The market swan dive...

[SSSnail]

Dow 13,028.92 Down 207.61 (1.57%)
Nasdaq 2,499.12 Down 43.12 (1.70%)
S&P 500 1,426.54 Down 26.38 (1.82%)
10-Yr Bond 4.7320% Down 0.0460



Continues today 08/15

Dow 12,861.47 Down 167.45 (1.29%)
Nasdaq 2,458.83 Down 40.29 (1.61%)
S&P 500 1,406.70 Down 19.84 (1.39%)

 

[FoBoT]

buy! buy! buy!

 

[ViviTheMage]

haha this is why I don't play in the market

 

[Ricochet]

Originally posted by: FoBoT
buy! buy! buy!

I wouldn't just yet, but keep a close eye. Of all those mortgage lenders that have taken a beating, some are bound to survive and will thrive again in a few years.

 

[KB]

Oh noess!! Load up on guns, prepare for the apocalypse!

I agree with FoBot. This is a good time to buy. People are jumping on the bandwagon and selling.

 

[DaveSimmons]

It's a correction not a meltdown. It is a good time to buy stock index mutual funds, at least if you're investing long-term. You might not catch the market bottom, but it's already a nice discount off of the July peak.

 

[FoBoT]

seriously, i dollar cost average through my 401(k) , so when my mid-month paycheck contribution goes to market about friday or monday, it takes a couple days after payday, then i'll get more shares than I did last payday

buy and hold. long term FTW

 

[Dunbar]

If it punches through resistance of 13,000 then we could be going down a lot lower. I have had most of my 401k in cash for quite some time and I need to get back in.

 

[AnthroAndStargate]

I know this is too complex of a question to probably get an answer from but I am a 22 year old college student who has about 1,000 that I want to invest.

Would investing it via e-trade into the market be a good idea since everything is tankign right now? Obviously stuff will climb back up - that or the American economy fails, in which case I'll have bigger problems to worry about then 1k...

any tips on sites that give advice on where to start if now is a good time to invest?

 

[Cattlegod]

dude, this is nuts. about a month ago I almost dropped $20k into stocks. jesus I'm glad I didn't

 

[Ryan]

Originally posted by: AnthroAndStargate
I know this is too complex of a question to probably get an answer from but I am a 22 year old college student who has about 1,000 that I want to invest.

Would investing it via e-trade into the market be a good idea since everything is tankign right now? Obviously stuff will climb back up - that or the American economy fails, in which case I'll have bigger problems to worry about then 1k...

any tips on sites that give advice on where to start if now is a good time to invest?

I'm in the same position (well - 22 year old college student with 1K in my 401K).

Here's what I've been doing: Look at averages - put you money in areas that historically perform well. Diversification is also important - personally, I split up my 401K so that it's distributed into 5 different funds, from world market to high, medium, and low risk funds. The market as a whole isn't tanking, or doing as badly as everyone likes to make it sound. Invest for the long term, and keep on contributing no matter how the market is performing - 20-30 years from now, this will be but a small blip in your memory as you're cashing out

 

[FoBoT]

with $1000, i would recommend a mutual fund that reflects the broad market, many of the vanguard funds have a $3000 minimum initial investment , but this is an example of one that you can start with $1000

https://flagship.vanguard.com/...Id=0056&FundIntExt=INT

 

[DaveSimmons]

> "I know this is too complex of a question to probably get an answer from but I am a 22 year old college student who has about 1,000 that I want to invest. "

When do you plan to spend the money?

If it's it money you might need for emergencies, the best choice is a high interest savings account at someplace like ING Direct (www.ingdirect.com).

If it's for a house in 5+ years, a Scottrade or another deep discount brokerage account and an ETF (exchange traded fund) like a "spider" / SPDR (S&P 500 index) makes sense for $1,000.

For retirement, a Roth IRA at Vanguard.com makes sense but you need more than $1,000. You could park the money at ING / etc. until you have more.

 

[SSSnail]

Heh, just a touch on the high interest savings, WAMU is actually offering 5% on their no minimum deposits account.

 

[Vic]

A long overdue correction. And the 10 year bond is UP. A decrease in yield represents an increase in price.

 

[OS]

Originally posted by: AnthroAndStargate
I know this is too complex of a question to probably get an answer from but I am a 22 year old college student who has about 1,000 that I want to invest.

Would investing it via e-trade into the market be a good idea since everything is tankign right now? Obviously stuff will climb back up - that or the American economy fails, in which case I'll have bigger problems to worry about then 1k...

any tips on sites that give advice on where to start if now is a good time to invest?

if that's all you have, i would just put the money in a high interest savings like emigrant, particularly as a student.

 

[JS80]

Originally posted by: OS

Originally posted by: AnthroAndStargate
I know this is too complex of a question to probably get an answer from but I am a 22 year old college student who has about 1,000 that I want to invest.

Would investing it via e-trade into the market be a good idea since everything is tankign right now? Obviously stuff will climb back up - that or the American economy fails, in which case I'll have bigger problems to worry about then 1k...

any tips on sites that give advice on where to start if now is a good time to invest?

if that's all you have, i would just put the money in a high interest savings like emigrant, particularly as a student.

no, that's what you're supposed to do when you are old. you're supposed to make high risk investments while young and have no financial obligations.

 

[Ns1]

the market will be up again in 2 years

 

[JS80]

Originally posted by: SSSnail
Heh, just a touch on the high interest savings, WAMU is actually offering 5% on their no minimum deposits account.

my friend who's a quant analyst for a hedge fund that does ABS/MBS predicts wamu will go bankrupt (he predicted last month TMA's portfolio is worthless and I laughed at him).

 

[OS]

Originally posted by: JS80

Originally posted by: OS

Originally posted by: AnthroAndStargate
I know this is too complex of a question to probably get an answer from but I am a 22 year old college student who has about 1,000 that I want to invest.

Would investing it via e-trade into the market be a good idea since everything is tankign right now? Obviously stuff will climb back up - that or the American economy fails, in which case I'll have bigger problems to worry about then 1k...

any tips on sites that give advice on where to start if now is a good time to invest?

if that's all you have, i would just put the money in a high interest savings like emigrant, particularly as a student.

no, that's what you're supposed to do when you are old. you're supposed to make high risk investments while young and have no financial obligations.

maybe if he was working, but alot of college students don't have incomes, if that's all he has and he loses most of it, college student wages are low if at all, so good luck trying to dig yourself out of that hole.

 

[JS80]

Originally posted by: OS

Originally posted by: JS80

Originally posted by: OS

Originally posted by: AnthroAndStargate
I know this is too complex of a question to probably get an answer from but I am a 22 year old college student who has about 1,000 that I want to invest.

Would investing it via e-trade into the market be a good idea since everything is tankign right now? Obviously stuff will climb back up - that or the American economy fails, in which case I'll have bigger problems to worry about then 1k...

any tips on sites that give advice on where to start if now is a good time to invest?

if that's all you have, i would just put the money in a high interest savings like emigrant, particularly as a student.

no, that's what you're supposed to do when you are old. you're supposed to make high risk investments while young and have no financial obligations.

maybe if he was working, but alot of college students don't have incomes, if that's all he has and he loses most of it, college student wages are low if at all, so good luck trying to dig yourself out of that hole.

he made it sound like risk capital...but not even the point. my point was more philosophical than not.

 

[SSSnail]

Originally posted by: JS80

Originally posted by: SSSnail
Heh, just a touch on the high interest savings, WAMU is actually offering 5% on their no minimum deposits account.

my friend who's a quant analyst for a hedge fund that does ABS/MBS predicts wamu will go bankrupt (he predicted last month TMA's portfolio is worthless and I laughed at him).

Mortgage at this point in time is completely predictable. What indications do your friend have on making that assertion?

 

[Miramonti]

The market isn't tanking yet, but could soon.

When a forest grows too wild, a purging fire is inevitable and natural.

- Roz Algul, Batman Begins

 

[maddogchen]

Originally posted by: JS80

Originally posted by: SSSnail
Heh, just a touch on the high interest savings, WAMU is actually offering 5% on their no minimum deposits account.

my friend who's a quant analyst for a hedge fund that does ABS/MBS predicts wamu will go bankrupt (he predicted last month TMA's portfolio is worthless and I laughed at him).

isn't WAMU's high interest savings FDIC insured? So even if it goes bankrupt your money will be protected?

 

[Jeff7]

I liken the economy to a motor, where money acts as electrons to power the spinning shaft which produces work. Unfortunately, it needs a tune up, or some kind of control circuitry - it always seems to surge ahead when there is a perceived excess of money, but then it depletes the supply right away and momentarily seizes up. Too much growth, too quickly, and then comes the correction. Slow & steady.