DJIA and all other markets are plunging again - Chicagoland Sportbikes
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post #1 of 16 (permalink) Old 10-10-2008, 09:57 AM Thread Starter
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DJIA and all other markets are plunging again

Is this ever going to stop??
Its down 200 points already

Mike

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post #2 of 16 (permalink) Old 10-10-2008, 10:03 AM
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It was below 8000 a few mins. after the open. It is going to be bloody today. I expect a up and down motion all day and then a sell off at the end. In these unsure times nobody wants to hold on to anything over the weekend. This is just my guess at least. Traditionally Oct. is a pretty bad month where lots of selling happens, but with the bad economic news this one is particularly bad.

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post #3 of 16 (permalink) Old 10-10-2008, 10:04 AM
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We've been taking bets in the office, on how far the DJIA will drop before it finally bottoms out. I'm thinking around 5k.
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post #4 of 16 (permalink) Old 10-10-2008, 10:13 AM
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We've been taking bets in the office, on how far the DJIA will drop before it finally bottoms out. I'm thinking around 5k.
I thought 8700 but unfortunately I was wrong. This is to the point where it is entertaining. Years and years worth of gains gone in a few weeks. Years ago I would have had a bleeding ulcer, now I just laugh at how fucked we are. There is nothing we can do but sit back and watch the carnage. Years ago I pretty much accepted that social security would run out before I get to use it and now it looks like my good planning for my retirement is dashed too. In a masochistic way I really wish I had extra cash to trow into the market right now. In the long run (7+ years) these are the times you want to buy.

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post #5 of 16 (permalink) Old 10-10-2008, 10:20 AM
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Bah I have 30 + years to work anyway. It will come back and grow before I can tap into it any way. So its sit back and enjoy the ride. Its gona be bumpy.

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post #6 of 16 (permalink) Old 10-10-2008, 10:21 AM
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Yeah, I lost a large portion of my investments, but I'm at the point now where I want to see how low the market can go...
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post #7 of 16 (permalink) Old 10-10-2008, 12:30 PM
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Oil now at 79.84 a barrel... Even the oil companies are taking it up the ass right now

...plus my gf was with me saying "omg slow down, slow down" and I was thinking "Lose annoying squalk box in passenger seat, afford more mods and have less weight in the car and on the back of the bike"...so i dumped her and I'm single again as usual...HERE KITTY KITTY!!!
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post #8 of 16 (permalink) Old 10-10-2008, 12:35 PM Thread Starter
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I got gas for $3.29 a few days ago
I drove away quick as I felt I was stealing!!

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post #9 of 16 (permalink) Old 10-10-2008, 01:25 PM
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post #10 of 16 (permalink) Old 10-10-2008, 02:03 PM
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nice buying opportunity in a few months for the portfolio. those with cash will come out pretty rosy
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post #11 of 16 (permalink) Old 10-10-2008, 02:13 PM
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nice buying opportunity in a few months for the portfolio. those with cash will come out pretty rosy
+1 Cash The buying opportunity will be late next week. Mark my words...

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post #12 of 16 (permalink) Old 10-13-2008, 04:30 PM Thread Starter
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all markets up sharply today - any thoughts on what Tuesday will bring?

https://www.fidelity.com/

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post #13 of 16 (permalink) Old 10-13-2008, 04:39 PM
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all markets up sharply today - any thoughts on what Tuesday will bring?

https://www.fidelity.com/

hopefully a little pullback of the buy on the rumor sell on the news type. Anything else is too far too fast. I want a come back, but it's got to be technically healthy and not reverse capitulation. Otherwise, I think we could head back down again.

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post #14 of 16 (permalink) Old 10-13-2008, 04:40 PM
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Quote:
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hopefully a little pullback of the buy on the rumor sell on the news type. Anything else is too far too fast. I want a come back, but it's got to be technically healthy and not reverse capitulation. Otherwise, I think we could head back down again.
Exactly what I was gonna say. especially the part about capitulation.




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post #15 of 16 (permalink) Old 10-13-2008, 05:18 PM
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Quote:
Originally Posted by Meulen View Post
hopefully a little pullback of the buy on the rumor sell on the news type. Anything else is too far too fast. I want a come back, but it's got to be technically healthy and not reverse capitulation. Otherwise, I think we could head back down again.
Dead cat bounce... a lot of people don't have money sitting off to the side to start buying back in; and down it will go again.

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post #16 of 16 (permalink) Old 10-13-2008, 05:53 PM
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Exactly what I was gonna say.
Exactly. Those who may have lost 70% of the value of their stock last week may sell once they get 50% of the loss back. If you have extra money and a year or two, three, four window buy now and you will be laughing later. If you want to day trade or hold for a month god help you.

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