$.IXIC.US$ just some food for thought from Monday's lows to...
from Monday's lows to this morning's open on many tech stocks are extreme 30-35% spreads between the lowest lows to current prices now especially if you're looking at leverage ETFs.
you might be chomping at the bit saying I've got to get in now I got to get in now I'm not going to reiterate my suggestions you can go back and read them from this morning.
I think you're going to see a fair amount of profit taking going into the close Friday I think you're going to see relative to here we might go up another 1% but I think we're going to sell off going into Friday's close because people want to lock in their profits for the week because of what may happen over the weekend with Israel with Iran we have no economic numbers this week we have economic data coming out next week A bad economic data print the market's going to get slammed. so I think you need to be very very cautious you might have done what I did which I sold a lot last week and I'm kicking myself in the ass right now because stocks are higher and for me to buy back I'm paying more and that's a big kicking your ass because it means you are wrong it means I was wrong I should have just hibernated like a bear and woke up 3 days later and everything would have been fine. the market is a marathon not a Sprint they'll be opportunities to enter on weakness in the coming days. and you will be glad you kept some of your powder dry to buy at lower prices.
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35+ yrs in the trenches, raised tens of millions for start ups, syndicate ipo's, yrs on trading desk mkt maker.
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MomentumPython1337 : i sold like a fucking idiot as well and I'm hitting myself for it because my portfolio was down almost 10% in the span of a few hours so i trimmed the less convicted stocks and now theyre more expensive than where i sold
I've been through bad days but the rate of change of this sell off is not like anything we've ever witnessed in history... vix going up triple digits % in 3 days fastest increase ever never saw it before and I'm a fucking idiot
10baggerbamm OP MomentumPython1337 : I had soxl a lot I don't even want to tell you how much but an enormous position and I sold like a fucking moron because that leverage works for you when it's going up and when it's coming down it will wipe you out. and the problem is on the down days it just gaps down it's not like it's a gradual trend where you can put a stop you're already down several dollars on the bid from the prior close at 4:00 a.m. so it is a mind fuck because you're not supposed to panic you have experience you're supposed to do the right things but the market's not rational and the reality is I had opportunities to sell from July all the way down July 11th I had an enormous profit huge fucking profits. and we only had one up day which was a week ago today and then everything fucking imploded. but I went through this shit several times in my life it sucks and I have a saying I've said it before you can put it on my tombstone you can't go forward by looking in the rear view mirror.
get over it learn from your mistake the cost of education in the stock market can be very expensive more so than a college education. and be smart about your decision making not Hasty don't jump because there's always opportunities to buy at lower prices when you're patient