Dow poised for a big drop?

[hakrjak]

Great, that means Ill be selling first thing Monday morning. :smxB:

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

Andviv -- I'm investing only within my 401k, so there is no stop protection available, sadly. It's like driving a huge oil tanker -- it won't turn on a dime

Cheers,

- Hakrjak

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[GlobalWealth]

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

Andviv -- I'm investing only within my 401k, so there is no stop protection available, sadly. It's like driving a huge oil tanker -- it won't turn on a dime

Cheers,

- Hakrjak

Manually track your stops in excel. You should never, ever keep open stop loss orders with a broker anyway. I keep trailing stop loss orders in an excel spreadsheet and update them every day (or nearly every day). It took about 10 minutes to set up the spreadsheet and less than 5 minutes to update. And it gives me the control as opposed to a market maker.

 

[andviv]

...

'We cannot identify the source of the money that pushed stock prices up so far so fast.' More specifically, the source of about $600 billion net new cash necessary to lift the market's overall capitalization by $6 trillion last year could not be identified.'

Aha!

I finally found the money!

Bob and I were asking about this some time ago... and I couldn't get a satisfactory answer... well, it seems it was sitting out and now jumped into the market. Makes sense.

Now, if I could find that other thread... Bob?

 

[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!)

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[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

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[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

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[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!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[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.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[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!!!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[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

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[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

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[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!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[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?