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Todays Stock Market Thread (DJIA 7784.58 (-234.68; -2.93%) NASDAQ 1282.55 (-36.60; -2.77%)

Posted on 07/22/2002 9:58:15 AM PDT by newsperson999

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To: Lazamataz
"You know what? We may just NOT be able to recover from the Clinton Era of Fraud and Deceit! What say you, Southie?"

Our economy is stronger now than back when we recovered from Senator McCain's massive S&L fiasco, so I'm not sweating the economy.

On the other hand, our stock market is far more overvalued now than back when we had the massive October, 1987 "repricing" event, so I'm not betting Long on many stocks (though my Puts are doing rather well lately).

The overvalued stock market is bashing up against our overperforming economy. What else can we expect buts lots of smoke and volatility?!

181 posted on 07/22/2002 12:22:10 PM PDT by Southack
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To: Vets_Husband_and_Wife
I'm not sure honestly. If I were very close to retirement (not that I ever will unless I can't work anymore), I would look for annuities. I think it's too late to hedge with bond related investments. I'm sure there are great values out there. I definitely would not buy into an indexed fund right now. REITS and Gold based havens are probably overbought. I'm just watching the bigboards right now. I would go to the NASD homesite and see which market makers like GSCO etc. are buying what stocks in the largest volume for Institutional Investors....that would be a reasonable indicator.
182 posted on 07/22/2002 12:23:23 PM PDT by wardaddy
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To: Lazamataz
Ain't that the truth Where do I sign up?
183 posted on 07/22/2002 12:24:10 PM PDT by steveegg
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To: Southack
Our economy is stronger now than back when we recovered from Senator McCain's massive S&L fiasco, so I'm not sweating the economy.

There is a decided disconnect between the economy and the market lately.

On the other hand, our stock market is far more overvalued now than back when we had the massive October, 1987 "repricing" event, so I'm not betting Long on many stocks (though my Puts are doing rather well lately).

WAY more overvalued. We need to settle at the 15 to 20 PE ratio level. There never was a 'new economy', much as Dutch tulips never foreshadowed a 'new flowergardening'.

184 posted on 07/22/2002 12:24:33 PM PDT by Lazamataz
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To: DJ88
That would be one of the Robinsons, a Sidebar Moderator or an Admin Moderator.
185 posted on 07/22/2002 12:24:52 PM PDT by steveegg
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To: hchutch
Just got back. I see the Citibank mess is hitting the fan. If I remember, that Savior of the Market Robert Rubin is being retained by them at an unheard of salary. They are also the big donors to Lieberman, I think.

(I'm not selling anything. I have 15 years until retirement, and I have small mutual fuund and stock holdings. My husband just started buying in his 401K with a new company, so I told him he might as well stay in and keep buying at a low price.)

I would like to see Rubin discredited. That would be satisfying. I think he is as big a crook as Clinton.

186 posted on 07/22/2002 12:25:57 PM PDT by Miss Marple
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To: steveegg
Gotcha...I should have known that..but kudos to them for keeping it updated. It beats clicking on the sidebar of AOL every two minutes. ;-)
187 posted on 07/22/2002 12:26:28 PM PDT by DJ88
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To: DJ88
True. BTW, Dow -73, NASDAQ -17, S&P -13. The Dow has VERY little connect with the market as a whole right now.

It was a good race yesterday.

188 posted on 07/22/2002 12:29:26 PM PDT by steveegg
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To: G.Mason
Sorry G.Mason but you're missing the point. He does not have a binary decision - either for "responsibility" or for "corruption." The fact is that the GOP and the Dems are playing a game of "can you top this" in punishing the capitalists. This witch hunt and legislation feeding frenzy is hurting the markets as it will become more and more difficult to operate businesses without fear or criminal liability. What ever happened to the party of smaller government? BTW, in case you forgot, that's supposed to be the Republicans....;-)
189 posted on 07/22/2002 12:30:51 PM PDT by Wyatt's Torch
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To: Lazamataz
"I'm thinking of franchising my Rent-Begging..."

Say, aren't you infringing on the gubmint's turf???

Or at least poaching a little on the well-known Chitown Reverend's trapline??

Stick to the car-wash, Laz; at least YOUR hands will be clean.
190 posted on 07/22/2002 12:31:24 PM PDT by headsonpikes
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To: Miss Marple; Southack
I tend to think so. Wasn't Rubin the guy who set up the PPT? If so, then it could be very interesting. We know he tried to keep Enron afloat.

I also think that Southack is right about the overperforiming economy *see post 181). It's gonna be kinda wild, but I think the worst is over. The real key is how folks react to the August 14 deadline on the balance sheets.

It seems the ghost of Frank Jack Fletcher is haunting some folks here (and I will admit, I need to exorcise that ghost to an extent, particularly when looking at certain situations - like the elections, but it never hurts to keep their capabilities in mind). We need to come out with some sort of offensive and soon. And the 401(k) statements come out in October - Zogby thinks that could be a BIG factor. If people get ticked about that, we might have trouble, so we need to explain what is going on in plain English.
191 posted on 07/22/2002 12:32:39 PM PDT by hchutch
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To: steveegg
Yes, I saw that...:-) Up and down and up and down. I feel like I'm on a rollercoaster.

I enjoyed the race yesterday. However, I found it just a tad bit comical that the cars kept hitting the same exact part of the wall. Did they break the caution record of 17? I'm thinking they might have since I didn't watch the end of it...and HOW did Ward Burton end up winning it??? ROFLOL...

192 posted on 07/22/2002 12:32:44 PM PDT by DJ88
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To: steveegg
The Dow has VERY little connect with the market as a whole right now.

Yep....the DJ usually neither rises or falls as quickly as the S&P or more so as the NASD.

193 posted on 07/22/2002 12:34:13 PM PDT by wardaddy
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To: wardaddy
All the hot money was in the Nasdaq on the way up....now the Dow is being sold to meet the Nasdaq margin calls...
194 posted on 07/22/2002 12:35:01 PM PDT by ken5050
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To: Alberta's Child
Plus a lease is an expense versus interest and depreciation on owned property.
195 posted on 07/22/2002 12:35:26 PM PDT by wardaddy
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To: headsonpikes
Stick to the car-wash, Laz; at least YOUR hands will be clean.

SUDS is down 45% in a washout.

196 posted on 07/22/2002 12:35:49 PM PDT by Lazamataz
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To: headsonpikes
Stick to the car-wash, Laz; at least YOUR hands will be clean.

Besides, with my history, my hands will never be clean.

Out, OUT, damned spot!!

197 posted on 07/22/2002 12:37:48 PM PDT by Lazamataz
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To: Lazamataz
Dropping like a stone now. DJIA now -189.75.
198 posted on 07/22/2002 12:39:18 PM PDT by aristeides
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To: All
-199.79.
199 posted on 07/22/2002 12:41:01 PM PDT by aristeides
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To: DJ88
These market curbs (on for the second time today) sure hasn't done anything.

That's what they get for repaving a track in June and running on it in July. It just came up in chunks, causing Matt Kenseth to get a flat and giving the lead to Ward with 10 to go. At least there were only 14 cautions.

200 posted on 07/22/2002 12:41:20 PM PDT by steveegg
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