Posted on 02/27/2007 12:03:41 PM PST by cgk
Edited on 02/27/2007 3:25:19 PM PST by Admin Moderator. [history]
I often wonder how such panics happen, when people in the market know that there's money to be made longterm. Can't be THAT many people retiring this year who need the safety of their investments guaranteed asap.
Well, what are we waiting for. Get the crowbars and head to Bill's and Bob's houses!
ROFL Thats good.
Everything is on sale!
>>>what was the impetus?
A lot of factors.
1. Chinese market dropped 8.8% today.
2. Durable goods number indicated Q1 growth not growing as fast as we thought.
3. Concerns that downward reivosions of 4Q GDP that will be released tomorrow will come in less than the consensus figure of about 2.5%
4. Strength in the Yen is raigin concerns about the unwinding of the carry trade.
The MSM now figures it's time to cover the economy.
I know, I'm just interested in looking at such responses, and don't have the will to sift through a lot of the back and forth and non sequiters (sp) in such threads.
Down like an elevator, up like an escalator. So who cashed out at 2:58?
Doing the same here.
I don't think a move against the Iran would help the markets at all, since Iran has made clear that the first thing it will do is try to choke off the Strait of Hormuz. There would be at least a temporary interruption to oil supplies, which will spike gas prices and depress consumer spending.
Which is not to say it might not be worth it, but I do not see it helping the markets one bit.
I called my broker and bought another $20k right after it dropped 500, I will probably have made a few thousand by tomorrow's close.
The dishonesty of our elected officials, their need to make political hay over national interests, never ceases to astonish.
"I often wonder how such panics happen, when people in the market know that there's money to be made longterm."
There's a huge portion of the margin that just rides the crest (e.g., some insurance companies) who are trying to squeeze out the last dollar to whom this BS is very significiant.
And there are sheep who follow the crowd.
If you are a shmoe investor who puts in his $15K/year in your 401K, ignore this.
I've got a fair amount in mine...but it's 20 years away. The market has always performed in the long haul. Nevous nellies can get out. However, what you want to bet that all the people who haven't even mentioned the roubust Bush Economy are now going to be standing in line to call it the "Bush Crash".
I went in another $20K at about 3:02.
I'd like to talk to the one who cashed out yesterday and bought in at 3:00.
Anybody know what stocks did best today? Which did the worst?
I know Ford took a beating. down 7.66% as I write,
the market is down 355 - 2.66% (dowjones that is)
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