posted on Nov, 6 2008 @ 12:40 PM
reply to post by Doomsday 2029
It's kinda hard to answer your question with the information given. Your friend has money tied up in the stock market, but you don't say if your
friend is savvy enough to day trade or if it is just a 401K type of investment.
Also we have no idea exactly where your friend's money is invested.
If your friend knows about the market, market patterns, elliott wave theory, etc he can still make some tidy sums of money playing the market, but
that is on the assumption that he has physical control over his investment (day trader)
If your friend's money is left to the control of others, then your friend needs to very diligent in watching what happens to his money and where it
We are on a down slope and we have not reached true bottom yet. It's a global condition, not just isolated to the US.
Once we reach the bottom, how things are handled will determine how long we stay there.
Our market could have been going through a correction IF the Bailout had not happened and insolvent companies were left to go bankrupt (as they should
have) But all over the globe we have bailouts happening, TPTB are doing everything possible to get the most money THEY can get out of the markets
before they completely implode.
bottom line is this, if your friend has control over his investment and knows what he's doing, then stay with it, there is still money to be made in
shorts, Comex, Forex, etc. If not, he can watch his money disappear for a while longer then hope he gets it back in 10-12 yrs.
Otherwise, I'd say get out of the markets.