How much will the stock market tank today????

[drjeff]

I'll put my guess in at 400 points Then again it will probably be up 500 points over todays open in 2 weeks

 

[ctenidae]

Gotta love an emergency 75 bps cut by the Fed.
Headline NEws' advice this morning- "Don't check your 401(k) statement today. You'll only get depressed."

It's going to be a bumpy week.

 

[Paul]

 

[thetrailboss]

(gulp)

Largest one day cut by the Fed since 1991.

 

[wa-loaf]

 

[drjeff]

The way it's trending now, it might have all of the 1st 2 minutes 400pt drop back by lunch time (down *only* 72 as I'm typing this at 11:10)

At this rate, all Bernacke has to do is cut the prime rate down to about 0.1% and things will be fine

 

[ski_resort_observer]

A couple of weeks ago when a barrel crude touched $100 some of you were freakin and I told you it would be going down as global growth will be slowing down.

Everyone knew that the markets would be way down at the opening bell today but like crude don't pay attention to the media hype, don't slit your wrists yet as I bet the market ends up not too bad today. There is no way on god's green that some of those booming global markets could sustain the gains of the last few years and a correction was ready to happen. I went defensive last week and now I want the market to tank.

 

[drjeff]

Not too bad, finished the day off 128 and change (just over 1%) and Crude Oil was down $2.32 to $88.25 a barrel.

Lets see what tommorrow brings!

 

[ski_resort_observer]

Yup..it's a roller coaster for sure. There definately was a whiff of a panic early this morning. It's abit too early to say but it looks like the market will once again open up way down just based on APPL's report of earnings a few minutes ago and the bears are growling. Lots of great stocks are there at a cheap price and getting cheaper.

 

[ckofer]

My 1000 shares of American Ski Company stock were unaffected.

 

[riverc0il]

SRLSY.

The panic is the only thing that worries me. One of my friends blogged today about dropping some contribution to their 401k (dropping down to the company maximum match). This is the time to be increasing contribution, IMO. No one knows where the bottom is so you might as well be putting in as much as you can and hold for the long term (at least for those of us that are young whipper snappers). No guarantees but there is no reason for the market not to eventually stabilize and start making gains again... even if it takes a few years.

Quite frankly (coming from someone with a 401k quite effected in the short term), I say about damn time. Let's get this F'ing mess fixed. Let's do this correction and cut out all the BS and start this thing again on a good foot.

Yea, right. I forgot what type of world we live in and the types of humans being that make the big decisions that drive the ship. Rollarcoaster for life, take it or leave it. Can't beat em' join em' is the decision I made years ago, for better or worse. I just don't like all the bailing out, that is what really sucks to me. But they have to do something, I guess? It is too big a problem not to do something. Maybe? Lots of good economists say there is not much to do and perhaps this involves throwing good money after bad? I just really don't like the bailing out. Why not setup a system that corrects without these major swings and make sure you don't need bail outs.

 

[drjeff]

SRLSY.

The panic is the only thing that worries me. One of my friends blogged today about dropping some contribution to their 401k (dropping down to the company maximum match). This is the time to be increasing contribution, IMO. No one knows where the bottom is so you might as well be putting in as much as you can and hold for the long term (at least for those of us that are young whipper snappers). No guarantees but there is no reason for the market not to eventually stabilize and start making gains again... even if it takes a few years.

Quite frankly (coming from someone with a 401k quite effected in the short term), I say about damn time. Let's get this F'ing mess fixed. Let's do this correction and cut out all the BS and start this thing again on a good foot.

Yea, right. I forgot what type of world we live in and the types of humans being that make the big decisions that drive the ship. Rollarcoaster for life, take it or leave it. Can't beat em' join em' is the decision I made years ago, for better or worse. I just don't like all the bailing out, that is what really sucks to me. But they have to do something, I guess? It is too big a problem not to do something. Maybe? Lots of good economists say there is not much to do and perhaps this involves throwing good money after bad? I just really don't like the bailing out. Why not setup a system that corrects without these major swings and make sure you don't need bail outs.

Definately a Big Picture view is what i'm taking too. I figure that I'm realistically NOT looking at using my retirement investments for a quarter century or so. Over that time they'll more than likely be many more days like this, and probably many that are WAY worse too, but I'd also be quite suprised if in 2030 something when I'm ready to retire if we're not talking about a Dow that's at 25 to 30,0000

 

[ski_resort_observer]

Right now, a couple of hours before the market opens it looks like the US market will open down but all the asian markets are way up and the european markets are down again. There are some companies that reported last night and Pfeizer, this morning, that beat the street numbers. Oil is down again. A mixed bag leaning on the down side to start the day.

How the market will end the day is the million dollar question tho. The booze companies must be doing well these days :lol:

 

[drjeff]

Right now, a couple of hours before the market opens it looks like the US market will open down but all the asian markets are way up and the european markets are down again. There are some companies that reported last night and Pfeizer, this morning, that beat the street numbers. Oil is down again. A mixed bag leaning on the down side to start the day.

How the market will end the day is the million dollar question tho. The booze companies must be doing well these days :lol:

Pfizer must love this, since I'd bet that they'll sell a few extra pills of anti depressants and anti-anxiety meds as well as their standard tons of Viagra in market condtions like this

Lets see if Pfizer can beat the robust report that Johnson & Johnson released yesterday

 

[Paul]

SRLSY.

The panic is the only thing that worries me. One of my friends blogged today about dropping some contribution to their 401k (dropping down to the company maximum match). This is the time to be increasing contribution, IMO. No one knows where the bottom is so you might as well be putting in as much as you can and hold for the long term (at least for those of us that are young whipper snappers). No guarantees but there is no reason for the market not to eventually stabilize and start making gains again... even if it takes a few years.

Quite frankly (coming from someone with a 401k quite effected in the short term), I say about damn time. Let's get this F'ing mess fixed. Let's do this correction and cut out all the BS and start this thing again on a good foot.

Yea, right. I forgot what type of world we live in and the types of humans being that make the big decisions that drive the ship. Rollarcoaster for life, take it or leave it. Can't beat em' join em' is the decision I made years ago, for better or worse. I just don't like all the bailing out, that is what really sucks to me. But they have to do something, I guess? It is too big a problem not to do something. Maybe? Lots of good economists say there is not much to do and perhaps this involves throwing good money after bad? I just really don't like the bailing out. Why not setup a system that corrects without these major swings and make sure you don't need bail outs.

I agree about a billionity percent.

Same concept as Dollar Cost Averaging. this will all come-out in the wash.
For folks near retirement.... Sorry Baby-Boomers, you reap what you sow.

 

[ctenidae]

If you're looking for fast money, the stock market is not the place to be, unless you're very, very dedicated and very, very, very lucky.

If you missed the best 10 (I think) days of the market over the past 30 years, you actually did worse than gov't bonds. Moral of the story is, get in, and stay in, for the long haul.

Might not be a bad time to max out that 401(k) contribution, though.

 

[Marc]

If you're looking for fast money, the stock market is not the place to be, unless you're very, very dedicated and very, very, very lucky.

If you missed the best 10 (I think) days of the market over the past 30 years, you actually did worse than gov't bonds. Moral of the story is, get in, and stay in, for the long haul.

Might not be a bad time to max out that 401(k) contribution, though.

That's why I got into the pimpin' business.

 

[ctenidae]

That's why I got into the pimpin' business.

Long as you keep yo' PimpHand (tm) strong, you be a'ight.

 

[drjeff]

Long as you keep yo' PimpHand (tm) strong, you be a'ight.

Ya just don't wanna see to ho's of Marc's home town though! Heck, I've probably taken out teeth on 1/2 of them

 

[ctenidae]

Ya just don't wanna see to ho's of Marc's home town though! Heck, I've probably taken out teeth on 1/2 of them

Marc's hos have teeth?

Whodathunkit?