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Old 05-08-2010, 11:41 AM
 
Location: SC
9,101 posts, read 15,745,257 times
Reputation: 3616

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Quote:
Originally Posted by NCyank View Post
^ This.

emilybh is obviously a glass half empty type of gal if this is considered the stock market 'tanking'. Good heavens....how did you make it through 2008?
You're entitled to your opinion. I'm just stating what happened. You can choose to ignore it and think everything is hunky dory if you want. The fact is that it was something like the largest single day drop in history and rather than go up yesterday it went back down some more... and for your information I was mostly on the sidelines in 2008. I saw it coming and got out as I did this time as well since I follow the market.

http://finance.yahoo.com/echarts?s=D...urce=undefined

The chart above illustrates where an exhange traded fund that mirrors the DOW has been trading this month. You can see that on Thursday it dropped from having traded above $112/share down to below $100 or more than a 10% drop. It regained about half of that by the close of that day. The next day you can see it traded two points lower.

This time, we were due for a pull back anyway because we had an unusual number of up days and weeks in a row--but not like THIS and not so quickly. From the chart below you can see on Friday the Dow was at the levels it was at in 2005-2006. You can also see beloe that it dropped to lower than it traded at any time in the last 12 years on Thursday. We could bounce back (hopefully) or we could retest the lows. If we do the latter the media will have a hard time spinning a story that the economy is recovering like they say.

http://finance.yahoo.com/echarts?s=D...urce=undefined

However weakness in the stock market today in 2010 in some respects is worse than what happened in 2008 especially since the market hadn't even fully regained its highs of 2008 before Thursday.

In 2008 Congress hadn't gone as crazy with the spending and the bailouts as they have today; unemployment wasn't as high as it is today; inflation wasn't as bad as it is today. When we have Congress spending like drunken sailors; Ben Bernanke printing money out of thin air and a Federal Reserve who behind our backs is taking our tax dollars to bail out other countries, it doesn't help to have stock market corrections. It just adds insult to injury.

Last edited by emilybh; 05-08-2010 at 12:30 PM..
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Old 05-08-2010, 11:45 AM
 
Location: SC
9,101 posts, read 15,745,257 times
Reputation: 3616
Quote:
Originally Posted by manderly6 View Post
I'm talking about the Dow. Which is what this thread was about.
The entire market dropped, the Dow the S&P which is a broader indicator and better representation of the entire market and the NASDAQ and the other lesser known indicators.
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Old 05-08-2010, 11:54 AM
 
Location: SC
9,101 posts, read 15,745,257 times
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Quote:
Originally Posted by Momma_bear View Post
If you have a need for a large amount of cash in the short term you have no business having that money in the stock market. Our down payment money is in the BANK.
I'm not talking about those people who were going to close on a house in the near future or who were under contract. I'm talking about those with longer time horizons.
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Old 05-08-2010, 12:36 PM
 
Location: Columbia, SC
10,559 posts, read 20,538,864 times
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Quote:
Originally Posted by emilybh View Post
I'm not talking about those people who were going to close on a house in the near future or who were under contract. I'm talking about those with longer time horizons.
The answer is still no.
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Old 05-08-2010, 03:19 PM
 
Location: NJ
17,578 posts, read 44,174,132 times
Reputation: 16243
Quote:
Originally Posted by emilybh View Post
You're entitled to your opinion. I'm just stating what happened. You can choose to ignore it and think everything is hunky dory if you want. The fact is that it was something like the largest single day drop in history and rather than go up yesterday it went back down some more... and for your information I was mostly on the sidelines in 2008. I saw it coming and got out as I did this time as well since I follow the market.
Get a grip. It was a huge drop that was mostly due to a glitch. And it corrected itself in a very short period of time. You keep talking like the market closed down a thousand points. It was down 300 points.
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Old 05-09-2010, 02:51 AM
 
1,337 posts, read 2,270,960 times
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with or without the glitch. The market has been declining in recent days.
a declining stock market has effects on all aspects of economy: consumer confidence, employement, real estate market...etc.

Last edited by Scott456; 05-09-2010 at 04:08 AM..
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Old 05-09-2010, 04:22 AM
 
2,024 posts, read 5,062,783 times
Reputation: 1998
Lol at the people who think the stock market went down due to a glitch. Instead of a intentional crash to avoid being audited. The powers that be want to keep this schell game going as long as they can, but even Brian Williams knows that this will not end well.
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Old 05-10-2010, 02:25 AM
 
96,861 posts, read 95,537,163 times
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boy you folks should have been around for the crash of 1987 when we fell 26% in one afternoon. talk about speculation about what happened

when the smoke cleared the dow was at 1635...

well here we are at dow 10,000 after the worst recession in modern times..

long term all who stick it out will do well , the markets are still the best long term growth area.

in 1987 when i bought my house for 169,000 i thougtht i did great when i sold it for mid three hundred thousands a few years ago.

the same money in the nothing special mix of fidelity funds i have followed in a newsletter is worth just under 2 million over the same time frame..

short term paying attention to all these glitches, drops, world events will drive you nuts. long term 15 years or more im sure everyone would love their returns.

its soooooo spooky how pulling out any 15 year periods of time no matter what the world events how the markets smooth out to within 1% returns of each other.

everyone has to do what lets them sleep at night so if long term your going to worry, predict whats next or think your going to outsmart the markets by guessing its next move then maybe the markets arent for you....

Last edited by mathjak107; 05-10-2010 at 02:47 AM..
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Old 05-10-2010, 07:12 AM
 
10,261 posts, read 14,354,596 times
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Quote:
Originally Posted by emilybh View Post
... and for your information I was mostly on the sidelines in 2008. I saw it coming and got out as I did this time as well since I follow the market.
So you got out before the drop in 2008 and you got out again before the drop in 2010. Funny, I don't see a comment about when you got back in between those two events. People always write that they were prescient enough to get out but never write back in to say they are calling the bottom and getting back in the market. Why is that? They also never say in advance that they are getting out. It is always after the fact. How convenient.

BTW, did you get back in before the huuuuuuge upswing in the European markets and all U.S. indices this morning? I didn't think so.

That's the problem with trying to time the markets: you have to be right twice.

Edit to add: According to CNBC, the markets are headed for their third largest opening in history. How's the view from the sidelines?

Last edited by MadManofBethesda; 05-10-2010 at 07:23 AM..
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Old 05-10-2010, 07:20 AM
 
Location: NJ
17,578 posts, read 44,174,132 times
Reputation: 16243
Quote:
Originally Posted by 73-79 ford fan View Post
Lol at the people who think the stock market went down due to a glitch. Instead of a intentional crash to avoid being audited. The powers that be want to keep this schell game going as long as they can, but even Brian Williams knows that this will not end well.
Thanks. Got my day started off with a nice chuckle.
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