FYI, I will never post on any boards again. I escaped the stock market 9 months ago with very little to show for assets except my Boat dealership. I lost 178k in slightly over 18 months. I'm still suffering the lose & am not a wealthy person. It will take at least 5 years for me & my family to rebound. I still watch the market daily(not the streaming quotes like I once was addicted), & it still hurts deeply to see so much wealth depleted from individuals. Please listen to me when I tell you to get on with your life(whether its family,friends,golf, or whatever one might hold close) & give up something that is addictive & completely life-shattering. Just a true story of someone that experienced a nightmare in reality, and still experiancing it. If this helps one person I will be fulfilled.
wish all of you the best,
Will take your story as being true. Good post because most of those on these boards can't see beyond all the catch phrases like "short squeeze", "bounce off the lows", "oversold" - and then justify gambling on a POS that keeps dropping. You're right-its addictive because its when alot of us finally get lucky and do catch one that rebounds, its the next POS that nails your ass against the margin floor and then you ratchet up your risk on the next one, etc...we all know how it works. Looks like the only way to have made money in the last great bull run was to make yourself look like some stock guru, get paid $20M a year, and pump and dump your way to easy street. I believe earnings will rebound, but the SEC will somehow, because this market depends on it,have to clean up this underlying crises of confidence. Does not look promising yet, are we to feel better everytime the talking heads on CNN ask their guest analysts something like...Do you own any shares of this stock that you're pumping? One day.
Anyways, where are you putting any extra money if its not in equites or if not directly in individual stocks, what are you investing in and in what sectors? Or when you do recover, where do you plan to invest?
It is sad that so many lost large sums of money in the market the last couple of years, because it was so unnecessary. All it takes to keep your head above water is to take what is said on CNBC with a grain of salt and never, ever listen to major brokerage analysts. You must do your own thinking and maintain a diversified portfolio including small, mid-cap, large cap domestic and foreign stocks. Diversify amongst sectors. Never base your decisions on what a stock broker (saleman) tells you. Never, ever place large bets on the hottest sector. You are just asking for trouble.
It's unfortunate that many investors will swear off the market for the rest of their lives because they listened to Wall Street hype. It really borders on a criminal act what the major brokerages have been a party to, because they have relegated a large portion of the public to be relatively poor for the rest of their lives.
I have lost close to 130K so far and suffering a lot, not sure how long it will take to recover, feel the pain everyday, i tried trading to recover losses and not inesting, but i think you have no control in this market manipulated by media and ANLysts, unless you have nice inside information to the brokerage houses and they are your friends, you lose money
market has become extremely volatile, and there is too much manipulation going on, average investor with no access to these big houses should stay away
I am convinced brokerage houses still rule the market sentiments and you are like a monkey bouncing from stock to stock..i am almost broke and not sure how many years i will have to work to recover that kind of loss.
i am blaming myself for listening to these ANALysts and their manipulation. i am an idiot who was greedy and lost money, i will feel this pain till the day die for the mistake i made in this life, very serious mistake was inveting on margins and watch money evaporate
Hi, you sound just like me. I feel your pain and after my recent stupidity in investing, ive decided to quit and move on with my life. I also lost of significant amt of $$ over the last 24 months, comparable to your loss. Yup, im addicted to streaming quotes - i owned VRSN and sold this morning before the open at 12.80 and figured i'd get out for good and never trade another stock again as long as i live (maybe mutual funds when i have some money to invest in the future). Even then, i just had to sit and watch my quotes today and sadly it pleased my to see the stock price plummet 3 pts during the day from when i sold as if i was congratulating myself for making a good decision to get out when i did. Anyways, like i said, im out for good now (hopefully). Luckily, even though i was heavily leveraged, i still have some funds left to fully pay off all my credit cards which i plan to do next week. Im interested to get to know others who are/were in the same situation as i was and i plan to start some sort of website for people with this addiction to stocks. THanks for the post and sharing your story. anyone who wants to talk and discuss stuff like this, feel free to email me at squidwardio at yahoo dot com. Wishing everyone well.
Seriously folks, when people like this come out (2nd one tonight) and say they are giving up on stocks IT IS TIME TO BUY. I am not joking...this guy must have been killed in the market and he reflects the opinion of countless others as well. This is a beautiful contrarian indicator. Do you not see it? The Street wants you to throw in the fu#@ing towel...we go up soon.