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Stock Market Downfall

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  • #16
    Re: Stock Market Downfall

    I've been plumbing my butt off to save up some money, its tempting to put it into stocks, but its for my seasnake at the next tradeshow this month. Don't think I haven't thought about it.
    The Other Rick

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    • #17
      Re: Stock Market Downfall

      It is tempting to get lost in the mindset that you need a ton of money to invest. How about making just a small investment? The percentage is the same. If someone gave me $1,000 and next year, or whenever, I gave you back $2,000 would anyone be unhappy?

      -Tom

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      • #18
        Re: Stock Market Downfall

        In a previous post someplace on the forum I suggested for consideration, Ritchie Brothers Auctioneers (RBA) as a stock I think will do well. In these economic times buying used/refurbrished equipment makes sense.

        Another I think will do well is Under Armour (UA). There will be sports and the teams will need uniforms. Will people watch sports as a form of escapeism? Not sure. But they will watch.

        I am wondering about pet foods, and beer stocks. People will feed their pets and drink beer. If I was to start a retail store I would sell only pet food and beer. My personal experience with beer stocks has been less than encouraging. The Budweiser stock I had languished for a couple years before the company was bought. Soon after the sale I sold my holdings. Now, with this economy, I am rethinking my move.

        -Tom

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        • #19
          Re: Stock Market Downfall

          Originally posted by michael stephen View Post
          someone said, if you need your money within the next 3years, start selling your stocks..
          Who is that someone, the person who wants to buy your stocks at rock bottom prices?
          ---------------
          Light is faster than sound. That's why some people seem really bright until you hear them speak.
          ---------------
          “If I had my life to live over again, I'd be a plumber.” - Albert Einstein
          ---------
          "Its a table saw.... Do you know where your fingers are?"
          ---------
          sigpic http://www.helmetstohardhats.com/

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          • #20
            Re: Stock Market Downfall

            Originally posted by DUNBAR View Post
            This all starts with Jim's words of wisdom:


            http://www.msnbc.msn.com/id/27045699/



            One of my investors predicts that the stock market will enter the 8000 mark before this is all over with.

            .
            Based on that figure, NOW is prime time for anyone with money to buy GOOD stock.

            Until George Dubbya comes to the realization thats he's gonna have to turn in a few of his buddies for causing this by lobbying for credit default swaps, the general trust of the public will be very slow in returning.

            Does this moron, Dubbya, really think the American public see's Haliburtons contracts overseas as a coincidence?

            Nobody in their right mind wants to invest in a system that caters to legal bribing by CEO's to inflate numbers and skip consumer protection laws ffor the sake of their own profit.

            I'm looking into tech stocks, Apple, IBM, M-soft, AMD are looking real good right now.

            It won't surprise me if a trend for investors to invest in companies with a proven track record for honest business practices becomes the norm.

            Oops...guess that means Microsoft might be outta the picture.

            I summed this on another forum with something Abe Lincoln once said: "You can't fool all the people all the time."

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            • #21
              Re: Stock Market Downfall

              Originally posted by Bob D. View Post
              Who is that someone, the person who wants to buy your stocks at rock bottom prices?


              For me, monday is BUY, BUY, BUY!

              Even if I buy, say, Apple...and it drops to $80 a share from the current $96, it IS going back up, there's NO way around that.
              Last edited by DuckButter; 10-11-2008, 12:27 PM.

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              • #22
                Re: Stock Market Downfall

                Originally posted by michael stephen View Post
                someone said, if you need your money within the next 3years, start selling your stocks..
                If you needed your money within 3 years, stocks were probably the wrong way to invest in the first place.

                Comment


                • #23
                  Re: Stock Market Downfall

                  I believe I heard the interview and the point was if you had the money in the market for something which was coming up within X-years (I heard 5-years) like your kids tuition you should remove it quickly to prevent heavy losses. However, if it was for a retirement 20-years from now leave it put.

                  Mark
                  "Somewhere a Village is Missing Twelve Idiots!" - Casey Anthony

                  I never lost a cent on the jobs I didn't get!

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                  • #24
                    Re: Stock Market Downfall

                    Originally posted by DuckButter View Post


                    For me, monday is BUY, BUY, BUY!

                    Even if I buy, say, Apple...and it drops to $80 a share from the current $96, it IS going back up, there's NO way around that.
                    I'm sure some folks said something similar about Montgomery Wards too.
                    www.TheWoodCellar.com

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                    • #25
                      Re: Stock Market Downfall

                      Right now, the market is where it was in the mid to late 90's at 8500 points, which ironically coincides with a couple of trends that started at roughly the same time.

                      Home sales had kept a relativel national average of 700,000 homes annually from 1963 all the way up to the late 90's.
                      They skyrocketed to never before seen numbers up to '05 where homes sales reached 1,300,000.

                      Why do ya s'pose home sales exploded like that?
                      A sheer coincidence that sub prime loans started to surface at the very same time...
                      Another odd coincidence, the DOW started to mushroom at about the same time.

                      As it turns out, CDS's - credit default swaps were magically "invented"...and can you guess when that was?

                      YUP, the mid 90's.

                      Greedy (er...I meant ambitious) execs found a real neat way to sell high risk equity stocks with the illusion that they were safe, by skipping past expensive insurance and renaming it a "credit default swap"....gotta love corporate power driven lobbyists in washington...spending money to bribe (I mean "lobby") politicians to approve these corporate goodies.

                      All that said, the market might drop more, but IF it drops to 7000 and rebounds, the odds are VERY good that the market isn't gonna stay at 8500 for very long, especially now that the Lehman auction is finally done with and we can move on.

                      Corporate America was cramming candy bars into the economy and finally last week the rush was over and we all got a taste of the finale of a sugar crash that began a year ago.

                      I'm on the fence...waiting to see how low the market might go but I risk not getting some incredible deals if it rushes back.

                      If I get too zealous and decide to wait for the market to go down more, I might wind up watching stocks I've been spying on explode monday as people who pulled their money out of bank, equity & financial stocks start flooding other parts of the market.

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                      • #26
                        Re: Stock Market Downfall

                        Originally posted by DuckButter View Post
                        I'm on the fence...waiting to see how low the market might go but I risk not getting some incredible deals if it rushes back.

                        If I get too zealous and decide to wait for the market to go down more, I might wind up watching stocks I've been spying on explode monday as people who pulled their money out of bank, equity & financial stocks start flooding other parts of the market.


                        Keep in mind though, as I have myself that if I had money to invest in this, I'd be concerned that this downfall is going to ripple to the trades like it already has.


                        You could instantly get starved out in operations of a business with money in that stock market, but at least you have something to pull from if that should come about.

                        What's amazing is how this situation is peppering the neighborhoods but then overall, everyone is pulling back some.

                        As if I was going to predict something again, I think we are going to see something bad, real bad in 2009 that will adversely affect all of us in some way or another in the big picture.

                        All I care about right now is paying down debt, all of it if I can, starting with credit cards first. That's my goal and I've already closed them down except one, just have to pay off the balances.

                        This subject always generates "Oh I've never had to use a credit card" solo responses but when you are in business, or numerous businesses in that notion, it's almost impossible to strategize without the use of quick access money at times, short of having oodles in the bank.
                        Northern Kentucky Plumbers Twitter Feed | Plumbing Videos

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                        • #27
                          Re: Stock Market Downfall

                          start paying off your debts now, if you can, and stay liquid.. watch out for rough times ahead in 2009..

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                          • #28
                            Re: Stock Market Downfall

                            My credit card debt hasn't been a serious issue. I try to pay the balance every month but sometimes, as Dunbar indicated, I have money out for jobs in progress. Because I payed my balances I didn't pay attention to the interest rates. But last year I noticed the interest charge on a VISA bill was 21%. I called the card company and requested a reduction in interest. The customer service representative looked at my credit history and reduced my interest rate to 9%. This resulted in a win-win situation. I win because I use that credit card almost exclusively because the rate is low. The credit card company wins because they receive the fee paid to it by the retailer when I use their card. It might be worth a call to the issuing credit card companies.

                            -Tom

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                            • #29
                              Re: Stock Market Downfall

                              Any money I put into stocks, especially in the current environment, I consider like money I would take to the casino in that I am willing to lose that amount and not miss it.

                              So I might throw a couple grand at a stock that is down near rock bottom (as I see it) and be willing to wait for a decent return in a year or two, or to lose it altogether if they go belly up.

                              But what I see as different today from the past is that the Fed seems like they may be willing to prop up just about ANY big business to keep it from failing, rather than face the consequence of throwing thousands more on unemployment and the impact on trade, etc. So may make an investment in today's climate a little less risky.
                              ---------------
                              Light is faster than sound. That's why some people seem really bright until you hear them speak.
                              ---------------
                              “If I had my life to live over again, I'd be a plumber.” - Albert Einstein
                              ---------
                              "Its a table saw.... Do you know where your fingers are?"
                              ---------
                              sigpic http://www.helmetstohardhats.com/

                              Comment


                              • #30
                                Re: Stock Market Downfall

                                I agree with your whole frame of thinking Bob.

                                I been reading, listening to the news and watching stocks all week.

                                I've also been researching the history of the market...fanatically, but I respect the fact that I can't become some kinda pro overnight.

                                What I'm trying to decipher is what exactly might happen.

                                The idea that investing now is a bad idea is out the door, thats a little bit on the fanatic side...ESPECIALLY when you do some research into historical stock market crashes and what caused them.
                                Also, read up on old news articles from those time periods...people were panicking then as well.

                                This crash is comparable to at least two past crashes in many respects.

                                It's large, percentage wise, like the crash of 74, it's caused by a loss of trust over corruption and oil prices.

                                74 started with Nixons smithsonian agreement and oil prices.
                                87 was caused by the S&L crisis (Mike Milken)...A LOT like what we're seeing now.

                                Those two markets rose differently afterwards, 74 was back most of its value within six months...all the way within a year.

                                87 was back in over a year, it rose more gradually rather than spiking back within six months like 74, I suspect that was a public trust issue.

                                Then there's Jim Cramer, openly warning folks not to invest.

                                I like to watch Mad Money, not for the advice, but more for the humorous novelty and hearing what he and his callers are saying.

                                Jim has been repeatedly wrong about his predictions, especially recently, he DOES have a legitimate point though...an investor could indeed lose as much as 20% right now...this ALL depends on whether the market is done dropping.
                                I just think the guy needs to refrain from eating seafood with too much mercury or something.

                                From what I've read, it looks like maybe, just maybe the bottom was Friday morning as the world held it's breath over the Lehman auction.

                                That last hour of Friday was amazing, the market shot back up some 500 points, overall change was a record breaker having dove to 7800 points in the morning, all the way to over 8800 and back to 8600.

                                Thats over 1000 points, staggering when you consider that was the markets whole value back in 73 before the market crashed.

                                To me this might mean that we're panicking over the unknown factors of a market that's never been so high in history.

                                If Jim Cramer is right and I lose 20% of my stocks value, say, over the course of the next few weeks, what I think he has neglected to think about is the fact that over the next 6 months, year or even several years...the stock WILL be back up.

                                If he's wrong, I could miss the what could be the greatest opportunity of my life to make some decent money.

                                Either way, my money just goes from one bank to another.

                                There is going to be a shift in whats lucrative and whats not, JPMorgan for starters never bought into the "toxic" cds situation that so many other institutions did, their stock showed that on Friday.

                                I'm taking a guess that people who have rushed their money out of financial stocks are going to think just the way I am and start putting it into more tangable stock like tech, energy and textiles.

                                I'm also guessing that, as unique as I think I am, there are countless millions just like me...perched like an owl spotting a field mouse waiting to strike.

                                I'm also guessing that there ARE loopholes in my thinking, again, I'm not an instant pro.

                                The market may have mushroomed artificailly over bloated numbers and games played by CEO's...BUT all that money that was pulled out of the market in the last year is currently hidden in pillow cases all around the world....food for thought.

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