Dow Jones Industrial Average below 8,000

[Kangaroo]

It has rebounded some but was hammered hard again as more and more people panic


Here is an exert (see link for full story)

U.S. stocks on Friday tallied losses for an eighth consecutive day but rebounded from a plunge at the open that had the Dow Jones Industrial Average below 8,000 for the first time in more than five years, as fears escalated that the trauma in the credit markets could be paving the way toward a global recession.

http://money.cnn.com/news/newsfeeds/articles/djf500/200810101211DOWJONESDJONLINE000708_FORTUNE5.htm

[Doomsday101]

It has rebounded some but was hammered hard again as more and more people panic


Here is an exert (see link for full story)

U.S. stocks on Friday tallied losses for an eighth consecutive day but rebounded from a plunge at the open that had the Dow Jones Industrial Average below 8,000 for the first time in more than five years, as fears escalated that the trauma in the credit markets could be paving the way toward a global recession.

http://money.cnn.com/news/newsfeeds/articles/djf500/200810101211DOWJONESDJONLINE000708_FORTUNE5.htm


Damn Cowboy fans in the stock market. :lmao:

[masomenos]

http://www.reuters.com/article/topNews/idUSTRE4991X720081010

Due to the plunging stock market, Bill Gates has lost 1.5 billion dollars in the past month. Ever the genius, Warren Buffet's value has increased by 8 billion.

[Bach]

Hmmm. I take it Obama must still be leading in the polls.

[BrAinPaiNt]

http://www.reuters.com/article/topNews/idUSTRE4991X720081010

Due to the plunging stock market, Bill Gates has lost 1.5 billion dollars in the past month. Ever the genius, Warren Buffet's value has increased by 8 billion.

Don't know if it was you or someone else that said Buffet said something along the lines of Be fearful and sell when people get greedy and get greedy and buy when people are fearful.

I guess it works for him, although I don't know if Gates is in the business of buying stocks.

[masomenos]

Don't know if it was you or someone else that said Buffet said something along the lines of Be fearful and sell when people get greedy and get greedy and buy when people are fearful.

I guess it works for him, although I don't know if Gates is in the business of buying stocks.

I think it was Theo that said that. Buffet certainly knows what he's doing when it comes to money and I thought it was interesting that Obama mentioned him as the possible treasury secretary during Tuesdays debate.

[peplaw06]

Damn Cowboy fans in the stock market. :lmao::lmao2:

[ABQCOWBOY]

I think it was Theo that said that. Buffet certainly knows what he's doing when it comes to money and I thought it was interesting that Obama mentioned him as the possible treasury secretary during Tuesdays debate.


Will be interesting to see, if Obama does win, if he actually selects Buffet or not.

[joseephuss]

Will be interesting to see, if Obama does win, if he actually selects Buffet or not.

Would Buffet accept the position? Would he want to for either McCain or Obama? It would be an interesting pick for either guy.

[adamc91115]

I'm telling you guys...

If you do your research, now is the time to buy.

[Kangaroo]

I'm telling you guys...

If you do your research, now is the time to buy.

That is why I have no panicked in my 401k etc I getting bargin rate on my plans so when the stock rebounds in 12 years I will own

[JBond]

http://www.reuters.com/article/topNews/idUSTRE4991X720081010

Due to the plunging stock market, Bill Gates has lost 1.5 billion dollars in the past month. Ever the genius, Warren Buffet's value has increased by 8 billion.

Why did we need the $700 billion buy out? Looks like the free market is still the best answer. Elimination of the capital gains tax would fix this whole thing real fast. Let the people who have the money use it. Instead the dems in congress wants to punish people for successful investing. Craziness.

Oh well...common sense is not that common.

[Doomsday101]

I'm telling you guys...

If you do your research, now is the time to buy.

Many are saying once investors feel it has hit bottom then the buying will take place until then there is still some risk

[Maikeru-sama]

I'm telling you guys...

If you do your research, now is the time to buy.

Good.

Now lend me some money so I can :D .

[CanadianCowboysFan]

Many are saying once investors feel it has hit bottom then the buying will take place until then there is still some risk

problem is, with the feeding frenzy, no one knows when that bottom will be.

Take for example the Canadian dollar. About 10 days ago, it was trading at over .96 of the US dollar. Today it dropped to under .83 but rebounded to near .85. There is no legitimate reason for such a drop, none of our banks have failed, been bailed out, but the feeding frenzy is out there.

The NA stock markets lost 15-20% this week, totally ridiculous.

Buying is never as bad a frenzy as the selling.

This is a buying opportunity but credit will be tighter now, mutual fund companies have lost a lot of cash, so they have no ability to buy etc

It might be some time before we are back to the levels we were, and it certainly will take longer to get back up there than it did to come down.

[Doomsday101]

problem is, with the feeding frenzy, no one knows when that bottom will be.

Take for example the Canadian dollar. About 10 days ago, it was trading at over .96 of the US dollar. Today it dropped to under .83 but rebounded to near .85. There is no legitimate reason for such a drop, none of our banks have failed, been bailed out, but the feeding frenzy is out there.

The NA stock markets lost 15-20% this week, totally ridiculous.

Buying is never as bad a frenzy as the selling.

This is a buying opportunity but credit will be tighter now, mutual fund companies have lost a lot of cash, so they have no ability to buy etc

It might be some time before we are back to the levels we were, and it certainly will take longer to get back up there than it did to come down.

I agree. No one knows when the big dogs will start swooping in and grab up stock at a cheap price. As one analyst was saying last night you need a strong stomach to do this for a living. Depending on what you are looking at investing in this can be a good time, some of the more risky stocks maybe not.

[ZB9]

Obama being up in the polls probably doesnt help the markets' confidence much overall either

[masomenos]

Why did we need the $700 billion buy out? Looks like the free market is still the best answer. Elimination of the capital gains tax would fix this whole thing real fast. Let the people who have the money use it. Instead the dems in congress wants to punish people for successful investing. Craziness.

Oh well...common sense is not that common.

The bailout was the safest option for the most people and it will most likely turn a profit for the government as opposed to just the CEOs of non-failed firms who are able to buyout failing institutions. Companies are still free to go out an "bailout" other companies by buying them out, as far as I know there haven't been any restrictions placed on that. With the bailout the government is simply entering the free market as its own entity and it will reap the probable benefits.

As long as the oversight is done correctly the profit can be rolled back to the American people or it can be reinvested as a means of providing government debt relief. The bailout was the right thing to do and in 15 or 20 years people will look back and realize that.

[adamc91115]

Good.

Now lend me some money so I can :D .

You don't need a lot of money to make a lot of money in this market.

Just do a little research around the internet... There are TONS of bargains right now with major stocks in the $3-$6 range.

[trickblue]

Damn Cowboy fans in the stock market. :lmao:

Exactly... TO is down... Romo is down... our CB's are down... lack of INT's...

SELL... SELL... SELL...

[JBond]

The bailout was the safest option for the most people and it will most likely turn a profit for the government as opposed to just the CEOs of non-failed firms who are able to buyout failing institutions. Companies are still free to go out an "bailout" other companies by buying them out, as far as I know there haven't been any restrictions placed on that. With the bailout the government is simply entering the free market as its own entity and it will reap the probable benefits.

As long as the oversight is done correctly the profit can be rolled back to the American people or it can be reinvested as a means of providing government debt relief. The bailout was the right thing to do and in 15 or 20 years people will look back and realize that.

That is socialism pure and simple. This is America not Venezuela or Russia. This is not how America is supposed to work. This is the type of acts third world dictators and failed communist countries take. Not America.

The fact you trust the same people who created this problem to fix it shows your naivety.

[masomenos]

That is socialism pure and simple. This is America not Venezuela or Russia. This is not how America is supposed to work. This is the type of acts third world dictators and failed communist countries take. Not America.

The fact you trust the same people who created this problem to fix it shows your naivety.

This is a socialist move, you're right.

The right to enact Marshall Law is very totalitarian smacks of fascism. The ability to declare Marshall Law is meant as a protection of the people though. While it itself is not party of the ideology of democracy it is in place to ensure that our nation is able to continue being free. The bailout is the same thing, it's a protection against failing markets that could have severely impacted a large number of Americans. History has shown that swift action is required to minimize damage and that's what our government did. In the long run it's for the best.

[ABQCOWBOY]

That is socialism pure and simple. This is America not Venezuela or Russia. This is not how America is supposed to work. This is the type of acts third world dictators and failed communist countries take. Not America.

The fact you trust the same people who created this problem to fix it shows your naivety.


Mas, oversite can not be done correctly. That's the problem right? In order for this bailout to be effective, the money has to be infused into the economy fairly quickly. How is oversite going to be set up in time to properly manage this bill? Even if by some miracle, oversite is set up, they are still reporting to the same people who were involved with the BS in the first place so far as I can tell. The Government has a very poor record on managing anything. This, IMO, will be no different. I doubt we will ever see any of this pay off. Heck, this group is already using this money in ways that were never intended. They using it to buy securities, which ws not, as I understood it, what it was intended for.

[CanadianCowboysFan]

That is socialism pure and simple. This is America not Venezuela or Russia. This is not how America is supposed to work. This is the type of acts third world dictators and failed communist countries take. Not America.

The fact you trust the same people who created this problem to fix it shows your naivety.

Damn man, US governments have had farm subsidies, grain subsidies, sugar etc, does that mean the US is a socialist country?

In the end, the market failed.

[ABQCOWBOY]

Damn man, US governments have had farm subsidies, grain subsidies, sugar etc, does that mean the US is a socialist country?

In the end, the market failed.

No. This is not correct IMO. In the end, people took unlawful advantage of the market. Perhaps you may see this as nitpicking but to me, the principles did not fail. When McCain said that the priciples of the economy are fine, he was not wrong. People took advantage of it and broke it. That is an important distinction to me.

[masomenos]

Mas, oversite can not be done correctly. That's the problem right? In order for this bailout to be effective, the money has to be infused into the economy fairly quickly. How is oversite going to be set up in time to properly manage this bill? Even if by some miracle, oversite is set up, they are still reporting to the same people who were involved with the BS in the first place so far as I can tell. The Government has a very poor record on managing anything. This, IMO, will be no different. I doubt we will ever see any of this pay off. Heck, this group is already using this money in ways that were never intended. They using it to buy securities, which ws not, as I understood it, what it was intended for.

Oversight can't be perfect, you're right. Even if we don't see a penny of return (and I don't think that will be the case) then the money still needed to be spent. Without the bailout credit freezes would likely be much much longer and it could have had dire consequences for the economy. Far worse than the downturn we're seeing now.

It sucks, I know it does, but long term it will prove to have been the right decision, there's not even a small portion of me that doesn't believe that.

[Kangaroo]

Oversight can't be perfect, you're right. Even if we don't see a penny of return (and I don't think that will be the case) then the money still needed to be spent. Without the bailout credit freezes would likely be much much longer and it could have had dire consequences for the economy. Far worse than the downturn we're seeing now.

It sucks, I know it does, but long term it will prove to have been the right decision, there's not even a small portion of me that doesn't believe that.

The bailout is a joke and it is not savings us a dam thing the economy is going into the toilet regardless.

2009 is going to be a disaster no matter who wins mass layoffs and no one is going to be buying anything. They have to raise taxes to payoff the 700billion the government has no clue how to make money unless it is raising taxes.
Buy the government rasing taxes to offset the 700 billion will take even more money from people spending and bam more jobs will be lost less income to tax raise taxes again.

The Government oversight on something is a joke at best. Yea like what FEMA still paying housing for Katrinia people how many years later. I mean we can list the amount of stupidity of the Government oversighting anything

[ABQCOWBOY]

Oversight can't be perfect, you're right. Even if we don't see a penny of return (and I don't think that will be the case) then the money still needed to be spent. Without the bailout credit freezes would likely be much much longer and it could have had dire consequences for the economy. Far worse than the downturn we're seeing now.

It sucks, I know it does, but long term it will prove to have been the right decision, there's not even a small portion of me that doesn't believe that.

We'll see. Hard times are coming. I don't think this is going to do anything other then make sure certain individuals are not forced to live hard.

As I sit here and type this, the news is reporting that the Federal Government is taking steps to buy stock in Banks.

Crash and Burn is what I think will happen. I hope I'm wrong.

[MetalHead]

Yep,you guessed it,this is why.
http://www.jibjab.com/view/253615

Pass it on.