***Official*** 2008 Stock Market Thread

[Ballatician]

Originally posted by: AUMM

Originally posted by: Ballatician
I'm tempted by Frontier Oil Corp. (FTO) at <$20.

I'm down quite a bit in FTO and VLO.... how long do you guys think these will take to bounce back? Good time to pick up some more?

I'm down quite a bit on FTO too. It's tempting to pick up some more but I'm going to wait a while longer.

 

[ivan2]

cha-ching!!!

 

[IHateMyJob2004]

bank of America is making some stupid decisions, like buying Merril. I should have sold i nthe $30s when I was pondering doing so.

Oh well.

After this mess is over, I expect 5 banks to have 50% of all checking acounts. WFC, BAC and a handful of others. I'm hoping USB does a merger of equals.

 

[ponyo]

Originally posted by: IHateMyJob2004
bank of America is making some stupid decisions, like buying Merril. I should have sold i nthe $30s when I was pondering doing so.

Oh well.

After this mess is over, I expect 5 banks to have 50% of all checking acounts. WFC, BAC and a handful of others. I'm hoping USB does a merger of equals.

After this mess is all over, all the remaining banks might be nationalized. :Q

 

[JS80]

Originally posted by: IHateMyJob2004
bank of America is making some stupid decisions, like buying Merril. I should have sold i nthe $30s when I was pondering doing so.

Oh well.

After this mess is over, I expect 5 banks to have 50% of all checking acounts. WFC, BAC and a handful of others. I'm hoping USB does a merger of equals.

imagine when the Countrywide and Merrill MBS come home to roost in 2009.

 

[imported_Lothar]

Originally posted by: JS80

Originally posted by: IHateMyJob2004
bank of America is making some stupid decisions, like buying Merril. I should have sold i nthe $30s when I was pondering doing so.

Oh well.

After this mess is over, I expect 5 banks to have 50% of all checking acounts. WFC, BAC and a handful of others. I'm hoping USB does a merger of equals.

imagine when the Countrywide and Merrill MBS come home to roost in 2009.

Yup.
I didn't enter head first into BAC because I was never able to analyze them after the contrywide deal.
Merrill makes it even more complex than it already is.

Without Countrywide and Merrill, BAC at $30/share would be a bargain for me to pick up.

 

[ponyo]

I guess price discovery continues. Hedgefund redemption selling at 3:30 everyday reminds me of the days of Long Term Capital blowup. This is by far the most frustrating and difficult market I've seen and traded. Sigh.

 

[ponyo]

Originally posted by: Naustica

Originally posted by: IHateMyJob2004
bank of America is making some stupid decisions, like buying Merril. I should have sold i nthe $30s when I was pondering doing so.

Oh well.

After this mess is over, I expect 5 banks to have 50% of all checking acounts. WFC, BAC and a handful of others. I'm hoping USB does a merger of equals.

After this mess is all over, all the remaining banks might be nationalized. :Q

Nationalization of US banks?

 

[Mark R]

Hmm. Dow drops below 9000.

Ouch. That last 1000 came of quick.

 

[Slew Foot]

Now its getting ugly.

 

[aldamon]

Originally posted by: Slew Foot
Now its getting ugly.

Only now?

 

[JS80]

Originally posted by: Naustica
I guess price discovery continues. Hedgefund redemption selling at 3:30 everyday reminds me of the days of Long Term Capital blowup. This is by far the most frustrating and difficult market I've seen and traded. Sigh.

plus we are sailing blind. we have no idea what earnings will be like and what kind of forecasts will be issued. i predict a small rebound on strong Q3 earnings then back to selling after corps issue weak forecast (or issue none at all).

 

[ponyo]

Originally posted by: Naustica
News media is saying the market is scared about the bailout bill not passing. I don't buy that. I think the market already figures the bailout bill will pass. It's what comes after that worries it. They say history doesn't repeat, but rather often rhymes. If you look back at the chart of the 1929 crash, you'll see Durant, Whitney, and Rockefeller bought large chunks of stocks like US Steel to show support and try to save the market. There was small pop initially but much larger decline happened after. Is Mr. Buffett with his Goldman buy = Rockefeller and his US Steel buy? Also, Pakistan banned short selling earlier this year thinking that was the cause of the fall in stock prices. Pakistan market declined sharply after the ban. I'm not saying any of this is the same but it's interesting.

I hope I'm wrong in my scary thought and the bailout bill marks the bottom and we never go lower. But I've a sneaky feeling we might see the rhyme.

It's playing out almost exactly the same as 1929 crash and Pakistan crash after the ban on short selling earlier this year. It's crazy scary how similar all three charts look. We need to see someone jumping out of Wall St. building to end this thing. Who's going to volunteer?

 

[JS80]

Originally posted by: Naustica

Originally posted by: Naustica
News media is saying the market is scared about the bailout bill not passing. I don't buy that. I think the market already figures the bailout bill will pass. It's what comes after that worries it. They say history doesn't repeat, but rather often rhymes. If you look back at the chart of the 1929 crash, you'll see Durant, Whitney, and Rockefeller bought large chunks of stocks like US Steel to show support and try to save the market. There was small pop initially but much larger decline happened after. Is Mr. Buffett with his Goldman buy = Rockefeller and his US Steel buy? Also, Pakistan banned short selling earlier this year thinking that was the cause of the fall in stock prices. Pakistan market declined sharply after the ban. I'm not saying any of this is the same but it's interesting.

I hope I'm wrong in my scary thought and the bailout bill marks the bottom and we never go lower. But I've a sneaky feeling we might see the rhyme.

It's playing out almost exactly the same as 1929 crash and Pakistan crash after the ban on short selling earlier this year. It's crazy scary how similar all three charts look. We need to see someone jumping out of Wall St. building to end this thing. Who's going to volunteer?

better idea, line up bank execs (with Fuld at the front) on the ledge of a highrise and the highest bidder gets to push them off.

 

[jpeyton]

DOW:

When Bush took office - 10,587.59
Today (as of this post) - 8,925.49

LAWL

 

[JS80]

Originally posted by: jpeyton
DOW:

When Bush took office - 10,587.59
Today (as of this post) - 8,925.49

LAWL

If Gore had taken office or if Kerry had won - 7,000.00
Ron Paul - 000.00 stock market would be illegal

See, this is a pointless game.

 

[Engineer]

Originally posted by: JS80

Originally posted by: jpeyton
DOW:

When Bush took office - 10,587.59
Today (as of this post) - 8,925.49

LAWL

If Gore had taken office or if Kerry had won - 7,000.00
Ron Paul - 000.00 stock market would be illegal

See, this is a pointless game.

You're making shit up. His numbers are fucking real.

 

[Casawi]

Originally posted by: jpeyton
DOW:

When Bush took office - 10,587.59
Today (as of this post) - 8,925.49

LAWL

Means nothing although I hate the guy.

 

[Anubis]

Originally posted by: jpeyton
DOW:

When Bush took office - 10,587.59
Today (as of this post) - 8,925.49

LAWL

yes because obviously a dem in the office would have prevented stupid people from taking out loans they couldent afford

 

[her209]

This is insane. DJIA under 9000.

:Q

 

[aldamon]

8684. Jeebus.

 

[Ns1]

holy shit in the blink of an eye -300 -> -600

 

[redgtxdi]

So can we officially call this a "crash"???

 

[HopJokey]

Originally posted by: redgtxdi
So can we officially call this a "crash"???

On the bright side I think gas will be a little cheaper now.

 

[Ricochet]

PANIC! PANIC! SELL! SELL!