The lamestream drive-by media analysis of the market is bogus.
Posted on 10/06/2008 7:45:09 AM PDT by Thane_Banquo
Looking at hugh panic in global mkts right now. This is vey series.
Australian dollar off almost 8.6% on the day against the USD. One bank said they are seeing literally NO BIDS in the Australian dollar, which is huge considering that you can usually trade several million with the click of a mouse.
LOL Generally true. Although I post because somewhere I hope there are undecided people who are trying to make sense of this mess.
Last week I was valiantly mounting an effort to educate FR on banking. OK clearly I suffer from delusions of grandeur. LOL
“> This is an orchestrated collapse.”
I’m thinking $oro$ might be “conducting” this orchestra. He’s blown plenty of money already trying to get ‘Rat socialists elected President in order to tank the USA, this time the Commies are pulling out all the stops. Beware!!!
“incompetence, duplicity, feckless stupidity “
please stop adding to the panic by piling on like that.
Bear markets and cycles happen even when the leaders are on the ball. Was Reagan called names in 1987?
BTW, I wanted Romney too, knowing that the economy would be the real issue.
I just looked at IBD’s web site, and there’s an article about how it’s better to stay in the market and ride the lows so you don’t miss out on the “best days” of the market. I don’t think my nerves can handle that right now because I don’t think this is a typical downturn. But I was wondering, if a person sells their holdings and puts the money into cash when their loss is say 20%, and the market goes down 40%, then the person buys back in before the prices reach the prices they sold at, isn’t the person still ahead?
“It seems like all the anti Mormon bigots who wouldn’t support the only republican who knew anything about the economy because he didn’t read their Bible are awful quiet these days.”
Romney-bashers: Come out come out where-ever you are.
Methinks they are at the store stocking up on food and ammo.
I would normally agree. But I think that the reasoning is if you believe the market is going down more, why not get out now and preserve your savings, then buy back in when things start to turn around. For example, if I sell at $25 a share, and the price continues to decline to $10 a share, then when the price starts going up and I buy back in at anything lower than $25 a share, I’m ahead. We have a friend who sold back in October 2007, and he’s sitting pretty now with no worries.
Panics are based on emotion. The emotion here is seen the worst in hedge funds - the redemption letters are falling on them, their margin lines are being pulled, all asset classes are falling. That’s where the panic comes from.
What I said is a statement of fact: Bush couldn’t lead an incontinent five year old in the general direction of a bathroom. He didn’t deal with the problem when it was easily seen before it reached a crisis. He has allowed Paulson to buffalo the Congress, and he’s allowing Paulson to turn over the entire US Treasury to Goldman Sachs.
Reagan had nothing to do with the ‘87 crash. Zippo.
Bush, in his desire to have an “ownership society” and going soft on illegal aliens, helped create a situation where mortgage defaults were going to go up. By appointing a hack like Paulson, we’re destroying confidence in the Treasury because it is so readily apparent that Paulson is self-dealing and protecting Goldman.
Bush has been utterly incompetent on this issue for 18 months. He shows no inclination to get smart any time soon.
I agree — seeing Cramer yelling “sell, sell” is a good bottom indication.
The market will finish selling off over the next day or two, and we’re going to start seeing the values picked up here and there.
Still, I’m short until the close - or I see the TICK/TRIN indicate that the selling has selling has exhausted itself.
Hey, I just got here. Time to start drinking heavily yet? (And saving the empties for that 401-Keg plan?)
}:-)4
Hold muh beer.
Moving more to foreign shares (+5%), TIPS (+2%), commodities (+4%, gold / oil), REITs (perhaps an inflation hedge, +2%.) I just need to spread my bets more widely since I have little confidence in the USD and I’m looking for hedges.
What I’d really like, but can’t find, are a MMF and Intermediate Bond fund in ex-USD basket of currencies. I want to flee the dollar (to a certain extent), but don’t need more equities. I’d like to bet against the USD by holding interest bearing accounts in EURO or preferably all non-USD currencies simultaneously.
If you have any other ideas, I’m all ears.
I’m afraid I’m all out of ideas, having bought into a financial plan by someone I trusted and who has kept telling me to “sit tight for now”. I’m spread out with foreign and U.S. investments, and I’m afraid to look at my portfolio today. And no amount of my usual therapeutic activities (home improvements mostly) are helping. Maybe I should try hiding under the covers. :)
I like your attitude. Maybe I should buy that new flatscreen I’ve been looking at for months, waiting for the market to pick up!
The lamestream drive-by media analysis of the market is bogus.
This chick on Fox during the lunch hour/central time is just pounding the drum to get Obama’s terror buddies off the news so we can maintain the current economic hysteria/panic. Sheesh.
That is probably still good advice. I'm not moving much. It is dangerous to be out of the market the day it bounces up 6%.
If you are broadly diversified in stocks (primarily), then the following is true:
You own the same small percentage of the world you owned last year. It is just that the value of the whole world has dropped. Everyone is worse off, you are worse off at the same rate as everyone else, no more, no less. Someday, the world will be worth more. And if you maintain your exposure to the whole world, then you will be worth more then too.
So, fear not. If you have extra cash, this is the buying opportunity of a lifetime. If you don't have extra cash, you might rebalance your portfolio a little back to where it should be, and that might amount to taking advantage of a buying opportunity.
Thank you Uncle Miltie. I need some reassurance today and you’ve stepped in just in time. :)
-723 at 2:30 EDT...is this the stock market or Six Flags? I feel like I should be throwing my arms up in the air and screaming “WHEEEEEEE!”
So now that we have a bailout bill, what’ll be their excuse when THIS “biggest one-day selloff” eclipses last week’s “biggest one-day selloff,” which was allegedly because Congress *didn’t* pass a bailout bill?
}:-)4
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