***Official*** 2011 Stock Market Thread

[hiromizu]

I'm a buyer.

 

[Acanthus]

lol austerity will fix things

 

[Imp]

Tempted to buy, but it's Saturday in Europe already. Gubment initiated yesterday's sell-off apparently, so I'm wary as to what gubment will do Monday.

 

[Aharami]

Gubment initiated yesterday's sell-off apparently, so I'm wary as to what gubment will do Monday.

where are you getting this from?

 

[dullard]

lol austerity will fix things

Hey, it worked quite well in the late 1930s!

 

[Imp]

where are you getting this from?

News and commentators: some European banking committee or whatnot were trying to throw money somewhere yesterday. It made it look like Europe (now with Italy and Spain's troubles getting worse) was in a lot more trouble than people thought, hence the panic sell off.

Japan also threw money somewhere.

 

[Imp]

Here comes the 3pm profit taking...

 

[JMapleton]

Who cares if it fixes the problem or not?
QE1 earned me money, QE2 earned me money, and QE3 will probably earn me money as well if it is ever implemented.

I'll gladly take the free money Ben Bernanke is throwing around.
QE1 and QE2's main effect shifted people from safer assets like cash/treasuries to riskier assets such stocks.
If I kept prodding my feet saying that "it doesn't solve the problem" while staying in cash or hiding money under my mattress, I wouldn't have earned money from ACF and AXP 2 years ago, and the energy companies I invested in last year.

Good thinking, because it earned you money, but screwed 90% of the American population by increasing the cost of living and put our debt in danger of higher interest rates which would strain the tax payer, we should do it....because it made you money.

You will come out short in the long run because of QE because it only harms the US economy. Keynesian does not work.

 

[SunnyD]

Here comes the 3pm profit taking...

Watch, it'll close pretty much flat. Then come monday morning it will open down 150 points.

 

[Imp]

Watch, it'll close pretty much flat. Then come monday morning it will open down 150 points.

Close up 60 points. The stuff I sold yesterday went down 2.2%, 4% and 1%. The 4% one comprised 1/3 of my portfolio, so feeling better about liquidating yesterday. Come on Monday...

 

[SunnyD]

Close up 60 points. The stuff I sold yesterday went down 2.2%, 4% and 1%. The 4% one comprised 1/3 of my portfolio, so feeling better about liquidating yesterday. Come on Monday...

Better than I expected. Still, expecting a general downward trend for the next 6 months at minimum. I'm watching BAC with glee right now... I may be buying for the long haul here soon. Trying to atone for the mistake of not picking up C in the last round...

 

[FelixDeCat]

Hey, it worked quite well in the late 1930s!

The last decade of easy money hasnt helped anything. It created a speculative housing bubble at its worst got us in debt to our eyeballs.

Its time to pay the piper and reduce government spending to no more than what we bring in. Period.

 

[Noirish]

US lost AAA credit rating from S&P, Monday will be interesting...

 

[Imp]

US lost AAA credit rating from S&P, Monday will be interesting...

Just about to post this...

So, very curious how this affects things. Not exactly much other choice around the world.

 

[TXHokie]

So how will this affect Joe Schmoe like me beside another beating on my 401k?

 

[bonkers325]

http://online.wsj.com/article/SB10001424053111903366504576490841235575386.html

S&P miscalculated debt by $2 trillion. Monday will be interesting.

 

[Imp]

So what can we expect Monday?

Apparently higher interest rates on the way, so higher borrowing costs, higher everything, so even more gimped economy.

Would the US$ tank or go up considering how shitty everyone else in the West is?

 

[paulney]

I'm in the long haul, and yesterday's break was something I was looking for. Pumped 10G into indexes. By all indicators, including GDP and others, S&P is substantiated to 1450 levels or so. At present levels it's over-corrected, but at the start of the week there wasn't much room to grow towards the end of the year. So I was looking for a market weakness, and here it is.

I believe, indexes will rectify themselves towards the end of the month.

 

[Imp]

I'm in the long haul, and yesterday's break was something I was looking for. Pumped 10G into indexes. By all indicators, including GDP and others, S&P is substantiated to 1450 levels or so. At present levels it's over-corrected, but at the start of the week there wasn't much room to grow towards the end of the year. So I was looking for a market weakness, and here it is.

I believe, indexes will rectify themselves towards the end of the month.

But if you waited till next week, you'd probably have made 10+% more.

 

[FelixDeCat]

So far it looks like a 200 point drop at the open Monday. D:

 

[manlymatt83]

So far it looks like a 200 point drop at the open Monday. D:

Futures were showing down 260 points an hour ago. Can't trust futures.

 

[rcpratt]

When do the Asian markets open? That will be interesting.

Oh, apparently they just did. Nikkei down 1.4%, not too bad.

 

[manly]

I'm in the long haul, and yesterday's break was something I was looking for. Pumped 10G into indexes. By all indicators, including GDP and others, S&P is substantiated to 1450 levels or so. At present levels it's over-corrected, but at the start of the week there wasn't much room to grow towards the end of the year. So I was looking for a market weakness, and here it is.

I believe, indexes will rectify themselves towards the end of the month.

Not everyone agrees.

 

[Pliablemoose]

We're going sideways/down for a looooonnnggg time.....

 

[manly]

We're going sideways/down for a looooonnnggg time.....

curious, holding AAPL?