Down goes the Dow

If you can spare the cash Russian Stocks must be a bargain at the moment.

K5 wrote:

The bet ain't over until I return to the market.

Which I will after the next collapse seems to be over. When I suspect the Dow will be well below the 15k I got out at.

The only question is when. I panicked too early this time. Which is okay; I was a little late getting out in 2008 and rode the Dow down from mid 1ks4 to mid 12ks before I got out while you geniuses enjoyed the ride down to less than $7k

Just to get this straight: you "win" the bet if the Dow goes below 15,000 at any time in the future. Wow, that is bold. You sit out 7+ months of gains (and counting) and your reward is to get back in the market near the same place you sold? I also like how you criticize the "geniuses" (your term) who held stocks during the 2008 crash while praising yourself for getting out at 12k. If you'd bought more at 12k, you'd be up 33+% on those stocks over the last five years.

This remains one of the funniest threads I've ever read. I don't know if it's funnier that you were so wrong, or that you refuse to admit to being wrong. Both are hilarious.

Klondike5 wrote:

What's the bottom?

I am betting sub 13,000

Also, this.

113 wrote:

This remains one of the funniest threads I've ever read. I don't know if it's funnier that you were so wrong, or that you refuse to admit to being wrong. Both are hilarious.

K5 certainly has his faults, but he did admit to panicking and getting out at the wrong time.

right back at all time highs for the SP 500 and small caps

impressive rebound after yesterday - this has to be very bullish.

113 wrote:

I also like how you criticize the "geniuses" (your term) who held stocks during the 2008 crash while praising yourself for getting out at 12k. If you'd bought more at 12k, you'd be up 33+% on those stocks over the last five years.

I don't want to sound like an apologist for K5, but this is also not an accurate representation of what he did. If I understand what he's been saying, he got out at 12k and then let it ride lower before buying back in. That was certainly a winning set of moves.

The problem us that he was timing the market. It worked for him that time, but not this time. It's a fool's game.

fisky wrote:

The Dow might be setting up a double top (or "M" top) that would signal the end of a 2 1/2 year bull market. The left side began 12Dec and finished the first side on 2Jan. The next move was down to 2Feb and then back up to 16397 last week. A move below the Feb low close of 15440-ish would mark the completion of the right side and signal a major reversal.

A move that low would also close below the 200 day MA at 15,570, which would be another bearish signal.

There is also a mini "M" pattern on the left side of the M. Another mini M pattern on the right side would indicate a test of the 15440 level.

I wouldn't be investing more money in the SP500 right now.

This "M" pattern now appears unlikely since the S&P500 has set a new all time high. Most indications are for a new DJIA high in the next few trading days.

HA! You told him!

Yeah but his VP candidates were even worse than...Biden.

new highs for most of the major indices

And in more important news, I am up a percent or so in gold - first time ever. I expect this will reverse itself quickly.

Some day I will buy some gold, just for the sheer irrationality of it.

Maserati wrote:

Some day I will buy some gold, just for the sheer irrationality of it.

heh

it does feel like I am a tourist in some other investing land

Do this hold the all-time record for longest thread?

uioer wrote:

Do this hold the all-time record for longest thread?

Nope. Just look down the page for one example.

agip wrote:

Maserati wrote:

Some day I will buy some gold, just for the sheer irrationality of it.

heh

it does feel like I am a tourist in some other investing land

Got you beat in bizarro investing land tourism, I currently own coal miners

dumb wrote:

agip wrote:

heh

it does feel like I am a tourist in some other investing land

Got you beat in bizarro investing land tourism, I currently own coal miners

nice contrarian play - what is your thesis?

Maserati wrote:

Some day I will buy some gold, just for the sheer irrationality of it.

I bet K5 has invested a lot of money in gold (Idiot.)

agip wrote:

nice contrarian play - what is your thesis?

There is virtually no downside left after about two years of brutal selling. I think they capitulated in January and they might make a run with miners and metals. If they don't, wellp, stop loss. Up 2% today.

Good grief. Thanks for contributing to the humor of the thread. Your cluelessness actually made me chuckle.