Thread: Financial News
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Old October 25, 2018, 01:15 PM
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zman zman is offline
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Quote:
Originally Posted by iDumb
Come to think of it - maybe I should have tried to time it. Kinda saw the sell off coming the way index was behaving with few top weighted companies holding the index intact. I am so emotionally detached. I am at minus 45K this month and I don't feel anything. It would have been worth while to time it i think.

I am still not convinced this sell off is over though. This is very typical market selling... back to back days of selling followed by positive blips but the downtrend remains. It's somewhat hard to read opinion pieces that write some stocks are cheap and on sale and asking readers to buy. NOt too sure that's the best advice. I know it's october historically a selling month but that's for tax purposes and u would see losses if market didn't do particularly well (why would ppl sell to pay taxes ?) . Perhaps the midterm election may turn things around but then what will prevent market to go farther down when federal reserve will show no inclination to stop raising rates? Some of the earnings aren't really justifying the stock prices either.

mortgage rate already close to 5. I just got a quote at 4.75 when 3 years ago I was getting 3.5. with the new tax laws and this rising rate i expect the housing price to fall further into 2019. Also if market falls, housing will follow also.
I've been a seller since the beginning of the month. Generally I don't sell stocks directly unless they're part of my high risk allocation. My way of selling is buying put options instead to protect the losses. I agree with most of your concerns. In addition, I'm not sure midterm results will help turn things around. Democrats will likely regain control and they'll make it difficult for Trump to effect any policy changes going forward.
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