hold onto yer britches...
 

...could be another doozy of a day in the stock market.

my advice: start drinking heavily.

:buds:

Retest of recent lows coming by 11am?
Maybe see Dow 7700 today, then rally?

I'm always way too optimistic...

yup. not lookin good

My sympathies go out to the people who's retirement accounts of gotten decimated by what's going on.

But for all of us young folks around, this is a huge opportunity. I have minimal money in the market at the moment but as soon as the waters begin to calm, I'm opening up then maxing out an IRA.

This is the exact same thing that happened with oil but in reverse. A lot of solid companies that are minimally effected by credit issues are extremely undervalued.

To quote Warren Buffet, "While everyone else panics, I see opportunity. I'm buying stocks."

Good ole Warren has seen his fortunes drop 10 billion in the last few months they said this morning.

I'm looking for at least 1000 points on S&P 500 within 24 months :jump: hopefully I have enough time to hide :hidin: my profits from the Economic SS as I refer to the incoming "wealth redistribution" administration.

Must own an interest in spirits...

:wavey:

Pre-Med, Pre-Law, what's the difference?

Art Cashin on CNBC a short while ago mentioned there hasn't been a bottom put in yet based on the volume you typically see at market bottoms.
Tough too believe there's not enough panic out there yet, but Art called the 10/10 selloff and subsequent rebound "less than perfect."
For the short term he anticipated a bottom within the next two weeks and possibly rally heading into the election.

wee wee, isnt this one of the things that got us into this mess in the first place???

The Federal Reserve is widely expected to cut interest rates again next week. But could the Fed soon go where it has never gone before and bring them below 1%?

Mike,

Did you happen to see Cashin talking today about the 10/27 lunar cycle sell off fears? Kind of an odd correlation between historical stock selloff's and the New moon in October.

Kinda makes me want to buy a dozen eels for tonight's last of the west.

Can't believe you figured my secret out....you smarty.

On days when the market is up I usually do very well fishing that night. Market down, fishing down. Guess I'm staying in tonight but will pick up some big eels in anticipation of a rally next week... if its up more than 5% I usually get into 30# fish:laugha:

I wonder what the average per day is for people jumping from skyscrapers in Manhattan these days !

How much could the stock marker potentially fall? Could it completely tank down to like 1000-2000?

One of the sad parts about this market is that historicly the fourth quarter has been productive & positive.I wish I had the extra $$ to buy more!

I really feel bad for our elders...There never going to rebound from this global mess.
Also If Im not mistakin but this is worse than Black Monday back in 87 chit back then people were jumping from windows:doh:


Bob

Robert this is much worse than 87, the market has lost over 40 pct since its peak and it is much more widespread. This is 26-33 in the financial markets in our lifetime, I hope the rest of that time doesn't come to be.

This seems real bad, but the IXIC lost over 70 percent from peak to trough just 7-8 years ago and has never recovered. :behead:

Dow was down over 40% too and came back to hit new highs. I remain optimistic the same will happen this time around once the excesses get wrung out.

Just something to think about...what would happen to social security if it is privatized and it depended on the market???:hs:

Don't look now, but we're up 20% off last month's bottom. Sure we'll pull back a bit from profit taking, but I think an uptrend is in place for a while.

People who bailed and went into cash are gonna be playing catchup.

Good things if you have the discipline to stick with it long term.

Again, I'm always the optimist....

They may very well turn out to be the wise ones. I wish I had done that.

October made history in 2 aspect of the market one for crashing as much as it did & secondly rebounding as much as 20%+ all in on month.

Mikey I too am optimistic in the futures of the market but it seems as we are back on the downward spiral.....Must be due to the Great new on Tuesday night:rtfm:

The market is down 929 points since you said that yesterday morning and only about 200 points off that bottom from last month. I think December will see terrible consumer spending and January will bring another dumping of the market.

:laugha: Its almost as though the market dropped as soon as I typed it.

Cashin's prediction was right with regard to the rally and ensuing drop. Buy the rumor, sell the news as they say.

I hear you. Only problem with cash is its a poor place to be long term.

Example:We got a 20% bounce in stocks off the lows in just under two weeks. If you had sold at the bottom and stayed in cash, it would take you 10 plus years to get the money back versus 10 days. I know this isn't the best example because your age plays greatly into the amount of risk you can or should take.

Sure, we may go much lower, but at 38 I'm sticking with the market for the long term potential.

Next time I make a prediction do the opposite and you're sure to win....

The market is completely insane. I'm young and have yet to open an IRA to start saving for retirement. This year was going to be the year, but it is such a petrifying time to enter the market. I'm just glad my procrastination prevented me from entering last year like my accountant told me too. It'd take me 10 years to make up those losses.

:agree: Art Cashin is the man,,,

My suggestion,,, Don't wait,,, but who am I anyway,,,

I wouldn't wait, either. Most of my current holdings were purchased during the post internet bubble burst era. The indexes nearly doubled in those seven years that followed as did my accounts. Although I've gotten banged up a bit lately like many others :whackin:, I'm still well ahead of where I'd be in cash or bonds. Waaaaay ahead of where I'd be had I done nothing at all. If your employer offers a match, you're crazy not to participate. You still have to live with the market fluctuations and think long term.
Everyone has a vomit taste in their mouth right now over the economy, but you need to look past it. It's tough to be optimistic right now, but history says you should be buying.

BB... I totally agree,,, it is not just the small part you miss out on now but the exponential growth you miss out on over 30 years,,, everything in life is a chance,, the market is no different If your scared of it then just put your money in a roth with low risk stuff,, just don't skip it all together

For me,, my results tell me I made the good choices by buying on the %$%$%$%$tiest market days when everyone was screaming doom and gloom....... that will continue until I am 7-10 years prior to retirement,,,,

Charts may not be exact but they at least help when you are trying to make intelligent decisions on when to enter the market... of course I am no pro... and don't get me wrong it would be nice to be worthy enough to have a bloomberg B with professional subscriptions but, I am not a complete fool either,,,