8/8 Stock Market thread *EDIT* Lets watch what happens 8/9 now

[dmcowen674]

But we don't care about timestamps unless you're gonna make another one of your legendary predictions for us....

This is one of them coming true as usual

 

[nick1985]

Dave get out of this thread and go look for a job

 

[dmcowen674]

All the guys at work can confirm I said the S&P was going to downgrade the U.S no matter what Congress did.

 

[Jaskalas]

All the guys at work can confirm I said the S&P was going to downgrade the U.S no matter what Congress did.

Hey, there's one honest person out there.

 

[nick1985]

All the guys at work can confirm I said the S&P was going to downgrade the U.S no matter what Congress did.

shens

 

[Phokus]

Someone once said something like, "The time to invest is when there's blood in the streets" (forgot who). As a value investor, this is a great time to invest. Although definitely not all in at once. I'm going to dollar cost average as i ride the market down little by little.

 

[matt0611]

Gold and silver, in hand. Not paper shit. Have it in your possession.

Good advice. :thumbsup:

Someone once said something like, "The time to invest is when there's blood in the streets" (forgot who). As a value investor, this is a great time to invest. Although definitely not all in at once. I'm going to dollar cost average as i ride the market down little by little.

Probably not a bad idea. I wish I had more cash last time when it dipped down at 6000.

 

[nageov3t]

reading this thread is kinda funny.

almost reminds me of:

http://pics.bbzzdd.com/users/loki8481/atp_t.jpg (giant pic warning)

 

[HendrixFan]

There are a lot of rediculously undervalued stocks right now that are dropping for no real reason. Oil companies, some tech compaies (AAPL GOOG for example). There are a lot of places to put your money if you want some long term growth.

The P/E for AAPL and GOOG (especially GOOG) is pretty high. I don't know why you think they would be undervalued versus KO, INTC or MSFT. Not only are their P/E high, but they don't pay out dividends.

 

[HendrixFan]

Someone once said something like, "The time to invest is when there's blood in the streets" (forgot who). As a value investor, this is a great time to invest. Although definitely not all in at once. I'm going to dollar cost average as i ride the market down little by little.

http://www.google.com//finance?chdn...chls=IntervalBasedLine&q=INDEXDJX:.DJI&ntsp=0

The market is up 70% since March of '09. I don't see where the fundamentals of our economy have improved that much in that time, or at all really. "Blood in the streets" can hardly describe a 70% upswing over a two and a half year span. That upswing includes losses from Thursday and today.

 

[Phokus]

http://www.google.com//finance?chdn...chls=IntervalBasedLine&q=INDEXDJX:.DJI&ntsp=0

The market is up 70% since March of '09. I don't see where the fundamentals of our economy have improved that much in that time, or at all really. "Blood in the streets" can hardly describe a 70% upswing over a two and a half year span. That upswing includes losses from Thursday and today.

That's why i said dollar cost average little by little. The blood started flowing but it'll take a while to bottom out.

 

[HendrixFan]

That's why i said dollar cost average little by little. The blood started flowing but it'll take a while to bottom out.

If you have faith that the market has quite a way to go to get to the bottom, move to conservative holdings for the time being. If you are able to keep from a 30-40% drop, you don't have to be anywhere near perfect when deciding when to buy back in and still come out ahead. Remember, a 30% drop followed by a 30% gain still doesn't put you back where you started.

 

[senseamp]

No need to be a hero, let this sucker come down another 30-40%.

 

[dmcowen674]

11:35 down 316

 

[sm625]

And almost all of QE2 comes off in 5 days. Funny that. What's really funny is that the stock market is still up 10% over a year ago. Based on absolutely nothing. Technically though, for those with giant brass balls now is the time to buy.

 

[CPA]

This is one of them coming true as usual

But what's this going to do to your Drive for Five prediction?

 

[shiner]

But what's this going to do to your Drive for Five prediction?

or the $7 milk?

 

[MotF Bane]

Guess I should've sold early last week. Personal account is outpacing the market... downwards.

 

[umbrella39]

Cares not.... got out MONTHS ago. Gold baby, gold... That is all.

 

[DaveSimmons]

Rats, times like this I wish I'd gotten around to linking my bank account to my brokerage so I could shift money there the same day instead of it taking a week.

This might not be the bottom, but it's still a good time to pick up some index fund shares for the long term.

 

[Gigantopithecus]

Still up ~12% compared to 8/8/10, which while not great, is better than what a CD would've done for me. Ugh.

I'm too poor for gold, but all that silver I bought at $5.50/oz back in 2004 is making me feel a lot better about my stock portfolio, ha.

 

[DaveSimmons]

^ don't forget to count your dividends / distributions too. My S&P fund shares are paying more in distributions than my "high interest" savings account.

 

[blackangst1]

All in all a pretty uneventful day so far.

 

[blackangst1]

that's why i said dollar cost average little by little. the blood started flowing but it'll take a while to bottom out.

ding ding ding! Winner!

 

[Gigantopithecus]

^ don't forget to count your dividends / distributions too. My S&P fund shares are paying more in distributions than my "high interest" savings account.

Yeah, my dividends are accounted for in that 12% figure. In fact, they're really the only thing keeping me over 5% this year. Thank goodness for silver. I have a lot of learning to do before next year when I finish school and can really start investing on a real income.