride at this point
I don't cover any of those but if you don't believe fundamentals have shifted and have capital to buy more, I'd probably do so. I'm not a long-term doom and gloom guy like most seem to be today.
What to do with F?
Things are bad, but not THAT bad. Its fear driven at the moment. Until Italy defaults and more doubts are cast over France, then shit hits the fan.
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