The Dow just dropped under 9,000
mammasan
Posts: 5,656
I feel like I'm watching a limbo contest.
"When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
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...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
at least that's what I was told....
I guess the market will fix itself without the 700 billion....
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
I forgot....:o
and the McCain campaign said as late as last Friday that they wanted to turn the page on the subject of the economy ... :rolleyes:
"I don't believe in damn curses. Wake up the damn Bambino and have me face him. Maybe I'll drill him in the ass." --- Pedro Martinez
In one week the Dow has lost over 2,000 points.
That's pretty scary.
I'm glad the bailout plan quelled fears on Wall St though, who knows what would have happened if that didn't pass.
What a bunch of crap. I'm glad I'm only 30 and I can rebuild my 401k after it's been slashed and burned in recent weeks.
My 401k and my stocks have been killed in the past few months.
Don't be such a fearmonger.
And you never comment on all the good news.
Like for instance ... uh ... gold and silver are up!
:rolleyes: :cool: :rolleyes:
If I opened it now would you not understand?
We've lost 25000 on our 401k, but I'm 20 years from collecting in full.
Why shouldn't I double down on it soon? Like Monday maybe.
I wish I could double down on mine right now, but I'm already maxed out.
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
Some good that will do me when my company lays me off.
-Reagan
Let me tell you the same thing i told my dad (who is thinking the same as you) last night:
Don't get all excited thinking, "now is the time to buy at DOW 8600, and make a sweet killing when it rebounds to 14,000 in 3 years."
There is NO reason to expect that this market couldn't trade between DOW 6,500 and 10,500 for the next DECADE or MORE.
That would make your double down at this level speculative at BEST, and at worst a 10 year LOSING trade.
Look, this thing COULD (and god willing, "should") pop back sometime ... but NOW is NOT the time to throw all your available funds at it.
If ANYTHING, you should be making sure you have PLENTY OF CASH on the sideline, and moreover, i would actually make sure you have a few thousand in PHYSICAL CASH!
Remember, only THREE percent of ALL the money in the system is REAL CASH ... if there is a REAL credit crisis, GOOD LUCK DRAWING MONEY FROM YOUR BANK.
People, you need to be thinking EXTREMELY defensive here, not getting greedy dollar signs in your eyes about all the theoretical potential for profit.
Wait a month of two, see what happens.
If it all blows over, you can buy at DOW 10,500 or 11,000 and still be perfectly happy. But you could throw your money at it right now, and watch half of the DJIA go bankrupt and be in the poor house.
The credit markets are THAT fucked up right now.
GM may be bankrupt by weeks end.
Slow your roll!
If I opened it now would you not understand?
I am the opposite, I was suspicious of the quick rise. If you look at the graph of the Dow from inception, you would extrapolate it to infinity in about 10 years.
The price of all these stocks were inflated like Beanie babies. It started when retirements migrated to the stock market, and when Mutual funds make it easy for Joe-Six-Pack (sry, couldn't resist) to invest in the market. Everyone was competing to buy stocks so the price rose.
Now that confidence is gone.. My bet is that it will not recover as it has in the past - but it will rise agian very slowly and at a rate closer to that of the growth of the companies. It will be a long before confidence is restored.
I would not be suprized to see the market drop to 5000 and remain there for a while.
The good news is that the economy is not measured by the price of stocks. However, there will be many companies falling that has large stock portfolios, and many will be out of work..
it was past time that we stepped back a bit in our standard of living, and stepped up our effort and learning.
This is all good news.
It's not a crisis---it's a 40% off sale. China can now buy up more of America at a steep discount.
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
Fire sale. Everything must go.
WOooh!
DOW goes positive!
DOW goes positive!
We're saved!
We're saved!
If I opened it now would you not understand?
yet, there are still lugnuts that want to throw smears around. Unreal.
"I don't believe in damn curses. Wake up the damn Bambino and have me face him. Maybe I'll drill him in the ass." --- Pedro Martinez
hear you and good points, but there are bunch of people that are just looking for a sign..any sign to jump back in. When they do it'll cruise right back up to 10,000 in a heartbeat. Thats why we see these large swings....speculation. Most companies are financially sound and thus their share prices are devalued at the moment. Stick to a few good companies. We'll see soon enough.
For sure after Nov 5th the value will climb if it hadn't by then.
Stop by:
http://www.facebook.com/group.php?gid=14678777351&ref=mf
I'm sure there will be profit takers later in the day ... but, overall, this is good.
"I don't believe in damn curses. Wake up the damn Bambino and have me face him. Maybe I'll drill him in the ass." --- Pedro Martinez
Relief?
Absolutely.
Celebrating "all clear"?
Hardly.
I think the great satisfaction to be had here is the simple acknowledgement that the markets have not collapsed. I hesitate to even say that the markets "worked", but it would not be wholy inappropriate.
What friday demonstrated, and what today reinforced, is the recognition that the markets are still capable of SOME modicum of rational response.
The bottoming process that started friday indicates that the price on friday finally reflected the value believed to be in the market.
That is NOT to say that we can't or won't go lower.
It just means friday's price matched friday's value.
ANYTHING could change that valuation going forward, but it is comforting to know that we are not in an absolute buyers strike, and it will go a LONG way towards restoring confidence for the major players.
Take Away:
Be glad, be relieved, but don't be fooled in to thinking that "this is it", "coast is clear".
If I opened it now would you not understand?