Posted on 01/20/2009 4:02:07 PM PST by MindBender26
Cannot post due to sourcing issues, but the compendium of financial news wires is very specific. On a day when markets are usually up on hope and anticipation, they are down to record lows worldwide.
It will get MUCH worse.
Do you think it will take that long? IMHO I suspect an April or May time frame or sooner.
ping
I seem to recall that she thought P.BO was going to pay for; her house, her car, and her gasoline. She took it wrong. What P.BO actually meant was she will loose her job and hence her house so she doesn't have to worry about her mortgage, her car will be repossessed so she doesn't have to worry about about a car payment, and without a car she doesn't need any gasoline. See everything is taken care of she just misunderstood how it was going to happen.
Cash is king for the foreseeable future. And in a deflationary spiral such as the one we're experiencing, even a paltry two or three percent on a bank CD is nothing to sneer at.
The smart who move money for living, like the people who run/ran Citi, Enron, Bear Stearns, Merrill Lynch, Morgan Stanley, BofA, etc, etc, etc? If they are so smart why have lost trillions of dollars? If they are the smart ones I’ll stay stupid.
And yet, they still have trillions, and are convincing your idiot government to take your money and give it to them. How does stupid feel?
My point was that *nobody* who is responsible for significant investment funds is going to bet on Obama doing anything remotely bright or productive for the economy.
Best to sell some of your stocks into any rallies that might develop. When the market shoots up temporarily, take some of your stock holdings off the table. That way, you soften some of your losses.
Even a vicious bear market like this one has occasional sharp rallies. The market had recently jumped 20% off its November lows before dropping back down in the past two weeks. Those are the times to increase your cash position.
nope peak was around 14090 or so right around 10/8/2007 ... since then it has been dropping.
Nice call knarf.
I'll pull another one out'a my @$$ ....... when i sober up.
Maybe ..
I might jus' keep drinkin'
/8^)
"Obama will take care of me, if I take care of him"
That post of yours, my FRiend, is a classic!
“Sigh. I tried to do that back in November and my broker talked me out of it. Should have ignored him.”
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
A short while back I wasted half an hour trading posts with someone on FR who instructed me that as long as you haven’t sold you haven’t lost anything yet. I can look him up if you want to have him reassure you, he seems quite certain of his own wisdom. He tells me I am just not smart enough to see the brilliance of his reasoning.
I recently took a chunk and put it into a Pacific mutual fund - Japanese, Australian, New Zealand, Singapore, etc. stocks - just to get it out of the US market. However, thats tanking, too. Not too many “chunks” left to do anything with! I don”t know what to do except watch in horror... I”ve been listening too much to Peter Schiff, who is saying the next big bubble to pop is going to be the bond market.
Who knew the market was racist?
I think I was probably on that thread because not long ago, I felt the same way! But I am really starting to believe this thing wont bottom out until it goes past 5700, and then the Zero is probably going to co-opt everyones 401K in order to “save” us from ourselves.
So the worst such closing in the 40 years prior to today was the start of Ronald Reagan's first term? Sure looks like an accurate predictor of what's to come.
Well, no.
There's precious little a government can do to help business, but an infinite amount they can do to harm it...
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