I pulled out of most of my trading positions yesterday and will wait it out a bit... the market was up something like 20-30%, so I guess a correction was overdue. The retail numbers from this morning didn't help matters any, either. I'm hoping for a bigger correction.
I'm definitely holding F for the foreseeable future. The rally had been crazy for the past few weeks, so the current slump was inevitable. I don't see the Dow going below 8000 again, though nothing surprise me anymore!
Plus a bunch of companies are issuing an insane amount of stock, further diluting their existing shareholders.
To me, the correction should be an increasing market. A dow of 8,200 seems too low for our current economic conditions.
do yourselves all a favor and buy and hold SPNG! It's just below .03 right now and in a year or two it'll be worth 3-4 dollars, COUNT ON IT!!!!
Well I haven't gotten the bigger correction I was hoping for... Does F smell good to anyone for the long-term?
I'm confident the market will test its lows again once the USD gains some strength. USD is in a seasonal low and is the only thing left to set this market tumbling again. USD strength will put pressure on all asset classes other than gold and silver.
So, I'm at work Monday when the bottom starts to fall out on SPNG. I call my loving and wonderful wife(who is supposed to be watching the stock like a hawk) and ask her if she's sold yet. Her response "Sold what?". Ended up selling at .042 for $6930. I can live with that but have learned a valuable lesson.... Never trust a woman with your stocks! When scottrade clears my funds im on the rollercoaster again. WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEe!
