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Too late to get out of the market?

clearanceman 7,311 1,338 February 2, 2016 at 04:35 PM
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I lost money all January and of course February is off to a bad start too. Too late to get out or is the the beginning of a huge correction? As in Dow 12000 correction?

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#2
Nothing is lost until you decide to get out.
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#3
buy high sell low
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#4
If you have to ask...maybe you'd be better off dollar-cost-averaging into the index funds.
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#5
I would hang on. Had 100k in dec. Dropped down to 80k within last 2 weeks. Now its back up to 94k thanks to FB and got lucky with oil stocks. Rest of my stocks are still down but all of them are big trusty companies(Amazon, Google, etc). I think markets are all down due to China and crude oil. I would wait. Buy more at this low if you have free money that doesn't hurt if you lose it.
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#6
Quote from teetee1 View Post :
Nothing is lost until you decide to get out.
Or you get kicked out.
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#7
Quote from joon82 View Post :
I would hang on. Had 100k in dec. Dropped down to 80k within last 2 weeks. Now its back up to 94k thanks to FB and got lucky with oil stocks. Rest of my stocks are still down but all of them are big trusty companies(Amazon, Google, etc). I think markets are all down due to China and crude oil. I would wait. Buy more at this low if you have free money that doesn't hurt if you lose it.
I was stupid enough to have some stuff in biotech. And I still do. I know, condolences to me. So get out of everything or just biotech?
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#8
I still have all but biomed. Sold 20k biomed and played that 20k like mad crazy. Half of my profolio was FB so I got most of it back. Im still up 11k this year even with crazy down fall. Got lucky with uwti, dwti, wti, and meet. Im still new. No idea how stocks work. Beginners luck. Also Im a tech geek so I keep up with news and buy when they release product thats going to be a big hit.
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#9
Quote from joon82 View Post :
I still have all but biomed. Sold 20k biomed and played that 20k like mad crazy. Half of my profolio was FB so I got most of it back. Im still up 11k this year even with crazy down fall. Got lucky with uwti, dwti, wti, and meet. Im still new. No idea how stocks work. Beginners luck. Also Im a tech geek so I keep up with news and buy when they release product thats going to be a big hit.
You are new and are still comfortable playing around with 100k? EEK!
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#10
Quote from clearanceman View Post :
I lost money all January and of course February is off to a bad start too. Too late to get out or is the the beginning of a huge correction? As in Dow 12000 correction?

I lost money too. Want to know what I did? I bought more stock index funds.

My recommendation before you do anything is you should reevaluate your investment policy statement to address your risk tolerance, investing objective/philosophy, frequency of monitor/rebalancing, etc. In other words, why are you investing, what are your goals, how much of a paper loss can you suffer and sleep well at night?
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#11
Quote from vbt View Post :
I lost money too. Want to know what I did? I bought more stock index funds.

My recommendation before you do anything is you should reevaluate your investment policy statement to address your risk tolerance, investing objective/philosophy, frequency of monitor/rebalancing, etc. In other words, why are you investing, what are your goals, how much of a paper loss can you suffer and sleep well at night?
I can handle the 8-10% for sure but my biotech stuff is down almost 30%. I think the whole sector is in huge trouble politically. My fault for riding it up for a few years. If something seems too good to be true... Perfect storm of political candidates questioning drug prices, weakening market due to lowered price of oil, and end of 0% interest of QE. The question I'm asking myself is do I dump my biotech funds at a big loss and move into other sectors that are down 8-10%, or do I hope for a bounce in biotech so I can sell at less of a loss?

Any ideas on this, I kind of think the sector is broken. If you look at biotech, it was flat for almost 10 years and then it shot up like a rocket near the end of 2010. Really, it wouldn't surprise me much if it isn't just returning to where it was for 10 years or close which means it's got a LONG way to fall.

Other people say well, with an aging population and obsession with health and youth biotech is going to bounce back and reach new heights.

Thoughts on this sector?
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Last edited by clearanceman February 4, 2016 at 05:00 AM
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#12
Quote from clearanceman View Post :
I can handle the 8-10% for sure but my biotech stuff is down almost 30%. I think the whole sector is in huge trouble politically. My fault for riding it up for a few years. If something seems too good to be true... Perfect storm of political candidates questioning drug prices, weakening market due to lowered price of oil, and end of 0% interest of QE. The question I'm asking myself is do I dump my biotech funds at a big loss and move into other sectors that are down 8-10%, or do I hope for a bounce in biotech so I can sell at less of a loss?

Any ideas on this, I kind of think the sector is broken. If you look at biotech, it was flat for almost 10 years and then it shot up like a rocket near the end of 2010. Really, it wouldn't surprise me much if it isn't just returning to where it was for 10 years or close which means it's got a LONG way to fall.

Other people say well, with an aging population and obsession with health and youth biotech is going to bounce back and reach new heights.

Thoughts on this sector?
Nobody knows what will happen. If you're not comfortable being heavily invested in Biotech then you should divest. As you've seen, it's excessively risky to have any one sector be a large part of your portfolio. That is one reason that many who replied before me recommended investing in index funds.
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#13
Quote from dhc014 View Post :
Nobody knows what will happen. If you're not comfortable being heavily invested in Biotech then you should divest. As you've seen, it's excessively risky to have any one sector be a large part of your portfolio. That is one reason that many who replied before me recommended investing in index funds.
Thanks, I'll plan to diversify farther. Just hope I'm not too late. I wanted to do it yesterday when it had a rare up day, but I was on the road. Looks like today is yet another down day. There were only three up days the entire month of January.
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#14
double down. go big or go home.
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#15
Quote from clearanceman View Post :
I can handle the 8-10% for sure but my biotech stuff is down almost 30%. I think the whole sector is in huge trouble politically. My fault for riding it up for a few years. If something seems too good to be true... Perfect storm of political candidates questioning drug prices, weakening market due to lowered price of oil, and end of 0% interest of QE. The question I'm asking myself is do I dump my biotech funds at a big loss and move into other sectors that are down 8-10%, or do I hope for a bounce in biotech so I can sell at less of a loss?

Any ideas on this, I kind of think the sector is broken. If you look at biotech, it was flat for almost 10 years and then it shot up like a rocket near the end of 2010. Really, it wouldn't surprise me much if it isn't just returning to where it was for 10 years or close which means it's got a LONG way to fall.

Other people say well, with an aging population and obsession with health and youth biotech is going to bounce back and reach new heights.

Thoughts on this sector?
Dude, we are on the cusp of a biotech revolution. Why would you hop out now?

I don't think the sector is broken. Yes there are headline risks due to political pressure. But a lot of the drop is also people using the biotechs as the piggy bank. It has been up a lot so people harvest the profit to use on poor performing investments hoping that they will turn and outperform.

I'm heavily into biotech anywhere from GILD(The "Apple" of biotech) to CELG to GILD(Moonshot). GILD is where I have my hopes pinned. It's been a long long long road. It's infamous for being that biotech that has never produced a drug but yet somehow manages to survive. I've been in since the start. I should have sold at $50. Didn't. I'm loading up the truck anytime it goes under $3. Like today. Their science is sound. The original founders won the Nobel for it. Short term, it's the cure for cancer. Not just a cancer. All cancers. Not just a treatment. Not forcing cancer into remission for a few years. Cure. As in forever. Long term, it's the cure for death. As in immortality. I think that's worth something. J&J has bet $900,000,000 on them. The odds are against them. Only 3% of all drug companies will ever get a drugged approved. I have faith in the science. My biggest fear is that someone will buy them out for $10. That would suck big time. I want them to stay independent. If the tech works, they will be worth a mint.
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