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| Name: |
Maddog
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| Subject: |
DOW Closing
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Date:
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10/13/2008 4:02:51 PM
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The DOW just closed at 962.07. It could go higher with after market closing sales.
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| Name: |
water_watcher
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| Subject: |
DOW Closing
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Date:
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10/13/2008 4:23:10 PM
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11% rise .... it is about time.
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| Name: |
water_watcher
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| Subject: |
2 years ago vs Now
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Date:
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10/13/2008 4:36:41 PM
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We only need 4 or 5 more days like today and we will be back to where the stock market was before the democrats took over congress.
You know, we had 6 good years of economic growth even after 9/11. Then the liberal dems took over congress and we got rising unemployment, $4 gas, the sub prime market busted that was expanded under the Clinton administration, housing prices declined and the stock market started to tumble. Coincident? I don't think so. Congress makes the laws and policy ... all was fine when it was the republicans in charge.
Then we were graced with the brillant minds of Nancy Pelosi, Maxine Waters, Barney Frank, Harry Reid, Barbara Boxer ... and look at what we have.
Now you have to admit, those names are some real role models of leadership.
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| Name: |
Mack
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| Subject: |
But tomorrow
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Date:
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10/13/2008 5:02:19 PM
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it is just as likely to lose 900 points if the last 5 months are any indication
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| Name: |
MartiniMan
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| Subject: |
Hopefully the panic is over
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Date:
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10/13/2008 10:48:48 PM
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This precipitous drop was based on pure emotion and not the real fundamentals of the markets. What I find interesting is that historically these big corrections amount to 30%-40% and I believe at its peak low the drop was around 40% +/-. Those people that panicked are going to lose their shirts and those that didn't will clearly benefit. And those that have lots of cash are going to make an absolute killing and should. I read a quote that said someone who doesn't sell in the midst of a panic is called an investor.
I am hopeful that we will continue to recover although I think the markets will be very volatile for some time until all the sub-prime mess created by Fannie and Freddie works its way out of the system. In the meantime I think we can expect a slowdown in the economy and lots of bad news interspersed with good news (lower oil prices, decent profitability, etc.).
The best thing those of us that are not looking to live off our IRA's and 401k's in the very near future can do is to hang tough. It will recover and the markets historically go up 7% over the long haul. If you have cash now is the time to buy some great stocks trading at record low PE's.
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| Name: |
old blue chair
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| Subject: |
Hopefully the panic is over
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Date:
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10/14/2008 8:36:09 AM
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you have an e-mail
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| Name: |
Mack
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| Subject: |
Hopefully the panic is over
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Date:
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10/14/2008 7:30:17 PM
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Very, VERY HARD for some of us who DID HAVE our RETIREMENT funds in equities to watch them fall 40% over the last year!!! Also, very, very hard not to bail out during the fall. I did, and I'm really glad that I did. I got out 1Q2008 and avoided a 30% hit.
And, I will not get back in until I see some hard numbers (not those from either McCain or Obama) from the ACTUAL MARKET that PROVE that the economy is coming back. Not a 900 point swing one day and a 400 point negative swing the next day.
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| Name: |
MartiniMan
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| Subject: |
Hopefully the panic is over
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Date:
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10/14/2008 9:51:13 PM
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Mack, just curious how close you are to retirement and actually needing those funds. Its great news that you got out when you did but if you are still working you can't afford to be out of equities because nothing else grows enough in value. If I had made your move I would be seriously thinking about getting back in with a portion of the cash. Even if it falls a bit more it will not stay down forever. I say that not knowing if you need the money anytime soon. Anyway, congrats on your move when you did.....if only I had that going for me in golf!
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| Name: |
Mack
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| Subject: |
Hopefully the panic is over
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Date:
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10/15/2008 9:05:42 AM
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Wife and I retired 6 years ago at the same time.
I went 100% Money Market early. Earning now a whopping 3% annual, which after inflations means I am backing up, but more slowly. At least the funds as of 9/19/08 are guaranteed for now. I really feel for workers with equity-based 401K's if they cannot make some sort of move.
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