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I just made 4,469 USD in thirty minutes.
Enigma
Member UncommonPosts: 11,384
If you have money, invest in it now.
Depression my ass lol. I never made this much money in stocks EVER. Seriously, if you have a couple hundred bucks call a broker now....hell..etrade it even.
People who have to create conspiracy and hate threads to further a cause lacks in intellectual comprehension of diversity.
Comments
No kidding, in cases like this, where issues are caused more by panic than anything else, those that keep a cool head stand to make a lot of dough when or before everyone else come to their senses.
No man is an island, entire of itself; every man is a piece of the continent, a part of the main. any man's death diminishes me, because I am involved in mankind, and therefore never send to know for whom the bell tolls; it tolls for thee.
Hemingway
The best time to make money is when theres fear.
"If you want a picture of the future, imagine a robot foot stomping on a human face -- forever."
Amen to getting in early. I moved significantly out of cash last week and while I didnt catch the tail bottom I made up most of my losses already or have gained..examples:
INTC at 16.21
CSCO at 18.87
AMOV at 32.41
JNJ at 56.55
I also bought into Ford and GM (F at 3.05 and GM at 6.18) because I figure one of them has to make it and will at least quadruple within 3-4 years...making up for a complete loss of another. If they both survive? Bonus.
On a personal level, that's true. But the system as a whole is bleeding cash over this. I've never had much patience for these panic attacks, but people are letting their fear cause the problems they are afraid of, its a bloody rediculous situation.
No man is an island, entire of itself; every man is a piece of the continent, a part of the main. any man's death diminishes me, because I am involved in mankind, and therefore never send to know for whom the bell tolls; it tolls for thee.
Hemingway
Nicely done
Too bad I don't have the money to buy low priced stocks, or I would have done it long ago.
I put in $2600 since this all started. That's a lot for me, as I pay for school out of pocket, and my previous high for a year is $700. I can't wait to see how high it ends up going. It's always a matter of waiting for all of the stupid people to get out.
member of imminst.org
you'll come out nicely ahead. Its amazing how stupid some people can get. The only people I would recommend to get out now are those in their early 60s. Other than that, ADD more in!! you'll get some fast cash right now.
People who have to create conspiracy and hate threads to further a cause lacks in intellectual comprehension of diversity.
you'll come out nicely ahead. Its amazing how stupid some people can get. The only people I would recommend to get out now are those in their early 60s. Other than that, ADD more in!! you'll get some fast cash right now.
my dad is 62, and he took all of his vacation pay and put it in. There is no reason to put out now, you are only going to lose money
member of imminst.org
It's nice that you made money.
But this is just gambling people are doing, only one negative announcement has to be made and you'll loose all your profit.
Gambling is what got the economy in the state it is now. Banks gambling people's money. People shouldn't be able make money like this. It's just a way I look at this, don't take it offensively please.
There were jail sentences attached to people making money from money in the middle ages, my opinion is very mild compared
.
People always have, and always will make money from money. This is just a more direct way of doing it.
Money is power, and a tool, and you use that tool to give you even more power, and more tools. It's called wealth.
I do agree it's gambling though. The only reason it's going up is because the government is planning another form of bailout with the banks.
"The greatest trick the devil played on humanity in the 20th century was convincing them that he didn't exist." (Paraphrasing) C.S. Lewis
"If a mother can kill her own child, what is left before I kill you and you kill me?" -Mother Teresa when talking about abortion after accepting the Nobel Peace Prize in 1979
and Hitler exterminated the Jews for it too. Nasty people capitalists, they deserve it.
Well done Enigma, what did you buy and what time of day?
I have never seen this much volatility in the market in my LIFE. It is up 600, down 400, and up 200, and down 400, and so forth.
It could be a sucker's rally, but be mindful the global markets CRASHED (devalued under 20%).
I am looking at Russia, if you want to play this game, where the market crashed 61.4%. I am going to Argentina this Christmas --in the USA, while it is winter, it is summer in Argentina-- and their market crashed nearly 40%. If you are going to "buy at the bottom," and I do not think we have reached there yet, you could buy index funds in other stock exchanges.
Codicil
You do not "make" money until you "realize" it by selling it.
Edit: The dollar rally, I believe, and I want to be wrong, is a sucker's rally. What influences the price and demand for the dollar?
A good book is "Sway: The Irrestibile Pull of Irrationable Behavior" http://www.amazon.com/Sway-Irresistible-Pull-Irrational-Behavior/dp/0385524382/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1223931251&sr=8-1
that's what people don't get about the market. There are only two times you can really lose money.
1) if a company you bought into goes out of business
2) when you sell
The people that sold over the last couple of weeks lost money, I didn't. The stuff that went down will rebound eventually and I'll get whever was lost back.
member of imminst.org
And in the meantime....I get dividends.
There is an element of gambling to investment. But it is fundamentally different which is why you get such poor odds investing in stocks.
A gamble is when I risk something in exchange for a possible gain.
In an investment I am lending someone money I am not using in return for a share of their proceeds.
For the most part investors/pensioners like me are not seeking to gamble at all. I just want a good return. A decent dividend to live off. There is an element of gambling, especially if I am looking to make money on the appreciation of the value of my stock. A capital gain. Mostly I just want my pension payments.
The capital value of the assets goes up and down (mostly up thankfully) as long as I don't sell I don't pay the 40% tax. I make my money on the dividends. The twice yearly thank you cheque.
Enigma, since you're in here laughing about the Depression and implying that everything is roses from here on out I'm going to have to ask you to prove that:
1) The old problems have been dealt with
2) The new problems, the ones that will keep popping up for the next three years, have been dealt with.
The fact is they have not been dealt with. The bond market wasn't even open today. I am cautiously optimistic, but your attitude shows that you have no idea that the world is literally on the brink. If we manage to pull out of this, it will have been by the entire collective force of every single nation on the earth throwing everything that they had at it.
Yeah, there was never a threat of a depression right? It is still there my friend. There were rallies just before and even during the 1930s. In fact, the only other 11% rally was in 1933...
___________________
Sadly, I see storm clouds on the horizon. A faint stench of Vanguard is in the air.-Kien
http://www.penny-arcade.com/comic/2006/12/13/
People who were long in the GD did not recover till 1987, adjusted for inflation. And #1 has been happening a lot, and will continue to do so. But hey, those stocks selling at a dime and a quarter might eventually regain 120 bucks in as many years.
___________________
Sadly, I see storm clouds on the horizon. A faint stench of Vanguard is in the air.-Kien
http://www.penny-arcade.com/comic/2006/12/13/
Not every company suffers in a receesion or a depression. Not all stocks will be going down.
A cash business company like Wallmart for example quite probably makes more money lending out the cash it gets in everyday to overnight markets or by day trading than it does selling it's goods in the shops. You know the kind of thing, buys it's goods in and pays for them 6 weeks later on invoice, but sells them on the second day and has 5 weeks of investment time with the cash before it pays it's suppliers back.
In a climate like this a company with a steady turnover of cash has the potential to make more money now that the lending rates are up.
I made over $2,000 bought MSFT at $21 and sold it today at $25.50 right as the market closed. I had 500 shares and could have bought so much more but I was playing it safe. Things like this do not happen often people. If the market rallies again tommorow (which I doubt) im going to be kicking myself. 900 points in a day was damn impresive though.
_____________________________
At the turn of the century...
In 2008...
Cracked.com voted Roosevelt as the most badass President of all time.
This is his story....
Don't forget that the bonds markets and the banks were closed today!!
I think it will rally again tomorrow. It will be a really huge rally as they have just partially nationalized 9 major banks in the US, and every other nation on the Earth already has or is in the process of doing much the same relative to their own this week. I predict rallies all this week.
After that, either the market returns to normal or it resumes the steady decline from last week. If it resumes the steady decline than we are in deep poop as the other option the government will take is all-out nationalization of the banks. In which case, the USA would actually be put at risk of insolvency as it would be the entity held accountable for the debt of the banks.
We already have over 10 trillion in debt, the derivatives are 600 trillion alone, the housing market hasn't bottomed, the credit markets aren't thawed, and the baby boomers are going to be retiring soon. Our GDP is only 14 or 15 trillion
___________________
Sadly, I see storm clouds on the horizon. A faint stench of Vanguard is in the air.-Kien
http://www.penny-arcade.com/comic/2006/12/13/
I bought 200 shares in Nokia last week, and I placed a sell order toay. if the sell order executes, I will make a cool 1300 swedish kronor (about 160 USD) after commission and tax.
Really high taxes on capital gains in sweden 30%.
Hats off to Enigma and anyone else who got in last week or yesterday.
People have to realize that putting your money to work into the economy (to make it make money for you) is always a risk.
But unlike other investments the stock market in the end always wins out. It is like the opposite of the casino. Even the busiest casino can have a down day or two when a few people get lucky.
When stock markets revert back to prices from a decade ago it is a good time to get in.
People just need to become more actively involved in their investments and stop pretending like it is a guarantee.
Didn't have time to read though. I hear people are throwing their money in gold. Is this true old man? Also man you owe me 5 bucks. Im a broke ninja over here.
-In memory of Laura "Taera" Genender. Passed away on Aug/13/08-
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RISING DRAGOON ~AION US ONLINE LEGION for Elyos
yeah some were throwing money into Gold but thats not happening as much anymore right now.
btw, ive made 6,290 dollars so far (as of 8:35 am EST 10/14/08). So the 4,469 now is a little outdated
People who have to create conspiracy and hate threads to further a cause lacks in intellectual comprehension of diversity.