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Old 10-02-2008, 05:32 PM
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Default Stock investing

Has anyone had any friends investing in stocks this week? I had a friend tell me they were investing in a stock because it was down.

Since when is a stock being down a good reason to buy it?

I said the stock could go even further down. What did they know about the company or the industry?

Nothing.
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Old 10-02-2008, 10:56 PM
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Quote:
Originally Posted by Steve View Post
Has anyone had any friends investing in stocks this week? I had a friend tell me they were investing in a stock because it was down.

Since when is a stock being down a good reason to buy it?

I said the stock could go even further down. What did they know about the company or the industry?

Nothing.
The trick is usually buy low and sell when you think their high.

But i've played on Investopedia.com (fake money) and I was buying just from the one company and i left it there for a long time and I ended up 1st out of 20 some so yeah.
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Old 10-02-2008, 11:09 PM
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Yep, been using puts as a hedge and also playing the Q's a tiny bit.

I believe there are a couple decimated industries that are on verge of further decimation and failure. If your friends are nimble traders, there's definately money to be made. However, if they are buying companies solely because their stock prices are down alot, I'm not sure what to say about that.

Continued weakness in the oil and platinum mrkts. portends a tremendous dark cloud looming over our economy.

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Old 10-03-2008, 05:09 PM
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There are certain businesses that are going to cease to exist as we go through this process and sure they can have low stocks, but the stocks can always go lower.

That is why it bothers me so much when people buy stocks just because they are low. I would think instead you should be able to look at it and say why you think the stock is undervalued and why you think it is going to go up before you buy it.

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Continued weakness in the oil and platinum mrkts. portends a tremendous dark cloud looming over our economy.
What is the correlation between them?
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Old 10-03-2008, 06:14 PM
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What is the correlation between them?
Mainly, they both fortell the auto industry. Oil for obvious reasons and platinum since it is used in catalytic converters and other industrial anti-pollution technology. Discounting dividends, if you had invested in GM in 1954, your investment would now be negative for that time period...yikes.

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Old 10-03-2008, 07:08 PM
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If oil is down, that also means the economy is slowing? Doesn't everyone want lower oil or does that just not happen like that? Are these trends intertwined?
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Old 11-20-2008, 10:58 PM
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Steve:

What are your friends saying now?

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