***Official*** 2008 Stock Market Thread

[Miramonti]

The longterm affects of this market are scarier than the shortterm ones imo. With banks and institutions folding, there is going to be a liquidity crunch and contraction that hurts business credit lines, financing, refinancing, and future overall investments in companys' growth (including in the venture capital market.) The credit crunch in the housing sector is just the tip of the iceberg.

When big bubbles burst it always takes a few years for those who were 'electrocuted' with their investements to return to the market place (if they can at all), and for a new wave of speculators and investors and new backers to get their feet wet (generally speaking.) This bubble burst is different from the 1987 crash and the .com period too, since its pummeling banks and institutions like never before. All of this is going to affect how strongly this market can rebound and how much growth it will see for the next few years once it stabilizes.

 

[redgtxdi]

This is flippin' amazing!!!


I joked several weeks ago about sub 10k on the Dow.

I think we're goin' there real soon!!!


:thumbsup:


P.S. Wanted to add that while I normally agree w/ most of what Suze Orman says.....I thought her comments about people "pulling" their money out on AC last night was utter horsesh!t. I don't care WHO you are..........Why the F do you pull money out NOW??

Even if I'm 65 years old, I put on the brakes and hang tight........PERIOD!!

 

[ponyo]

This feels like a good moment for me to start buying. Buying the scary stuff like financial in drag like GE. My buys are smaller than normal because of the risks. Today is the step in the right direction with the vix up in the 30s. Still, much risks remains and I don't want to be a hero.

 

[ponyo]

Maybe I'm being greedy but I'm still mostly in cash. But little less now with the GE buy. But GE buy is still a trade. Not investment yet.

 

[BlahBlahYouToo]

the market is getting its ass kicked today.

 

[ponyo]

Sold the GE position for quick $1/shr gain. Buck is a buck and I would hold longer for an investment if I thought we're at a bottom but I don't think we're quite there yet. We might rally but I think the drop off the cliff capitulation is still waiting. I don't want any unnecessary overnight risk in this environment. We're definitely experiencing history, and I'm very nervous yet super excited. I think those who survive this will have a chance to make lot of money and become rich.

 

[JS80]

THIS IS MADNESS

 

[HopJokey]

Originally posted by: JS80
THIS IS MADNESS

My thoughts exactly.

 

[ponyo]

Originally posted by: JS80
THIS IS MADNESS

No, it's ugly but it hasn't reached madness yet. When we're there, you're going to want to puke and jump out of a window.

I keep having Buffett quotes go through my mind. At the bottom of the bear market in October 1974 a Forbes article interviewed Buffett. Buffett, for the first time in his life, made public prediction about the stock market.

"How do you feel? Forbes asked.
"Like an oversexed guy in a whorehouse. Now is the time to invest and get rich."

If you can survive this crash and are in position to invest when this is all said and over, I think we can feel like that oversexed guy in a whorehouse.

 

[Ricochet]

Originally posted by: Naustica

Originally posted by: JS80
THIS IS MADNESS

No, it's ugly but it hasn't reached madness yet. When we're there, you're going to want to puke and jump out of a window.

I keep having Buffett quotes go through my mind. At the bottom of the bear market in October 1974 a Forbes article interviewed Buffett. Buffett, for the first time in his life, made public prediction about the stock market.

"How do you feel? Forbes asked.
"Like an oversexed guy in a whorehouse. Now is the time to invest and get rich."

If you can survive this crash and are in position to invest when this is all said and over, I think we can feel like that oversexed guy in a whorehouse.

I'm trading to stay afloat. My investment is down only a little, but d@mn my 401k is sh!t. This week has been brutal so far. I'm really waiting for this bottom that you speak of.

 

[ivan2]

I have a feeling that I am done with financials this year... gonna sit on what I got

 

[Boo Boo]

people cant afford to pay mortgages so instead of helping them the govt F's them with a baseball bat and gives all the money to big business.

no wonder the stock market crashes. should never have gone into iraq, no one has the balls to impeach bush

 

[JackBurton]

WTF, Morgan Stanley stock took a beating today because of rumors of a merger with Wachovia. This is just getting beyond crazy.

 

[Pliablemoose]

http://www.kitco.com/charts/livegold.html

Watch gold's history making rise...

 

[flashbacck]

I think the merger rumors came as a result of the price drop, not the other way around.

 

[ivan2]

yeah i doubt wb and ms will come together. tying 2 sinking ships together ain't gonna help.

 

[moparacer]

Wow, I dont know which is worse the ones that were voted out in 2006 or the ones that were voted in.....

http://www.bloomberg.com/apps/...HVyPBMMM9MA&refer=home

THAT WILL BOOST INVESTOR CONFIDENCE LOL........

 

[Ricochet]

Originally posted by: JS80
THIS IS MADNESS

Gawdamn! I don't know what's happening anymore. Today's rollercoaster is just too crazy.

 

[Azurik]

I bought a tiny bit more of GE and RMBS this afternoon.

My KFT position is holding up pretty well. I'm actually up like 14% or so on that, and now it's replacing AIG on the DOW.

 

[ivan2]

alright bonehead move of the year, my $13 stop loss order was trigger on C this afternoon... 30% loss

 

[HopJokey]

Wow the market is crazy right now, down up, down, UP!

 

[AmpedSilence]

what the hell is happening today?????

down 150, then up 400!!!!

 

[Special K]

Originally posted by: AmpedSilence
what the hell is happening today?????

down 150, then up 400!!!!

The dow is up 410 points today! All of the world's financial problems are solved! The bull market is back in full swing!

 

[cHeeZeFacTory]

dam and it's not even friday yet....

 

[ponyo]

It's crazy open. But I'm selling some into this craziness. I sold all my CarMax shares at $20.16 into this! I don't know to laugh or scream. Wow!