Stockpickr.com brings social networking to the investing world. It is now currently owned by the Financial site TheStreet.com . Stockpickr has many features, but one of its interesting features is the Answers Section where any member can post questions, and anyone can answer, including Jim Cramer or James Altucher, the main founder of the site.
We can also use it to gauge what the average investor is thinking.
Recently, we had a 3.5% drop in the S&P 500. I've selectively chosen a few Answer Threads from Stockpickr to illustrate what the average person is thinking during this drop:
Ordered in Reverse time order:
1. "All right, now that we've had the weekend to step away from the markets and allow for last
week's action to digest ... anyone have any
thoughts on what's in store for tomorrow
morning?" Asked by Thomas Nunn
2. "Thursday am I sold off 95% of my stocks and
locked in my gains. I did nothing Friday 6/8,
only to see the DOW jump 130 pts. Do you think
we've hit bottom yet, or will there be another
substantial pullback?" Asked by John Kuhnemund
What did I do wrong in not knowing ahead of
time that a correction in the market was ready
to hit? I know there were warnings on TV (CNBC
of course) and in the papers. I also know the
momentum in the market could not go on forever.
I know investors need to "Expect corrections..."
What technical indicators do you look at and
keep a close eye on to show the market is ready
to head south? Thanks." Asked by cnyguy
4. "Do you guys think we are out of the woods yet
with this correction?" Asked by gtz550
5. " Hey Jim and James,
More so then ever I am scared of staying in the
game. I lost a big % in the past few days. How
much longer do you predict that this ugliness
will continue? Is this the summer selloff?
You've always been my cheerleader Jim. I could
sure use a morale boost. Frank from Philly" --
Asked by Francesco the kid
There's more of this. Maybe in another post.