DOW Below 6700 10:17AM CDT 6,679.19 Down 196.65 (2.86%)

Yahoo Finance ^ | 3/5/2009 | DOW

[IYAS9YAS]

My 401k is squat.

You're lucky you still got a 401k. Mine is so bad, they renamed it a 100.25k.

[Gator113]

I’ve been out for a couple of months now, but what’s left my wife’s retirement stock/savings are still in and being diminished by the day.

She’s has over 25 years of comitment to this and she’s lost over half it’s value this past year. -187K. Oh well, she does like her job. LOL

Obama is killing us... hope it stops soon, but I doubt it will.

[semantic]

I'm constantly reminding people to avoid fighting the current battle using the tools & technique of prior conflicts. Not only is advocating violence/secession illegal, but it is impractical and will NOT get the job done. It will not achieve our objective, which is to restore a representative republic. My RAD blueprint:

Repeal the 17th
Amend the Constitution to add Rep term limits
Disband the FED & IRS

We have a perfectly legal, moral and valid means of bringing forth political change. We must work together to bring forth the financial collapse of the welfare state, and its ability to direct and control citizens' lives. It will not be without cost, however - there will be hardship. But, consider for a moment what prior generations have faced; I do not believe our challenges will be equal:

...all thoughts were anxiously directed to an impending civil war. All dreaded it, all sought to avert it ... and the war came...

Fondly do we hope, fervently do we pray, that this mighty scourge of war may speedily pass away. Yet, if God wills that it continue until all the wealth piled by the bondsman's two hundred and fifty years of unrequited toil shall be sunk, and until every drop of blood drawn with the lash shall be paid by another drawn with the sword, as was said three thousand years ago, so still it must be said "the judgments of the Lord are true and righteous altogether."

[Nervous Tick]

>> Amend the Constitution to add Rep term limits

Literally, just representatives? Not senators?

[LadyBuzz]

OBAMA needs to STFU - I’m a kind very gentlewoman.......& I’ve had enough of this crap day after day - where are those damn M&M’s, twinkies etc...

[IYAS9YAS]

Question to anyone who knows better about these things: I have a 401k. It is currently down by half, and not looking good. I finally parked (way too late, stupid on my part) what remains in the safest havens in the plan, but even those are not 100% safe. Given that we are really going into some scary times, would I be better off leaving it alone, or should I take what I can out of it, pay the tax and the 10% penalty, lick my wounds and use it to buy the things I think we're really going to need (guns/ammo/canning supplies/etc...).

I don't want to sound panicked, but I am deeply concerned. I have a family of four (five if you count the arthritic Yellow Lab) depending on me as the sole bread-winner and am scared to death that things are more likely to go kaput than turn around.

[Nathan Zachary]

"This is destroying so many people. Yesterday’s bounce was such a suck-in. Very cruel, is all I can say.

This grind, grind, grind down is ABSOLUTELY NOT the kind of market that produces bounces. It just sucks in lower and lower levels of bargain hunters who wake up the next day down their expected gains for a year. Very cruel.

This is NOT the kind of market for those who expect to buy something and "go long", sit on stock for months or a year and expect a gain.

This type of market has lots of "bounces" in a day, but it's strictly a "hands on" day traders market. It's fast and furious 'hands on' trading. Unless you are carefully watching the level II bid orders, and catch those bids on the up spike, you'll never make anything.

[LadyBuzz]

DOW down 185 & counting 6687.31

[Nervous Tick]

>> You’re lucky you still got a 401k. Mine is so bad, they renamed it a 100.25k.

You’re lucky you still have that K power!

Mines just a 401.0 x 10^0 now.

[Petronski]

;OD

Thanks for that.

[LadyBuzz]

Thankfully we have a protected private pension and have moved all our Thrift Saving Plan contribution $ into the very safe? G fund.................

We are 5 years until retirement (?) and frightened....

I wish I could blame my anxiety on hormones but I don’t think I have any left.... the ultimate cure for PMS..

sorry for babbling........

[Paladin2]

0be likely thinks dividing by zer0 is a g00d thing.

[Attention Surplus Disorder]

Absolutely. The only folks I know making money are those who go home flat every might, win, lose, or draw.

It is true that you might have gone short this market over the past few months and sat on those positions, but it is also true that if you had done that virtually any time over the past few years, you would not be alive to execute that strategy.

[668 - Neighbor of the Beast]

6,666.36
at 1:26pm

Change:-209

[668 - Neighbor of the Beast]

DJIA of the Beast. :(

[silverleaf]

I just moved to transfer and park what is left of our IRA in a trusted credit union IRA share account at.5% interest

I don't have 5-10-20 years to recover from what obama and his handlers are doing to America

If I had listened to Karl Denninger instead of Dave Ramsey just since January it would have saved me $20K

If and when I ever again believe in America (such as if and when obama is ever removed from office by ballot or otherwise) then I'll reinvest in her. But not now.

From today my only wealth building strategy is debt reduction/elimination and cash accumulation as quickly as possible. If inflation comes I'll deal with it. Tomorrow is another day.

[wbill]

Less for them to give to political campaigns.. :)

Good point.

I think that the smart money is going to start getting back into the market pretty quick, though. Regardless of what Obama says.

Usually when the weeping and wailing and gnashing of teeth is at its apex, is the best time to buy. Just like when everyone is jumping in with both feet is the time to sell....

I look for the phrase "This time it's different" to show up. I went conservative in summer of 2007 (not enough to shield all losses, I've merely lost my shirt, instead of all my clothes, shoes, house, and farm) when I started hearing "We're going to the moon! This time it's different!" from the financial chattering classes.

Haven't heard "This time it's different" too much - yet. Just a lot of talk about depression, which may be roughly the same.

[IYAS9YAS]

Mines just a 401.0 x 10^0 now.

What's the rule? Anything to the zero power is 1? So, ya still got that going for ya.

[N. Theknow]

I think that the smart money is going to start getting back into the market pretty quick, though. Regardless of what Obama says.

A lot of smart money pays more attention to the S&P than the DOW. And that money has it pegged at a 600 point S&P before jumping back in because then the risk is considered minimal.

[kcvl]

6645.73 -230.11 (-3.35%) Mar 5 1:34pm ET