Posted on 10/09/2008 1:00:23 PM PDT by prolifefirst
Can't take it anymore.
Try to keep things in perspective: IIRC, during the last bear market (2000 - 2003), the S & P 500 declined something like 50%, the DJIA declined about 44%, and the NASDAQ lost more than 70%. The big difference is that the declines during the 2002-2003 bear market occurred over a two to three year period whereas about half of the current 40% decline has occurred over the last two weeks. Nevertheless, if the market bottoms at 7000, then we are no worse off than in 2000-2003, except that we got to the bottom a lot faster.
RE: “Does anyone think that the markets are being manipulated by someone like George Soras in order to control the election?”
To some degree, YES!!!!!
We have yet to break out of a bear market. Be extra cautious until we do.
Re staying liquid..........
Old saying, “Cash is King!!”
Except in Zimbabwe.
“I’ve lost all interest in sports and other recreation. All I can think of the health of loved ones and staying liquid.”
Drink won’t get ya anywhere, P.L.
Seriously. It’s only money. I’ve lost everything that I’ve had - twice! The important things in life are family, friends, faith and enough air to breathe, food to eat and water to drink.
This stuff is making the 2.25% I’m getting on my credit union CD look good...
My wife’s 401(k) report just came in the mail today. She’ll be home in a few minutes to open it.
During the last period of time when she was allowed to make changes to it, she opted for “more risk” rather then “more safe”. This was mostly because she only has a few years till retirement, and we’re not talking about a great deal of money. The company she works for was bought last year by a company that doesn’t match any of her 401(k) investment. (the original company matched some of what she put in.)
It will be interesting to see what’s happened to her account in the intervening months.
She’ll be home in about 5 minutes. Arrrrggggggg!
If you buy these stocks today, this is the dividend yield
Duke Power = 5.5%
AT&T = 6.22%
AEP = 4.97%
ConEd = 5.62%
RE: “I wish you had whispered advice in my ear back then. We’re way down but I’m counting on it going lower since we just transferred them today.”
Me too — just moved funds today — at least we did not totally close out our accounts!
I moved the biggest chunk of my 401K into bonds back in February this year. I’m afraid to look at what’s left.
I’m 59 1/2 and looking to retire in Dec 2010. I sure hope that I’ll have something left by then.
I have a proprietary oversold indicator.
Prior to today the highest reading, ever, was 312/8.
Today: 428/0
I think that it is being manipulated. As were commodities.
DuPont (DD) is over 4 1/2%. I bought some yesterday.
RE: “I keep remembering all those talking heads who told me I was an idiot for keeping my money in the bank”
AGREE!!! I am so glad I’ve stayed in cash investments all these years except for the IRA (from old 401K) I’ve got with Vanguard. Finally (weeks too late!) moved stock funds into their money market option today. No way would I close out the account and pay those taxes.
Have always considered this my “play money” and the only funds I had anywhere near the “market.” Too many reliable people in my life over time warned against gambling on the market and while yes, some people do really well, many more never do anything but lose.
Now I’m hearing all those old adages like “cash is king” and “stay liquid” and more. Also “slow and steady wins the race.” My (deceased) mother is screaming “I told you so” from her grave. :) She was a child of the depression and lived all her adult life like the next one was just around the corner.
Things will come back, no doubt, but how and when is in question — so much more is coming into play now and the whole world seems to be tanking.
The closer to retirement a person is, the less risk should be taken. Conventional wisdom says not to invest money you will need in 5 years. Given how this month has started off, September’s numbers won’t look too bad. Funny how September and October tend to be the worse months for the stock market and it sure is holding true this time around.
My IRA money is in a 30 year fund...not selling. Will probably double down once S&P hits 820.
When was the previous high reading?
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