Dow Below 10,000

[Dissipate]

Originally posted by: Skoorb
Another day another 5% drop, oh well.

I do feel much better after buying some bonds yesterday before today happened. I was way too late to get out of 100% stocks, but better late than never, and I'm still mostly in stocks and buying them for whenever the recovery happens (tries not to laugh).

Don't worry, there is going to be a massive rally in after hours trading.

 

[dmcowen674]

Originally posted by: OrByte
wow.

~ - 500 down again.

Still waiting for that good ol 'trickle down.'

It's trickling down alright.

Millions of seniors swindled out of $2 trillion dollars of their retirement.

This is what Bush and the Republicans wanted everyone to do.

10-7-2008 Retirement accounts have lost $2 trillion

Americans' retirement plans have lost as much as $2 trillion in the past 15 months, Congress' top budget analyst estimated Tuesday.

"Unlike Wall Street executives, America's families don't have a golden parachute to fall back on," said Rep. George Miller, D-Calif., the panel chairman. "It's clear that their retirement security may be one of the greatest casualties of this financial crisis."

A new AARP study found that because of the economic downturn, one in five workers 45 and older has stopped putting money into a 401(k), IRA or other retirement savings account during the past year, and nearly one in four has increased the number of hours he works.

 

[Dari]

Originally posted by: Pliablemoose
I made $3K, I have a shitload of GLD & SLV, goddamn Apple is down 50%

Come on, man. You know luxury companies like Apple will be the first to go during a time like this. You've got to invest in thrifty companies like Campbell's soup, Walmart, Costco, etc...

 

[Pliablemoose]

Originally posted by: Dari

Originally posted by: Pliablemoose
I made $3K, I have a shitload of GLD & SLV, goddamn Apple is down 50%

Come on, man. You know luxury companies like Apple will be the first to go during a time like this. You've got to invest in thrifty companies like Campbell's soup, Walmart, Costco, etc...

Yeah

I was following the Motley Fool, a paid service even

 

[Dissipate]

Originally posted by: Pliablemoose

Originally posted by: Dari

Originally posted by: Pliablemoose
I made $3K, I have a shitload of GLD & SLV, goddamn Apple is down 50%

Come on, man. You know luxury companies like Apple will be the first to go during a time like this. You've got to invest in thrifty companies like Campbell's soup, Walmart, Costco, etc...

Yeah

I was following the Motley Fool, a paid service even

A paid stock tip service? *barf*

 

[Pliablemoose]

Originally posted by: Dissipate

Originally posted by: Pliablemoose

Originally posted by: Dari

Originally posted by: Pliablemoose
I made $3K, I have a shitload of GLD & SLV, goddamn Apple is down 50%

Come on, man. You know luxury companies like Apple will be the first to go during a time like this. You've got to invest in thrifty companies like Campbell's soup, Walmart, Costco, etc...

Yeah

I was following the Motley Fool, a paid service even

A paid stock tip service? *barf*

A fool & his $.....

SLV was up nearly 5%

 

[wwswimming]

Originally posted by: DissipateDon't worry, there is going to be a massive rally in after hours trading.

maybe in the sales of alcohol.

most companies have not yet reported 3rd quarter results. i don't understand
how the market will go up when faced with news like this, "BofA reports 68%
net income drop in 3Q".

http://austin.bizjournals.com/...daily16.html?ana=yfcpc

the news is full of anecdotes -
* Altria having to delay its acquisition of UST because of a lack of funding.
* SAP's warning of a "sudden drop" in orders.
* Bank of America slashing its dividend and reporting a 68% year-over-year drop in earnings.
* A car dealer whose sales fell 50% in September, even as gas prices declined.
* A corporate CFO being unable to get a credit card.

from Yahoo Finance

 

[Engineer]

*sigh*

Nothing that a few more tears won't take care of...I guess.

 

[nageov3t]

Originally posted by: dmcowen674

Originally posted by: OrByte
wow.

~ - 500 down again.

Still waiting for that good ol 'trickle down.'

It's trickling down alright.

Millions of seniors swindled out of $2 trillion dollars of their retirement.

it's all part of laying the foundations for soylent green

 

[RichardE]

America and its 53 trillion $ debt


http://www.cnn.com/2008/POLITI...ker.bailout/index.html

 

[jackace]

I have been checking out some videos from Jim Cramer and he is now saying we are at the point where we need to avoid a depression. He is telling anyone who needs their money in 5 years to get out of the stock market completely. The only money he says you should have in the market at this point is your long term money and he says you should avoid the financial sector all together, because the government could seize any of these institutions at any time and you lose everything.

This just seems weird to me. He has always been that guy telling people to put their money in the markets and now he is telling people basically the exact opposite.

 

[Fern]

Originally posted by: LegendKiller
We are facing massive deflation from housing, energy, and food, at this point.
-snip-

I'm rather doubtful about deflation in energy & food.

IMO, the price of gas will continue to exert inflationary pressures on those two items. Food will also be subject to inflationary pressure from the stupid ethanol mandate. Weather and crop yields will also play a role; IIRC, global inventory of grains is down due to poor crops last year etc.

Fern

 

[StageLeft]

Originally posted by: jackace
I have been checking out some videos from Jim Cramer and he is now saying we are at the point where we need to avoid a depression. He is telling anyone who needs their money in 5 years to get out of the stock market completely. The only money he says you should have in the market at this point is your long term money and he says you should avoid the financial sector all together, because the government could seize any of these institutions at any time and you lose everything.

This just seems weird to me. He has always been that guy telling people to put their money in the markets and now he is telling people basically the exact opposite.

He is not against the markets, just against them in short-term, although I think 5 years is a while. He is at the same time emphatic that he believes if you don't need it in 5 years to leave it in there and also to not touch your 401k and let it ride out.

The unfortunate problem is that this is happening very, very quickly, and it's not a slow recession, I agree it's at the point now where we need to wonder what a depression is going to look like. It could turn around quickly, potentially, but depression talk is no longer extremism.

 

[Dissipate]

Originally posted by: jackace
I have been checking out some videos from Jim Cramer and he is now saying we are at the point where we need to avoid a depression. He is telling anyone who needs their money in 5 years to get out of the stock market completely. The only money he says you should have in the market at this point is your long term money and he says you should avoid the financial sector all together, because the government could seize any of these institutions at any time and you lose everything.

This just seems weird to me. He has always been that guy telling people to put their money in the markets and now he is telling people basically the exact opposite.

I'd look at pulling out of U.S. markets altogether. The U.S. faces serious fiscal problems over the next 20-30 years, if not more.

 

[First]

Wow, this is a great time to buy. My stocks haven't been hit as bad as the indexes were, but there's no question I'm putting several grand into the market by the end of the day. This is a prime buying opportunity today, whether stocks rise or fall sharply tomorrow. Damn, I should have shorted Monday morning.

 

[wwswimming]

it's not all bad news. Intel has price cuts scheduled for October 19, I think,
and Q9650's will be going for about $330.

 

[StageLeft]

Originally posted by: wwswimming
it's not all bad news. Intel has price cuts scheduled for October 19, I think,
and Q9650's will be going for about $330.

If they're desperately cutting prices, they'll have less R&D cash, too, so your next chip will be delayed and/or not as fast as it should have been.

 

[Engineer]

Originally posted by: Skoorb

Originally posted by: wwswimming
it's not all bad news. Intel has price cuts scheduled for October 19, I think,
and Q9650's will be going for about $330.

If they're desperately cutting prices, they'll have less R&D cash, too, so your next chip will be delayed and/or not as fast as it should have been.

AMD is going to outsrouce their manufacturing. It was actually up 8.5% on the day. Pretty amazing that anything went up on such a shitty day/week/month/decade....for the market.

 

[dmcowen674]

Originally posted by: Skoorb

The unfortunate problem is that this is happening very, very quickly, and it's not a slow recession, I agree it's at the point now where we need to wonder what a depression is going to look like.

It could turn around quickly, potentially, but depression talk is no longer extremism.

No longer "extremism"?

Dave can never be right.

In fact the Bush regime still hasn't acknowledged we're in a recession.

McCain and Bush, you and the rest of the Republican supporters were saying up until a couple fo weeks ago that the economy is strong.

You can't have it both ways.

 

[ElFenix]

Originally posted by: Engineer
AMD is going to outsrouce their manufacturing. It was actually up 8.5% on the day. Pretty amazing that anything went up on such a shitty day/week/month/decade....for the market.

selling their manufacturing to a company they own is hardly 'outsourcing'

 

[Firebot]

Isn't it great that the 810 billion dollar bailout saved the economy and the AIG executives were still able to get their 400000$ sunny resort getaway with taxpayers footing the bill?

 

[TheSlamma]

Originally posted by: Firebot
Isn't it great that the 810 billion dollar bailout saved the economy and the AIG executives were still able to get their 400000$ sunny resort getaway with taxpayers footing the bill?

Trickle down baby.. trickle down

 

[TheSlamma]

Originally posted by: dmcowen674

Originally posted by: Skoorb

The unfortunate problem is that this is happening very, very quickly, and it's not a slow recession, I agree it's at the point now where we need to wonder what a depression is going to look like.

It could turn around quickly, potentially, but depression talk is no longer extremism.

No longer "extremism"?

Dave can never be right.

In fact the Bush regime still hasn't acknowledged we're in a recession.

McCain and Bush, you and the rest of the Republican supporters were saying up until a couple fo weeks ago that the economy is strong.

You can't have it both ways.

Too bad you don't get any points for claiming it's the end of the world.. you only get points if you can say how to stop it... Classic Dave. Can point his finger.. but can't do a damn thing about it. Chicken Little

 

[Engineer]

Originally posted by: ElFenix

Originally posted by: Engineer
AMD is going to outsrouce their manufacturing. It was actually up 8.5% on the day. Pretty amazing that anything went up on such a shitty day/week/month/decade....for the market.

selling their manufacturing to a company they own is hardly 'outsourcing'

Regardless, the market liked it. I'm not sure how selling manufacturing to something you already own is actually "selling". Shouldn't it be "transferring" instead then?

 

[StageLeft]

Originally posted by: dmcowen674

Originally posted by: Skoorb

The unfortunate problem is that this is happening very, very quickly, and it's not a slow recession, I agree it's at the point now where we need to wonder what a depression is going to look like.

It could turn around quickly, potentially, but depression talk is no longer extremism.

No longer "extremism"?

Dave can never be right.

In fact the Bush regime still hasn't acknowledged we're in a recession.

McCain and Bush, you and the rest of the Republican supporters were saying up until a couple fo weeks ago that the economy is strong.

You can't have it both ways.

Check your facts. You've already been banned before for slinging fallacious sh*t on multiple occasions. I've held since the beginning of the year, if not earlier, that a recession was on its way. Further, I've disliked Bush for years. I've told you this. You know it and continue to lie about it to make some asinine point which almost all of us will laugh at you for anyway. Why do you bother?

You continually scream the sky is falling, so when it does you go on about how accurate you are and yet every time we mention the $7 milk and $5 gas you just ignore it or make up some job you were fired from ad tedium.

And, for probably the 8th time, I've told you to see a psychiatrist. I really do believe one could steer you in a better direction in your life.