Markets open - and plummeting!!! Don't pull out!!!

[ShadowHunter]

News link

Oh dear God. Could be bad stuff tomorrow. I've got alot of money (for a 16 yr old anyway) in the market (mostly mutual funds). I sure as heck ain't pulling out tho, and I beg of you not to either.


EDIT- See below for my post.

 

[spanky]

don't pull out. ieven if it does drop, that would be a good time to put more money in. u know...buy low/sell high

 

[N8Magic]

I have a fair amount in the markets as well, and I am not going to budge.

I think there will be a lot of patriotic sentiment not to sell tomorrow. A poll on CNBC stated that +~90% of people surveyed would NOT sell anything on Monday. Whether that holds up or not remains to be seen. I just know that my money STAYS where it is.

 

[rival]

remember kids, pulling out early only works during sex, and NOT the stock market

 

[Sluggo]

There will be some deep pockets hanging around tomorrow, deal hunting. I doubt anything bad will happen.

 

[ShadowHunter]

<< remember kids, pulling out early only works during sex, and NOT the stock market >>



:Q

 

[Damaged]

<< remember kids, pulling out early only works during sex, and NOT the stock market >>


Heh. Like my father used to say: "Son. Playing truck driver is not a method of birth control. Don't try to back up quicky without unloading."

 

[ShadowHunter]

Good God, it's 7:15 PST (10:15 EDT), and the dow is down 500 and the nasdaq is down 100; the dow is at 9000 and the Nasdaq is somewhere around 1500.

 

[GTaudiophile]

I'm holding. I'm in for the long term...I'll pull out in about 45 years.

 

[rudder]

Well it was just like last Tuesday here in Tennessee. People made a run for the gas pumps. I would tell people that the supply would not be affected. They said "that makes sense, we should not create a panic." Then they went and did it anyway.

All yesterday and this morning I heard everyone preaching, YES lets stay in the market and even buy! As a group it sounded great. But a small percentage doing hte preaching probably said, well screw this being united crap. I will go ahead and sell. I have to look out for myself. Multiply that feeling. That is what is happening. People put United We Stand Divided We Fall all over town, but they do not know what it means.

 

[LocutusX]

I've already lost two grand in this damn bear market (for the misinformed -- the markets were already pretty bad before any of this WTC stuff started happening) so I sure as hell am not pulling out now.

 

[yos]

I work at a financial institution and I say, pump your money into the market (of course, buy smart). The market WILL go back up. Mutual Fund onwers, stick with it. It will come back in the long run!
-Yos

 

[Thump553]

I'm staying put-its mostly IRA money I won't need for another twenty years or so.

Already taken a huge beating in the last 18 months. But hey, a guy from my town was lost in the WTC-with kids the same ages as mine. Financial risk or loss just doesn't seem that significant anymore.

I am hoping though, that my mutual funds are light in airline stocks-because all of those are going in the toilet for sure.

 

[PlatinumGold]

being an economist

my advice would be to leave the funds you have in the market in the market, but don't go out of your way to buy stocks. right now, what our country needs is a boost of consumer spending, christmas spending would be good, don't be afraid to fly, airlines don't need you to buy their stocks, airlines need you to buy their tickets.

stock market will take care of itself, foreign investors will start propping up the market, guaranteed, if for no other reason then that there really isn't a better bargain anywhere else.

 

[Emulex]

plat damn good advice: buy product, use your credit card, america needs cash infused into the economy not by stocks...

 

[matthewperry]

Opened real low but it looks like it is heading up.

 

[MF1]

First time I checked it was down around 600. Now it's around 460. looks much better.

 

[UT4EVER]

Which stock(s) are worth buying now?

 

[Pocatello]

Don't worry, it will bounce back. I wouldn't pull out either, if I had any stock.

 

[andalas]

<< Which stock(s) are worth buying now? >>



Like CNN reported
Drugs and Defense company is a good buy.

 

[Pocatello]

The airline and insurance companies will get relief from the government. Please don't panic.

 

[glen]

Good time to buy NVidia.

 

[blakeatwork]

<< damn good advice: buy product, use your credit card, america needs cash infused into the economy not by stocks... >>



Ummm. that would be absolutely wrong advice. By adding to personal debt, you are leaving yourself open to the risk of overwhelming debt in the (unlikely) event of a recession. Be smart, BUY smart, and don't spout off ideas on how to "fix" the market. The economy cannot be fixed overnight, especially with daytraders. Once companies return to some semblance of profitability, then the market will turn around. This of course will involve employee layoffs and the like, with cost-cutting thrown in for good measure.

Consumer cofidence is the most important aspect of the market right now, as explained above and in other threads. However, don't be fooled into buying that big-ticket item because you think it will make everything all better. There has to be sustained growth for at least 2 or 3 quarters, which would enable the world economy to get back on the level, at which point they can ramp up production of goods and services. US debt hit an all-time high last month (not sure of the actual figures), but the econmy is growing faster then expected, albeit at less then ideal rates US growth beat estimate.

In summary, educate yourself before you jump into the water, it can be mighty cold in there..

 

[PlatinumGold]

blake

good advice.

my primary concern is w/ the be patriotic buy stocks thing. if you have money to spend, spend it on consumer goods not on the stock market is my point. i agree to an extent w/ regards to credit cards, but not completely. right now we need an infusion of cash into our economy. credit cards area good temporary fix for that.

but in general, i've stated it on these boards many times, it's the middle class consumer that decides where our economy will go. stop watching the stock market as an indicator of our economic health. it's not. consumer confidence is the single most important factor. believe in america. but be wise about it of course.

 

[badluck]

1 thought of advice -- Buy Polycom stock!! Video-conferencing is and will be on the rise especially with people more reluctant to fly. That is how I'm making my money. I work on a project called the Access-Grid-Node and we use Polycom equipment to do some of our video conferencing. They make great point-to-point communication hardware......

Once I roll out a few of these Access-Grid-Nodes that's where the big money will be.....Mark those words!!!!