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Yesterday’s Selloff

Started by Jorge · 10 months ago

I was under the impression the selloff yesterday was a result of the continuation of the housing and financial crisis with housing reports indicating a decrease in median home prices by a good 3%. It seems the market was fixated on another piece of news yesterday, the FOMC minutes from three we ... Continue reading »

4 comments

  • Kyle M. Stephens

    1 year ago

    A nice turn-around today, huh? I didn't expect it either. When the yield of a stock like Bank of America goes above 5% though, with little threat to the dividend, there's bound to be some buyers.
    reply
  • Jorge

    1 year ago

    Yeah there has to be some buyers. Although I heard from the financial websites that today's rally may have been due to the Fed cutting rates on Friday. I think that's what bothers me the most about playing in the stock market. Any little rumor can swing stocks one way or another. But at least it's fun when you're on the winning side!
    reply
  • Super Saver

    1 year ago

    Jorge,

    I expect downs (like the 280 yesterday) and ups (like the 244 today) to continue for awhile. However, I am just holding for now. I don't plan to make any purchases or sells until a clear direction is established.

    BTW, my portfolio was down 5% yesterday and up 2% today. Still positive, for now :-)
    reply
  • Jorge

    1 year ago

    Yeah I just caught your reply on your blog a little while ago. My main problem's my inexperience. I've been buying on the way down with a couple of stocks (XTO being one of them). The purchases themselves aren't bad, the timing of the purchases is.

    I'm down about 10% so far which is not a good thing. Thankfully it's 10% of a relatively small amount (under $2000). I'm using this time as more of a training exercise, or tuition even, until I start playing with real money. Good luck tomorrow. If the rumors of a Fed cut are true, I might make back that 10%!
    reply
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