Somebody call the cops - the market is getting the sh*t beaten out of it!

[StageLeft]

Grr.

 

[guyver01]

The dow is only down 238.93

 

[StageLeft]

Thats bad!! I was hoping that monday would be it

 

[TripleJ]

Ah well, more room for impovement is what I say!

 

[bigrash]

wait....let me call....what's the number again?

 

[Akaz1976]

i bought BCE (on TSE) at 33.20 today (was already down today 4.5%) and its gone even lower (over 5% down) to 32.80.

All markets are getting there ass handed to them. I see good values around but i worry that it will go lower even more as soon as i invest.

Akaz

 

[Russ]

It's bargainville now, but it's going to be bargain basement before the dust settles.

Russ, NCNE

 

[Adul]

It should hit a low point soon. Maybe thursday wil be a good day to start buying.

 

[StageLeft]

It's bargainville now, but it's going to be bargain basement before the dust settles.

Yep. I surely wish I had some cash lying around to buy shares.

 

[FelixDeCat]

I thought I would catch some FFIV today @ 12.999. DOH! Stop loss at 10.00 - panic selling!

Check this out

 

[Tominator]

Russ nailed the situation! Now is the time to invest every penny you can lay your hands on. Even if we see another nose dive, in a couple of years you will be 'laughing all the way to the bank.'

In less than a year we'll see it above 10,000 again. Just watch.

 

[StageLeft]

In less than a year we'll see it above 10,000 again. Just watch.

I'd be surprised if it doesn't hit at least that.

Some guy on TV said that those who bought on monday in a year's time will be very pleased and those who sold will be kicking themselves.

 

[KDOG]

man, I don't have enough spare cash... you have to have at least $1,000 to open an account right?

 

[Schlocemus]

What's the cutoff point again?

Isn't it something like once it goes down 11% the maket closes and all banks suspend trading?

 

[Michael]

There is no one who knows what will happen in the market in the short term. I think that downward pressure, which was already coming from the US and World Economy will continue. I am continuing my normal investing habits, but I'm not rushing cash into the market.

I think that Russ meant that stocks are a bargain now but will be a bigger bargain to come.

On a historical level, valuations are still high when compared to expected earnings.

Michael

 

[Orbius]

Bargain? Who knows. In a market that went up so high for so long, some could argue that some dominos are yet to fall.
All the advice I can offer is that I wouldn't recommend my grandmother to invest because theres so much risk.
But if I was young and had some money to gamble, I would invest some, if you're aware and smart, you can make a killing, though things are dangerous!

 

[thebestMAX]

I BOUGHT today and will continue to do so if I can raise any more cash and I am WAY down in the market.



2 things - Jewish holidays over this evening and triple witch on Friday. Both usually positives in the past.

 

[Akaz1976]

<< Some guy on TV said that those who bought on monday in a year's time will be very pleased and those who sold will be kicking themselves. >>



That unfortuantely was treasury secretary (he is suppose to say that). He also said that we are not in a recession nor will we be inrecession. unfortunately most of the economist say that we are already in a recession (2Q will be revised downwards to -ve and Q3 is -ve and 4Q will be -ve) with recovery next year!

Akaz

 

[mithrandir2001]

In looking for a silver lining in all this, I see some nice tax savings. I am ready to convert my traditional IRA to a Roth and every day the value goes down, lowering the tax bill I will face on the conversion.

 

[Russ]

<< I think that Russ meant that stocks are a bargain now but will be a bigger bargain to come. >>



That is exactly what I meant. I'd also point out that even when the stock market does finally bottom (and, NOBODY can predict when that is), the REAL bargains will not be the companies that the herd is buying.

With the exception of one "flyer" stock, I've been all cash since July 2000 and, at least for the short term, that is not going to change.

Russ, NCNE

 

[Viper GTS]

So I'm correct in thinking now'd be the time to start saving like mad for the point where it does bottom out?

Then dump everything in & hang on for the ride?

Viper GTS

 

[glen]

I think now is a good time to buy

AMD and

NVDA and

TSM

for the long term.

 

[Michael]

Viper GTS - No one will know when it bottoms out until it has risen and stayed up. My advice is to save as you usually save. Since I put the limit into my 401(k) every year and it is spread out into 24 payments (I'm paid twice a month), I have a regular investment scheme. I am continuing it. I also save $300 a month for my daughter's college education (I use DRIPs for that - can't use a Ross IRA as the family income is too high) and I'm still buying stocks.

Trying to guess the bottom is almost impossible.

Throwing money into the market to be "patriotic" will not stop it from falling to the level where valuations make sense (with an adjustment for mob psycology tossed in, especially in the short term).

Michael