Posted on 05/19/2010 7:57:37 AM PDT by Kartographer
Dow Jones Industrial Average(DJI: ^DJI) Index Value: 10,409.38 Trade Time: 10:54AM EDT Change: 101.57 (0.97%) Prev Close: 10,510.95 Open: 10,505.70 Day's Range: 10,361.77 - 10,522.52 52wk Range: 8,057.57 - 11,309.00
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I bailed at 10,390 months ago.
Sleep better now.
So are we headed for 8,000 or 5,000?
Be careful!.....Some freepers here are very sensitive about reporting the negative market. It appears they are hanging on.....
I’ll buy again at 7,000. Worked like a charm last time.
Death by a 1000 cuts?.....no pun intended.
White balding guys with fat fingers wearing red shirts..Again!
“Ill buy again at 7,000. Worked like a charm last time.”
Good that way I can buy at 5000 and make some money. ;-)
Ill buy again at 7,000. Worked like a charm last time.
Good that way I can buy at 5000 and make some money. ;-)
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What’s interesting is that unlike two months ago when all of the usual lackeys crowed about “turning the corner” and “green shoots”, the prevailing opinion and market indicators are that the market will go lower, it’s just a matter of how low. I dumped out at 10800 and will sit this one out until either 8000 or the GOP takes control in November.
3800 by late 2010.
Traders call those ‘omen prints’ or ‘magnets’ and the market always goes there.
After that Thursday I said somewhere on FR.....don’t worry it WILL go there.
Absolutely.
After experiencing exactly this sort of slo-mo decline over and over starting in the mid-1970s, we bailed completely and went into cash 2 years ago. We spent many agonizing hours contemplating a no-interest environment. In fact, during prior crashes, I was envious of those who had stuck to cash. Now, I hear formerly cash-only proponents echoing our own mantra of *buy and hold, it will always come back* as they nervously soothe themselves over various dips.
All our PM was purchased for use as jewelers back in the 1990s. We won’t sell it, as we would get below spot or have to pay a premium to sell the purest of it.
The smartest investor I know went all cash into laddered CDs after 1987. Everyone told him he was paranoid. Now, he looks prescient.
I watch the markets out of a 30-year habit and am amazed at how I now only look at it in macro terms and sleep better for that. When tool prices decline, we invest in those. Otherwise, we rely on our skills and so far, that, along with a lifetime habit of frugality, has proven to be the best bet.
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