Given the stock market selloff Tuesday, do you buy, sell or hold today? - CNBC.com Question of the Day

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Aug.22

4:34 PM ET

Wednesday, 22 Aug 2007

Given the stock market selloff Tuesday, do you buy, sell or hold today?

Topics:Market Wrap | Stock Market | Market Outlook

Companies:Dow Jones And Company Inc

Given the stock market selloff Tuesday, do you buy, sell or hold today?

Here's a sampling of the overwhelming response we had to this question:

Peter Morgan / AP
Traders and specialists work on the floor of the New York Stock Exchange in New York (AP Photo/Peter Morgan)
"Hold.
The markets have been shrugging off the warnings for the last year. Housing markets priced themselves out of the market with the help of the mortgage lenders and their creative lending solutions. They made it too easy to get into a home that you can not afford to keep because of ARM increases, balloons and other questionable practices.
The auto industry is not responsive enough to the needs of the public in giving thrifty and safe vehicles, at a reasonable price. The Japanese have been doing it for years.
The oil crunch is trying to tell us LOOK TO THE FUTURE. We need desperately to research alt. energy sources, hydrogen and nuclear. Hydrogen production is dependent on electricity and water. That's where nuclear comes in. We are blessed with thousands of miles of coastline, by putting nuclear plants offshore and using the electricity to make hydrogen you end up with two clean sources of energy that can move transportation and heat homes. The delivery systems for electricity already exist so the only major infrastructure changes would be in hydrogen delivery and storage. All these changes are doable, and being done on a small scale now.
The drop yesterday was caused by a lack of commitment by business to look at the above problems in a timely manor. Shrugging them off until it was too late to fix them.
Will this be the case of the energy crunch? Or will business make the commitment now to insure our energy future?"
Dave S. AZ

"I plan on holding what I have (all quality stocks) and sell covered calls on some of my stocks (at a strike price 20% higher than my purchase price) six months to one year out. This will reduce the base cost of my stocks, or maximize my return, depending how you look at it .Also, I am considering buying calls on stocks that I do not own, three to six months out. The overall strategy is to protect myself and take advantage of what happen to some companies yesterday."
Merv H. Palm Beach Gardens, Fl

"Have just sold 15% of my $600,000 Stock portfolio..Especially international and high yield bonds."
Larry S.

"Sell. Based on other individual investors’ recommendation to purchase, you should sell. Take Bolling’s advice and buy the second dip."
Terrence B., Ft. Worth, TX

"BUY, BUY, BUY!!! When else can you get the Best USA companies at a discount? I have had some issues on my watch list waiting for a day like yesterday. Bought them and now I sit back and watch the profits roll in."
Sal N., Lake Ronkonkoma, NY

"What happened to the world markets was triggered by Greenspan rising from the dead. He made what he thought was a benign comment. 'We are getting ready for a recession.' I never heard him say that when he was in office. It was only after the fact that the R word was announced. You had to read between the lines. He must miss his office and the power that goes with it. I am fully invested, in high growth stocks with fabulous earnings. I do not like volitily and have little patience. This will be a excercise in patience in what is the best economy we have ever had. Yesterday, I lost all of 2007 gains. It hurts but I am bleeding. Where were the collars on the exchanges? Why wasn't the trading suspended for a period before that 200 point drop befell us yesterday? Everyone went into shock including me. Two vodkas later and a one hour nap, I awoke, caffeine up and continue life. I congratulate all the CNBC announcers who calmly kept going while everyone's pants were dropping. The country owes CNBC many words of thanks for keeping the public from a total panic reaction. Thank you for helping stay cool as I reevaluated my thoughts my long term goals."
Patricia F., Atlanta, GA

"Buy with reckless abandon when all the pundits say do nothing or sell."
Roger S.

"The world wide market sell offs were supposedly due to the Chinese market down turn. That is very insignificant because of fluctuating currency. Until the Chinese government decides to stabilize there currency rate there should not be any consideration given to there economy. Furthermore, their economy will continue to be in jeopardy as long as they ignore importing from other countries..."
Tim I., Meadville, PA

"I would buy; when the market goes down I consider it to be on sale. I am under 50 years old and I am in for the long haul."
Trevor H., Washington DC

"Made my shopping list last night and placed my limit buy orders, but was only able to pick up ITF at a discount. I was really hoping that the correction will have more leg, but investors and speculators rushed back in too quickly. For now I am keeping those limit buys and if we have another significant drop I will add more to my portfolio."
Tony T.

"I think I'll hold off on buying or selling until I have a better sense of where the markets are heading. I will also wait for the hubbub about Alan Greenspan's comments to die down. They helped precipitate yesterday's selloff, rightly or wrongly. When a man of his stature makes comments like he did and doesn't mention the probabilities of a recession actually occurring, is when all the media and all the prognosticators should just shut up. What makes Greenspan's opinions any more worth listening to than anyone else's now that he is no longer the Fed Chairman?"
Roy D., Connecticut

"I have bought selective stocks in my portfolio that took a hit yesterday to average down my basis. Other than adding to existing positions I am holding still for a few days to see where the market goes this week."
Larry C., Houston, TX

"Given that we had poor economic data, errors on the dow and China's cool down there is money to be made. Sideline your emotions not your money. So roll up your sleeves find an entrance this is still a buyer's market."
Erwin S., Chicago, IL.

"In my humble opinion. I believe all markets, including commodities (maybe one exception, gold) are currently fairly valued. I would continue a dollar cost average approach going forward. Individual stock picking is where it's at. Earnings, earnings, and by the way, did I mention earnings? Buying an index is risky and old school. Do your homework. I believe gold is popular for the same reason as following the Anna Nichole Smith story. They both are getting all the attention due to the fact they are getting all the attention."
Bob S., Deming, WA

"Hold. Respectfully, CNBC is missing the story: It's NYSE's failure to maintain an orderly market during a routine 3% correction yesterday. Grasso would have been on the floor monitoring trading, providing confidence, and preparing for contingencies. Thain had to be summoned from his office, and didn't deign to talk to CNBC. "A computer glitch" is PR speak. It's unacceptable. Why should any investor believe NYSE could maintain order flow in an emergency? Thain's resignation should have been on the board's desk this morning. He's an empty suit."
Jack K., Brentwood, TN

"Today is a good day to sell into a rebound. Hedge Fund liquidations and other factors will weigh on the market for awhile. There should be more on the downside in this correction in anticipation of softening economies."
David C.

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