Can't take it anymore !!

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ezmoney's picture
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Joined: 2004-11-30

I sold out of some american funds today. 115k in am funds in may 08 went to 86k today and sold off about 50k. markets going lower. I'll get back in at 8000. no reason for the worm to turn .

walking9's picture
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Joined: 2008-09-30

No.

ezmoney's picture
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Joined: 2004-11-30

no what?

ezmoney's picture
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Joined: 2004-11-30

mark my word eventually going to 8000. I'l wait and report back.

ezmoney's picture
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Joined: 2004-11-30

am mny mkt. when it hits 8000. i'll buy the same funds.

anabuhabkuss's picture
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Joined: 2005-05-02

You must really hate your money.
 
You will pay fees, yet again, to get back into funds you shouldn't have moved out of in the first place. Said fees would have been better off buying MORE SHARES to build more wealth since you believe and know the markets will turn around.
 
Apparently you hate simple math and reasoning as much as you do your own wealth. Sucks to be your clients (if you are, indeed, a FA)

ezmoney's picture
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Joined: 2004-11-30

c shares buddy! go ahead ride the market down. 2% div reinvested isn't going to save you this time.

anabuhabkuss's picture
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Joined: 2005-05-02

Yeah. the 1% back end fees on C's make you a ******* genius.

ezmoney's picture
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Joined: 2004-11-30

I said i went to c share money market, same fund family. i'm brighter  than you think!

walking9's picture
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Joined: 2008-09-30

It's just gambling, the worst thing would be if you make money. Eventually, you will trade against yourself to the mean, and then below. It's inevitable. Trust me, I know.

troll's picture
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Joined: 2004-11-29

ezmoney wrote:I sold out of some american funds today. 115k in am funds in may 08 went to 86k today and sold off about 50k. markets going lower. I'll get back in at 8000. no reason for the worm to turn .
 
So you took short term money, put it into the market during a bear market, took a 25% hit, then went to cash?  I don't think you are as bright as you think you are.  My first question is, why only 50K?  If the market is going 20% lower, why not dump all into the mmkt?

snaggletooth's picture
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Joined: 2007-07-13

ezmoney wrote:I sold out of some american funds today. 115k in am funds in may 08 went to 86k today and sold off about 50k. markets going lower. I'll get back in at 8000. no reason for the worm to turn .
 
I must say, I do consider myself to be the most freaked out person on this board.  With pre-retiree accounts down easily 20% now.  I have a few years cash stored away and VA's with living benefits (hopefully for the long term).  The mutual funds are getting killed, especially the "balanced" ones...those mother effers.
 
Anyways, I would love to be buying here if I had the money personally.  But as much as I want to sell, I know it is the wrong thing.
 
The thing is, the market will turn on a dime for no reason at all.  It may rally for a week, maybe 2 months, whatever.
 
What if the market never reaches 8000?  What then?
 
I won't get on your case for selling because I know I wake up in the middle of the night too, but the point to sell left the station long ago.  (Hopefully).

walking9's picture
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Joined: 2008-09-30

Down 20% is not terrible.
I always just remember, it's not my money, anyway. Seriously, they pay us for discipline, EZ is free to gamble.
 
Some CFP on Fox was saying folks should sell their 401ks down to 25% equity. No data gather, goals, timelines, nothing. They should take her before the board of ethics.

B24's picture
B24
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Joined: 2008-07-08

Here's by biggest concern for people jumping out of the market...this thing could gain back 10-15% in a matter of DAYS (I mean, WHEN it starts to come back, which we don't know when). So if your account (or a client's) is down, say, 25%, and you miss a 10-15% rally, you just locked in a 10-15% loss by not being in the market. I gree, I think it WILL continue down. But if you are going to be in the market for the long-term, and you didn't know enough to get out in 2007, then you're sort of stuck.

Gaddock's picture
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Joined: 2007-02-23

YOU SHOULD HAVE BOUGHT MORE!! You're the broker and capitulated to fear ... hate to say it but that was LAME.

Sportsfreakbob's picture
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Joined: 2008-08-24

Its great to see that everyone is pretty much in agreement that the market will keep going down. This is bullish news.I was buying this afternoon - etf's  - Consume staples, healthcare, aerospace and defense, insurance, DVY

Indyone's picture
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Joined: 2005-05-30

ezmoney wrote:I said i went to c share money market, same fund family. i'm brighter  than you think!
 
EZ, is this your personal money or client money you're talking about?

HymanRoth's picture
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Joined: 2008-08-25

Indyone wrote:ezmoney wrote:I said i went to c share money market, same fund family. i'm brighter  than you think!
 
EZ, is this your personal money or client money you're talking about?If it is C-shares, it's probably his personal money...he wanted to take advantage of those no-load shares.....Personally, I think E-Z just called a bottom for us...but not at 8000.

ezmoney's picture
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Joined: 2004-11-30

benz pymnts are fine. recurring revenue will more than withstand this market even after the 25% paycut. wouldn't want to be a transaction broker. new money will be dead in the water for 3 mths easy.

norway401's picture
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Joined: 2007-10-16

May I respectfully submit to members that are perhaps feeling more than " on the edge " this really is the time for you to offer Value Added Service to your clients. Easy to handle making money for clients not so when we are in " situations ". Review , prepare and look at options for your clients. I realize very well this is not " pretty " but again this is why you are a professional and this is why you have clients. If you panic ..... I can absolutely guarantee that your clients will panic. Continue to work on a logical approach and not an emotional resposne.

ezmoney's picture
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Joined: 2004-11-30

it's great, but I was enjoying much better a few weeks ago. tough times.

bspears's picture
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Joined: 2006-11-08

I guess I will get out my wagon, fill it up with apples and head for the corner.  APPLES, APPLES HERE, 1$ PER APPLE........Or I could start selling Property and Casualty insurance or..hell even AFLAC!

Hey Kool-Aid's picture
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Joined: 2008-03-30

bspears wrote:I guess I will get out my wagon, fill it up with apples and head for the corner.  APPLES, APPLES HERE, 1$ PER APPLE........Or I could start selling Property and Casualty insurance or..hell even AFLAC!
 
Forget APPLES bspears, BAC is on sale ....or maybe a nice insured Muni

ytrewq's picture
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Joined: 2008-08-02

Ice,I am taking your advice just incase it is the end of the world.  I am filling up my cave with beer, canned food, and cigarettes.  With those three items I could get anything I want.  Wait a minute.....at the end of the world all I will want is beer, canned food, and cigarettes.  I win!  I am smarter than a caveman.

lowpriced's picture
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Joined: 2008-01-26

Careful...the government backed guarantee on money market funds is only applicable to shares purchased prior to (APPROXIMATELY) September 20. Any shares bought after that date, no guarantee.

ezmoney's picture
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Joined: 2004-11-30

you better be shaking in your boots. I am. 50-60 trillion of cdo's out their. We don't know who has them or whem they are gonna fall scary. makes me wanna pull my money out of the market. And if you dare call me chicken this time, I'm afraid you're leaning way too much on the " this isn't any different this time " mantra.

Reggin's picture
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Joined: 2005-09-03

Chicken would not accurately describe you, you are much dumber than a chicken.

ytrewq's picture
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Joined: 2008-08-02

Reggin,Saw both of your posts and I am still laughin.  I keep visualizing that damn chicken that always wins at tic tac toe.  Don't stop until DOW 8000.

snaggletooth's picture
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Joined: 2007-07-13

EZ,
 
If you are this certain, why don't you put all of your money in QID, a short etf?  You will more than make up your c share penalty.  Certainly you wouldn't have a problem with that, would you?
 
 

walking9's picture
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Joined: 2008-09-30

EZ, google GE and look at the yield. Are you a man or a mouse?

gvf's picture
gvf
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Joined: 2008-07-01

Mr. EZ, do you have grapes or grapefruits between those legs of yours?!

ezmoney's picture
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Joined: 2004-11-30

dow 8000. had you listen to me you could have sved your clients alot of money. What are they paying for?

Indyone's picture
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Joined: 2005-05-30

It's dangerous to get lucky...you start to believe in your crystal ball.

walking9's picture
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Joined: 2008-09-30

EZ, consider taking some basic financial education before you sit here and talk nonsense.
If you want some cred, change your name, or put a pansy for your avatar.
 
Make no mistake, clients are paying us to come into a meltdown like this with an allocation and cash reserves which are appropriate to their personal situation and reasonable market expectations.
 
They are paying us to turn off the lights for them and stick wax in their ears as this roller coaster free falls through space. Perhaps you should take a trip to Disneyland and take a ride on Space Mountain. Or go home, turn off the lights, and listened to the theme song from Jaws at ear splitting volume. Dude, that is what they pay us for - feel the terror and cross yourself.

ezmoney's picture
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Joined: 2004-11-30

new bottom 7000

walking9's picture
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Joined: 2008-09-30

You have taken your own money out of the market, and you are waiting for a bottom of 7000. You won't buy before 7001, and you'll tell us when you put in the buy order. Cope?

now_indy's picture
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Joined: 2006-07-28

Indyone wrote:It's dangerous to get lucky...you start to believe in your crystal ball.
 
Great line, I totally agree.

Spaceman Spiff's picture
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Joined: 2006-08-08

walking9 wrote:If you want some cred, change your name, or put a pansy for your avatar.
 
Now that's funny right there, I don't care who you are!

Mr Wu's picture
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Joined: 2008-10-14

I'm new here and I can already feel the love.  :)

troll's picture
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Joined: 2004-11-29

ezmoney wrote:new bottom 7000
 
At some point you will be wrong, I just hope it is sooner than later.

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