The Stock market 10/10/08 - Why 10 is a bad number

[DavidS]

Hang Seing - Down 1121.31
Nikkei 225 - Down 878.44
BSE 30 - Down 643.36

Euorpean stocks are set to open 5 to 8% down.

There are three things, in which any one of them on their own could spark a sell off.

The day after Yom Kippur in a bear market is hisotrically a terrible day
A Friday is almost always a day to either say "I stayed in too long, it's time to sell."
And it's October. Some of the world's worst crashes have happened in October.

A Friday, after Yom Kippur in October.

Dow futures down 211.

It's going to get ugly today, folks. There's a great chance that they will halt trading on the floor today.

It's going to be a bad day. A very bad day.

 

[elvis]

my socialist cousin's mouth is watering with every day the Dow has a triple-digit loss. He keeps telling me to read the manifesto. Judas Maude.

 

[DavidS]

Hang Seing - Down 1121.31
Nikkei 225 - Down 878.44
BSE 30 - Down 643.36

Euorpean stocks are set to open 5 to 8% down.

There are three things, in which any one of them on their own could spark a sell off.

The day after Yom Kippur in a bear market is hisotrically a terrible day
A Friday is almost always a day to either say "I stayed in too long, it's time to sell."
And it's October. Some of the world's worst crashes have happened in October.

A Friday, after Yom Kippur in October.

Dow futures down 211.

It's going to get ugly today, folks. There's a great chance that they will halt trading on the floor today.

It's going to be a bad day. A very bad day.

Europe's stocks are scary. Italy's market is down over 1100 points.

Major World Indices - Yahoo! Finance

 

[NOBama]

Play of the day (IMO) SKF. I jumped back in yesterday @ 152.50. Other than that, I'm holding a couple short positions. Not planning on holding anything beyond closing bell.

Futures

 

[editec]

Now would be a really good time for MCain to start insisting that we ought to privatize social security, don't you think?


Come on Republicans, tell us again how much better people will be when they can put their retirement into the stock market.

People I'm talking to with 401Ks are telling me they've lost half their retirement nesteggs in the last few weeks.

 

[NOBama]

Now would be a really good time for MCain to start insisting that we ought to privatize social security, don't you think?


Come on Republicans, tell us again how much better people will be when they can put their retirement into the stock market.

People I'm talking to with 401Ks are telling me they've lost half their retirement nesteggs in the last few weeks.

You hit the nail right on the head: Nest egg. There’s no such thing as a nest egg, at least not in the stock market. I feel sorry, no empathy, for all the people who bought into that crap. I’m glad I never bought into it. I’ve always believed that there is no Big Brother, that nobody cares more about the welfare of my family then me and, that we live in a world where it’s every man for himself. I can’t tell you how many times I’ve been chastised for that, even scorned once by an employer.

Social security? I won’t even go there. I’ve always believed the system would be broke by the time I could benefit from it.

 

[DavidS]

Now would be a really good time for MCain to start insisting that we ought to privatize social security, don't you think?

That idea is DEAD in the water.

No one should be talking about tax cuts right now, either. The average American family will receive about $50 less in taxes under both plans. The only people who will receive breaks are the rich under McCain's plan and his plan will add to the federal defecit so much so that we may need yet another place in the national debt calculator. 10 quadrillion!

People I'm talking to with 401Ks are telling me they've lost half their retirement nesteggs in the last few weeks.

That was BEFORE October. People in November, right before election day, will get their 401k statements and it will be ugly if October continues the way it is.

 

[DavidS]

Holy shit. Dow futures are down 350 points. This is going to be nasty. The DOW only needs to go down 850 points for the circuit breaker to hit.

 

[dilloduck]

Now would be a really good time for MCain to start insisting that we ought to privatize social security, don't you think?


Come on Republicans, tell us again how much better people will be when they can put their retirement into the stock market.

People I'm talking to with 401Ks are telling me they've lost half their retirement nesteggs in the last few weeks.

Hey--at least everyones social security is all safe in that lock box !

 

[Sunni Man]

So glad I am a Muslim.

We don't get involved in Wall Street and the Stock Market.

It is basically a form of gambling and usury, which is forbidden in Islam.

 

[DavidS]

12:00 p.m. - Dow down 468.97.
1:51 p.m. - Dow down 582.47. Almost 7%.
4:12 p.m. - Dow down 128. 1.5% after being down nearly 700 points and being up 300 points. A 1000 point day.

 

[Paulie]

So glad I am a Muslim.

We don't get involved in Wall Street and the Stock Market.

It is basically a form of gambling and usury, which is forbidden in Islam.

Usury? Explain.

 

[bush lover]

Everybody knows that Commie Carter is to blame for this, and his pal Creepy Clinton finished the job of wrecking our economy. That's what they wanted all along. I hope President McCain conducts some investigations and gives these Dem terrorist criminals long stretches in prison at Gitmo!.

 

[DavidS]

Everybody knows that Commie Carter is to blame for this, and his pal Creepy Clinton finished the job of wrecking our economy. That's what they wanted all along. I hope President McCain conducts some investigations and gives these Dem terrorist criminals long stretches in prison at Gitmo!.

 

[Zoomie1980]

Now would be a really good time for MCain to start insisting that we ought to privatize social security, don't you think?


Come on Republicans, tell us again how much better people will be when they can put their retirement into the stock market.

People I'm talking to with 401Ks are telling me they've lost half their retirement nesteggs in the last few weeks.

They haven;t lost a damned thing unless they've sold it. And if they did, they deserve what they got....dumbasses...

 

[Zoomie1980]

Play of the day (IMO) SKF. I jumped back in yesterday @ 152.50. Other than that, I'm holding a couple short positions. Not planning on holding anything beyond closing bell.

Futures

Aren;t you the same idiot that was buying oil futures at $140/br betting on $200 oil by year's end??? I've been buying quality equities for about a week now and am ACCELERATING that buying with each 500 point down tick... I hope the market stays at 8000 or so for a five to seven years now since I'm finally at a point I can really buy in some decent volume while good issues are now cheap.

 

[Toro]

The farther the stock market falls, the greater the expected future return.

The market is as cheap as it has been in decades.

 

[Zoomie1980]

The farther the stock market falls, the greater the expected future return.

The market is as cheap as it has been in decades.

Dr. Ernie Goss, director of dept of Economics, Creighton University,

"If you bought stocks today, and the market returns to it's peak in three years, your rate of return would be upwards 50%. If if falls another 1000 points tomorrow, and still rose back to year ago levels that rate of return would be upwards 60%...."

Now maybe it won't get back to 14,000 in three years, but even if it gets back 11,000 or so, that's a very nice rate of return that things like Gold and bonds simply have no hope of every equaling over that same time.

 

[NOBama]

Aren;t you the same idiot that was buying oil futures at $140/br betting on $200 oil by year's end??? I've been buying quality equities for about a week now and am ACCELERATING that buying with each 500 point down tick... I hope the market stays at 8000 or so for a five to seven years now since I'm finally at a point I can really buy in some decent volume while good issues are now cheap.

No, I’m not that idiot. I’m one of the idiot’s who’s been adding value to his portfolio shorting quality equities that idiots like you have been buying and/or holding.

When the market says its hit bottom, I’ll be back on the other side of the trade. Until then, I’ll short every company I can at every opportunity I see and have no regrets about it.

Good luck with all your trades.

 

[Skull Pilot]

Now would be a really good time for MCain to start insisting that we ought to privatize social security, don't you think?


Come on Republicans, tell us again how much better people will be when they can put their retirement into the stock market.

People I'm talking to with 401Ks are telling me they've lost half their retirement nesteggs in the last few weeks.

for Christs sake not ALL companies are having trouble.

And Ed you know that if retirement is more than 10 years away, that people should not be worrying. and those that are within 5 years of retirement should not have their money in equities in the first place.

And no one has "lost" any money unless they cash in at a loss.

To say that a market downturn will be the norm over 40 years of investing is disingenuous at best.

Anyone 45 or younger should be ecstatic right now. when in your life could you ever buy stocks in solid companies at such a bargain? If I was in my late twenties or early thirties, I would literally be sinking ALL my money into the market right now.