Dow at 8500 - Oh Bummer

by gareth
11 replies
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Man mcain and ohbama will soon be trying "NOT" to win the election.
We are seeing a real disaster unfold now.

Its down 40% since last year.

I am thinking the present rescue plan may not work.
  • Profile picture of the author HeySal
    LOL - it wasn't supposed to.
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    Sal
    When the Roads and Paths end, learn to guide yourself through the wilderness
    Beyond the Path

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    • Profile picture of the author myob
      My stock advisors tell me professional investors are waiting for 8500, and will do major bargain hunting at below that point. We will do likewise. By the way, exactly one year ago, the stocks were at their record high of 14000
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  • Profile picture of the author CWreports
    Yeah this market really stinks. I still can't get over the fact the bailout passed with seemingly so much opposition. Just goes to show you where our elected officials' loyalty lies... doesn't it? Watching this unfold is unreal.

    On a lighter side:

    If you had purchased $1000 of Delta Airlines stock one year ago, you would have $49 today. If you had purchased $1000 of AIG stock one year ago, you would have $33 today. If you had purchased $1000 of Lehman Brothers stock one year ago, you will have $0 today. However, if you had purchased $1000 worth of beer one year ago, drank all the beer, then turned in the aluminum cans for recycling, you would have received $214 today at redemptions. Based on the above, the best current investment plan is to drink heavily & recycle. It is called the 401-KEG Plan

    Carol
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    “I must create a system or be enslaved by another man’s.” W.Blake
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    • Profile picture of the author myob
      We are having a garage sale with the stock market! Waiting for 8500 or less.
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  • Profile picture of the author Josh Anderson
    If you had put all your money in gold a year ago you would be raking in the profits.

    If you have cash now there are some great investing opportunities coming.
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  • Profile picture of the author mikeyh
    Some economists here in Australia are recommending we sell our houses now and keep cash only for the bargains that will come over the next 18-24 months.

    But then again, why would I believe an economist or advisor?
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  • Profile picture of the author Indiana
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    • Profile picture of the author myob
      Thank you Indy for your heartfelt concern for me. I have been waiting for this drop, hopefully to 7200. We are waiting...

      Profits will be used for my many charitable interests to the many who are truly suffering from this season of selfishness and greed.

      Gift certificates will be given to those in need. These gift certificates all have the signature and blessing of Henry Paulson in denominations of $20.
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    • Profile picture of the author Mike Wright
      Yep, everything is tanking bigtime today Indy
      Bloomberg.com

      As for airlines, about 500 senior managers just all grabbed
      the opportunity for voluntary redundancy at the UK BA
      (British Airways) before their likely payouts and pensions
      vanished. The Chairman even phoned up the Board and asked
      who was left to run things

      Not only that, but UK Jobcentres have been warned of
      a potentially huge surge in unemployment .

      UK County Councils, Charities and others have been mortified to
      find that about £1billion of their money is trapped in Iceland.

      Even the French financial sector renowned for prudence,
      is now fraying at the edges.

      Libya is even taking its cash out of Switzerland

      At this rate, they will have to close the stock exchanges
      just to halt the chaos until things can be identified and
      dealt with.

      I just do not see the logic of trying to patch up the whole
      thing while allowing the continuance of practices which cause
      the problems in the first place :confused:
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  • Profile picture of the author espacecadet
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    • Profile picture of the author myob
      Originally Posted by espacecadet View Post

      Paulson's signature? Oh, so they're pretty much worthless then...
      espacecadet,

      Didn't you get your gift certificates from Henry Paulson yet? Look at who signed your series 2006 dollar bills again. You can buy anything want.
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      • Profile picture of the author myob
        Uh oh! DOW futures up 252 on news of European guarantee for bank financing.
        Man the sails, up the masts! We need more fear and panic!
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  • Profile picture of the author Indiana
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    • Profile picture of the author myob
      Indy, your esteemed advice is, as always, under consideration. However, my investor group and I, now over 1,230, have decided to ignore your dire warnings and invested major capital into the market early this am. The global garage sale is on, and we plan on being major players. Fear is our ally. Targeting for 7200, join the fun.
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