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Looks like a jinxed the DOW, down 100 with less than 20 minutes to go.
The DOW just shot up close to 700-800 points in the past hour and nearly 200 points in the past 5 minutes.
Unbelievable.
Looks like a jinxed the DOW, down 100 with less than 20 minutes to go.
Bring it the on.
My business could use a break on diesel prices.
The online business press updates their "what is happening in the market" stories throughout the day.
Since stocks were in the toilet at the start of the day all the pictures were of traders with their heads in the hands or looking really grim.
Now you get the same "OMFG we're gonna die" pictures with headlines that go like this:
US stocks surge late in day after 8 days of losses
Not if a 20% break in diesel prices is accompanied by a 40% revenue drop.
Am I the only one of the opinion, if everyone STFUed about how horrible things are, and how bad they could be, that things could level off a tad.
I mean seriously, how many times can you say "this is bad this is bad" when things arent NEARLY as bad, before things become bad?
Not if a 20% break in diesel prices is accompanied by a 40% revenue drop.
I only saw a 9% drop in September so again if that holds true, I think I'll take the trade off
I heard some analysts say they thought the bottom of this thing is in the 7-8% range, but that when markets correct in this manner they almost always overshoot the bottom at first.
Sometimes it's smarter to just admit things are bad and plan for it.
I was a Division President for a major publicly traded homebuilder back in the 80's before the savings and loan nightmare. Unfortunately I could see it coming. I was in a board meeting where we were discussing our projections for the next year. As they went around the table everyone was projecting 20% growth for the next year. I said I expected my division to be down 50% and told them that the rest of them were gonna be down 50% or more too...I proposed that we cease all spec construction and only break ground if we had an earnest money contract. They all looked at me like I had lost my mind. The CEO told me if I didn't think I could do 33 million the next year he would find someone that could. I told him I would have no problem building the houses but we wouldn't be able to sell them. The CEO told me that it was people like me that caused recessions and repeated that if I didn't think I could do it he would find someone that would. I said OK, walked out of the board meeting and went downstairs and cleaned out my office. Eleven months later the CEO put a gun to his head and killed himself.
Last edited by CosmicCowboy; 10-10-2008 at 03:20 PM.
No theres no denying that its not good.
I'm not saying that, but I don't hear anyone repeating what Manny and others are saying about how there won't be a depression due to the fact we can produce food so much easier now, technological advances. I mean were a much more prepared and better country than we were in the 20s obviously, but were smarter I think in that we would adapt quicker and things wouldn't hit that bad.
*laughing at myself*
you KNOW the markets are ed when you are relieved that the market "only" dropped another one and a half percent today.
The imminent collapse of the U.S. Economy to occur sometime in late 2008
The imminent collapse of the U.S. Government finances sometime in mid 2009
The possibility of Civil War inside the United States as a result of the collapse
The advance round-ups of "insurgent U.S. Citizens" likely to move against the government
The detention of those rounded up at The REX 84 Camps constructed throughout the United States
The possibility of public retaliation against members of Congress for the collapses
The location of safe facilities for members of Congress and their families to reside during massive civil unrest
The necessary and unavoidable merger of The U.S. with Canada and Mexico establishing The North American Union
The issuance of a new currency called the AMERO for all three nations as an economic solution.
^^You know there are those "Preparedness" people with the stocked up food/guns/etc that are getting ready to lay down the "I told you so" on the tin-foil hat calling masses LOL
Yeah have you noticed how absolutely predictable and overly reactionary that markets have become over the past couple years? I can't tell you how many times I've made some pretty decent money buying up stock of solid companies who released their quarterlies and made a profit, but didn't meet expectations. The way the value drops as a result is just stupid. Then lo and behold, a couple weeks later its right back up were it was before all the knee-jerk idiots freaked out and sold.
Of course this is much more serious, but I'm so tired of there only being two modes of existance for most of wall street: absolute panic and inhuman greed.
Actually, I read the thread backwards, and when I found you posting pretty much exactly what I had already said, I decided to point it out. And my 'done' comment was that I was done with arguing with you, but when I read your post I couldn't resist.
As for the way I relate to women, I'm entirely happy with that. I am utterly and unreservedly honest, and while that may cost me a meaningless shag or two, I'm not going to change it. Women who can't handle honesty, or don't want to hear it, are obviously not for me. I happen to currently be seeing someone who has found it a revelation to meet someone like me - she didn't know they existed. So yeah, your putdowns really hurt...
I wonder how low the market will eventually bottom? 7k?
Check this chart out:
http://finance.google.com/finance?cid=983582
It's a great chart - note that you can drag out the timeframe to examine the current crisis compared to the last 5, 10, 15, or even 20 years... when you do the latter, '87 looks like a blip, even though it cost 1/3 of the market at the time. And what is it with October? '87 happened in October, the tech buble bottomed in October '02, the market hit it's 14,093 height in October last year before crashing 1000 points, and then there's the worst week ever in October this year. October is not a happy month for money! I know that's always been an axiom, but WHY? Cowboy, can you tell me?
Between mid-2006 and mid-2007, the DOW went from 11k to 14k, about a 28% increase, and on the basis of what exactly? There was seemingly no driver for it. How did all the analysts miss this meltdown (especially seeing as guys like Scott were warning us about it 3 years ago)?
Last edited by RuffnReadyOzStyle; 10-11-2008 at 08:23 AM.
Tubby, I've only lost about $300 since all this crap started at the end of last week, I moved all my funds (over 50K) into a safe fund that doesnt lose anything. So I'm just waiting till maybe next week to jump back in at these bargain prices.
*sigh*
It's so simple.
1. Saturn within orb of opposing Uranus. 2. Lunar node in Aquarius (nadir of the down cycle - Louise McWhirter's theory). 3. Sun opposing Jupiter and Neptune. 4. Mars squaring Uranus.
Doing away with all the high powered investment theory and putting it in layman terms, October sucks.
Last edited by CosmicCowboy; 10-11-2008 at 06:25 PM.
You're a smart man then. Well played.
Investing is really easy if you know all the rules.
is anybody really eyeballing an specific stocks to throw money at and hope to cash out when they rebound....?
It's still a few weeks early to pick...this thing still needs to find a bottom.
Off the top of my head, individual stocks that would interest me in 3 different sectors would be Wells Fargo Bank, GM, and Home Depot. I can make a case that all three have a very good upside.
i was thinkg GM or ford and then Wachovia Corp...but wells might be better...its killing me not knowing when this is going to bottom out I would much rather be early though then late
I personally think the bottom is going to be wide and deep. This isn't a classic correction.
who do you do your trades with?
do you purchase your stocks through your 401k or just buy and trade on your own...I am thinking about signing up with fidelity but still researching
I am currently not in the market. Been there in the past but currently taking a pass.
I have personal reservations with a fund "family" like Fidelity. IMHO I would go with an independent advisor like the Mutual Fund Store that is a fee-based, advisor-client relationship model that can pick from the field of no loads rather than a commission based broker/fund.
http://www.mutualfundstore.com/
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