DJIA

[Iceaxe]

I dont know about everyone else, but I can do without this kind of "hope and change".....

DJIA dropped another few hundred points today, could go below 7000 this week. :eek2:

http://www.djindexes.com/

This sucks..... maybe I just shouldn't look at my stocks and retirement anymore cause it just makes me ill.... :puke8:

Hope I don't end up standing in a soup line....



http://www.neajazzintheschools.org/images/lesson2/look/soup_line.jpg

[Deathcricket]

Ye're only screwed when you sell them. Just do what I do and don't look. Forget they exist. Have you tried sticking your money into other currencies though? I've found that when the dollar crashes it's a great way to stay ahead of the curve. And it's fun (like the stock market used to be), always going up and down.

:nod:

[cachehiker]

I was fortunate to move 10% more of my already Treasury heavy portfolio into Treasuries about a year ago. I'm out a lot but percentage wise it doesn't even compare with many of my coworkers.

I also decided to buy a nicer car last year and the process for preparing to do so was practically the same process as preparing for a recession. Sell off the old car, pay off all the cards, etc. Biggest difference is putting off buying the new car until I can practically pay cash for it.

All in all, I think I'm likely to weather it all rather well. I even started pounding 100% of my 401k and IRA contributions into stocks at the beginning of the year. A radical departure from my usual strategy but there's no better time to buy than at or close to the bottom.

[Iceaxe]

Ye're only screwed when you sell them. Just do what I do and don't look. Forget they exist.

That's what I used to do.... but I'm nearing the age where the stocks might not rebound by the time I want to retire.

I knew I should have just spent it all on fast cars, booze and strippers....

http://photos-a.ll.facebook.com/photos-ll-snc1/v2369/115/58/1005758902/n1005758902_30314136_4213.jpg

[erial]

As the Dow and the economy both sink, petty crime will probably rise. Might be wise to take extra care not to leave valuable stuff in your vehicle at those secluded trailheads.

From Thursday's Morning Report:


Hovenweep National Monument (UT)
Visitor Center Burglarized

On the night of Saturday, February 14th, a burglary occurred at the park

[Iceaxe]

Might be wise to take extra care not to leave valuable stuff in your vehicle at those secluded trailheads.

Nice heads up....

This was a major problem in Escalante a few years back.... for a while you were almost guaranteed for having your car broke into if you left it at one of the usual overnight trailheads like the one to Neon.

Anywhere on the Navajo reservation also has a bad rep...

:popcorn:

[CrazyFinn]

Ye're only screwed when you sell them. Just do what I do and don't look. Forget they exist. Have you tried sticking your money into other currencies though? I've found that when the dollar crashes it's a great way to stay ahead of the curve. And it's fun (like the stock market used to be), always going up and down.

:nod:

Boy, I wish I could talk you out of this and get you to sell. Buy and Hold is silly right now. We are headed lower still.
Here is a chart of the S&P500 over the last 11 years. Had you bought an index 10 years ago you would be behind today. Doesn't say much for buy and hold.

This is followed by Gold over the last Year. It is headed higher. I'm highly recommending one only stays invested in Precious Metals or cash at this point. More to follow...

[Iceaxe]

I'm highly recommending one only stays invested in Precious Metals or cash at this point. More to follow...

Did you by any chance stay at a Holiday Inn Express last night?

:five:

[Mtnman1830]

Hey, Ice, Nice 'A' what is it a 30-31?

My dad has a 28-29 pickup. Cant wait to take it for a spin.

[CrazyFinn]

I'm highly recommending one only stays invested in Precious Metals or cash at this point. More to follow...

Did you by any chance stay at a Holiday Inn Express last night?

:five:

Well, now that you mention it. :haha:

I just hate seeing people that have spent a lifetime saving for retirement and then watching it all go down the drain right in front of me. I have friends doing the same thing and they don't listen to me either. But they are losing money and I'm not (anymore).

I feel like going on a Donny H rampage over this.

We are headed for the greatest depression any of us have seen. I think even greater than the 30's and people are just passing it off and acting like tomorrow we will be just fine. But the facts say watch out below. The problem is that NONE of us recognize whats in front of us because we have never been here before.

If you have drank the kool-aid and are listening to the man or getting your news from the media I suggest you get your head out of the sand and start researching on your own.

OK, I'm going back to the Holiday Inn Express for awhile.... :frustrated:

[rockgremlin]

Actually, I read an article recently that said that crime actually drops during times of depression/recession. The theory was that during tough economic times people tend to stick together closer to family for support.


The DJIA is a joke. Seriously -- a huge bunch of crybabies. Their buy/sell strategies are all so subjective, it's just stupid. Several weeks ago, stocks dropped because the stimulus package was stalled in the senate, and it didn't look like it was gonna be resolved soon. Then on the very day it was signed by Obama the Dow dropped 300 points. So basically, they used the stimulus package as an excuse to unload stocks both because it wouldn't pass soon, and then because it eventually did pass. Some days the Dow drops because the consumer index drops, but then other days it drops significantly on days where the consumer index has significant gains. There is absolutely no rhyme nor reason to why or how the DJIA functions. I swear it's run by teenage girls and post-menopausal women.

[Deathcricket]

Boy, I wish I could talk you out of this and get you to sell. Buy and Hold is silly right now. We are headed lower still.
Here is a chart of the S&P500 over the last 11 years. Had you bought an index 10 years ago you would be behind today. Doesn't say much for buy and hold.

This is followed by Gold over the last Year. It is headed higher. I'm highly recommending one only stays invested in Precious Metals or cash at this point. More to follow...

Right now I'm just looking short term. Long term I would totally have to agree with you. But:

1. I can't see buying more stocks when most likely we've not hit bottom yet. You buy something, it drops, you lose money. I want to start buying it when it hits rock bottom. Not there yet I feel.

2. Everyone and their mom is buying gold right now. That's why it's skyrocketing. But remember, you only make the profit when you actually sell. So if the future is indeed bleak then buying gold is great, gold will continue to shoot up. But if the economy turns around, everyone will offload their gold shares and it will go right back down. So long term, gold might not reach these levels again for a long time right? I don't have gold, but if I did, I would wait about 5-6 more months then sell it I think.

3. I think we're doing the wrong thing with these bailouts. I'm convinced that it's making our dollar weaker against other currencies. Putting my money where my mouth is, hehe. Short term though. I think we'll wise up pretty soon, my prediction is after the 5th or 6th bailout attempt. 3 or 4 years? I just get an email when my currency reaches a prescribed value then convert it. Right now I'm going for the Franc, bought some last wed on the 18th. Go Swiss go!

Where's my crystal ball? To be honest my stocks (over 12 years of investing) I have lost so much, the amount I could lose from investing now is inconsequential. Ice's idea of women cars and booze sounds smarter. I'm still buying Oracle stock though. They give me an employee discount, woohoo!

:haha:


Oh and for Ice I proudly submit the Saleen S7. If I had 600K burning a hole in my pocket.....

[CrazyFinn]

Iceaxe - Thats a SWEET car!! :2thumbs: :2thumbs:



Right now I'm just looking short term. Long term I would totally have to agree with you. But:

1. I can't see buying more stocks when most likely we've not hit bottom yet. You buy something, it drops, you lose money. I want to start buying it when it hits rock bottom. Not there yet I feel.

2. Everyone and their mom is buying gold right now. That's why it's skyrocketing. But remember, you only make the profit when you actually sell. So if the future is indeed bleak then buying gold is great, gold will continue to shoot up. But if the economy turns around, everyone will offload their gold shares and it will go right back down. So long term, gold might not reach these levels again for a long time right? I don't have gold, but if I did, I would wait about 5-6 more months then sell it I think.

3. I think we're doing the wrong thing with these bailouts. I'm convinced that it's making our dollar weaker against other currencies. Putting my money where my mouth is, hehe. Short term though. I think we'll wise up pretty soon, my prediction is after the 5th or 6th bailout attempt. 3 or 4 years? I just get an email when my currency reaches a prescribed value then convert it. Right now I'm going for the Franc, bought some last wed on the 18th. Go Swiss go!

Where's my crystal ball? To be honest my stocks (over 12 years of investing) I have lost so much, the amount I could lose from investing now is inconsequential. Ice's idea of women cars and booze sounds smarter. I'm still buying Oracle stock though. They give me an employee discount, woohoo!
:haha:



I pretty much agree with all 3 points with an exception. Because of all the spending we will be looking at pretty severe inflation down the road. Then gold will really take off. This would also make IceAxes idea of cars and woman a good idea. I mean investing your money in something of value as the value of the dollar crashes.

Also, gold itself is doing better than the miners because of everyone and their mom buying it (around the world).

And don't forget that other countries are actually worse off so this will be a global depression. Sucks bigtime!

Following Ice's theme I'm actually thinking about taking out half my retirement, paying the penalty, and investing in STUFF around the house that would be valuable in a depression. And I'm only 2 years away from legally withdrawing it. :frustrated:

Somewhere down the road the dollars in my retirement won't be worth much. But STUFF will be, guns, ammo, tractors, nails, plows, who knows. I need to make a list.

A car or another woman is probably not in the picture. :haha:

[CrazyFinn]

Actually, I read an article recently that said that crime actually drops during times of depression/recession. The theory was that during tough economic times people tend to stick together closer to family for support.

It's pretty strange but a lot of retirement money is riding on it and the sheeple have been told all sorts of stuff so they hang on. When I sell my precious metals stuffI'm out for good.

Gonna take up cars and woman. :five:


I swear it's run by teenage girls and post-menopausal women.

If they would have used the ones that baked those girl scout cookies it might have worked. Dang... :nod:

[CrazyFinn]

This is what we're going to need!


http://www.youtube.com/watch?v=15Lz8r19xCM

[trackrunner]

That's what I used to do.... but I'm nearing the age where the stocks might not rebound by the time I want to retire.


A popular rule of thumb is to subtract your age from 100. The difference represents the percentage of stocks you should keep in your portfolio. For example, if you are age 40, 60 percent (100 minus 40) of your portfolio should consist of stock. However, you may want to modify the result after considering other factors, such as your age, risk tolerance, and financial goals.

[Iceaxe]

We are headed for the greatest depression any of us have seen. I think even greater than the 30's and people are just passing it off and acting like tomorrow we will be just fine. But the facts say watch out below.

While I'm not sure things will be worse then in the 30's I think you are correct in that we still have a long ways to go before we hit bottom.

One thing to remember about the 30's is we had the dust bowls, which had nothing to do with the economy....

food for thought....

:popcorn:

And there is no way in hell you can go wrong with getting finacial advise from Bogley. :lol8:

:five:

[CrazyFinn]

Eventually this will apply:


http://www.youtube.com/watch?v=A2GnOAWCdnc

[Iceaxe]

This is more my style.....


http://www.youtube.com/watch?v=0RRxHSCW_Iw

well it's midnight, damn right, we're wound up too tight
I've got a fist full of whiskey, the bottle just bit me
ooooooooooooooohhhhhhhhhhh
that shit makes me bat shit crazy
we've got no fear, no doubt, all in balls out

We're going off tonight
to kick out every light
to get anything that we want
To drink everything in sight
We're going till the world stops turning
while we burn it to the ground tonight
ooooohhhhhhh

we're screaming like demons, swinging from the ceiling
I got a fist full of fifties, the tequilia just hit me
ooooohhhhh
we got no class, no taste, no shirt, and shit faced
we got it lined up, shot down, firing back straight crown

We're going off tonight
to kick out every light
to get anything that we want
To drink everything in sight
We're going till the world stops turning
while we burn it to the ground tonight
ooooohhhhhhh

ticking like a time bomb, drinking till the nights gone
well get you hands off of this glass, last call my ass
weeelllll no chain, no lock, and this train won't stop
we got no friend, no tab, all in balls out

We're going off tonight
to kick out every light
to get anything that we want
To drink everything in sight
We're going till the world stops turning
while we burn it to the ground tonight
ooooohhhhhhh
We're going off tonight
to kick out every light
to get anyything that we want
To drink everything in sight
We're going till the world stops turning
while we burn it to the ground tonight

:rockon:

[CrazyFinn]

Alright that was good! :rockon:
I guess I'm feelin that way too!

[cachehiker]

Following Ice's theme I'm actually thinking about taking out half my retirement, paying the penalty, and investing in STUFF around the house that would be valuable in a depression. And I'm only 2 years away from legally withdrawing it. :frustrated:

New windows, new roof, 18" of attic insulation, currently insulating the garage, ...

I already get by without AC and I'm down to a peak of 0.40 decatherms/day to heat a large house in Logan. The long term goal is about 0.30 at which point I could heat the place with firewood.

Moving on to new doors, doubling up the basement insulation, solar panels, maybe a wind turbine, possibly even running a vehicle off fermented and distilled yard clippings, ...

One thing can be counted on, as demand for oil outstrips supply, energy will start to get very expensive. I plan to have myself way ahead of that curve. :cool2:

[Iceaxe]

possibly even running a vehicle off fermented and distilled yard clippings, ...

Not enough energy stored in yard clippings.... unless your yard clippings contain a lot of corn and sugar cane.

:cool2:

[CrazyFinn]

New windows, new roof, 18" of attic insulation, currently insulating the garage, ...



You Da Man. Thats exactly the thinking thats needed. I just built my house and I have a 25 degree differential in the summer inside/outside. In the winter it's around 15 degrees but after the county signs off on it I'll add a pellet stove and thats all the heat we will need. :2thumbs:

We also have a water well that I will connect to the toilets as well as irrigate the land. We have 1.6 acres and will grow some kind of food. Wife had corn going last year. I had the water tested and it's undrinkable only because of nitrates from local chicken farms. But I heard that can be taken out by reverse osmosis. A generator is on my list of STUFF.

[cachehiker]

Haven't really looked into it myself. I used to work with a guy who ran his yard tractor and his old truck on alcohol from a still. He supposedly had a permit to do so. I know he dumped a lot of yard and garden waste into it. I also know he didn't get much fuel out of it, left the truck parked most of the time, and drove the car which was still gasoline powered.

I brought it up because my half acre generates around 5 tons of biomass every year (50% leaves, 50% grass). Even a marginally effective process could potentially net me around 50 gallons of ethanol = 5000 miles on a motorized bicycle if I could make it work.

BTW, I'm rebuilding my old bomber as a motorized bicycle around a Chris Hill CH80 engine this summer as well. It will be nice to make a 30 mile beer run at 35-40 mph and use less than a quarter of a gallon of gas.

:2thumbs:

[DiscGo]

Did you by any chance stay at a Holiday Inn Express last night?

:five:


:roflol:

[oldno7]

Eventually this will apply:


http://www.youtube.com/watch?v=A2GnOAWCdnc


I must have wore out 3, 8-tracks of the Outlaws in the 70's. Thanks for the memory.

[oldno7]

Barring a late day selloff here, This should be a reversal day. But reversal's in bear markets can be short lived.

[Iceaxe]

I'm waiting for a 7000 point reversal day..... :nod:

[oldno7]

I'm waiting for a 7000 point reversal day..... :nod:

Today is a low, only time will tell if it is a short term or long term low.(IMHO)

I manage my own acct's and moved considerably back in today. But I trade very short term.

This is the best low set-up in months-- once again(IMHO)

[CrazyFinn]

I used to work with a guy who ran his yard tractor and his old truck on alcohol from a still. He supposedly had a permit to do so. I know he dumped a lot of yard and garden waste into it. I also know he didn't get much fuel out of it, left the truck parked most of the time, and drove the car which was still gasoline powered.

If I got alcohol from a still, I'mnot sure I would put it in my tractor. :haha:



I brought it up because my half acre generates around 5 tons of biomass every year (50% leaves, 50% grass). Even a marginally effective process could potentially net me around 50 gallons of ethanol = 5000 miles on a motorized bicycle if I could make it work.

BTW, I'm rebuilding my old bomber as a motorized bicycle around a Chris Hill CH80 engine this summer as well. It will be nice to make a 30 mile beer run at 35-40 mph and use less than a quarter of a gallon of gas.

:2thumbs:

That will be a cool bicycle. :2thumbs:

I have a diesel truck and I need to get that on my list - biodiesel. I'm also planning a solar water heater for the roof. I have southern exposure and we get tons of sun here all year around.

[cachehiker]

If I got alcohol from a still, I'mnot sure I would put it in my tractor. :haha:

He also made a little corn liquor in the fall (illegally) and I always thought the tractor was the best place for it.