6-26-02 Wall street watch

[newsperson999]

It's going to be a long day folks, Worldcom has the market on edge. Overseas markets were down 2-4% and the Dow futures are off by 225 right now.
New Worldcomm Fraud forum here click

[Nuke'm Glowing]

Attention all New York Freepers:

Weather forecast for today:

Sunny and clear, high in the low 80's with occasional showers of falling brokers. Showers most likely to occur in the financial district.

[Burn24]

I hear ya there.

[SierraWasp]

I think the markets are taking the burgeoning barrage of bad news amazingly well!!! They're not even down 2%, YET!!!

[Mudboy Slim]

"Anyone have picks for well run and honest companies to invest in?"

Paging gramps...MUD

[Wally Cleaver]

Any thoughts on all of this...think it is time to head to the hills. And on top of all of this last week my employer was asking all of us to take our retirement savings and put it into an Employee Stock Ownership Plan (ESOP) and they would make us all wealthy.

[Diddle E. Squat]

Hmmm, that's Trent Lott country.

I wouldn't shed a single tear if he got caught up in the scandal.

[Stirner]

Curtiss-Wright uses Price Waterhouse Coopers. I couldn't find out who Helmerich and Payne uses.

[Hornetsrule]

Unfortunately, speaking as a CPA...

"The first thing we do, let's kill all the accountants." (2 Henry VI, IV.ii) :-)

[Night Hides Not]

...just those that do audits, if you please! I don't! lol

[Huck]

So far, it's not as bad as I expected. But as we have seen lately, things can change awfully quick. Was that yesterday the Dow was up 100+ and ended down 200+?

[anniegetyourgun]

BTW, just heard Ann Compton do her ABC radio news spot on this subject. She just HAD to bring up the Enron debacle and indicate that they have HQ in "President Bush's home state of TX." Don't you just find the mainstream liberal media to be SOOOOOOOO transparent?!!?

[Not_Who_U_Think]

"Curbs come into effect with a 200 point move. There is a pause (an hour I think) with a 500 point move, and I think a complete closure with a 10% move."

As George Will said several years ago, when a movie theatre catches fire, do they lock all the doors for five minutes until calm returns? If someone wants to sell their stock, they should be allowed to do so, at their own peril.

[jae471]

11:08 -- DOW -146; NASDAQ -26; SP500 -16

The indicies want to rise, but keep hitting resistance at Dow 9000, Nasdaq 1400, S&P 965.

[Demidog]

It's the Bush market now. None of this has anything to do with Clinton.

[toenail]

You might want to check out the Timothy Plan.

[Aggie Mama]

This has nothing to do with Bush. These accounting practices took hold years before Bush was even thinking about running for the Presidency. The link to Clinton, IMHO, is that during his tenure, corruption, greed and lying were the ethics of the day. Yes, those 3 vices have always been around, but when the President of the US decides that it's okay to sell our safety for votes, nothing is sacred and anything goes.

[SierraWasp]

This is about as much the "Bush Market" as the last five years of the 20th century were the "Clinton Market!" Clinton enjoyed the final push from the Reagan tax cuts even though dampened by the Daddy Bush "read my lips" deception!

[Billy_bob_bob]

One word. Cash. Get into cash. I did about two years ago, and I'm really glad I did. Cash is king right now. Also, keep a weather eye on gold. Maybe even acquire a few ounces, I'm partial to maple leafs and American eagles myself. If gold goes above $400 then look out, it could go a whole lot higher, IMHO. But more than anything get out of all stocks and get into cash.

Regarding your employer pushing their stock on their employees, it's been my experience that the harder they are selling the stock the more worthless it is. I would suggest keeping your retirement funds in cash. Sure, %2 interest sucks, but it sucks less than losing %50 or more of yoour money, like so many have.

I've gotten into the habit of taking note of which stocks are being hyped on the TV talking heads shows. Invariably these stocks are in the dumpster two months later. It cracks me up. I remember this guy pumping SEBL a couple of months ago, when it was around $30 a share. Last I saw it was around $13 and change. Such a deal! Buy more!

[Demidog]

This has nothing to do with Bush.

I didn't meant that he had anything personally to do with it. However, there's no Clinton link here per se. This downturn will be laid at Bush's feet though politically since that's what always happens.