Domino412

Friday Wrap: This Market's Running on Empty

Regarding SDS and the "inverse" etf's...I got caught up last year buying into UYG , the pro "up" financials. I started a position at 20, kept buying in, got heavier as it went lower. Really "gunned" it when it hit around 8 thinking surely that was the bottom in financials." Wrong," it went below 3, I got out on a bounce at 3.12. Even now its below 6. It will never get to 20 again. These products are nothing but financial suicide! Stay away! I lost enough to buy a fairly nice vehicle, and Lord knows I need one now.If you want to gamble, might as well go to Vegas...and at least enjoy some pretty women on the way down.

How Much Downside Could Still Exist?

Just about when everyone thinks the "all clear" is here and everyone gets back in, thats wnen the bottom will drop out and that will mark the true bottom. Then the market will probably remain flat for some time. I have personally just about given up on stocks. I believe if one has any money left now, they should hang on to it. I've lost a bundle allready. Enough is enough!