Correction

[rwins42943]

As usual, after making a purchase earlier today, just prior to the CORRECTION, the price drops. I know Phil talks about the emotional rule of investing but everytime I make a purchase the price drops! Is this basically the norm? I am finding the Rule #1, don't lose money, to be a significant challenge.

[GRock]

Bailed out starting at market open. Only have four different positions but in 6 different accounts so took a lot mouse clicks. Kept Syneron and Energon. Syneron smoked up and then started to tank late and bailed for a 6.5% gain. Energon was up most of day then went for 1.5% loss for the day. Still have that and will watch on open tomorrow. 80% in cash now.
GRock

[yostyid]

rwins...I think the rules do a great job of helping you invest with a purpose in a business. But before you place ANY trade, no matter how attractive the price of the company, its a good idea to take a step back and check the macro levels. Intl markets got hammered overnight and our markets were dropping right out of the gate. Try to look at pre/after market hours activity and news. It looks like China did a bit better for tonight, but other markets are still dropping. Bottom line, take in the big picture before you take on your trade and the rule will work. Good luck.

[agrigsby]

there have been positions in my watchlist that i've been waiting for price drops. this is bringing about the perfect opportunity.

am i the only one that's taking this day as good news? hehe

[macbhoy]

At the end of the day GregJ I'm afraid. I only get a chance to see my stocks 30 mins before closing.

[yostyid]

macbhoy...Do you have a cell phone? I know some brokers can do price alerts to wireless devices and some even have wireless trading. Maybe not needed for normal usage but pretty helpful on weeks like this.

[Gunnski]

I get stock alerts for free just using Yahoo Alerts. Sent to my cell phone, PDA or via e-mail. Free is always good!$

[cowensmi]

Hey gang, I could use some help here.

I too have been holding out for a correction as most of the stuff i have been tracking is overpriced. It looks like it might be time to start looking at getting in while the prices are more reasonable. My question is this: The three tools, I have been having trouble nailing them down. What I mean is, if you look at a stock like Google today (stay with me I know that is a "risky biz" stock I an just using it as an example) the three tools were up and down all day - that is they said buy one part of the day and sell another part of the day.

Am I looking at the wrong charts? I use Yahoo finance and MSN. If you spread the chart out to 5 days or a month it helps, but to see todays results in that time spread you need a magnifying glass. At the end of today all three tools seemed to say buy. But with the market as it is, I am hesitant to make a move until I see more of a trend up.

Anyway, you get the idea. How do you guys use these tools to jump in?

Thanks!

[rantcliff]

<sigh>

So I practiced on Investopedia for about four months, read and contributed to this board and then started investing with real money in January.

So I was in about eight Rule 1 stocks and now I am in only one. Trying to think long term I had set my stops around the 30 day moving average - well they all hit either last week or this. Yes, I lost some money, obviously not as much as if I had not set the stops, but it is going to make me rethink my strategy.

I'm still learning, now the painful way.

Rich

(ps - the only stock which has not plunged yet is KCI)

<sigh>

[macbhoy]

Cell phone seems like a good idea yos, but I feel comfortable checking my charts at the end of the day. I think it's hard not to get stung on big correction days but if we pick companies we want to own for the next ten years then we are less likely to get caught up in the emotion of it all. Hopefully we can look back and see them as blips over the long run