If your buying there is great opportunity for nice quick bounces

[whodi]

Take advantage of these movements but not for long holds

I bought RIMM recently at 60.55

[BigFratDaddy]

what about apples plunge? whats your take on that?

[whodi]

I would be buying at these levels if you have the $$$ and take advantage of these huge drops

[rjb1816]

apple was downgraded by a couple analysts today so i dont think there will be a bounce today but possibly in a few days...it may follow rimm back up

[BigFratDaddy]

yea i wasnt necessarily thinking apple boucning back today...really just in the future just in general.


do you think they have hit their low, or more plunging to come?

[rjb1816]

i would say a general bottom would be about 100 but that really depends on how bad the market sells off on the news of no bail out...nobody really knows what will happen. lot of headline risk in trading right now that affects the whole market

[whodi]

It will definitely rebound IMO, so pick a strategy that fits your trading style. Buy a position around these levels, maybe not to aggressive, and if it falls further than you can add at the lower levels and your average position will be better as well and if it holds around these levels and does have a nice quick rebound and starts moving up your happy regardless or you wait on the sidelines for now until you feel more comfortable. To hard to pick bottoms thats why I take positions on drops like this and keep adding if I am that confident for a rebound, so I have my position set. I personally don't pick a price and hope it goes there and maybe miss out.

[whodi]

Sold off all of RIMM recently at 63.10, gain of 2.55

[BigFratDaddy]

im extremely confident apple will return to form, unfortunately i dont have enough coin to make a solid investment in that at the moment.... it is on my watch list with a few others

[whodi]

bought back in at 60.45

[whodi]

just sold entire position at 64.20, gain of 3.75

[Jimmy K]

this market is great, buy on dips and sell for quick profits, it's really the only way to make money right now cuz if you hold to long you get beat. take a look at qsii, great stock to play in this market as well as others.

warren buffet has always said to buy on fear and sell on happiness, that's how you make money.

[whodi]

Originally Posted by Jimmy K

this market is great, buy on dips and sell for quick profits, it's really the only way to make money right now cuz if you hold to long you get beat. take a look at qsii, great stock to play in this market as well as others.

warren buffet has always said to buy on fear and sell on happiness, that's how you make money.

100% agree with the trading style Jimmy. Thats why I wanted to make the post, especially with these market conditions.

[Goods]

Yep, market's way too wild to hold much if anything right now for more than a day, if that.

I try not to forget we're seeing also a great opportunity for the investors. Although not quite yet. But with panic like this, there's gonna be a some cream of the crop companies who filter out and come back huge. AAPL I'm iffy on because of Jobs' health issues. GOOG, BAC, JPM, MSFT, MCD, AMZN, COST, TGT, TM, HMC, etc. can be had at deep discounts to pay off nicely in a 401k. In a few years, companies left standing like Best Buy will be the first place people go when a bull market comes back in style. Although I love trading short term, I can't wait until there's an actual direction again, where one company or news story doesn't swing the market 400 points. This bear market's been brutal with the swings. And then the feds go and take away shorting on the companies that deserve it most. Bring on the election already. JMHO

[legion3pm]

this market absolutely sucks for someone like me. i have no clue really how to find the bounce on a stock. when stocks go down like they did today the best thing i can do is watch. im scared to death to put my money into anything right now. anything you all look for as far as quick bounces go? Whodi was money today with his bounce picks.