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Holy smokes stock drop 5000 points since Jan

Discussion in 'Uncategorized Threads' started by smsnyder, Oct 9, 2008.

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  1. smsnyder

    smsnyder Well-Known Member

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    There goes our retirement. So much for IRA's, Roth.
     
  2. jimx200

    jimx200 Member

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    Good news is that this is one hell of a buying opportunity. Problem was today is the first day the short sellers were allowed back in....that and the Feds are clueless about what they are doing. Everyone is covering everyone's ass in the bailout charade.
     
  3. Dahaub

    Dahaub Active Member

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    I heard on the tube today that they were trying to stop the panic. They must have tried to stop the panic by waving a red flag at the bull. I really do hope this panic selling will stop and some order will come back in the market. When the bottom hits somebody tell me will ya? I need the direction so I'll know when to by in again. Dan
     
  4. BMC

    BMC Member

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    769
    I've been checking my IRA every day and thankfully it hasn't dropped. I actually made a few bucks this week according to the account data. Makes me glad I chose a not-so-risky portfolio. Hopefully no surprises on the horizon.
     
  5. Brian in Oregon

    Brian in Oregon Well-Known Member

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    Location:
    Deplorable Bitter Clinger in Liberal La La Land
    I pulled all mine out of the stock market months ago.
     
  6. stokinpls

    stokinpls Well-Known Member

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    Wouldn't you sell out too if you realized a socialist form of government was on the way and you've been a capitalist your whole life? The market's just reacting to the expected new administration. Prove me wrong.

    Just heard the Japs had to halt the Nikkei to keep it form tanking. These are the people who were going to own us (besides Hawaii).
     
  7. smsnyder

    smsnyder Well-Known Member

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    I feel bad for the boomers who have retirement IRA's.
     
  8. nipper

    nipper TS Member

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    just as repukeblician bush said its only a market correction remember. dont blame me i didnt vote for him

    bill
     
  9. bigdogtx

    bigdogtx Well-Known Member

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    10,650
    bill,

    hate to tell you bush had NOTHING to do with this. the majority of the losses are from people who have been listening to hussein talking about how BAD it is. if you keep telling a lie long enough; people start believing it....
     
  10. BMC

    BMC Member

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    bigdog there might be something to what you said.
    I was thinking about it today. Last weekend we had our largest turnout for our club shoot. Business at my work has picked up A LOT after a very poor summer. Our sales have nearly doubled what they were over the summer months. The boss even gave us a modest bonus this week because things picked up so well. Every day when I get home my message machine is filled with messages from lending institutions with various offers. Nearly every day I get credit card offers in the mail, etc. Gas prices aren't as choking as they were a few months ago. As of today in looking at my IRA it shows I made a few bucks so far this month. I'm starting to wonder how much of what we see in the media is an accurate portrayal of what is really happening. I'm sure a lot of it is legit to one degree or another, but when I look around me and discuss "life" with friends and co-workers, nothing has really changed like we are reading it supposedly has. Of course I haven't tried to buy a house or a car in the past few months.
     
  11. phirel

    phirel TS Member

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    The market is down. That offers some opportunities to buy bargains. With the decline in the market, the price of many products is also down and that should give us a little more free cash to invest in the bargains. The oil speculators seem to have lost the most money lately. The price of gasoline has dropped nearly eighty cents per gallon in my local area.

    Pat Ireland
     
  12. grnberetcj

    grnberetcj Active Member

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    5,680
    Just wait it out guys/gals....it's (the DJIA, etc.) gonna hit around 7500 - 8000 soon and there will be some great buys for the the retirement programs. Once the "scared money" is gone, then it'll be time to buy low and let the retirement programs gain....may take a couple of years to get back, but get back it will.

    Curt
     
  13. cubancigar2000

    cubancigar2000 Well-Known Member

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    7500 - 8000??? I predict much lower
     
  14. grnberetcj

    grnberetcj Active Member

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    Probably....lower??? I don't have a crystal ball on that one, All I know is that my retirement investments in the last year have gone up over 40%...

    Checkout the BlackRock Global Resourses, A thru C.

    People need energy....

    Curt
     
  15. The Kissable Wanker

    The Kissable Wanker TS Member

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    Oct 23, 2007
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    Way too many people are panicking that's the problem! Not that things aren't bad, just way too many people are getting out of their funds and cashing out. I doubt it'll go below 7K.
     
  16. sammyd95

    sammyd95 TS Member

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    Nov 22, 2007
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    358
    The band Alabama said it best! "somebody told us the stockmarket fell,but we were so poor we couldnt tell"
     
  17. Little Dog

    Little Dog TS Member

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    I knew some idiot would blame it on Bush and nipper didn't disappoint.
     
  18. wireguy

    wireguy TS Member

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    Hey all you market watchers, question. What is it going to take to get the real estate market back to some level of sanity? I keep hearing that mortgage money is nearly impossible to get now. How will the lending market ever get back to having some capital to work with so people who aren't bazillionaires and don't have 50,000 dollars cash down can buy again? Another thing. All these people who have lost their homes. Where are they living? Since all those homes are empty, no one living in them, where did all those families go? Seems like it ought to be a fine time for people with rental properties but there are only so many of those. I can't figure out where all those people whose credit is trashed and can't even qualify to pass a rental contract are living.
     
  19. Big Heap

    Big Heap TS Member

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    "The market will fluctuate", Julius Pierpont Morgan
     
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