Posted on 10/06/2008 7:45:09 AM PDT by Thane_Banquo
Looking at hugh panic in global mkts right now. This is vey series.
Australian dollar off almost 8.6% on the day against the USD. One bank said they are seeing literally NO BIDS in the Australian dollar, which is huge considering that you can usually trade several million with the click of a mouse.
Thanks Democraps
Oh, but please don't forget to thank Bush, McCain and company.
It’s nice to be a RINO. You can spend and blame the Democrats.
and hannity will still gush all over you
nonsense. speculators simply play on the weakness of government’s mistakes.
without the bailout there would be dinosaurs running all over town. see? there are no dinosaurs so the bailout worked!
Don't pay attention to everything Goldman says. They tend to overshoot.
They were forecasting that oil would go to $200/barrel. Its high was $147.
Hope you made out ok. Had a gut feeling about 1 1/2 years ago and did the same thing then. I also advised an elderly family member to do the same and we are both very relieved about the decision. Enjoy paradise for us!
If you had purchased $1000.00 of Nortel stock one year ago, it would now be worth $49.00.
With Enron, you would have $16.50 left of the original $1000.
With WorldCom, you would have less than $5.00 left.
If you had purchased $1000.00 of Delta Airlines stock you would have $49.00 left.
If you had purchased United Airlines, you would have nothing left.
If you had purchased Lehman Brothers, you would have nothing left.
If you had purchased Merrill Lynch, you would have $2.00 left.
If you had purchased AIG, you would have $5.00 left.
If you had purchased Washington Mutual, you would have nothing left.
But, if you had purchased $1000.00 worth of beer one year ago, drank all the beer, then turned in the cans for recycling, you would have $214.
Based on the above, the best current investment advice is to drink heavily and recycle.
This is called the 401-Keg Plan
Sighhhhhhhhhhhhh—Yep, you’re right. McCain, like the rest of lemmings, went right off the cliff on this issue.
It will be interesting, now that the bail out card has been played by Washington Pols, to see what “plan B” is. About all the bail out bill did was provide a “get out of jail free” card to the Wall Street, lending community and politicians who brought us this brave new world. Oh, it did one other thing—it protected a dem voter segment. This is the segment of people who “bought” homes they knew they could not afford.
I’ve finally reached the point where if our retirement savings goes any lower, I will not sleep well at night. The panic has set in and I’m selling.
Will you tell us when you think the market has reached bottom, when that time comes? Then we’ll buy back in. :-)
Enjoy your money while you have it. LOL
“What do you bet the down rises sharply in the Spring of 2009.”
Guaranteed lock - the market is going to bottom this month.
The VIX is off the charts. Major industrials like GE are at 10 year lows.
My portfolio has gone to cr*p with companies in energy sector that have been more than halved in a month.
It’s too late to sell. Once the weak hands have thrown in the towel, we rebase.
We will have a recession of a few quarters, but markets are leading indicators. This is a lot like 1987.
The time to buy big is near (if we are not already at it).
Why in the world would you sell now and buy back if they recovery? That is a very dumb move.
You only lose money if you sell.
“Cramer over at NBC told everyone to sell everything as fast as possible.”
WHAT A PUTZ.
But FWIW it is a great buy signal. He was a big tech bull in Feb 2000 at the top.
Cramer is a Democrat. He is probably shilling for Obama.
I think Tuesday will be the bottom/ turnaround day. Waves like this take 3 days.
Buying GE @20, you get $2 in core earnings, PE of 10. Even with a recession in 2009, there will be recovery after and that’s a 40 stock in 2-3 years, or 30%/yr return.
This is one of the best buying opportunities. It is time to BUY BUY BUY. Not SELL SELL SELL.
Pillars of the J6P economy: Booze, Cars, Guns and Broads.
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