So, gotta ask the obvious.......

[Brian Van Horn]

With a market correction in full bloom, anybody putting the brakes on their collecting?

[Leon]

Flesh wound. The rebound will happen as it always does. Short term could hurt prices a little as discretionery income is less but long term, no issues from this. That's my half cent.

Originally Posted by Brian Van Horn

With a market correction in full bloom, anybody putting the brakes on their collecting?

[grainsley]

Might hold off a bit if I was dealing in high-end items........but I'm a nickel and dimer, so status quo for me..........as Leon mentioned, it's just a bump in the road in the economy.......the big players are circling right now and getting ready to buy.....

[ErikV]

Yes and no. I'm in the middle of making a large card purchase. My strategy is
not to buy any more cards until I pay this purchase off. I suppose in my case
the stock market doesn't really have a bearing on my collecting/purchasing habits.

ErikV

[Sean1125]

"The market is good so cards must be good"
"The market is bad so cards must be bad"

These are both awful assumptions to make.

[ullmandds]

Kudos to Leon on the timing of your sale...it is a great time to be flush with cash to invest in the market!!!!

[Leon]

but I was never very good in math...

ps, the blind squirrel theory is also a good one.....

Originally Posted by ullmandds

Kudos to Leon on the timing of your sale...it is a great time to be flush with cash to invest in the market!!!!

[packs]

If I were tied up in stocks you'd catch me in the center of town. But I am a free man so I do as I please.

[e107collector]

It's funny, if you had cash on the sidelines at 9:30am, and had your eye on a few stocks, you could've made a decent buck by lunchtime.

Example, Apple is worth $115 last week, $92 at 9:30 am, $108 now.

Don't panic sell. Buy on FEAR!!!!

Just my two cents.

Tony

[Leon]

Most people just hang on and things go back to normal.....now only down around 1 Percent for the day .....back to buying cards!!

Originally Posted by e107collector

It's funny, if you had cash on the sidelines at 9:30am, and had your eye on a few stocks, you could've made a decent buck by lunchtime.

Example, Apple is worth $115 last week, $92 at 9:30 am, $108 now.

Don't panic sell. Buy on FEAR!!!!

Just my two cents.

Tony

[brob28]

Originally Posted by e107collector

It's funny, if you had cash on the sidelines at 9:30am, and had your eye on a few stocks, you could've made a decent buck by lunchtime.

Example, Apple is worth $115 last week, $92 at 9:30 am, $108 now.

Don't panic sell. Buy on FEAR!!!!

Just my two cents.

Tony

Yes! Tony's got it. Business as usual for collecting.

[sam majors]

I'm still heavy into Pogs for the long term. Day trading Beanie Babies! Sam Majors

[mybuddyinc]

Originally Posted by e107collector

It's funny, if you had cash on the sidelines at 9:30am, and had your eye on a few stocks, you could've made a decent buck by lunchtime.

Example, Apple is worth $115 last week, $92 at 9:30 am, $108 now.

Don't panic sell. Buy on FEAR!!!!

Just my two cents.

Tony

Exactly .............. Do Not Panic


OH, I only wish I bought Apple when it first came out. Like my sister, she just liked the logo

I'm down about 15%, so just my 1.7 cents worth of advice.

Scott

[HRBAKER]

[Econteachert205]

Stopped out of my oil position this morning. Pretty much sucked.

[EvilKing00]

I bought a stock today, lol when everyone is selling... Thats when its time to buy.

[bcornell]

Originally Posted by Brian Van Horn

With a market correction in full bloom, anybody putting the brakes on their collecting?

I truly hope that no one is making decisions about their collecting based on the results of 2 ugly days on the market. Please.

Bill

[Eric72]

Originally Posted by EvilKing00

I bought a stock today, lol when everyone is selling... Thats when its time to buy.

+1...best time to buy is at the tail end of a correction. And this is definitely a correction.

[Peter_Spaeth]

Originally Posted by Eric72

+1...best time to buy is at the tail end of a correction. And this is definitely a correction.

And you know when it's the tail end how?

[iwantitiwinit]

Mkt rebound shortly after the open shows there are buyers on the sidelines waiting to put cash to work. They thought prices were low enough despite the expected and eventual late day swoon that was almost a certainty as mutual fund mangers had to place sell orders in the last hour to meet cash needs. This was a result of redemptions placed over the weekend that weren't offset by other intraday buys that might have come in up until 3pm. In the very short term I would expect Tuesdays close to be higher than Mondays regardless of what the early hours hold on Tuesday. As for the rest of the week be careful there will be ramifications from this global 10-20%+ selloff that we haven't seen yet, ie, leveraged etfs not pricing properly and market makers failing to continue to make markets (in other words liquidity vacuums), additional oil/commodity bankruptcies announced, high yield bonds having problems and newly emerging currency devaluations.

I'd be careful to buy too much if market holds, wait a week or two to see how things shake out. If you miss a big bounce so be it, if you avoid a further 10% sell off I think you'll feel better saving the 10% rather than missing 10% bounce.

Just my opinion.

As far as cards prices go I think we see a small pullback but nothing dire.

[Peter_Spaeth]

The few things I have observed about the stock market are that everybody is a genius after the fact, that trying to time it is frequently a recipe for disaster, and that over time a very low percentage of people beat the broader indices.

[Eric72]

Originally Posted by Peter_Spaeth

And you know when it's the tail end how?

I won't; however, will generally benefit over the long term through my (supposedly out-of-favor) buy and hold strategy whereas it concerns purchasing equitable securities.

There is definitely a throw the baby out with the bath water panic taking place right now. Macroeconomics aside, buying opportunities have presented themselves. I, for one, as a bargain hunter, am excited.

Best regards,

Eric

[Eric72]

Originally Posted by Peter_Spaeth

The few things I have observed about the stock market are that everybody is a genius after the fact, that trying to time it is frequently a recipe for disaster, and that over time a very low percentage of people beat the broader indices.

Peter,

You are overwhelmingly correct with your assessment. Please note that my previous posts within this thread should NOT be misconstrued as investment advice. While my investments comprise a portion of my income, I am not a financial advisor.

Sorry for the disclaimer. Just making sure it is expressly understood that I am not telling anyone to do anything. After all, this is just a message board regarding baseball cards.

Best regards,

Eric

[Brian Van Horn]

Originally Posted by bcornell

I truly hope that no one is making decisions about their collecting based on the results of 2 ugly days on the market. Please.

Bill

Bill,

Make that three with a fourth probable for Tuesday. Just checked the Asian markets. Ugly.

[JustinD]

Ebay has been awesome for 2 days, honestly I am holding hope the panic stays on for another 24 hours so I can pick up another off my want list tomorrow night at another bargain.

The market is always cyclical, it will rebound.

I remember Black Monday 87'. Everyone in a sheer panic and my best friend's father pulls a 75k HELOC on his home and puts it all in blue chips.

In the early nineties his portfolio hit 6 mil. Make that on safe hedges in a handful of years.

The smart ones make a mint on the lemmings.

Hold what you got and buy what you couldn't afford before.

[begsu1013]

Originally Posted by JustinD

The smart ones make a mint on the lemmings.

100%. ^ fins up!

of course, we aren't all "intelligent" collectors per the Almighty.

[Peter_Spaeth]

Originally Posted by Brian Van Horn

Bill,

Make that three with a fourth probable for Tuesday. Just checked the Asian markets. Ugly.

As of 7:00 a.m. ET, Dow Jones Industrial Average futures were 525 points higher, or 3.32%. S&P 500 futures gained 61 points, or 3.30% to 1923, while Nasdaq 100 futures jumped 162 points, or 4.05% to 4165.

[bbcard1]

After literally waiting for two years for a correction, I sunk a pretty substantial amount into the market the week before the free fall. It happens and it's long term money and while it will sting a little for the next few months, it's not going to change my life. I may subconsciously not pull the trigger on a four figure opportunity buy but the stuff I;m working on is the stuff I;m working on.

[Brian Van Horn]

Originally Posted by Peter_Spaeth

As of 7:00 a.m. ET, Dow Jones Industrial Average futures were 525 points higher, or 3.32%. S&P 500 futures gained 61 points, or 3.30% to 1923, while Nasdaq 100 futures jumped 162 points, or 4.05% to 4165.

I am not afraid to apologize and admit I'm full of it. Having fun watching the market or as I call it, encapsulated insanity.

[The Nasty Nati]

Best time to buy is when baseball is in the off-season.

[chernieto]

Originally Posted by Peter_Spaeth

As of 7:00 a.m. ET, Dow Jones Industrial Average futures were 525 points higher, or 3.32%. S&P 500 futures gained 61 points, or 3.30% to 1923, while Nasdaq 100 futures jumped 162 points, or 4.05% to 4165.

Easy come easy go

[iwantitiwinit]

Originally Posted by iwantitiwinit

Mkt rebound shortly after the open shows there are buyers on the sidelines waiting to put cash to work. They thought prices were low enough despite the expected and eventual late day swoon that was almost a certainty as mutual fund mangers had to place sell orders in the last hour to meet cash needs. This was a result of redemptions placed over the weekend that weren't offset by other intraday buys that might have come in up until 3pm. In the very short term I would expect Tuesdays close to be higher than Mondays regardless of what the early hours hold on Tuesday. As for the rest of the week be careful there will be ramifications from this global 10-20%+ selloff that we haven't seen yet, ie, leveraged etfs not pricing properly and market makers failing to continue to make markets (in other words liquidity vacuums), additional oil/commodity bankruptcies announced, high yield bonds having problems and newly emerging currency devaluations.

I'd be careful to buy too much if market holds, wait a week or two to see how things shake out. If you miss a big bounce so be it, if you avoid a further 10% sell off I think you'll feel better saving the 10% rather than missing 10% bounce.

Just my opinion.

As far as cards prices go I think we see a small pullback but nothing dire.

Wrong.