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Author Topic: Dow up 950+ points  (Read 854 times)

Offline Bosco123

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Dow up 950+ points
« on: October 13, 2008, 03:03:05 PM »
Amazing, what a great start. Maybe, just maybe, we are starting to turn around from the down turn.
WOOT!
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Offline Bodhi

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Re: Dow up 950+ points
« Reply #1 on: October 13, 2008, 03:56:11 PM »
Until people stop panicing, it will not stop it's roller coasting ride.
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Offline BnZ

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Re: Dow up 950+ points
« Reply #2 on: October 13, 2008, 03:57:37 PM »
Quote from: Bodhi on October 13, 2008, 03:56:11 PM
Until people stop panicing, it will not stop it's roller coasting ride.

Mandatory rations of strong whiskey for those who wish to trade!
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Offline Wolfala

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Re: Dow up 950+ points
« Reply #3 on: October 13, 2008, 04:10:09 PM »
Tell that to my 401K which is down 40% in the last 2 weeks.
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Offline Mickey1992

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Re: Dow up 950+ points
« Reply #4 on: October 13, 2008, 04:16:52 PM »
Ticks me off.  I could not get my Scottrade account created in time.  Funds will not be available until tomorrow because the banks were closed today.

The stock I was going to buy on Thursday is up 30% since then.   :(
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Offline Eagler

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Re: Dow up 950+ points
« Reply #5 on: October 13, 2008, 04:21:29 PM »
dead cat bounce
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Offline AWMac

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Re: Dow up 950+ points
« Reply #6 on: October 13, 2008, 04:43:01 PM »
Come Thursday the carpet will be pulled out from under you all.
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Offline Bodhi

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Re: Dow up 950+ points
« Reply #7 on: October 13, 2008, 04:45:28 PM »
Quote from: Wolfala on October 13, 2008, 04:10:09 PM
Tell that to my 401K which is down 40% in the last 2 weeks.

Move it and lose it.  Mine is down about the same too.  Thankfully I do not need to remove it to retire at this point.  It will recover, it just takes time. 
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Offline lasersailor184

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Re: Dow up 950+ points
« Reply #8 on: October 13, 2008, 05:50:18 PM »
Quote from: Wolfala on October 13, 2008, 04:10:09 PM
Tell that to my 401K which is down 40% in the last 2 weeks.

The entire stock market system is a giant Hedge Fund.  Stocks have inflated values WAY WAY WAY past what they are actually worth.  The crash was going to come sometime.



It's not our fault if you didn't know any better.
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Offline Wolfala

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Re: Dow up 950+ points
« Reply #9 on: October 13, 2008, 06:10:19 PM »
Quote from: lasersailor184 on October 13, 2008, 05:50:18 PM
The entire stock market system is a giant Hedge Fund.  Stocks have inflated values WAY WAY WAY past what they are actually worth.  The crash was going to come sometime.



It's not our fault if you didn't know any better.

Well,

Seeing as how I don't physically control the 401K on what investment vehicles they use - please take this in the spirit in which it was intended.

Go to hell :)

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Offline Sixpence

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Re: Dow up 950+ points
« Reply #10 on: October 13, 2008, 08:20:40 PM »
I would just like to say I thought GM stock was a bargain a few days ago


But hey, i'm no genius, I took the 49ers this week :furious
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Offline Shamus

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Re: Dow up 950+ points
« Reply #11 on: October 13, 2008, 09:32:01 PM »
I think we need to privatize social security after we include all public employee pensions into it  ;)

shamus
« Last Edit: October 13, 2008, 09:33:42 PM by Shamus »
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Offline Nwbie

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Re: Dow up 950+ points
« Reply #12 on: October 14, 2008, 10:39:47 AM »
The biggest gains in the stock market occured during the depression, but again - it ain't the stock market ...
It is the banking industry, ignore the stock market and pay attention to how the banking industry is doing, then you will know if it is being held in reign.

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Offline lasersailor184

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Re: Dow up 950+ points
« Reply #13 on: October 14, 2008, 04:57:39 PM »
Quote from: Wolfala on October 13, 2008, 06:10:19 PM
Well,

Seeing as how I don't physically control the 401K on what investment vehicles they use - please take this in the spirit in which it was intended.

Go to hell :)



But you did choose to invest in it right?  And at the end, you expected to get money for very little effort, right?
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Punishr - N.D.M. Back in the air.
8.) Lasersailor 73 "Will lead the impending revolution from his keyboard"

Offline humble

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Re: Dow up 950+ points
« Reply #14 on: October 14, 2008, 07:16:00 PM »
The big problem is that the stock market wasn't right last week and isn't right this week either. Last week I said that if the market didn't find a floor Monday we were in for a massive continuation until we hit the 7200-7500 mark.

The "rebound" is as much of an over reaction as the fall was. Whats hidden behind all the hype is the fact that banks world wide are in massive trouble due to the amount of bad debt and low underlying asset bases. So the reality as I see it is that a fundamental correction of 30-40% is still out there. This could be good if we get a controlled deleveraging...or bad if we get another shock (which is what I think will happen). To many domino's are hanging and the events since the initial fall show that its worse then originally thought. Basically we were in a ditch before and its possible this "recovery" flared us out far enough over the true "runway" that we're gonna truely screw the pooch on this one....my prediction is 5,000 by march of 2009.
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