shadowsjc wrote:
strikethree wrote:
The future looks grim and unstable...
you must be one of those guys that bet against the market in 2008 right?
anyway, as i had posted earlier, BP again rebounded after going down previously. is it gonna go down to pennies like Citi did? maybe, but even they recovered from those lows. is BP going out of business? nothing i've read from a reputable source has indicated this
Honestly, I hate shorting... It makes you want the economy to fail. More often than not, stocks go up anyway so shorting is not a great long term tool to use. I only short when I am at least 80% sure that something is amiss and I always have a protective stop to get out of the position if it gets out of hand.
I try not to be a knee-jerk buyer either. If a company takes a plunge even though it looks solid, I still like to wait it out to get more facts. Investor sentiment can be even stronger than pure fundamentals. A lot of people bought stocks like BP or Toyota during it's first plunge and are now regretting it. For me, I know there will always be chances to buy/sell so I don't feel compelled to make a move. C plunged when every stock in the market took a dive when the bubble burst. I don't think these cases are comparable. If you look at the technicals, the stock has been zigzagging every since -- it's not a stock I like to play with.
So far, they've reported pretty bad homebuilding reports and Philly Fed indices. (yet the market has been flat) We'll see what happens once contracts expire tomorrow...