Dow down 300 points! WTF!!!

[Night201]

How much more...

 

[iamwiz82]

wow, its fluctuating like mad!

 

I think the problem lies in the tech industry...with the failing of Cyberwings, the industry has just been ROCKED.

 

[hoihtah]

damm.
things are looking real bad.

 

[A5]

Sh!t. There goes more of my college tuition money

 

[The Stigenator]

The market is doing a correction to the raise in profits during 1997 - 2000.

I thought it levelled off before worldcom and enron and everyone else became house hold names.

It will go down a lot more before it settles in. Remember these companies artificially floated values so their new values affected the stock market and it went up. now that the real values have shown it will go down.

Mind you the orignial 10K that was an artificial flux.. remember it hit 10K and then a month later 11K.

The market was being pushed up by silly investors who were new and with a lot of money, companies that wanted those investors and eventually the market found out and is correcting itself.

Just ebcause the stock market is down doesnt mean its a "recession" but its more like an adjustment of terms. We can perfectly work with a lower number. I think it will settle somewhere in teh mid 8's.

 

[no0b]

Originally posted by: A5
Sh!t. There goes more of my college tuition money

Yea I got my bank statement for my college fund and I lost about 2g's.

 

[aphex]

Originally posted by: no0b

Originally posted by: A5
Sh!t. There goes more of my college tuition money

Yea I got my bank statement for my college fund and I lost about 2g's.

Ive lost almost 32k in the past 2 years.

 

[brtspears2]

Being broke stinks.

 

[dirtboy]

Let it fall... I already moved all my money out of the market...

 

[Czar]

http://finance.yahoo.com/q?s=^DJI&d=c&k=c1&a=v&p=s&t=my&l=on&z=m&q=l
amazing climb though if you look at it spanning 10 years

 

[Night201]

Originally posted by: The_good_guy
The market is doing a correction to the raise in profits during 1997 - 2000. I thought it levelled off before worldcom and enron and everyone else became house hold names. It will go down a lot more before it settles in. Remember these companies artificially floated values so their new values affected the stock market and it went up. now that the real values have shown it will go down. Mind you the orignial 10K that was an artificial flux.. remember it hit 10K and then a month later 11K. The market was being pushed up by silly investors who were new and with a lot of money, companies that wanted those investors and eventually the market found out and is correcting itself. Just ebcause the stock market is down doesnt mean its a "recession" but its more like an adjustment of terms. We can perfectly work with a lower number. I think it will settle somewhere in teh mid 8's.

The "bubble" is really starting to settle.

 

[StageLeft]

Ouch this isn't good. At least i'm not retiring soon!

 

[RossMAN]

Originally posted by: Skoorb
Ouch this isn't good. At least i'm not retiring soon!

Same here. I'm only 27.5 and won't be retiring for a long time so as long as it rebounds that's all I care about.

My 401k sure is taking a beating though, think I should put more into euro, asia, and that other stuff.

 

[cjchaps]

Good thing about being broke is that you don't lose money from bad investing

Originally posted by: brtspears2
Being broke stinks.

 

[Queasy]

Look for the Dow to drop to post 9/11 levels (~8200) then slowly rise again. Around that point, investors will put their money back into the market because of the bargains that will be out there.

 

[optoman]

DOW 5000 here we come! :disgust:

 

[Adul]

i moved my money into safer stuff longer ago. My 401k actually gained last year

 

[Cattlegod]

i just hope that there is enough money in the market next spring to give me a job when i graduate with a computer engineering degree

 

[Lalakai]

The situation will not stabilize for quite awhile; not until the "little" folks are comfortable again, and that's not on any horizon!!! Right now 99% of the little guys are out of the system and the only money in the market is being re-cycle between the big players. Even the more experienced "little" guys are staying on the side lines due to their loss of trust in the basic honesty of the market. The big players have to have the money and willingness of the little guys, but the bridges have been burned and I think it's gonna be a long slow recovery.

Efforts at damage control by the government are lacking in strength and conviction and extremely few people are even willing to listen to businesses or the government, much less trust what is being said.

Nope, most of the little players are sitting on the sidelines and until they get back in the game, there won't be any recovery.

 

[Night201]

Originally posted by: RossMAN

Originally posted by: Skoorb Ouch this isn't good. At least i'm not retiring soon!

Same here. I'm only 27.5 and won't be retiring for a long time so as long as it rebounds that's all I care about. My 401k sure is taking a beating though, think I should put more into euro, asia, and that other stuff.

I'm 23.75 years old and my 401(k) is taking a beating as well. Oh well, no big deal. It'll all settle in the long run and go up. I have 40 more years ahead of me.

 

[kranky]

Since the idea is to "buy low, sell high", it seems like the time to buy. So many of my co-workers put all their 401k money in the high-risk funds during the tech bubble, and over the last year, long after things were tanking, moved it into something else. I guess they think you should buy high and sell low. All they do is whine about how badly they are doing.

I have my 401k divided (not equally) among a low-risk index fund, a growth fund, a small-cap fund, and an international fund. Then I move some of the money around yearly to keep the proportions the same. That forces me to buy funds when they are down and sell them when they are high. This approach is known as "asset allocation" in case anyone wants to research it.

I probably won't have 20%/year growth, but slow and steady wins the race. 10% per year until I retire will bring me a very happy ending.

 

[Random Variable]

There has to be some sort of massive capitulation before the market goes back up.

 

[Freejack2]

So long as this doesn't turn into another 1929 with brokers throwing themselves out windows.
Granted the market shuts down if it falls 1000 points in a day but if confidence is totally shot it'd just take longer for it to hit rock bottom.
I really hope it does level off soon. I don't want to see another great depression.

Here is one brief on the Great Depression.

I have a feeling the controls designed to stop this sort of thing are going to be put to the test in the coming weeks.

 

[NakaNaka]

I've got two years before college. Hopefully the market will have a nice pick up by then ... If not, I am really screwed.