Posted on 05/25/2010 4:41:23 AM PDT by TigerLikesRooster
Stocks set for big selloff
By CNNMoney.com staffMay 25, 2010: 7:25 AM ET
NEW YORK (CNNMoney.com) -- U.S. stocks were poised to fall sharply at Tuesday's open as a selloff in global markets rattled confidence.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were down about 2%.
(Excerpt) Read more at money.cnn.com ...
Nasdaq -42.00 / -2.32%
Level 1,770.50
Fair Value 1,814.06
Difference -43.56
Dow -218.00 / -2.17%
Level 9,825.00
P!
Figures...just when I get my new 401K set up.
I haven’t been to sleep yet. Course, I’m out west. lol Been watching this all night long.
Numbers have been pretty consistent, ever since blam made a post about it hours ago.
This could be a rather interesting day, I’m thinking.
let it keep dropping. You’ll get your money’s worth.
Buy low, sell high!
:)
Well I’m not eligible to buy my company stocks for a few more months so maybe I’ll get a bargain then. :0)
I stopped contributing to my 401K in September of 08 when the market started crashing and haven’t been back in since. Don’t know if that was a wise decision or not, really.
Let me be the first to add the obligatory - “Bush’s Fault”.
... and it’s already down to 392K. *poke*
So how’s that hope and change working out for everyone?
That should take it back down to about the point it was during that “fat finger” 1000 sell off that had everyones jaws dropping.
“unexpected”
Thank you DIMJs/LIBs/nobama. I just enjoy the sinking feeling of watching my hard-earned investment shrink. Thanks a lot.
When calamity comes, the wicked are brought down, but even in death, the righteous have a refuge. Proverbs 14:32
Don’t you feel better now that they’re “spreading the wealth around”?
I’m gonna pick up some more AGQ today. Can’t go wrong buying double-long silver on futures option expiration, the way they have always beaten it down almost every month the past year.
Lol, I just got up. Waiting for the opening.
Oh that’s just our 401k’s and home values, the last hour of the day is business trading, it will roar back then...billions to be made don’tchaknow?
LOL...between you and me, we’ve got the bastards covered 24/7. heh
I should have been in bed an hour ago, though. But the urge to see the opening 15 minutes today was more than I could stand. But that and no more, as I have to be someplace in 5 1/2 hours.
:)
Aren't we someplace all the rest of the world's scared money can go "for now"? Or is that over too?
We must be the sort of folks who try to politely cover our eyes when we pass a train wreck, but at the last moment...PEEK.
*drops mouse*
*guilty look on face*
*gazing at slippers*
;)
Now that was ugly.
Since I’ve seen the carnage, I’m officially blowing the whistle on the two minute warning....for me. LOL
You paint a cute picture...
but it’s true!
:)
Every case is unique but generally it isn't a good idea to buy the company stock. Even if it is discounted, the discount requires a holding period in which you could be screwed by the market.
I went from all equities (Index funds) to all cash based back in December of 2006, when the S&P was at 1420.
Here it is coming on 5 years later and I have not put one red cent back to work in the market.
Never in my wildest dreams or nightmares did I think I would still be on the sidelines for over 4 years later. Just incredible.
If the S&P Index falls to well below 700
I honestly in my heart of hearts think the S&P index should be hovering around 800 in reasonably good economic circumstances. In the hellish mess we currently find ourselves, I think the S&P belongs around 650. I don’t plan to get back in until it ocmes down to around those levels.
That doesn’t mean I won’t dabble on a sure thing. Bank of America looked like a sure thing at$4/share and indeed it was. So was oil under $40/Bbl.
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