lol crashing again
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lol crashing again
Good...Quote:
Originally Posted by Venti Quattro
I get to buy stocks cheaper for my retirement account.
lol your retirement accountQuote:
Originally Posted by Wild Cobra
pretty much. Even if you luck out somehow a miracle happens and you don't lose 70% of your retirement stocks. They still will not gain much value in 10 years.
These days putting your retirement money on the stock market is almost as stupid as taking your retiment funds to Vegas and betting it all on 23 red.
btw I still have 40k of mine in the stock market. watching that shit sink like the titanic :(
lol
problem is even taking the money out and letting it sit in a bank is a bad idea cause of the dollar value. canadian money is looking good right about now.
when obama is kicked out of office next year it'll go back up
President Bachman will save the country!
Jul 21: 12,724
Aug 8: 10,810
The real problem is that people want to offset way more than inflation on the market. They want to become millionaires through their micromanaging. It's very much like the casino.Quote:
Originally Posted by cheguevara
C'mon son
I'm not worrying until that shit falls below 9
It's correcting itself to where it should have been months ago. There's been no muthafuckin' reason it should have been above 12k with unemployment/housing/and the trade deficit being what it is, not to mention rampant government spending and the ever expanding budget deficit.
Nigga,that's why I've been in precious metals since 2008 son.
GOLD and PLATINUM bitches
The dreaded double dip coming?Quote:
Originally Posted by Venti Quattro
Cycles are normal.Quote:
Originally Posted by Agloco
Why is everyone panicking?
Have we ever had a double dip? I mean like gonig back to circa 6500 or so.....Quote:
Originally Posted by Wild Cobra
Maybe before I was watching the markets. Doesn't mean we won't recover.Quote:
Originally Posted by Agloco
Sure, the markets could fail. Correct me if I'm wrong, but you are new here. I have at times stated in the past that we are doomed as a nation. I do hope I'm wrong, and part of that hope is still participating in stocks.
If we are doomed, I don't really know what a better investment option through my employer sponsored retirements accounts would be anyway.
I see it as we either win or lose, as a nation. What good is me hording cash going to be if we fail? I simply err on the side of optimism. Sure hate not to invested if it is the right thing to do.
As fucked up as things are becoming... and as I predicted years ago, I still have hope, that we will pull our collective heads out of our collective asses.
I thought you didn't buy into the scare tactics... :lolQuote:
Originally Posted by Wild Cobra
That sounds pretty much all doom and gloom.
If you don't remember the context I speak of, too bad.Quote:
Originally Posted by ElNono
:lmao
Selling out the country for your own greed. :tuQuote:
Originally Posted by Wild Cobra
Nowadays, if you really want to make money in the stock market, you shouldn't hold anything for long, cause this shit will keep happening to you, wiping out all your gains.
cash is king
It was surreal watching Obama's speech today with a real time graphic of the stock market plunging right next to his head.
like it went back up when the Pelosi was kicked out of as House Speaker?Quote:
Originally Posted by BlackSwordsMan
You must not have watched any of GWB's Press Conferences.Quote:
Originally Posted by DarrinS
Quote:
Originally Posted by cheguevara
I guess the millions of Americans with 401k plans are complete idiots.
Many companies are reporting record earnings. This is just typical Wall Street panic. It doesn't bother me though. I may actually starting buying tomorrow.
Well, they did read the fine print that said they could lose money too, right?Quote:
Originally Posted by DarrinS
So, they willingly bet and lost. I can't really feel sorry for them, tbh.
Quote:
Originally Posted by ElNono
There's nothing wrong with investing in stocks, as long as you're in it for the long haul.
Sorry, but I seem to have lost my rose-tinted specs. The shit has hit the fan, and the monkey ain't done flinging yet.Quote:
Originally Posted by Wild Cobra
Not sure what to do though.......
Maybe. I could agree with that in the past. I'm not sold the same rules apply anymore though.Quote:
Originally Posted by DarrinS
I mean, I'm sure the market will rebound from this race to the bottom. I'm just not sure the rebound will be enough to offset the money lost + inflation over time. Especially if the economy is contracting.
Too many bullshit with nanotransactions and all that crap going on now, basically unregulated and half the people don't outright now what the impact is.
This isn't your grandpa's market.
I will be honest, it would seem like these nanotransactions would do nothing but smooth out the ups and downs. I guess that is not true.Quote:
Originally Posted by ElNono
Follow the money. A lot of dough being invested in that right now. You only justify that if it's returning money. After the last flash crash, the impact is certainly measurable, and it isn't pretty, is it?Quote:
Originally Posted by Drachen
I lost about 5000 today. No big whoop. It's all the panicky fucktards that make it worse.
For the long term, a diversified fund is still going to payoff. If your playing the market yourself do what everyone else is doing, buy gold (stocks) and wait for the bottom.Quote:
Originally Posted by Agloco
Losing 5-10% and more in a single day tends to focus one's backers. Panicky fuckers indeed.Quote:
Originally Posted by DarrinS
Dunno, buy long term call options on blue chips?Quote:
Originally Posted by Agloco
Yep, as the idiots buy high and sell low, the wealthy buy low and sell high. Then the idiots complain about how unfair it it.Quote:
Originally Posted by DarrinS
The wealthy are in on HST, which accounts now for 60%+ of all trades, a sophisticated form of pump-and-dump.
Oh really? Thats why a certain someone I know losing upwards of 250k yesterday is no big deal. He's just a panicky fucktard?Quote:
Originally Posted by DarrinS
After losing somewhere near $100k the day before.
it's the american wayQuote:
Originally Posted by 4>0rings
tell that to the poor bastards that were due to retire in 2008,2009,2010Quote:
Originally Posted by DarrinS
To be fair, he did say "as long as you are in it for the long haul". I personally agree.Quote:
Originally Posted by cheguevara
the point is even in 'long haul' you have to take your money out sometime. And that sometime could be in a recession.
right, which is why it is advisable to begin transferring your retirement into less risky assets the closer you get to when you will need it.Quote:
Originally Posted by cheguevara
It would be pretty dumb to keep money in the stock market up to the day that you are retiring. Unfortunately, the market had been doing relatively well up until around 2006-2007 so a lot of people were made bad financial decisions by keeping their money in the stock market in hopes that the party would continue.
This. When it rains on wallstreet it pours because of idiots who overreact to every tiny piece of news that has nothing to do with the companies they're investing in.Quote:
Originally Posted by DarrinS
So you're saying that moving your retirement money from stocks to less risky assets in the past 5 years would be a bad financial decision? That's a fairly long time for people that are retiring and might need part or all their money.Quote:
Originally Posted by Drachen
Could you also define what 'relatively well' means in the context you put it?
Outpaced inflation 'well'? Made more than it lost 'well'? Made substantially more than it lost 'well'?
If you enter the storm, you are going to have to ride it out. If someone is sitting there in 2006 and plans on retiring in 2011, they should have very little exposure to the stock market. If they stayed in past 2007, then they should they have to stick it out, and make the best of things by buying low.Quote:
Originally Posted by ElNono
2002-2007 = 87% increase in S&P.Quote:
Could you also define what 'relatively well' means in the context you put it?
Outpaced inflation 'well'? Made more than it lost 'well'? Made substantially more than it lost 'well'?
down triple digits again. apparantely the market isn't too happy with what the fed said today.
The Federal Reserve pledged for the first time to keep its benchmark interest rate at a record low at least through mid-2013 in a bid to revive the flagging recovery after a worldwide stock rout.
The Federal Open Market Committee discussed a range of policy tools to bolster the economy and said it is “prepared to employ these tools as appropriate,” it said in a statement today in Washington. Three members of the FOMC dissented, preferring to maintain the pledge to keep rates low for an “extended period.”
The decision represents the biggest effort since November to spark the U.S. economy and revive confidence while stopping short of initiating a third round of large-scale asset purchases. Chairman Ben S. Bernanke and his colleagues acted after reports showed the economy was slowing and an unprecedented downgrade to the U.S. credit rating sent stocks tumbling from Sydney to New York.
The Fed offered a dimmer view of the economy than it did in the last statement in late June. “Economic growth so far this year has been considerably slower than the committee had expected,” it said. The Fed also said it expects a “somewhat slower pace of recovery over coming quarters,” adding that “downside risks to the economic outlook have increased.”
Is it riding out a storm or outright gambling?Quote:
Originally Posted by Drachen
Sometimes you can't postpone your retirement indefinitely.
2001-2011 = 2% decrease in S&P (was +4% until the last hit)Quote:
Originally Posted by Drachen
Ok. I didn't know where to post this and didnt want to start a thread. Plus, I haven't seen this addressed any where on here. If I'm mistaken, then please forgive me. With all this mess; market, credit ratings, etc, why is gas going down? It was at least a quarter more on Friday than it is today.
Speculation that a coming recession will reduce future demand for oil.Quote:
Originally Posted by Viva Las Espuelas
Oil futures/contracts going down. There's speculation of a double-dip recession and the economy contracting further.Quote:
Originally Posted by Viva Las Espuelas
Scratch that. Apparantely the market loves it.Quote:
Originally Posted by coyotes_geek
So we could be further crippled if say an oil field was attacked or just blew up for no reason. That's great.
If you see something, say something...Quote:
Originally Posted by Viva Las Espuelas
dp
The stock market isn't for the short term investor unless they know how to be a day trader. If your friend could not afford to lose it, then he shouldn't have had it there.Quote:
Originally Posted by DarkReign
I'm not even keeping track of my current losses. I'm just smiling that every payday, I'll have hundreds of dollars of purchases buying even more shares as they drop farther in price. I'll be one happy camper when the prices recover.
I think it's more than that. With the loss of the uptick rule, I think short sellers are driving it down farther than would be natural.Quote:
Originally Posted by coyotes_geek
If I got their memo, I would have traded some of my stocks for securities. Now that the drop started, I'll just leave them alone. Not good to follow the leader with stocks.
Dude, the market rallied to close.
Quote:
Originally Posted by Wild Cobra
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Originally Posted by DMX7
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Originally Posted by DarrinS
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Originally Posted by Wild Cobra
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Originally Posted by DoK
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Originally Posted by Wild Cobra
:tu Wild CobraQuote:
Originally Posted by Wild Cobra
:tu DMX7
:tu DarrinS
:tu DoK
And it's true, companies are racking in record earnings. For example, JP Morgan Chase & Co shouldn't be even be racking 5 bn per quarter but they have in two successive quarters now -- 5.5 bn in both quarters to be exact. The year is just halfway but they have already amassed 11 bn. A good portion of it is because of their huge savings with bad loans & bad credit appropriations, but still, most of their businesses have been doing really well. The street estimates the trajectory of NYSE:JPM at 20-22 bn for the fiscal year. I would be so surprised if they don't break the 20 bn barrier. Wells Fargo also recorded the highest earnings in history, and so is Apple racking record sales & profits.
It's just kind of annoying that stock prices are crashing due to slightly irrelevant pieces of information. Of course it will have SOME effects, but losing 10% of your market cap just because of that piece of news that is totally irrelevant to the way you do business is ridiculous. As shitty as Wall Street the movie was, at least they got it right when it said in the movie that "it's all about speculation".
lol those who panicked and sold, only to see it reb...fck that shit
Wheeeeeee!!!!
:lmao nice rebound
400+ points down in 1st hour
:lmao
French banks is like rubber necking at an accident right now.
Shares in French bank Societe Generale (SOGN.PA) fell more than 21 percent, hitting a 2-1/2-year low and sharply underperforming the European banking sector.
SocGen was not immediately available for comment.
Other French banks also fell sharply, with BNP Paribas (BNPP.PA) down more than 13 percent and Credit Agricole (CAGR.PA) off more than 14 percent.
If you were set to retire in a couple of years and you had a large amount of your money in the stock market then you made a huge huge huge mistake.Quote:
Originally Posted by cheguevara
When the economy contracts people drive less and use less energy in general as they try to save money. Companies don't have to ship as much and energy use across the board goes down. Because demand is driven down the cost comes down as well. The futures are reacting to the impression that the economy is likely to slow down and the price will therefor drop.Quote:
Originally Posted by Viva Las Espuelas
As we at risk for the economy being hurt if there is some kind of large disaster that hurts our energy supply? Of course. But that isn't something unique to the current economic climate. Whether the economy is doing well or not we are always at risk to rising energy costs on a disaster that chokes off supply.
Down another 500 today.
Panicky fucktards, spoiling it for the rest of us.
:rolleyes
Pretty much, but I'm on the silver-lining "buying opportunity" bandwagon.
I'm on the "I'll retire 10 fucking years after I'm dead" bandwagon.
it's funny, ppl here act like they know the stock market. Why the hell are you here posting then and not having lunch with Warren Buffet? :lmao
Yesterday was two different markets based on 2 different things. #1 was the Fed confirming they think the economy is gonna suck for at least two more years and making the unprecedented statement they were going to continue to hold down rates for 2 years. Fed says nothing about QE3. Market goes to shit. #2 Goldman Sachs then sends a newsletter to it's clients while the market is dropping that says they think the Fed is gonna do QE3. People assume GS has inside info and market immediately skyrockets. After market closed people figured out GS was just blowing smoke out its ass and doesn't have inside info. Market opens today and continues to go to shit.Quote:
Originally Posted by coyotes_geek
don't forget someone flushed the toilet where Europe was floating
People on the internet talking about things they're not experts on? Say it isn't so! :madrunQuote:
Originally Posted by hater
The house of cards is falling.
Meh, there will be a bottom. The world is not about to end.
The world won't end for you.
but a comfortable, sustainable, pleasant life and retirement is now falling out of reach of millions of Americans, mostly through no fault of their own.
The greedy, predatory UCA has figured out they don't need Human-American employees, they don't need Human-American consumers. All the cheap employees AND consumer growth are in Asia.
That's the ugly, repulsive face of unregulated capitalism. It doesn't GAF about Human-Americans or America, or any country, only GAF about money.
What's all the panic? The markets are down what, about 10%?
I would generally agree. It is hard to leverage information asymetry the way Buffett did when he was building his company. It doesn't work well after you get to the size that Berkshire has gotten to, either.Quote:
Originally Posted by Tyson_Chandler
Unless of course your last name is Rajaratnam, then you can just trade off your contacts, until you get caught.
What panic?Quote:
Originally Posted by Wild Cobra
lol france latest domino affect, hope they tank...
down 400+ again. tomorrow not looking good.
And I bought a 1000 shares of BoA Monday :depressed
I was gonna bump this earlier, but was lazy... SB: you should've stayed with the gold, tbh
Oh I'm still with gold. Just decided to take a gamble on BoA. It'll pay off eventually...uh I think.Quote:
Originally Posted by ElNono
I keep having the temptation to take a gamble on BofA, but haven't given in yet.
Well The Donald is doing it too and he's never wrong.Quote:
Originally Posted by coyotes_geek
Hard to argue against a rich guy who isn't afraid to cough up his birth certificate.
or a rich guy with a wig
and a smokin' hot daughter.
Yep, and my next 401k purchase will buy even more shares than the last time.Quote:
Originally Posted by hater
There will be a lot of angry people when the gold bubble bursts.Quote:
Originally Posted by ElNono
Besides, if you get too much gold, might not be able to jump ship fast enough when it's time. I hear people saying it is still going to substantially rise, but... what if they are wrong?Quote:
Originally Posted by SnakeBoy
Good not to put all your eggs in one basket.
It isn't a bubble. It will come down when demand comes down, at which point things should be better in the market/economy and you should be able to move there.Quote:
Originally Posted by Wild Cobra
In the 70's, gold rose to above $800/oz. from below $50, just to fall to almost half it's peak in a very short time. It regained a value just over $700 in 1980 just to fall again to about $300. It averaged about $400 until 1996 and slowly dropped again to under $300. In 2000, it started a nominal rise through 2004, then started taking off like it did in the 70's.
It will crash at some point. Just no telling when.