Been lurking off and on. Enjoy all the posts.
Here's a little something I call "Stages in a Bear Market"
Bumboo
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1) Great! A correction. Perfect opportunity for me to buy more XYZ.
2) Looks like it's going more down, good, I'm buying even more XYZ.
3) OK, so it's a bigger correction, and I've bought a boatload of XYZ. When the market takes off again, I am going to make a killing!
4) Hmmm... looks like this might last a few more weeks, but not to worry.
5) C'mon, how bad can it get! XYZ is already down 40%. Let's just be patient.
6) OK, so the other sh*tty dot-bomb companies are not going to come back but my XYZ is a quality company. How can it not come back?
7) Alright, I am starting to get a little worried, but didn't whats-his-face say on TV say that LTBH is the best strategy? He's a famous Wall Street guru -- he must be right.
8) I wonder if this is another bear market rally like the other ones. I don't think I want to add any more stocks right now.
9) Boy, that stock market sure has come down a lot in past year, hasn't it?
10) Is LTBH really the best strategy ..? Stop thinking that! Of course it is, and I am sticking to my guns. Besides, I don't really need the money until I retire.
11) What the hell was I thinking anyway -- adding more XYZ at a P/E of 200? Should I sell XYZ now? But what if the market starts to go up again? I'll look really foolish having sold at the bottom.
12) Someone at work said that the Nikkei has come down from 40000 to 10000 in the last 17 years. NO WAY that is going to happen here. Red Herring says that the Japanese problems are different and much more severe.
13) How can XYZ's stock price keep going down? Why don't people buy XYZ now? Isn't it a huge bargain at $20, if it was a great buy at $120?
14) They keep saying on TV that "sellers are driving the market down". Where is all this goddamn selling coming from?! Who in god's name is doing all this selling?!!
15) Is this thing ever going to come back? Those lying, cheating, mother-f**ing analysts!!
16) I am afraid to even look at my monthly brokerage statement. Maybe if I ignore it, things will somehow end up OK.
17) Is there really an alternative to LTBH ... I wonder what it is?
18) I hate Greenspan. Larry Kudlow on CNBC said that Greenie messed up a perfectly good economy with interest rate hikes. Why doesn't Bush just fire him?
19) Some bearish dude on TV was talking about corporate and consumer debt and said to buy Bonds and Gold. I should probably investigate how to do that ... just in case.
20) Please God, save me this one time and I promise I will never buy stock in stupid or overvalued companies again.
21) Everyone is saying that the double-test of the bottom was successful. This must be it!!! This must be the final bottom. Al, Abby, and Joey all said on CNBC that the bottom was definitely in. Makes sense --- XYZ is really cheap at $8.
22) Holy crap!! It's starting to go down again. When is all this going to end ...?
23) Screw the stock market! I don't want to hear about stocks ever again my life. I am going to dump all my XYZ tomorrow morning. $3/share is better than nothing.
24) Wonder what's on TV tonight? I think I'll watch Martha Stewart's cooking show instead of that moron Luis Rukeyser and his stupid Wall Street Week. |
