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10-06-2008, 03:49 PM | #24 |
Aberry is a scammer
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Drives: SGM E92 335i, AM E90 335i
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fuck this world, when are they going to let us live up in space lol...
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10-06-2008, 03:50 PM | #25 | |
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10-06-2008, 06:33 PM | #26 |
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in this market right now, buying on dips is not good enough anymore, you just don't know where the bottom is.. look at the dow chart over past month, there were alot of dips and sh!t keeps going down even more.. i averaged down like 3 times by now lol... i wouldn't touch any financials right now, look at the bank of america earnings today, down over 60% and cut dividends in half AND that's blue chip company
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10-06-2008, 06:41 PM | #27 |
Steve Forte Rio
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A -900+ drop is in the works.
Mark my words. Today, it actually reached -800+ so the title of this thread is slightly misleading, but informative nonetheless. |
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10-06-2008, 07:25 PM | #28 |
Galactic Emperor
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Agreed and I suppose it depends on how long you'll be long for. If you're idea of being long is intraday then you might be risking a lot. My definition of long would be for a more substantial rally, possibly into the coming years. If you look at it that way (and assume the market will eventually make some sort of a comeback) then you won't need an immediate exit strategy.
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10-07-2008, 12:18 PM | #29 |
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If you have a very long time horizon, then you expose yourself to wider risk or drawdown in your portfolio. However, I evaluate and understand my risks prior to entry commitment. Therefore, while I have an open position, I am focused on profit taking. It's a difficult mental exercise to master. Treat unrealized gains and losses as actuals, don't fool yourself that it is not.
So, if the market will give me a 10% profit in couple days, I'll lock it in. If it gives me a 3% gain over several months or years, it's no good.
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10-07-2008, 03:34 PM | #30 | |
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