Dow futures tumble as Wall Street preps for meltdown

CnbC ^ | 8/24/2015 | Jenny Cosgrove

[EBH]

U.S. stock index futures screamed lower, with Dow futures (Chicago Board of Trade: @DJ.1) tumbling more than 400 points, as fears surrounding the health of China's economy multiplied.

These concerns saw the benchmark Shanghai Composite (Shanghai Stock Exchange: .SSEC) index notch up its biggest one-day percentage loss since 2007 on Monday, closing down 8.5 percent .

Panic spread to European markets, with the pan-European FTSEurofirst 300 (FTSE International: .FTEU3) as much as 3 percent in early London trading. All major bourses were off a similar amount. The index has shed over $1 trillion in market value in August so far.

[Chgogal]

Will we break 700?

[Chgogal]

Some entities got AAPL for $92!

[NeoCaveman]

Buying? Oh I wouldn’t buy right now.

But yes generally buy on red, sell on green

[Chgogal]

Start thinking about buying when the market is down 20%.

[abb]

I saw that. I just filled an order for XOM @ 68.26, for a yield of 4.27%.

[Jane Long]

Yep...they might have that opportunity, again. We’ll see.....

[Chgogal]

Buyers are back!

Down only 520.

[catfish1957]

Not knowing yours or anyone elses exact situation, I really don't like to give specifics on choices. I haven't batted 1.000 in these 30 years, and would hate for someone to lose money on what i may think is a good play. What may be a good choice for a 58 year old retiree may not be the same for someone else.

On another thread I did give this general advise that has served me well through the years and during '87, '00, and '08....

1. Priority 1 should be eliminating or reducing debt. I view debt payments by default as negative income.

2. Competitively bid all aspects of your expenses. Get the utmost value down to the penny for everything you buy, or services you secure. Over years and years, you would be surprised how much this adds to your net worth balance sheet.

3. Keep your investment portfolio that is intended toward goals... i.e retirement as an example, in strong conservative investments. When you have those bases covered, then you can look at speculative plays.

4. I invested zero in the dot coms in the '90's. My father gave me the best advise of all in that era.. "Why would you ever invest in anything that doesn't make money?" To me that rules still applies today.

5. I have found that the simple rule of putting 100- your age in equities worked pretty well for me. Maybe not for everyone, but........

6. Research and "like". When investing, I tend to get into stocks which I think have good products that I like. Before getting in I research it to death too. A Low P/E is often a good indicator. Furthermore, is there a long term demand for the product too.

7. The best time often to invest is when everyone is rushing out the door. The is the toughest part, but finding a price bottom, is golden toward finding long term return.

8. Monitor investments and net worth monthly. Research, evaluate, and adjust as needed.

9. Don't fall in love with a stock/fund/etc. so much that you resist selling when the fruit is ripe. Don't forget that your favorite stock is not a family member.

10. Never forget that a SHTF scenario is always a possibility. Remote, but still there. Have a base amount of investments that will address. Metals, Land, etc.

11. Formulate and adhere to three different budget scenarios... (1) Regular (2) Austerity (3) Emergency

[NeoCaveman]

Start thinking about buying when the market is down 20%.

I'll think about it. Once I decide to close out my triple levered bearish ETF's. I have XOM and CHK on my watch list when the day to go long happens.

[Jane Long]

I saw that...another cash dump :)

[fwdude]

Is Øbama pulling out the “Bush’s fault!” card yet?

[catfish1957]

I saw that. I just filled an order for XOM @ 68.26, for a yield of 4.27%.

Nice pickup for an investment that has a S&P rating that is better than United States Treasury (AAA vs. AA+)

[Chgogal]

Wow! You are ballsy. I’m going to wait until oil hits $35. But you may be right?

[abb]

My God!! Common sense thrift, discipline, and long-range planning. What are you, some kind of a nut?!?!?! /sarc.

[Chgogal]

Awesome stocks. There are some great energy stocks on sale right now.

FYI volume is up 230%.

[abb]

Oil’s cheaper today than during the 08-09 recession.

[Chgogal]

We are at 460! ; )

[Chgogal]

INTC only winner today!

Down only 345.

[catfish1957]

What are you, some kind of a nut?!?!?!

Kind of OCD on this stuff, yeah my family thinks I am a nut.

[Chgogal]

True, but there is more supply available now.