Posted on 11/26/2009 11:56:47 PM PST by prisoner6
Dow Futures down 327 as of 2:41AM.
NASDAQ down 70.75.
S&P down 41.70.
(Excerpt) Read more at money.cnn.com ...
You & Halgr Shorting the market, eh? Wouldn’t be the first time people come here and post vacuous statements meant to get everybody in a tizzy.
It use to happen a lot on AOL chat boards; some broker would break into the conversation with a headline about some company going belly up soon or whatever.
I see they moved up and over to FR.
I couldn't imagine ever having enough money that I might consider buying one of those places.
Personally, I'm with you. I, first do not have that kind of money either, and I do not entertain the thoughts of self induced nightmares of the above mentioned type of people.
I say that because whatever people on the boob tube say, I know it's either a lie to promote an agenda or a lie for a sucker play to relieve people of their cash.
See my post #105.
I agree.
Thanks for the information. My impression is quite a few folks don’t understand the concern they should have about Dubai. Last year it was another major player who tipped the foreign markets that caused the run on the window. These guys are bigger, the question is do they have more control? I am doubting it as they are using the same group as GM to reorganize. Markets don’t like uncertainty.
What we are not seeing is the real story on all the players, who, when, how much, meetings, etc that tie it all together with the global derivatives sham.
A lot of real money has already been skimmed off the top with nothing but defaults and seriously depreciated assets left on the books.
What the crooks are now doing is pawing and buying off the politicians to protect them (the crooks) and at the same time, hand the bill to the common man while a few wealthy elite laugh about it on the back of their yachts eating caviar and drinking $200 / bottle champagne.
There are several here now on FR that will (and have) told me I need to take off my foil hat....so did the 4 brokers I know that no longer work in the industry and one has lost his house and 2 new vehicles. (during the NASDAQ 1998 pimp up).
Bank of America Corp. (BAC US) lost 3.6 percent to $15.37. JPMorgan Chase & Co. (JPM US) retreated 3.5 percent to $40.70. Citigroup Inc. (C US) fell 5.8 percent to $3.93. Wells Fargo & Co. (WFC US) dropped 3.3 percent to $26.90. Goldman Sachs Group Inc. (GS US) slumped 2.9 percent to $164.
Going to be a tough day for financials and commodities.
Where are you at? I was born and raised near Iron River.
Starting the first of 3Q 2010, the bottom will fall out as the pace of commercial real estate implodes......all bets are off then as another $250-$350 billion in option arms and alt-A's begin their resets in the mortgage industry.
After that carnage takes place, the Feds will start a fast pace ramp up in rates.
The Feds are now allowing the big banks to wiggle as much as possible to lessen the impact of the upcoming disaster.
So then where do I park my 403b, which is currently all cash since late July when the previously predicted meltdown was to occur?
My choices are limited to Vanguard funds.
If you got out last July, you should be giving advice not taking advice from know it alls on the internet.
My recommendation: would be a mix of foreign stock funds, foreign bond funds, commodity/energy/metal type funds. Leaving a portion in cash, the bigger the portion if you are close to retirement.
Good question....I’m in the same boat with limited choices for the 401K. That’s why, when I can, I read FR and everyone’s opinions concerning money & investments and the corrupt world of politics and finance......Only the Bilderburgers know......
I'm at least 12 years away from a greeter at Wally World or janitor.
Oughta-be a fun move from working in a R&D lab the last 25 years. LOL!!
I'm thinking about asking Walter & Bubba (Jeff Dunham) on advice for being a Wally World Greeter.
bttt
Pretty much agree with your assessment about commercial RE. On the upside, 2011 will be the year of REIT’s. You read it here first. No, I’m not a broker nor do I play one on TV. However, I have stayed at a Motel 6...haha.
Once the World re-groups, BRIC will skyrocket, although I no longer believe Russia should be included because of their limited exports (mainly oil and weaponry) and their unreliable politics. They are so old world, much like western Europe that is stagnant and whose population is not growing but is growing older and just not consuming nor producing. Of course there are the exceptions. I have a large position in British Petroleum (BP)...but again, energy and international at that.
China and India are the future of world growth and wealth, along with a few others. I never thought I'd see the day when China's government is more pro capitalism than the US fedgov. But it's happening before our eyes.
IMHO, that counts in your favor I'm thinking. Can you hear the equity "flush" from where you are? ; )
Seriously, this will hit people who can't evade the fallout the worst. Having a home makes you a stationary target.
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