Great day for the economy

[StageLeft]

So the Dow is down about 173points at the moment, WELL under 11k, so we're looking at it being about 22-23% lower than last October. This is a great buy opportunity!

On the up side, inflation is growing at its fastest pace in 27 years

No worries if you work at GM, which is to cut 20% worth of salaried cash costs .

 

[GTKeeper]

Get ready for a serious downturn!

Time to Short some Stock!


Its funny, I bought some put options on Lehman back in March @ 20 and some guy who works for Merryl Lynch was laughing at me 2 weeks ago saying LEH is a buy each time it goes below 23. Now its at 13 and I just sold my options.

 

[jman19]

Where is PJ to tell us that the economy is fine?

 

[yllus]

I wouldn't buy now. However, possibly look into some inverse ETFs? I'm too much an ignorant to put my money where my mouth is, though.

 

[StageLeft]

Originally posted by: yllus
I wouldn't buy now. However, possibly look into some inverse ETFs? I'm too much an ignorant to put my money where my mouth is, though.

Me, too. I wanted to short oil when it was at $120 hehe

 

[ayabe]

You guys just need to stop whining.

While you're at it, could you please go shopping? Don't worry about the credit card bills, you can pay the minimum.

 

[HomerJS]

It's all imaginary

 

[Martin]

Also the EUR/USD is back in 1.60 territory. InBev execs are likely very happy

 

[rchiu]

Big freaking deal. Dow was at 7500 in 2002, did the world end? There is gonna be up and down, that's what the stock market, the economy do. We will get through it, like we get through every depression, recession.

 

[Engineer]

Originally posted by: rchiu
Big freaking deal. Dow was at 7500 in 2002, did the world end? There is gonna be up and down, that's what the stock market, the economy do. We will get through it, like we get through every depression, recession.

That's right. The market was at 10,500+ at the start of 2001. We'll be just fine.

 

[yllus]

Originally posted by: rchiu
Big freaking deal. Dow was at 7500 in 2002, did the world end? There is gonna be up and down, that's what the stock market, the economy do. We will get through it, like we get through every depression, recession.

Yes, it did end. It also ended in 1987 when the Dow lost 20%+ of its value in a single day. But never mind that - nothing like this has ever happened before. It's the end of the world!

 

[shiner]

So is the the real end of the world or another one of those fake end of the world things? Cause I'm not shaving my nuts again if this is just another fake end of the world.

Imagine my embarrassment of going through the "cleansing ritual" and getting dressed in my finest Green Lantern Underoos and standing in the yard with a torch made of flaming tampons in one hand and a DVD of Gigli in the other while I waited on the mothership to land.

Which it never did.

Damnit!

 

[Engineer]

Originally posted by: shinerburke
So is the the real end of the world or another one of those fake end of the world things? Cause I'm not shaving my nuts again if this is just another fake end of the world.

Imagine my embarrassment of going through the "cleansing ritual" and getting dressed in my finest Green Lantern Underoos and standing in the yard with a torch made of flaming tampons in one hand and a DVD of Gigli in the other while I waited on the mothership to land.

Which it never did.

Damnit!

:camera:'s

 

[2Xtreme21]

At least I work for one of the only companies that's prospering despite the recession (US Steel). Thanks China!

 

[Capt Caveman]

Originally posted by: shinerburke
So is the the real end of the world or another one of those fake end of the world things? Cause I'm not shaving my nuts again if this is just another fake end of the world.

Imagine my embarrassment of going through the "cleansing ritual" and getting dressed in my finest Green Lantern Underoos and standing in the yard with a torch made of flaming tampons in one hand and a DVD of Gigli in the other while I waited on the mothership to land.

Which it never did.

Damnit!

The world was supposed to end on June 12th - http://abcnews.go.com/Blotter/Story?id=5008225

Oh wait.

 

[jman19]

No one is saying that the world is ending, just that the markets are crap right now.

 

[MiniDoom]

Originally posted by: 2Xtreme21
At least I work for one of the only companies that's prospering despite the recession (US Steel). Thanks China!

me too, defense (thanks war on terror!).

 

[K1052]

Originally posted by: rdubbz420

Originally posted by: 2Xtreme21
At least I work for one of the only companies that's prospering despite the recession (US Steel). Thanks China!

me too, defense (thanks war on terror!).

don't forget about us in the movie industry

would you like some buttery popcorn to go with your despair?

 

[ayabe]

Originally posted by: 2Xtreme21
At least I work for one of the only companies that's prospering despite the recession (US Steel). Thanks China!

Well some of that steel is being used to build the Freedom Tower, right?

Oh wait......

 

[rpanic]

Watching Bush's press conference this morning was painful; he said Fredie Mac ,Fannie May wasn?t getting bailed out by the government LOL. The guy is looking around, up, at his had, while giving answers to the press. I?m thinking he looks like he is hoping for the power to go out or and earthquake to hit to get out of there just plain embarrassing.

 

[StageLeft]

Originally posted by: rchiu
Big freaking deal. Dow was at 7500 in 2002, did the world end? There is gonna be up and down, that's what the stock market, the economy do. We will get through it, like we get through every depression, recession.

Yeah, who cares. This doesn't even matter at all!

 

[rchiu]

Originally posted by: Skoorb

Originally posted by: rchiu
Big freaking deal. Dow was at 7500 in 2002, did the world end? There is gonna be up and down, that's what the stock market, the economy do. We will get through it, like we get through every depression, recession.

Yeah, who cares. This doesn't even matter at all!

What, do you expect the economy and the stock market to be going up all the time? It's not that it doesn't matter. It's just something to be expected. Nothing new and nothing we haven't gone through already.

 

[shocksyde]

Originally posted by: rdubbz420

Originally posted by: 2Xtreme21
At least I work for one of the only companies that's prospering despite the recession (US Steel). Thanks China!

me too, defense (thanks war on terror!).

me too, booze (thanks depressed peoples!)

 

[StageLeft]

Originally posted by: rchiu

Originally posted by: Skoorb

Originally posted by: rchiu
Big freaking deal. Dow was at 7500 in 2002, did the world end? There is gonna be up and down, that's what the stock market, the economy do. We will get through it, like we get through every depression, recession.

Yeah, who cares. This doesn't even matter at all!

What, do you expect the economy and the stock market to be going up all the time? It's not that it doesn't matter. It's just something to be expected. Nothing new and nothing we haven't gone through already.

Would you say the same thing it if dropped 30% or 40% or 90%, just oh we've had it before no big deal? At some point it is a big deal.

 

[rchiu]

Originally posted by: Skoorb

Originally posted by: rchiu

Originally posted by: Skoorb

Originally posted by: rchiu
Big freaking deal. Dow was at 7500 in 2002, did the world end? There is gonna be up and down, that's what the stock market, the economy do. We will get through it, like we get through every depression, recession.

Yeah, who cares. This doesn't even matter at all!

What, do you expect the economy and the stock market to be going up all the time? It's not that it doesn't matter. It's just something to be expected. Nothing new and nothing we haven't gone through already.

Would you say the same thing it if dropped 30% or 40% or 90%, just oh we've had it before no big deal? At some point it is a big deal.

You don't get it, it's not because it has happen before, it's because the up and down is part of the economy, part of the market. That's what market suppose to do, go up and down.