My IRA is down 20% and Im still contributing to it and dollar-cost-averaging my positions and picking up some undervalued and battered stocks.

My friend also sent me this interesting excerpt he heard on CNBC:

75% (give or take) of investors buy stocks heavily when the market is sound and the stocks are almost full prices. They have a false sense of security thinking the market is solid and it can only go up. So 75% of the traders will wait and buy at the high cause they think it's safe....which is why losses are so huge in times like this.

Whereas, those same 75% won't buy stocks when they actually should...when the market crashes or stocks are so devalued...cause everyone is so scared to invest.

I told everyone years ago

Buy pork bellies.

Bet you wish you had listened now, huh!

I lost $29k on my investments already.

But since I don't need it right now, I'll wait until it bounces back.

:2 cents:

You are fucking kidding me .. lol

Actually, ive giving up on this investment .. fuck it.
I checked closing today and its really down.. from my calculations im left with probly $9k OR 10k.. ha
Its not my life savings, so im not depressed.. But just wish i didnt have to lose out.
I honestly havent lost anything.. cos i started with about 9,5K something last year.
And its not finance

i wish i lost 7k , try another 93k ontop of that :(
now there is something to be sad about ....

nobody know what happen future

reading this thread frightens me..So many of you have lost so much $$$$..sad...:(

yeah GFY might no be the best place to ask advices on that :)

50 shares

That's absolutely false and called dollar-cost averaging. Firms like Sachs were saying that while pumping millions into Enron all the way to the bottom. And they still do it btw :1orglaugh

:1orglaugh

my advice dont trade at all if you dont know how to do it... your investment it's casino now..:winkwink:

buy gold so you can buy food when the shit starts falling

Yeah that's what they said to people who owned the NASDAQ back in 1999.

Even last year when the dow eclipsed 13K the NASDAQ never came close to it's all time high in the 5000 range.

There is no guarantee that it will come back.

Now that I'm done being a smartass (for the moment)

It really depends on what the stocks are.

Jim Cramer has a really good take on this, in times like these the companies worth owning are ones that make something people can eat, drink, or smoke. Especially if they don't have to borrow money from anyone to produce their goods.

Companies with cash on the balance sheet who produce things that people will buy no matter what (food, soap, toothpaste, cigarettes, medicine) are going to demand a premium during a recession.

Make mistake about it :pimp

your kidding right? You make it sound like all stocks are the same, you gave no background on anything. You might as well cash out, go to Vegas and put it all on red and spin that wheel twice. When you walk out the door with nothing just don't look when crossing the street and you have better odds of getting ran over by a taxi cab driver. Then sue the casino and everyone within 100 feet of you and hope for your best. If you do hit and get 60K, go deposit it in the bank before you do the taxi car bit because even better odds people will come to help you and see the money, take the money and run. Probably finish you off too.
See now you have all kinds of options, good luck