my entire portfolio is down 10% on the day. Including hedges in there. Without them it would be closer to 17%.
Time to short SKF. - wtf pricing
I’m only down about 3% on the day… I’m sure it’ll drop like a rock now that I’ve said that.
I have been getting blasted so bad I even cut a bunch of losses this morning so I could be holding some cash. It is very unlike me to cut losses while down. Bought more oil though. You guys watch any of the big 3 pleading today?
Also WTF prices on MS,C,DRYS, and AKS.
Ok Joe I need some insight from someone in the business. Is it feasible for these financial institutions such as C and MS to be trading so low? I mean C is about to be $6 wtf is going on here? Can they function at this level? I knew things were bad but I did not expect some of the stocks to come down so low. Then the extreme value i think even scares people away to be honest. I would have been more likely to buy in at $12 then I would $6.
With the biggest ones, by all rights, you’re safe. We’re seeing flight to quality right now where people are pulling their deposits out of smaller FI’s and putting them in the largest banks because they trust them better; we’re actually turning away commercial banking business. Problem is, no one in the market is trading rationally. People are selling out at 50%+ losses on financials because they just can’t stand to keep losing, and institutions are holding what they have instead of buying more at value because they have to mark their trading assets to the market and they can’t afford to appear vulnerable and lacking liquidity if the stuff drops short term. Although personally I like GS over MS right now.
But if these big guys were to fail, there would be no money to speak of in anything left. Particularly with the bailout, in a RATIONAL market they are a great play. Buying in at 6 and holding long term is a great play. I know you’ve been reluctant to hold long term, but it’s just riding out the storm. They are functioning. It’s certainly scary, but I really think the biggest and best FI’s will hang on, and then have HUGE market share long term once we get out of this. But by all rights, these firms are trading well below book value on pure emotion. You’d think that would have to stop at some point, but as long as this market is fucked sideways, you never really know for sure.
For what it’s worth, if I could put my entire 401k into financials at today’s prices, I would.
fuck UYG!!!
fuck DIG!!!
fuck BAC!!!
fuck BWLD!!!
fuck YHOO!!!
fuck PM!!!
that is all.
yeah…that hurts a little.
fuck, even buying SKF/SRS this morning would have covered all of my long losses today, its up anotheer $20
annnnnd we’re below 8k
i hate money
i saw worse losses today than on the peak of the freefall, percentage wise. 18%. If I wasn’t hedged with SMN, it would have been 25%. Financials are inching toward absolute fucking zero. I really need to change my password for a few months.
I know, if we have another rally and I peak near even I may cash out and sit on the sidelines for a while. Fuck this train, too much money in the drain for my tastes.
Ha meh i really dont even know what to say at this point. Im down 1/2 a sports car in the last 10 days right now. This is the crap driving all the people out of the market. To be honest i have even though of just saying fuck it and pulling to cash and waiting for the bull market whenever that might be. 2010? 2020?
if I was all in like I was before i went on vacation this would have been a negative 5 to 10 thousand dollar day.
It gets harder and harder for me to keep investing on the premise of long term. The reality is it that a lot of my investments over the last year have become LOOOONG term (>10 yrs) I don’t have a problem with it, it just wasn’t the general strategy, they were supposed to be 3-5 yrs.
Meh, it happens. Time to hit up the boss for another raise :mamoru:
Yep new lows across the board you know what that means? YAY now we get to set in a new bottom!
Ill hange it if you change it. Ill change yours you change mine? Pull out any cash you might need and lets do it haha. I will return you password when the dow is above 14k again someday HAHAHAHA!
Yep I feel the same way. Im down 10k in under a week. Im not going poor but ill be damned if that isnt hard to stomach. Oh and i havent even checked my IRA lol. But it is also the beaten up investor mentalit that is really hurting the market even more.
It sure was 
Im not even going to cry either because I smoked the market so far this year so I had this coming. Just today I crossed into negative territory for the year lol. Most people are out 50%+ at this point.
haha, if we hit dow in the 6’s we are doing a password exchange.
Who still has FNM at .39?
Wonder how many people on here got burned after you guys made all that money when it went from .3 to $2 and were talking about. I saw way too many people talking about buying in at well over $1.
Better question… Are you jumping back in now that it’s sub .4?
BTW I blame all of this shit on the loser ass auto industry. Just when we started to see any confidence we get these FGGTS! coming in and just making everyone think that basically anything and everything can fail at this point.