Woohoo. DOW breaks 9000 - in the wrong direction

CNN | 10/9/08 | staff

[pissant]

8995. Wow, I'm impressed how well socialism has helped the markets.

[politicket]

I expect a bigger return in the nest few years...Think long term.

Here's my take on it.

The "normal" market should have been at about 8,600 instead of 14,000. We're almost there - and we're going to overshoot it by quite a ways, possibly down to 7,000.

Buying small quantities at 8,500 and then increasing the quantities every 200 points down would normally return a very healthy profit for those with cash on the sidelines.

However! Doing ANYTHING in the stock market with the credit market sitting like it is would be purely insane.

[happygrl]

Who's got the cash?

I think we know.

[buccaneer81]

[pissant]

Woohoo. Down 533 now!!

[life is not fair]

Perfect storm.
I don`t think the bottom will be more than 4000.
We will have a huge recession and the economy will
change for good.

[RobRoy]

>>That is why I am not going to panic. I know it will be back.<<

Yes, but the last time before it came back we had that WWII nastyness. This one really could give us the same - or worse.

My strongest concerns regarding this worldwide collapse are not economic.

[life is not fair]

Better to buy gold now.

[ArrogantBustard]

I'd rather have a chainsaw.

I'd rather have an M1A2 Abrams ... I need a crew of 4. You in?

[OneWingedShark]

Actually, I agree with you. And I was more agreeing with the statement that there are plenty of free-market solutions.

[LS]

So you’re saying 7,000?

[BGHater]

Wow, the Dow is really picking up steam now.

[tatsinfla]

have lost 30% already since all this started in my 401k...thats not counting what i am losing today....yep, i will be working until the day i die and leave my family nothing.....

[Terpfen]

We’re starting to reap the results of allowing socialist/communist infiltration of the education system back in the ‘60s as an apology for McCarthyism. (Nevermind that McCarthy was right...)

[Lazamataz]

Gunner.

[pissant]

Well, the good news is that we will have established Bush/Pelosi/McCain/Obama socialism that will benefit us for decades to come. /s

[ErnBatavia]

Better to buy gold now.

Where ya gonna spend it? I just checked the Kitco chart, and surprisingly it's down a wee bit, BTW.

[darkwing104]

, I’ll jump in with both feet. Good thing about a bottom (at least in housing) is that it painfully slowly climbs out of it, giving plenty of time to get in cheap.

That is playing it smart...

[BGHater]

Chin up. We will rebound.

[NeoCaveman]

So you’re saying 7,000?

Somewhere between 7,000 and 7,500. If I had to pick a number then I'd pick 7,250.

[pissant]

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