Skip to comments.Panic: S&P down over 6%, Dow down over 5%
Posted on 10/06/2008 7:45:09 AM PDT by Thane_Banquo
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Here’s what you could do. With the money you now have in your 401k, you could move it into you plan’s money market account. Then you could keep contributing, because now may be a good time to buy. And that way you will continue getting your company match.
Or, you could open a Roth IRA and invest the money in a money market account or other “safe” investment within the IRA. BUT, keep contributing to the 401k up to the company match, because you don’t want to leave free money on the table.
Doesn't appear to be teeth.
Um, yeah. Um, er, good times're rollin'.
You disappeared for a while?
At your age, you should just keep putting money on a regular basis into your 401k or IRA, keep it in sound funds that you don’t need to manage often (ie, don’t bother looking at them any more than perhaps once/year) and not mess with it.
Dollar cost average.
For someone in your age bracket, the stock market just went on sale. You should avail yourself of the bargain.
stilettos don’t go with the mohawk, where is your fashion sense?
“Or, we could cause even bigger panic by the MSM shouting PANIC all over the place.”
They wouldn’t do THAAAAT would they?
Because nothing says total Anarchy like the Woz, football pads and feathers.
To quote Variety in 1929:
“WALL STREET LAYS EGG”
Looks like some of the bargain hunters are now taking some advantage of low prices.....
Free at last, free at last, thank God Almighty, you’re free at last!
Soros and his gang of hedge fund shorts. Fannie and Freddie fraud set this up.
The central argument the GOP has been making to garner support for its presidential candidates for the last twenty years, starting with Poppy Bush in 1988. The chickens have come home to roost.
The s__t we're now in demonstrates why it really is better to find candidates who actually stand for something, e.g. Duncan Hunter, Tom Tancredo, than an establishment geezer who plays to the squishy middle. Mac's been playing to them for so long, there's no way in hell he can now make a credible demonstration to prove he's not just another "mugwump."
He doesn't. Mr. Frank never misses a chance to troll for a "date."
This is not luck. This was a set up. Fannie and Freddie with CRA was teed up for a coup. Soros and his hedge fund shorts then nailed every shaky financial company with ME money.
We are witnessing a global coup.
Oops. Looks like the bailout didn’t work after all. Maybe the economic agents who power the market are not so confindent in socialism.
New Tagline: Volatility != Trend
Tough times build character and wisdom and the younger generations are short of both.
My daughter pointed that one out to me; it was in the mutual funds section and we immediately put part of an IRA into an S&P index fund. Since then we've watched it loose money for us but mutual funds are not like stocks; they're more of a 'buy-and-hold' type investment while a stock is a 'dump-it-if-it-drops' type so we're OK with it....
Please ping me next time you're in one of those chats because those are the situations I really like. For sure I'm not hoping to change anyone's mind, but it's in the act of reexamining my own understandings where I learn so much.
Thanks everyone for the good advice!
In that sense, you’re right. Kids have no idea what tough times look like and while I’m trying to teach my daughter (who is old enough to understand), it will take a reality check to get the message through.
FR Keyword: moneylist
This can be a high-volume ping list at times.
“This just in... Cramer over at NBC told everyone to sell everything as fast as possible.”
Did he yell booooyah while doing it?
“What youre seeing is a deflation as a result of de-leveraging. If this isnt turned around soon and consumers are convinced to spend, you will see at least a very bad recession.”
Yup. What you’re seeing is the massive destruction of debt by the capital markets.
Perhaps next time we’ll learn.
Full speed ahead on the orders of the rump-ranging dead-faggots-society. A taxpayer in every pot.
Back from the grave to piss on capitalism one last time. Should have been felled by AIDS in his youth.
I’m in a stock that has a buyout already done for 11.25 a share. Today it is trading for 9. I would buy all I could if I wasn’t full on in cash(oh well I’m 31).. but when the merger goes through I can go on a buying spree.. it will be like Christmas, no not in July this one will actually be at Christmas.
“This is no social crisis, just another trick day for you”.
Thank you Congress and President Bush:
I used to trade straight futures, but commodity margin prices have skyrocketed compared to what I could deal with back in 2006.
So now its hard to get in on either side of the market if you’re a little guy.
Gee Nickie , why did the market come up this afternoon ??
Stop peddling the doom and gloom.
Keep sucking down the doom and gloom kool aid peddling by Soros .
Which makes a bigger boom: an open pile of gunpowder, or a tightly-sealed can holding the same amount of gunpowder (ignited either electronically, or by cooking off, or whatever)? How about a sealed cast iron vessel?
Ever hear of the Principle of Maximum Ruin ? No ? Go read about it - you’ll soon see it in action just as they did from 29-33.
You can also thank the shorts; they’ll always put a floor under a market.
But go ahead, drink the Kool-aid; sold to you !