NASDAQ is bleeding..

[Total Refected Power]

Tech stocks just keep on taking a beating. Some people calling for NASDAQ bottom at 2000. Ouch.
People will be looking for Greenspan for relief.

 

[IBhacknU]

to lower interest rates?

 

[Windogg]

The grudual shake out of overpriced stocks will hurt but in the long run it's better than one big crash.

Windogg

 

[Total Refected Power]

IBHack:

At least to change their bias. I doubt they will actually lower rates next month.

Windogg: At least the bottom is near. Hopefully, profits from the past years will buffet this fall. Still there will be a lot of people who get hurt.

 

[Fathom5]

Makes sense Widogg it just stretches out the agony though.

 

[Vikaden]

I'll have to write it a seeping ticket

 

[ArkAoss]

hmm if only i had money to invest in nasdaq now . . .

 

[Windogg]

Yea, it's hurting a lot of people bad. I;m glad I passed on the latest company stock offering. Many people have seen their life savings cut by 1/3. Those that bought last March before I joined the company have lost close to 1/2 their value. The options my brother has in his company are now pretty much worthless.

Sucks bad.

Windogg

 

[Spook]

Hard to believe it was over 4000... Wow one hell of a Bear market...

 

[Total Refected Power]

Spook: It was over 5000 early this year. Cut in half!!!!!!!

 

[IBhacknU]

I bought in last week (QQQ) when the Nasdaq was around 2800. I am still positive it was an acceptable entry, as I won't need the money until I retire.

 

[StageLeft]

windogg

Damn, that does suck...those people who have lost life savings though should really have consulted somebody before splurging into tech stocks. For years many investers have said they were overpriced and something was going to happen... Maybe for a car fund thats one thing but I would never invest my retirement into something so damn volatile. Dow jones for me plz

 

[Windogg]

I've only played around a little with techstocks for the last year. I guess the whole ValueDollars thing just make something click in the ole coconut.

"WHOA!!! We're bleeding this company dry. Wait a minute...... we're bleeding all of them dry."

That's when I got out and I'm glad I did. Of course I did score big shorting RMBS.

I came very close to buying company stock because there was alot of internal pressure. It was kinda implied that you are "supporting the company". Plus many people only looked at the company and not the sector in general or forcasts by industry insiders. It's bad to see people losing out but uninformed investing is like gambling. Without the right info, you're just taking a crapshoot.

Having AnandTech, Ars, HardOCP, and other really helped. I was on with AMD and nVidia when things went right.

Windogg

 

[Napalm381]

<< Many people have seen their life savings cut by 1/3. >>

Diversify, diversify, diversify. When will people get the hint?

 

[fdiskboy]

Talk about buying opportunities...

AMD under 15
DELL under 20
MSFT down over 6
INTC down about 5

I'm tempted to sell my healthcare stock and buy into some of these good stocks that are suffering from Gateway's fallout.

 

[Fathom5]

<< uninformed investing is like gambling. Without the right info, you're just taking a crapshoot. >>


This is not my job or area of expertise. The guy that handles our accounts here at work has done a great job of keeping our investments diversified. Our returns on a whole are better than average so I if I have any extra to invest I just put it in one of my accounts here and let him handle it.

 

[Windogg]

Fathom5, exactly my point. There are alot of people daytrading at the office and just because they have a web connection, they think they are better than those &quot;investment guys&quot;. I knew one lady was in trouble when she said, her brother in law told her to &quot;buy Rambus @ $150 because they were the future&quot; Uhhhhh.... I once did this guy a favor when he couldn't figure out how to install his own video card. I knew she was screwed.

When it comes it my savings, I leave it up to the professionals. Sure it's ok to play around with a few thousand to get your feet wet. I've done it and made a few buck. The money that I will be using to send my future kids to college with, build a house with, and retire on will be managed by those that do it for a living at a reputable firm (Fidelity in my case).