***Official*** 2008 Stock Market Thread

[richardycc]

with the panic exit, this thing might drop below $2 tomorrow, any brave ones gonna buy some Monday??

Is Visa IPO still on this month?

 

[sandmanwake]

Originally posted by: richardycc
with the panic exit, this thing might drop below $2 tomorrow, any brave ones gonna buy some Monday??

I am. Buying to cover my short position that is.

 

[imported_Lothar]

Originally posted by: richardycc
with the panic exit, this thing might drop below $2 tomorrow, any brave ones gonna buy some Monday??

Is Visa IPO still on this month?

AFAIK, yes.

*EDIT*
Why would anyone want to buy Bear Sterns tomorrow?

 

[Ricochet]

Originally posted by: sandmanwake

Originally posted by: richardycc
with the panic exit, this thing might drop below $2 tomorrow, any brave ones gonna buy some Monday??

I am. Buying to cover my short position that is.

I'm hoping there are a lot of people like you.

 

[Ricochet]

Originally posted by: Lothar

Originally posted by: richardycc
with the panic exit, this thing might drop below $2 tomorrow, any brave ones gonna buy some Monday??

Is Visa IPO still on this month?

AFAIK, yes.

*EDIT*
Why would anyone want to buy Bear Sterns tomorrow?

A quick trade, not an investment. Like he said the panic exit may cause the price to momentarily dip below $2. Of course, if you're going to buy do so with extreme caution. Set your buy limit. If it doesn't hit that limit, don't even bother.

 

[IHateMyJob2004]

Originally posted by: Lothar

Originally posted by: richardycc
with the panic exit, this thing might drop below $2 tomorrow, any brave ones gonna buy some Monday??

Is Visa IPO still on this month?

AFAIK, yes.

*EDIT*
Why would anyone want to buy Bear Sterns tomorrow?

Special situation. Not that I would but people out there would.

 

[imported_Lothar]

Originally posted by: ricochet

Originally posted by: sandmanwake

Originally posted by: richardycc
with the panic exit, this thing might drop below $2 tomorrow, any brave ones gonna buy some Monday??

I am. Buying to cover my short position that is.

I'm hoping there are a lot of people like you.

It's normal for people on this forum to say they were shorting (or going long) in this or that stock after a major event happens.
I wouldn't take anyone's word for it unless they posted it before the major event happened.

If Berkshire got bought for $2/share tomorrow, you'll still have a forum member claiming he was shorting Berkshire.

 

[IHateMyJob2004]

Originally posted by: LegendKiller
Imagine the guy who owned 10% of bear. That was worth 2bn in 1/07. Now it's worth 23M. Now that deserves a "shit!".

Fed cut rates 25bps also. They are trying to head off a panic tomorrow.

Yup, 25bps cut effective Monday and is it Tuesday or Wednesday that the fed meets next?

And remember, the best thing about a recession is that they end.

 

[IHateMyJob2004]

And everyone, enjoy tomorrow:
http://money.cnn.com/data/premarket/

 

[imported_Lothar]

Originally posted by: ricochet

Originally posted by: Lothar

Originally posted by: richardycc
with the panic exit, this thing might drop below $2 tomorrow, any brave ones gonna buy some Monday??

Is Visa IPO still on this month?

AFAIK, yes.

*EDIT*
Why would anyone want to buy Bear Sterns tomorrow?

A quick trade, not an investment. Like he said the panic exit may cause the price to momentarily dip below $2. Of course, if you're going to buy do so with extreme caution. Set your buy limit. If it doesn't hit that limit, don't even bother.

Well then, since I don't do "quick" trades or day trades I guess it's something I'll never understand.

I'll rather spend the $2 investment on a pack of M&M's.

 

[ponyo]

Originally posted by: IHateMyJob2004

Originally posted by: LegendKiller
Imagine the guy who owned 10% of bear. That was worth 2bn in 1/07. Now it's worth 23M. Now that deserves a "shit!".

Fed cut rates 25bps also. They are trying to head off a panic tomorrow.

Yup, 25bps cut effective Monday and is it Tuesday or Wednesday that the fed meets next?

And remember, the best thing about a recession is that they end.

Goldman Tuesday. Fed is also Tuesday.

Couple big banks and investment firms have to fail for us to reach a bottom but it's damn scary seeing it in action. I have to believe Lehman will fail as well. This news makes Citibank too toxic to touch as well. Citibank is probably too big to fail but they're going to have to write down lot more now. I'm reading $50 billion more. Everyone has to. This stuff is scaring the crap out of me now.

 

[Miramonti]

Where are people getting $2 for bear sterns stock?

 

[Azurik]

The market certainly got interesting this year. Lucky I was 40% in Pimco Bonds - Investors Class in January. I'm at 50% now... I think this is my biggest holding ever.

 

[ponyo]

Originally posted by: jjsole
Where are people getting $2 for bear sterns stock?

All the news headlines are reporting $2/shr price. Are they wrong?

 

[Miramonti]

Originally posted by: Naustica

Originally posted by: jjsole
Where are people getting $2 for bear sterns stock?

All the news headlines are reporting $2/shr price. Are they wrong?

Holy crap. I thought they were going to be bought for $2 billion! :Q .

This is the most unbelievable sh!t I've ever seen...a $60 stock going to $2 in 2 days!

 

[imported_Lothar]

Originally posted by: Naustica

Originally posted by: jjsole
Where are people getting $2 for bear sterns stock?

All the news headlines are reporting $2/shr price. Are they wrong?

I have a higher chance of winning the lottery than that happening.
I doubt they missed a "0" at the end of the $2 while typing the press release.

I doubt they're wrong, but that could be a possibility.
Like I said, I'd rather spend a $2 investment on a pack of M&M's than BSC regardless of what happens tomorrow

 

[ponyo]

Originally posted by: jjsole

Originally posted by: Naustica

Originally posted by: jjsole
Where are people getting $2 for bear sterns stock?

All the news headlines are reporting $2/shr price. Are they wrong?

Holy crap. I thought they were going to be bought for $2 billion! :Q .

This is the most unbelievable sh!t I've ever seen...a $60 stock going to $2 in 2 days!

It's the craziest and the scariest thing I've seen as well. Enron and Worldcom and stuff like that didn't bother me because it was out right fraud. This stuff? It shakes me at the core because I know now that stuff I've been reading about is coming true and we still have ways to go.

Bastards that bought March 25 puts for a nickel are going to make like 450 times their money in two days. I knew I should followed my instincts and bought with them. You can't tell me these bastards didn't know firsthand.

 

[Pocatello]

The horror movies aren't as scary as watching CNBC or any business news channel. The sh!t is going to hit the fan.

 

[her209]

Originally posted by: IHateMyJob2004
And everyone, enjoy tomorrow:
http://money.cnn.com/data/premarket/

Ouch!

 

[mfs378]

So lets say you have $40k to invest right now. What would you do with it?

 

[imported_Lothar]

Originally posted by: mfs378
So lets say you have $40k to invest right now. What would you do with it?

Hookers.

 

[BarneyFife]

Originally posted by: mfs378
So lets say you have $40k to invest right now. What would you do with it?

Safest spot would be under a matress.

 

[imported_Lothar]

Originally posted by: BarneyFife

Originally posted by: mfs378
So lets say you have $40k to invest right now. What would you do with it?

Safest spot would be under a matress.

Inflation would eat through that.

 

[mrCide]

Guns..

 

[imported_Lothar]

Originally posted by: Azurik
The market certainly got interesting this year. Lucky I was 40% in Pimco Bonds - Investors Class in January. I'm at 50% now... I think this is my biggest holding ever.

Luckily I'm 30% in VIPSX.

I don't plan on increasing the VIPSX holding for now. I also don't have to worry about inflation either.

Still sitting on the large cash position from the sale of PRLAX(I'm completely out from EE)