Go, Economy!

[Yoshi]

Nothing is independent when we're down 680 points in one day.

[youandwhosearmy]

Ah, it feels good to have never trusted the stock market.

Enjoy the winfall of misery suckers.

[Gooch]

Nothing is independent when we're down 680 points in one day.

That's not what I'm saying. It was already in a downtrend for its own reasons. Couple that with a depression and you're smoked. You don't stay long just to stay long. You don't stay invested just to stay invested. That's not risk management, you are left with no capital to make investments with when we eventually do bottom, and you will need one hell of a rally to even get back to where you were before going long. All because you may be too stubborn to close a position that you did not set a stop loss for in the first place. The markets can remain irrational longer than you can stay solvent.

[Yoshi]

I understand your argument, but there will be a rebound coming out of this crisis, even for stocks on the general decline.

[Gooch]

You assume that this is the bottom. I am saying we have not bottomed yet. The markets will rebound someday, sure. AAPL lost 29% over the past 10 trading days. A stop loss would have taken one out of that position around 7-8% tops.

[Yoshi]

I'm not a fan of short-term investing, so I would wait for the rebound. To each his own though.

[Josh]

I'm not a fan of short-term investing, so I would wait for the rebound.

This works well for picking up girls too.

[Yoshi]

Yeah, but don't invest for the long-term there.

[Gooch]

Would I buy at these levels? I'd be tempted to, don't get me wrong, so I can see your point. I do expect a furious rally once a plan is approved and the Street approves, however. That may even mean that this week ends up being a break-even week when it's all said and done. A nice ROI if this happens and you buy in at today's close.

[Othello Harrington]

I am tempted to pick up a couple thousand shares of GM at 9.07 and put my s/l at 8.50 just to give it a ride.