MAN, this should be FORBIDDEN

by seasoned 8 replies
S&P waited until the end of the week to announce the downgrade of the US, so the general public was left to worry, etc... THEN, they start putting on all this other garbage. Well, with my luck, stocks will probably start going up as early as 11am today.

BTW FNMA and FHLMC(aka Freddie mac, DON'T ask me why!) are making a lot of people RICH! The time before last, I refinanced my loan, and they sold it to a bank which then sold it to FNMA. Well, LAST time I refinanced a loan, and they sold it to a bank who sold it to FHLMC! So people made a BUNDLE, and FNMA lost it to FHLMC! Talk about INCEST!

Steve
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  • Profile picture of the author yukon
    This is all media hype!

    The media reports (in a panic) that the DOW drops 300 points (LMAO), that is only around 2.40% which is NOTHING!

    Most stocks fluctuate +/- 2-3% every single day of trading.

    I guess the media saying 300 points sounds more dramatic than saying "The DOW dropped -2.40%", which is the same thing.

    A bunch of Drama Queens, :rolleyes:
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    • Profile picture of the author seasoned
      Originally Posted by yukon View Post

      This is all media hype!

      The media reports (in a panic) that the DOW drops 300 points (LMAO), that is only around 2.40% which is NOTHING!

      Most stocks fluctuate +/- 2-3% every single day of trading.

      I guess the media saying 300 points sounds more dramatic than saying "The DOW dropped -2.40%", which is the same thing.

      A bunch of Drama Queens, :rolleyes:
      Though not really realized by many, there is NO DOW! DOW is a misleading name based on the fact that the people that came up with the concept were named like dow and jones. They started a newspaper, which became the wall street journal.

      They had a standardized PORTFOLIO that they created to indicate the general health of US industry, and it was called the DOW JONES INDUSTRIAL AVERAGE! The ORIGINAL idea, that they kept pretty well until like the 1990s, was to have the biggest and best company in each industry represent 1 of 30 industries. THAT is what fell by 300 points, and a move of 2-3% isn't really all that common.

      It is more like a conservative MUTUAL FUND than a stock. If this were just ONE STOCK, it wouldn't be a big deal. Although even 5 of these stocks dropping significantly wouldn't be good.

      Steve
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  • Profile picture of the author yukon
    Thing is, because one stock, fund, or whatever drops, it has nothing to do with the rest of the world.

    People panic when they see other people panic, it doesn't have to make sense (and doesn't), it's all about the herd mentality, which is fine by me since it makes it a lot easier to enter a stock position & gain earnings faster.

    Like Warren Buffett I get in the stock just after everyone else has freaked out & sold their shares.

    Example, BIDU is an awesome performing stock, I've owend this stock since it was at $18 (it's at $133 now). Still people panic & get out of the stock, for no reason other than everyone else is in panic mode (I love it!).

    I expect by the end of Dec. 2011 BIDU will gain at least (+20%) per share, and that's my conservative estimate.

    I just now (today) bought another $5,000 of BIDU at $133.17 per share.
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  • Profile picture of the author DazedandConfused
    Yeah - and Poor Carlos Sims lost 8 billion dollars the other day...boo freakin hoo -
    Does anyone have a hanky?

    Why do we listen to brokers again ? I mean, they're called BROKERS for cryin' out loud...
    they get rich making you broker...



    @ Yukon - how long did it take to go from 18 to 133?
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    • Profile picture of the author yukon
      Originally Posted by DazedandConfused View Post

      Yeah - and Poor Carlos Sims lost 8 billion dollars the other day...boo freakin hoo -
      Does anyone have a hanky?

      Why do we listen to brokers again ? I mean, they're called BROKERS for cryin' out loud...
      they get rich making you broker...



      @ Yukon - how long did it take to go from 18 to 133?
      It's been a while, right at 3 years, I think I bought BIDU for the first time in July 2008.

      The only reason I bought was because Google was in the news (a lot) for pissing off the China Gov. because they refused to censor their search results. Bidu was new & really the only search in China worth a crap. So, I put 50% of my money on BIDU & the other 50% on GOOG (Google), BIDU killed it BIG time in China. The reason BIDU pulled it off is because Google thought they could just walk in & tell the China Gov. how it's going to be (fail, lol) that just Pissed off China even more & they booted Google out.

      I think about a month ago my first investment in BIDU was up +700%, it's dropped down to the mid 600% now which I'm still happy with. Besides, I'm very sure it will bounce back, they own 80% share of search traffic in China.
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  • Profile picture of the author seasoned
    DaC,

    OK, I hear you.... Stocks are bad. Bonds, by their nature aren't that great, I guess commodities aren't that great. The garbage about real estate has been proven FALSE.

    Where do YOU think people should put their money? and carlos didn't really lose money. You see, relative to OTHERS, he has a LOT! OTHERS lost ALSO!

    Yukon, BIDU isn't perfect EITHER! Maybe you should wait until things stabilize before you gloat!

    Steve
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    • Profile picture of the author yukon
      Originally Posted by seasoned View Post

      DaC,

      OK, I hear you.... Stocks are bad. Bonds, by their nature aren't that great, I guess commodities aren't that great. The garbage about real estate has been proven FALSE.

      Where do YOU think people should put their money? and carlos didn't really lose money. You see, relative to OTHERS, he has a LOT! OTHERS lost ALSO!

      Yukon, BIDU isn't perfect EITHER! Maybe you should wait until things stabilize before you gloat!

      Steve


      Yea, I'm not gloating & my BIDU buy is 50% based on the monopoly that BIDU has in China search traffic.

      For me, I think it's a good time to buy. I know it will dip lower & I'm 99% sure it will bounce back higher than before this mess started.

      To tell you the truth, I think most of this DOW panic is caused by insider trading. In order to make more $$ insiders have to buy at a lower price, chaos causes lower prices.

      Back in 2008 everyone thought the market would take a long time to recover, heck, it came back stronger than ever.
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      • Profile picture of the author seasoned
        Originally Posted by yukon View Post

        To tell you the truth, I think most of this DOW panic is caused by insider trading. In order to make more $$ insiders have to buy at a lower price, chaos causes lower prices.
        I think most was from short selling, margins, and fear.

        Back in 2008 everyone thought the market would take a long time to recover, heck, it came back stronger than ever.
        Actually, we may NEVER know! There were lies, promises, bribes, and dollar devaluation that made some WORTHLESS stocks seem like good investments.

        GEE, I thought we might break a record today. I think there is only a 50/50 chance that we may get a new 3rd largest loss.

        I wonder if people at S&P bet against the market.

        Steve
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