Should I pull money out of stock market?
I currently have:
CHK, HLX, STP, GE
I am 18 and trying to grow my money. I currently have around $20,000 invested in the stocks above. Should I "cash out" or hold them in light that the stock market is quite volatile right now.
500 GE (bought at 13)
250 CHK (bought at 10)
400 TRRKX (bought at 13.50
125 HLX (bought at 35)
75 STP (bought at 45)
- Anonymous1 decade agoFavorite Answer
i really need more info, but i suggest staying in GE. HLX and CHK and STP will be volatile. You seems to like your energy : ). But energy stocks are VERY volatile in this market. For that matter, i would stay in everything. Energy stocks will fall 3x as much as the dow jones in this economy, but dont pull out. You are young and most, if not all your commpanies will get through this mess. Also, once your stocks break even, i suggest diversifying your portfolio a little bit more. But for now, i will tell you to hold. You can read here about when the ecnomy is supposedly getting out of this recession:
- Anonymous5 years ago
Unless you're a day-trader (in which case, I can't help you), investing requires patience. You can't expect too much too fast. It may take a pretty long time to see sizeable gains, perhaps a few months or more. Don't get down over a small loss over a 4 day period. Now's when you find out if you really have the stomach for trading or not, especially in light of how turbulent the market has been. It's easy to invest when stocks are all going up, like the last few years have been. If you're looking for quick money, you're going to find it harder to make in the current market, though it's still very possible. My advice: give it time. I wouldn't dump a stock unless some God-awful news sends it plummeting and you don't expect it to recover for a few years.
- thomas pLv 71 decade ago
I would sell HLX, STP and GE. In turn, I would move part of those funds into CHK. At your age, I think you are too diversified. Develop some strong sell rules for any stocks that hold. But, no it would not be a good idea to go to cash. Keep an eye on NUAN for a better tech buy. TRRKX looks like the diversification that you seek. Three holdings in a 20K portfolio is sufficient. Good luck.
- ThorLv 71 decade ago
I enjoy hearing you say you want to sell now. I would like to hear more of that.
When the last weak hands sell at the bottom, that means it is a bottom and time for me to start margining my account and buying big time. (grin)
I am all in at the moment. I "might" get out temporarily on another trading basis but only if this short term rally gets carried away to the upside, overpriced short term.
But with prices so low, I would rather be in that out. I think we have seen the worst of it by this time. I think we headed for improvement in the economy. Even if we have another dip down, I doubt it will stay there long.
IMO, it would take another major shock to the economy for us to hit a new low and I can't see that happening at the moment (that could change though).
One possibility is GM tanking, bankruptcy, closing plants temporarily in June and we could hit a new low in July, maybe. It depends on how the rest of the economy looks.
But aside from that I think we will be much higher a year from now so I am comfortable being in the market.
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- Gerry, LouisianaLv 41 decade ago
GE - Hold / Consider going short if stock falls below 9.50
CHK - Hold / Consider going short if stock falls below 16.50
HLX - Hold / Consider going short if stock falls below 4.50
NUAN-STP - Hold / Consider going short if stock falls below 10.30
TRRKX - I would try to get a more aggressive fund like Small or Mid Cap funds. Those will be the first to recover.
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- Space Invader101Lv 61 decade ago
Definitely hold General Electric shares. Those shares will be worth a fortune in the future. I wouldn't sell any of those stocks and mutual fund..
Meta Stock charting software (recommended): http://www.equis.com/
I highly recommend Meta Stock charting software or at least a similar program. One of my early mentors recommended it to me. That was the turning point. You should be able to able to claim it off your tax.
Hope that helps.Source(s): Full-time global stock trader - 10yrs experience.
- Anonymous1 decade ago
Get out before it's too late, Dow -289.60