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  • Stock Market Downfall

    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.




    Having Jim tell everyone, "If you need your money in the next 5 years, take it out of the stock market" ...well, that's going to spread some widespread panic for some seasoned investors, ya think?


    It won't be the decline of the stock market that causes problems, it will be the ripple effect of those who panic in these times and make haste decisions.

    My thinking is to stay the course, not spend unless it is something I "have" to have and I'll focus on minimizing waste.


    For others though who are in these mortgages that won't stop escalating, I couldn't imagine how that would be to fathom knowing a refinance is out of the question.

    Now you know why people just walk away, figuring it's someone elses problem.


    I for one don't feel sorry for banks, especially when they retained nearly 90% value of what they've financed, and made a killing doing so following market trends.
    Last edited by DUNBAR PLUMBING; 10-09-2008, 06:44 PM.
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  • #2
    Re: Stock Market Downfall

    If the DJIA drops to 8000 it would be wise to be buying up all the stock you can. As the richest man in the world (Warren Buffet) says:
    Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.
    When everyone else sells out of sheep-mentality fear, and the stocks are dirt-cheap...BUY AND HOLD. Bargain prices don't come too often.
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    • #3
      Re: Its gloom and doom!

      Originally posted by PCPlumber
      From: Honest Jack

      I didn't get one call today. I think I'll close my shop.

      Jack
      What!???? You mean not one old person was shown the value of repiping their whole house, cleanup, & rebuilding on parts of the structure. Oh, I almost forgot-mold remediation! That's the big one now. It's going to kill everyone. Got to get that out.

      Not one sale from you from all of this potential. YOU'RE FIRED!

      J.C.
      Last edited by BobsPlumbing; 10-06-2008, 03:44 PM.

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      • #4
        Re: Stock Market Downfall

        Originally posted by Service Guy View Post
        If the DJIA drops to 8000 it would be wise to be buying up all the stock you can. As the richest man in the world (Warren Buffet) says:

        When everyone else sells out of sheep-mentality fear, and the stocks are dirt-cheap...BUY AND HOLD. Bargain prices don't come too often.
        If you have the money to risk/invest then you stand to profit. Unfortunately many investors have been hit so hard that they cannot possibly invest any further in this or any other market. There are retired folks and some who were about to retire who lost most of their reitirement money, a very sad state of affairs for these people. I have some money in Stem cell stocks and Sirius down over ninety percent, so my investment day in stocks are over. I do agree that there are bargains out there and great opportunites for those who have the money to risk, just remember no matter how rock solid you believe it to be it is still a risk. Best of luck to all.

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        • #5
          Re: Stock Market Downfall

          Before I reinvest I plan to investigate downturns and see what sectors historically have been the first to rebound. Then I will probably wait until I see the sectors rise before I sink any dough in them. I am not too keen on buying at rock bottom, wherever that may be. Let the other investors take the big risk. I will buy when the stocks have started to rise.

          That strategy worked well for me in Chineese stocks. I was talked into buying into the China market. Then I told myself to wait a minute and see how things went with the other investors. I sold and I am glad I did.

          -Tom

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          • #6
            Re: Stock Market Downfall

            Originally posted by Service Guy View Post
            If the DJIA drops to 8000 it would be wise to be buying up all the stock you can. As the richest man in the world (Warren Buffet) says:

            When everyone else sells out of sheep-mentality fear, and the stocks are dirt-cheap...BUY AND HOLD. Bargain prices don't come too often.
            Dude, right on the money.
            I feel like a vulture with one finger on my mouse ready to click right "buy" when it looks its worst.

            Also watching what happens with the CEO's that "legally" lobbied this problem into existance with "default swaps" like a hawk.

            They're a lot richer now, we're gonna get a lot poorer...capitalism slowly converting to aristocracy.

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            • #7
              Re: Stock Market Downfall

              http://[URL="http://www.youtube.com/watch?v=_XgkeTanCGI"]www.youtube.com/watch?v=_XgkeTanCGI[/URL]

              http://[URL="http://wcco.com/crime/rnc.protestors.terrorists.2.833104.html"]wcco.com/crime/rnc.protestors.terrorists.2.833104.html
              [/URL]
              http://[URL="http://www.youtube.com/watch?v=HaG9d_4zij8"]www.youtube.com/watch?v=HaG9d_4zij8[/URL]

              http://www.youtube.com/watch?v=Ek7zc0lJxbM

              http://www.armytimes.com/news/2008/0...eland_090708w/

              http://www.youtube.com/watch?v=FIo9X1HB4YY

              http://video.google.com/videoplay?do...05277695921912


              Help!!

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              • #8
                Re: Stock Market Downfall

                Originally posted by Service Guy View Post
                If the DJIA drops to 8000 it would be wise to be buying up all the stock you can. As the richest man in the world (Warren Buffet) says:

                When everyone else sells out of sheep-mentality fear, and the stocks are dirt-cheap...BUY AND HOLD. Bargain prices don't come too often.
                that is if youve got billions to spare then, why not..

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                • #9
                  Re: Stock Market Downfall

                  8.3 Trillion dollar loss is the word today with the closing of the day hovering around 8000.



                  One year ago today the DOW was above 14,000.



                  My one friend won't even discuss it with me right now as he's watching all his investments tank, and he's older so he probably feels that the reality of getting back where he was a year ago, is not going to happen anytime soon.

                  It's going to be a very slow process.


                  Has anyone bought any gold?
                  Last edited by DUNBAR PLUMBING; 10-09-2008, 06:52 PM.
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                  • #10
                    Re: Stock Market Downfall

                    Global Markets will be opening here in a few hours and if they take a huge **** overnight,


                    tomorrow is going to be doomsday friday for the stock market, probably shattering records.


                    JD Power and Associates are predicting a fallout of the automobile industry in early 2009, that's months folks.

                    All those vehicles on lots that are not moving, you can't do anything money wise in that kind of business because you tie your hands with the inventory. Take that and I've never seen a dealership location that doesn't cost thousands to operate, and you got pandimonium coming soon enough. The largest Chevrolet dealer has shut down, Chevrolet stocks took a dump today, lowest since 1950.

                    I don't have any stocks or investments. I've basically have invested into myself in the sense that I build/create a product and take my chances of whether it sinks or swims. Tieing money up in the stock market is a form of legal gambling; just betting on one's good fortune or one's terrible demise.

                    I won't say I'll never invest...but I'll say for the record that I have a lot of friends that are hurting, watching everything disappear as a comfort zone.
                    Last edited by DUNBAR PLUMBING; 10-09-2008, 07:20 PM.
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                    • #11
                      Re: Stock Market Downfall

                      someone said, if you need your money within the next 3years, start selling your stocks..

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                      • #12
                        Re: Stock Market Downfall

                        http://www.bloomberg.com/apps/news?p...efer=worldwide




                        I heard the reason this is all coming to a head is because the short-selling ban was lifted from 3 weeks ago.
                        Last edited by DUNBAR PLUMBING; 10-09-2008, 11:21 PM.
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                        • #13
                          Re: Stock Market Downfall

                          Market experts say stocks could continue falling until they've lost half the value from their peak in last year's bubble heyday - meaning the bottom might be a Dow Jones industrial average at 7,000.
                          A new economic report yesterday supported such a steep downward spiral by showing a sudden slowdown could hit by Thanksgiving, based on an unexpected doubling of wholesale stockpiles of everything from petroleum and clothing to electronics and cars.
                          A Commerce Department report said wholesalers had so much excess inventory on hand in August that they likely wouldn't need to order goods for more than a month.
                          In turn, that would trigger factory cutbacks, layoffs and slower consumer spending as the economy faces a harsh round of deflation in a prolonged bear market of shrinking growth.
                          While bear markets are officially triggered by a 20 percent drop, at their worst, they can have a sell-off of 45 percent to 50 percent.
                          Since the Dow's record close above 14,000 a year ago yesterday, the Dow has tumbled 5,585.34 points - or almost 40 percent.
                          Surveys of economists say the economy's slowdown will be nearly three times worse by the end of the year.
                          The economy's pace will shrink at a 0.2 percent rate in the third quarter, but sharply accelerate to 0.8 percent by Christmas.
                          Stocks took the brunt of the slowdown fear due to weaker corporate profits ahead and frozen credit markets.
                          It was the seventh straight session of losses as investors bailed from the market in droves, despite new efforts by the Treasury and the Federal Reserve to goose the stalled economy with hundreds of billions in cash.
                          "We're way beyond fundamentals. This is just pure panic, that's all it is," said Chris Orndorff, head of equity strategy at Payden & Rygel.
                          The Dow dropped 678.91, or 7.33 percent, to 8,579.19, while the Standard & Poor's 500 Index lost 75.02 , or 7.62 percent, to 909.92. The Nasdaq tumbled 95.21, or 5.47 percent, to 1,645.12.
                          Some value investors noted that that the market is so oversold that incredible values may pave the way for a turnaround. However, the fear that hedge funds are being forced to sell to meet redemptions continued to fan fears that more selling could be around the corner.
                          Meanwhile, the four-week average of new unemployment claims rose to 482,500, the highest since October 2001. The number of Americans continuing to claim unemployment benefits rose to 3.66 million, above analysts' estimates of 3.6 million. That's the highest total in more than five years.
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                          • #14
                            Re: Stock Market Downfall

                            If I had a ton of money to risk I would be buying today. It may take a while to regain value but it will eventually regain value.

                            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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                            • #15
                              Re: Stock Market Downfall

                              Originally posted by ToUtahNow View Post
                              If I had a ton of money to risk I would be buying today. It may take a while to regain value but it will eventually regain value.

                              Mark
                              My thoughts exactly. I have all my money tied up in my own small business. If I didn't, I would be sinking everything I have into the stock market RIGHT NOW!!! We may NEVER again see stock market bargains like we are seeing today. This is a HUGE opportunity to BUY LOW!!!!
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