Dow poised for a big drop?

[MJ DeMarco]

Probably wise advise! haha -- My last 5 entries into the market have led to huge immediate plunges.

We should devise a new trading system called the "Hakrjak Contrarian System" -- when hak buys, sell .... when hak sells, buy. =) (Just teasing ya Carl!)

 

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[hakrjak]

We should devise a new trading system called the "Hakrjak Contrarian System" -- when hak buys, sell .... when hak sells, buy. =) (Just teasing ya Carl!)

Haha, that would be the most profitable trading system on the planet! Did you notice that right on queue today we're down 170 pts? Grrrrrr........

- Hakrjak

 

[MJ DeMarco]

Smart money controls the close ... and heavy selling poured into the close. Not good!

 

[hakrjak]

Smart money controls the close ... and heavy selling poured into the close. Not good!

I need to become confident enough to take my own advice

- Hakrjak

 

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[faq88]

IBD downgraded the market to Uptrend under pressure. Recommending that you be very cautious of any purchases and positions that you currently have.

 

[hakrjak]

Making most of it back today... Holy smokes! Now the only question is -- Get out, or ride it awhile longer?

Cheers,

- Hakrjak

 

[hakrjak]

And down we go again.......

Why does it seem like when the market goes up 100 pts, I make $600 on the ETF's in my 401k, and when it goes down 100 points, I lose $1200? Sheesh!

- Hakrjak

 

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[andviv]

I stopped worrying too much about my money in the 401(k). I look at it every now and then to make some adjustments, but that is it.

In my case I am like 65% to 75% cash and the rest in energy and international stock, if I recall correctly.

Why?

Cause I am skeptical of what is going on with the market these days, and I get penalized if I try to trade constantly.

 

[Jonleehacker]

I stopped worrying too much about my money in the 401(k). I look at it every now and then to make some adjustments, but that is it.

In my case I am like 65% to 75% cash and the rest in energy and international stock, if I recall correctly.

Why?

Cause I am skeptical of what is going on with the market these days, and I get penalized if I try to trade constantly.

I have a stock idea for you for this account. Due you own DD of course.

I own it myself and have done really well with it:

EVEP

Pays 8.75% dividend and has >14% capital gain YTD. My idea of a perfect buy and hold stock.

Look for an entry when it comes back to the trendline.

Again, take my advice for info purposes only do your own DD. I'm no pro. :fastlane:

 

[Guest3722A]

Blankfein got a three minute standing ovation Friday from his trading floor per Guy Adami on Fast Money yet GS tanks. I personally would say avoid GS right now seeing that even though the 3-month support was broken, I think an inverted HnS formation could develop. I'm not really feeling any direction to be more probable than the other and at $500,000 median annual salary at Goldman, these guys aint amateurs!

 

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[Guest3722A]

I have a stock idea for you for this account. Due you own DD of course.

I own it myself and have done really well with it:



Pays 8.75% dividend and has >14% capital gain YTD. My idea of a perfect buy and hold stock.

Look for an entry when it comes back to the trendline.

Again, take my advice for info purposes only do your own DD. I'm no pro. :fastlane:

Have you seen AGM or LLEN? LLEN has been stopping me out and I got AGM at $16 and may dump it Monday depending on how it closes in relation to the bollinger band. LLEN I'll give a couple more chances to, but ain't gonna wait forever as there are way too many stocks starting to go parabolic right now.

 

[MJ DeMarco]

Is this the beginning of a correction? Or something more ominous? The volume says it might be the latter! Scary!

 

[Rem]

Dow 6,000 here we come hahaa

Last 3 days have hit some nasty lows.

 

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[hakrjak]

Wow, this is crazy.... I know I made the prediction, but that was before we saw jobs starting to be created and good earnings by some companies reporting last week..... I can't believe I got sucked into the top of the sucker's rally -- and have now ended up losing a huge chunk of my portfolio....

The stock market makes me feel like a degenerate gambler.... Every time I step out for awhile, it pulls me back in -- and then slaughters my retirement savings, and reminds me why I had been in cash for so long....

Grrrrrrrrrrrrrrrrrrrrrrrrrr.......

Cheers,

- Hakrjak

 

[MJ DeMarco]

Watch the close ... if the selling accelerates in the final hour I'd get worried --- if buyers come in at the last minute, I'd say that's good. Fasten your seat belts!

 

[MJ DeMarco]

Holy shit it's crashing!!!! Down 600!!! Down 700!!!! Down 800!!!

 

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[Rem]

Oh man, I have never seen anything like this.

Wow -800

 

[hakrjak]

Dow was down -1000 30 mins ago.... And now it's back... WTF!?!

Sell out completely at the close, or stay in Stocks and hope for a bounce tomorrow???

- Hakrjak

 

[Jonleehacker]

All my stops got hit during that bounce... sitting 100% cash overnight, I may even get some sleep tonight

 

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[hakrjak]

Rick Santelli is yelling about this impacting LIBOR rates, and wanting to check those in the morning.... This better now impact all of my ARMs, otherwise I'm gonna get slammed with a double-whammy.

- Hakrjak

 

[kwerner]

Dow was down -1000 30 mins ago.... And now it's back... WTF!?!

Sell out completely at the close, or stay in Stocks and hope for a bounce tomorrow???

- Hakrjak

Hak - If your stock investments are in your retirement account, don't panic.
Do you plan on retiring tomorrow?
Or will you be withdrawing your money in 20-30+ years from now, for retirement?
I know it's hard to do, but try to set your emotions aside for a minute, then make the better decision - what your heart and mind tell you to do.

Hope this helps.

 

[hakrjak]

Hak - If your stock investments are in your retirement account, don't panic.
Do you plan on retiring tomorrow?
Or will you be withdrawing your money in 20-30+ years from now, for retirement?
I know it's hard to do, but try to set your emotions aside for a minute, then make the better decision - what your heart and mind tell you to do.

Hope this helps.

I don't plan on retiring tomorrow brother -- But I do factor in the possibility of getting laid off in the next 6-12 months (You never know...), and needing to live off the money -- So I'm very active in my trading within the 401k always trying to maximize it's growth, and trying to get out of the way anytime I see huge downturns.

Cheers,

- Hakrjak

 

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[BurnBright]

Oh that would of been fun. Had to do a double take when I looked at the markets half an hour ago. In reality if I was still doing heavy trading I would of been long before the bottom and puked right after the bounce for small change. Hope nobody here got hurt to bad, lots of nasty prints on the ECN's.

 

[Bond]

CNBC saying a trading error may have caused this drop...

 

[MJ DeMarco]

Now they are saying the massive plunge was the result of a typo at a trading firm ... the guy entered (B) [Billion] instead of (M) [Million] ... Wow!

 

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[hakrjak]

Now they are saying the massive plunge was the result of a typo at a trading firm ... the guy entered (B) [Billion] instead of (M) [Million] ... Wow!

Dude -- We should all be able to sue that firm! WTF!?!?! How is that even possible?

If regular people were looking for yet another reason to lose faith in the markets -- THEY GOT IT!

- Hakrjak

 

[BurnBright]

No trading firm program would allow (b)illion for (m)illion, maybe one zero but never 3. Just an example on the problem with fully electronic markets when there are stop runs. Does anyone remember DNDN on the day of the FDA decision?

 

[PaulRobert]

Holy shit it's crashing!!!! Down 600!!! Down 700!!!! Down 800!!!

My friend messaged me shortly after school saying "The Dow just crashed 900 points." I went numb and just thought to myself, "Well, the Greek Debt Crisis S***t hit the fan and we are back to the fall of 2008."

Now they are saying the massive plunge was the result of a typo at a trading firm ... the guy entered (B) [Billion] instead of (M) [Million] ... Wow!

Ladies and Gentlemen, we have all been witnesses of the greatest FAIL in a long time.

News Headlines

 

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[Bond]

"What happened today...it's the Matrix"
"If crude would still be trading, it would be down about $20..."

Mark Fisher from MBF on CNBC...

 

[hakrjak]

This is the only silver lining to come out of the past week.... The price of crude is headed lower, and the US Dollar is getting stronger.... Who would have ever predicted that?

- Hakrjak