Dow up over 450 today. You picked a hell of a time to play the stock market. Money to be made for good day traders. Us long term buyer just have to ride out the roller coaster and buy during the down times . . . will the Dow drop below 10,000?
For only having $100 I would order all of it in pennies from the bank. The copper ones are worth nearly 3x face and could go up if copper price increases. Your investment will never be worth less than $100.
I'm just hoping that the swings help out the Dollar Cost Averaging of my 401k deductions. My 16 month-old daughter's stock portfolio is riding this out better than mine, so far.
Ugh . . . I 100% agree with Cuban. I sink 60-80% of my money in wallstreet not really knowing how it works. And I've always thought along the lines of Cuban, hurts to hear someone who is in the know echo what I have feared: But Cuban is also proving somewhat prophetic in a much more unsettling way. In the spring of last year, only three days after the harrowing May 6 "Flash Crash" that temporarily plunged the Dow Jones Industrial Average more than 1,000 points within minutes, he wrote a blog post that seems chilling today. He titled it, "What Business is Wall Street In?" And toward the end, he wrote in bold, "There will be another crash." Granted, there are a lot of doomsayers out there. But Cuban is not that. He's a successful businessman -- he sold his Internet start-up in 1999 for $5.9 billion in Yahoo! stock -- and he says he's been involved in the stock market for the better part of a decade. But what makes his post stand out even more is that he named a specific reason for the predicted "crash" -- professional traders. "The only people who know what business Wall Street is in are the traders," Cuban wrote on May 9, 2010. "They know what business Wall Street is in better than everyone else. To traders, whether day traders or high frequency or somewhere in between, Wall Street has nothing to do with creating capital for businesses, its original goal. Wall Street is a platform. It's a platform to be exploited by every technological and intellectual means possible."
Well, duh. You don't actually think that, for example, Apple's value as a company has fluctuated by over $10 billion each of the last few days, right?
Oh BB, your people skills continue to amaze me. The point I was refering to is that when we throw all our retirement savings and other money into wallstreet, we really aren't investing in America but more investing in traders who will do anything (legal) to manipulate and exploit the market to make money. Now I know this is a duh point to you because you are very smart. But to some of us who blindly throw our money into wallstreet fearing that we have no idea where our money is going and what the traders are doing with it, it is enlightening to hear someone like Cuban, who has billions in the market, say what many suspected . . . wallstreet is nothing more than a platform to be exploited, it's not about investing in America.
Sorry, the "well duh" comment was directed at Cuban, not you. Anyway, the point is that the stock market has little to do with investing in a company, and valuing companies. This becomes especially evident when you start to see all of these ridiculous ETFs and Indices you can "invest" in. For example, buying/ selling shares of VIX? Options on VIX? You don't really own anything real, just some mathematical formula somebody came up with.
