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Predictions for the rest of this week ? bear market rally?

Posted on 3/10/09 at 9:52 am
Posted by Zilla
Member since Jul 2005
10641 posts
Posted on 3/10/09 at 9:52 am
I'm holding a 20% gain in FAS, and I'm stuck at whether to lock that gain in... I have a feeling we might rally 2 out of the next 3 days, but its hard not to take a 1 day 20% gain with all the losses I have .... just wondering what some of yall think ?

my thesis for buying was simply contrarian and I expected a pop on the m2m meeting this week, but that may be priced in already now
Posted by Colonel Hapablap
Mostly Harmless
Member since Nov 2003
28791 posts
Posted on 3/10/09 at 9:53 am to
we could rally for 2 weeks, IMO.
Posted by Zilla
Member since Jul 2005
10641 posts
Posted on 3/10/09 at 9:57 am to
but you've been saying that for a while now , what makes this time different ?
Posted by MileHigh
Most likely a mile high
Member since Jan 2004
7920 posts
Posted on 3/10/09 at 10:03 am to
quote:


but you've been saying that for a while now , what makes this time different ?

even a stopped clock is right twice a day

I am sitting on a trunk filled full of powder at the moment. I exited all my short positions other than one I can't exit due to some regulatory things. And my short treasuries.

Although I did sell them at the high yesterday. Turned a nice little profit.
This post was edited on 3/10/09 at 10:16 am
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 3/10/09 at 10:03 am to
quote:

my thesis for buying was simply contrarian and I expected a pop on the m2m meeting this week, but that may be priced in already now



I think people were speculating on a suspension and positioned themselves accordingly (I honestly thought they would go that route as well), but the SEC appears to be holding their ground.
Posted by threesheets
Member since Oct 2007
423 posts
Posted on 3/10/09 at 10:06 am to
I think in this market you lock in gains the second you have them.
Posted by Cold Cous Cous
Bucktown, La.
Member since Oct 2003
15343 posts
Posted on 3/10/09 at 10:09 am to
quote:

I think in this market you lock in gains the second you have them.

+1 this rally baffles me. random walk.
Posted by Colonel Hapablap
Mostly Harmless
Member since Nov 2003
28791 posts
Posted on 3/10/09 at 10:14 am to
I said that in late '08. It didn't go as far as I expected, but it did go about as long as I expected.
Posted by Zilla
Member since Jul 2005
10641 posts
Posted on 3/10/09 at 11:32 am to
i sold at 3.5
Posted by lsustockjunkie
Hick Town
Member since Feb 2009
16 posts
Posted on 3/10/09 at 11:41 am to
Use a stop, fundamentally things have not changed.There are rallies in a bear market no body knows for sure when is the bottom.
Posted by Zilla
Member since Jul 2005
10641 posts
Posted on 3/11/09 at 9:27 am to
quote:

i sold at 3.5


Posted by Rivers
Florida
Member since Nov 2008
3256 posts
Posted on 3/11/09 at 12:27 pm to
It's 1:27 Fl time and the Dow is down 17.35. Looks like this horse is about wore out.
Posted by threesheets
Member since Oct 2007
423 posts
Posted on 3/11/09 at 2:33 pm to
Well, you locked in 20% gains. That's a lot better than most can say in this market. And you broke rule no. 1 of investing in the stock market:

After you sell, never look back

If you think the 4s are a fair price for the stock, wait until the next day we drop 200-300 points and buy back in on the dip.
Posted by SugarBeauxl
Chicago
Member since Nov 2008
1079 posts
Posted on 3/11/09 at 8:13 pm to
I suggest you buy stocks that you think believe in and hold on to them for years. Now is not the time to day trade.
Posted by Zilla
Member since Jul 2005
10641 posts
Posted on 4/13/09 at 11:18 am to
quote:

i sold at 3.5






it's at 9
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