I hope you all are in cash

[quantumleap]

Thanks, QL, I was just going to post this for the board.

The poster you want to follow is 'Cyclist.' He plays ETFs, plays into the volatility. Nothing he does is 'buy and hold', but in and out in hours or a couple of days. I've tripled my account in the past month following this guy.

That said, you should have enough food and cash on hand (not in the bank) to get you through three months, minimum. And as QL points out, gold is a good investment. The Yen, too. And, get out of debt now.

Learn to garden, buy seeds and fertilizer while you can. If you have the storage capacity, it wouldn't hurt to keep a few tanks' worth of gas around, too.

All this hoarding might seem dramatic, but even if shit doesn't hit the fan completely, you'll be ahead of inflation, which will probably start to ramp up early next year.

Good luck to all of us.

Reading the thread on that board over the last few weeks has really driven home to me how much it is possible to make money in these volatile times. One can train themselves to notice when stock prices will jump. Even if you don't get in on the jump right away money can still be made.

Don't anyone think that money can be made only on stocks that go up. Oftentimes industries have inverse stocks that will go up when the industry loses value. They even have double inverse stocks but these should be traded only if you have some good experience.

 

[xpanda]

Reading the thread on that board over the last few weeks has really driven home to me how much it is possible to make money in these volatile times...Don't anyone think that money can be made only on stocks that go up. Oftentimes industries have inverse stocks that will go up when the industry loses value. They even have double inverse stocks but these should be traded only if you have some good experience.

To add....

DXD, SRS, SKF all good inverses on the AMEX. (Inverse DJIA 2x, Inverse DOW Real Estate 2x, Inverse DOW Financials 2x.)

Cyclist also notes that SKF leads the gold market, if you have the stomach to daytrade paper gold (I do not.) And that HEU.TO (energy bull ETF) leads the oil price. He expects oil to start upwards next week.

Just be aware that ETFs contain swaps, which are dodgy at best in this environment. Best not to buy and hold given the risk.

If anyone does want to daytrade paper gold, the thread "Daily/Weekly Analysis" has posters Quad G and Kingofgold performing very well. They've admitted to struggles in the past couple of weeks due to massive deleveraging and panic selling, but have on the whole been net money makers for their followers.

For sharp daytraders (or their followers), this kind of market volatility is a gift, as QL points out. Just make sure to employ stops so you don't get your ass handed to you.

 

[quinnsft34]

As one poster's tagline states: Carry cash it ain't heavy

 

[Illini]

Panic has officially set in.

 

[CapNWatch]

Chief where you at?

 

[Illini]

Chief where you at?

Nice call, I didn't have my phone on.

 

[CapNWatch]

Nice call, I didn't have my phone on.

F. figured.

 

[TonyMar]

i think we are in store for more volatility...and even tougher times ahead...

history being written w.the '08 market

 

[WharfRat+]

So much for the 7500 bottom. That's where we're at today, and everyone knows its going to go much lower. Especially after retail gets killed this xmas season.

Shit's fucked.

 

[OccamsRazor]

Unless you need the $$$ in the next few years, you really shouldn't have anything to worry about.

Emptying out your 401k is the DUMBEST thing you could do right now.

Letting the market empty your 401K is no different than an investor doing it. Only difference is that when the investor does it, he still has the cash in his hand, he can then place it in a money market and wait to get back into the market when it turns around.

Dumbest thing you can do is watch your assets dwindle down day by day. Move the money out of the market and wait the carnage out. You will then be in a position to pick up stocks dirt cheap.

Right now we are on the brink of the best buying opportunity in the stock market in the last 20 years and if the market keeps going down, maybe the best opportunity in our lifetime.

The dumbest thing you can do is to leave your money in a spiraling depreciating hole. Get out and get back in when the trend reverses maybe a year or 2 away.

Act, dont be frozen by fear Tinc.

Market poised to test 6000 next, get off the elevator now and wait to catch it back up on the way up to 10,000 in the future.

 

[TTinCO]

Unless you are in a really shitty 401k, it's not that tough to move your $ into a bond fund and minimize your risk while avoiding the penalties that you incur making a 401k w/d.

Down 450ish yesterday, up 450ish today....BFD.

 

[mj23]

I am in plastic as in casino chips !!