stock market

[so.cal.fan]

PA and others:
Does anyone have any opinions on where the market is going?
I was one of the suckers who lost my a** in the Nasdaq.
I did sell some techs and got out, but unfortunately reinvested in the QQQ (cubes). YIKES. Needless to say, I am down over 50%.
It is too late to sell, so I have to sit and wait.
Did anyone out there make any money in 2000?
If you did, you are a GENIUS. Far more impressive than winning at the track. Much more difficult, in my opinion.

I hope it goes well for us all this year.

[smf]

So Cal fan,

I certainly lost in the 2000 market, but know of people that did profit. They shifted from techs to oil and bank stocks in the first qtr.

Amazing isn't it that we constantly dig to find everything we can about our racing wagers. We look at it from every angle possible before investing. We avoid touts like the plague.

Compare that to the avg Joe that is playing the market. He listens to the so called experts, who more often than not, will get paid by commission (sales). Churn is what they're after. Only a 'tout' could say last fall that we hadn't hit a bottom. Of course, the public listened to these so called experts.

The only company's stock I've ever purchased that I truly knew anything concrete about is the one I used to work for. Most people invest hundreds of thousands of dollars in corps they really know very, very little about.

[so.cal.fan]

I think it was Warren Buffet who said he never invests in anything he doesn't understand.
You sure bring up a good point, smf, you are smart not to invest in anything you don't know a lot about.
I invested very heavy in fiber optics/broadband, even though I have read about it, I sure don't understand what it is about!
I can't believe I did this. I have always been conservative at the track, in yet I was loudly criticizing all the conservative investors in the market, I even told my own brother he was a "sucker" not to get in on the "gold rush". Well.................I have been real quiet of late.
I don't think the stock market experts are as smart as handicappers.
That is why I posted this question on PA instead of one of the stock boards.
Thanks for your input. I think you answered my question.

[PaceAdvantage]

so.cal.fan,

I'm a relative newbie when it comes to the markets, although I have devoured at least 7 books on the subject of investing (mainly short term daytrading and swing trading). (I do hold an MBA degree, but that doesn't teach you much practical info when it comes to actually making a profit in the market)

Still too early to tell in my opinion if we have actually hit a bottom. Markets have rallied as of late, but the consumer has yet to feel the full brunt of what is going on in the economy at the moment. It usually follows that companies get hit first, (which is the phase we just went through), and then the consumer feels the pinch.

However, the market generally discounts 6 months into the future or so, and the DOW has gained about 1000 points in the last couple of weeks.....so....I would be cautiously optimistic at this point, for whatever that's worth!! There really is no reason why the markets should go all that much lower....tax selling is over, corporate losses are already for the most part factored into the equation...etc. Like I said, I'm a newbie....LOL

==PA

[Aussieplayer]

Please allow me to just say that if you read some of Buffett's methodologies in some of the better books out there, apply it to your own needs etc., you'd do well.

I guess I'm saying that you can have your day trading, options etc., I'll just invest quietly in a few simple stocks for a decent length of time and get a great return, better tax treatment and less of a headache (ie. I'm fully invested in my OWN stocks, yet haven't looked at any share prices in over 2 weeks!).

Too boring for some. Guess I consider myself to be a cherry picking win bettor with flat bets when it comes to the market.

And that's why smf's style of play (on the horses) appeals to me.

Regards
Aussieplayer

[smf]

Aussieplayer,

I saw Warren Buffett on the news last month. Man, is that guy ever enjoying the goings- on in the market, or what? He looked and sounded very reassured of his style, that's for sure.

Just for the record, I do wager trifectas on 3-4 yo turf races by using my own trainer data, jockey tendencies, and looking at breeding info . Not many plays, but good roi. Of course, a win bet is always the main wager.

For claims and layoffs, I only use win and place wagers. No exotics for wagers for me that single out live runners. Simply not worth the risk.

[Tuffmug]

The worst is yet to come. Three dollar/gallon gas will clobber the transports, increase shipping, travel and product costs. That and rolling electric blackouts will erode consumer confidence. Go long oil and short the rest!

Oil is King in the Land of Bush

[smf]

So Cal Fan,

Don't know why or how I let this get by, but my original reply was meant to read that the "touts" were announcing that we HAD reached a bottom when it was obvious we were in a tech free-fall. Therefore they were looking for more activity (sales).

I think you caught my drift. If not, sorry for the mix-up.