Quote:
Originally Posted by Boomer
Villages Kahuna’s advice above is the real advice needed here. But my guess is that the fever of the moment will cause this good advice to be ignored.
I don’t know why, but I get the feeling the OP could be relatively young and/or maybe just wants to ”wow” us. I was not going to bother this morning. But I am avoiding what I should be doing and hanging out on TOTV instead, so here goes:
I was young once. (sigh)
And, in my younger days, I was a bubble dancer. Ohhhhh, how I danced with that tech bubble. In those days, it was with select tech mutual funds. I did not think tech could ever lose. I would come home, flip on the business news — on the big, deep television, in its big wooden cabinet — and I would revel in my “brilliance.” But it was not brilliance. It was hubris. I got burned. But I learned.
Fortunately, I had not bet the farm — just the butter and egg money.
There are young people now betting their student loan money. That is nothing new. I knew someone who did that more than a decade ago. But it is suddenly more widespread.
My experience of what happened when I “flew too close to the sun” did not make me give up on the market. It just taught me to be a boring investor, looking at actual fundamentals and dividend histories.
Speaking of bubbles, I knew the housing crisis had to happen — drive-by appraisals and stated-assets loans and derivatives — and what a mess it was. (We are a nation of amnesiacs.)
This current insanity might be interesting to watch — including the psychology of it. This morning I saw somebody on television all worried about the psyches of the young people who are driving this.
There is definitely a fascinating psychology to it. Many who are a part of this thing are in the “everybody gets a trophy” generation, so I doubt that they will take any advice to flee to safety with their profits.
Also, there are those, of all ages, who just plain like to gamble — to the point of addiction — and here it is, at their fingertips, 24/7.
I never knew much of anything about hedge funds. I have learned a little in the past few days. They only take in big money individuals. But I keep wondering how many pension funds are into hedge funds.
Unrestrained greed never ends well.
Cassandra Boomer
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Day Trading Rule # 1 - Never risk more than you are comfortable loosing.
Day Trading Rule # 2 - Never fight the tape; (go with the flow)
Day Trading Rule # 3 - See # 1.
Day Trading Rule # 4 - Day trading should be like your first sexual experience. In and out quickly, then celebrate with a cheeseburger,
fries and a pop.