The credit markets are dry as a bone in the Sahara, consumers are folding, and job losses continue to grow--a terrible time to suggest equities, valued as they are. You weren't right, unless you predicted the announcement of even larger scale government intervention that amounts to companies with the worst risk management in the history of capital markets unloading their burden on society.

smtkr,

You've got $39,000 and you're telling me I'm wrong?!   ROFLMAO!!!!!!!!!!!!!!

- Vooch

I have a lot more than 39,000.

This is called a fantasy portfolio. In a fantasy portfolio, you can do things like create an entire portfolio of juniors or other speculative equities with weak balance sheets that you wouldn't otherwise buy in a real portfolio (swing for the fence).

Besides, even if I were a shitty stock picker, it still wouldn't make you right. You made a call without a reasonable basis AND you are suggesting that you are right based on 1 day of market noise.

Based on price Vooch was correct and I believe he will stay correct.  Calling a final bottom is never a good bet but I would certainly say another intermediate term bottom is in.  Nice call Vooch.

The reason is companies can always increase prices.  Cash you are baseing your trust that the government can balance the budget.

Vooch:

Are you going to eat your crow, or shall I serve it up for you?

(Really, I wouldn't push this, but you were so cocky and claimed you were right after less than 24 hours of market noise. Then you became extra condescending after I suggested that you wait a little longer before declaring that you are right.)

smtkr,

Back then, you had $39,000 or so...   Now, you've got less than $39,000 now....  $37,042 in fact.

Why should I eat crow?

Did I call the bottom incorrectly?  Yep.  However, it was a good time to be buying stocks, just like it was today.  Today, I sold out of WMT and bought 7 stocks.  During today's tankage, I switched my posture to a more aggressive Offensive position, where I'm adding more Tech, and preparing for the rebound.

I had such a Defensive portfolio that it protected me on the downside.  However, the downside risk is diminishing with each new low.

This market does not concern me one bit.  Everyone else is running around headless.

If we get another shake-up soon, I may even start selling Berkshire Hathaway to load up on other stuff.

- Vooch

Vooch:

You are just too much. You continue to deflect criticism of your terrible bottom call (which lasted an amazing 2 days) by changing the subject. You are the stokblogs.com equivalent of Jim Cramer. Congratulations.

smtkr,

> You continue to deflect criticism

In my post dated 2008-10-06 23:03, I stated I made a bad call.  Reread my reply above.  If that isn't good enough, then let's try this:  "I fucked up, with sugar on top."

I am not concerned about today's market conditions.  It's a temporary phenomenon that is going to turn into a total flush-out, imo.  The market needs this in order to rebound.

I use no margin in real-life, so quotational losses are immaterial to me.  In fact, my losses are pretty much insignificant.

I just hope your real portfolio doesn't reflect that over -60% loss you managed to lose here.

- Vooch