View Full Version : News Stock market slaughter
accadacca
08-08-2011, 08:57 PM
Yikes! :eek2:
Dow plunges 635 points. It's the worst day on Wall Street since 2008 crisis.
http://money.cnn.com/2011/08/08/markets/markets_newyork/index.htm?iid=Lead
47041
Another day of firsts for Obama. :facepalm1:
Dr. Nebz
08-08-2011, 10:28 PM
Another day of firsts for Obama. :facepalm1:
That is pretty short sighted of you to think that global panic is one mans fault. I think there are a host of names that can be added to the blame game beyond President Obama.
The S&P cited that their main reason for the downgrade was that we did not have our fiscal house in order, and that the wealthiest people in our country were not paying their taxes. Therefore because Washington could get nothing done, we got our credit score moved because of the gap in wealth. And this selling off is panic time as we have seen before on Wall St. Stocks go up, stocks go down. It is a great time to buy, so those with the money are just waiting for you to cash out so they can reap the rewards of the spoils of financial war. Pretty much a bunch of BS if you ask me. Death to the monetary system is how I see it. This has not worked since the times of the Babylonians, and it is never going to change. We have to change before anything will really change, and from what I have seen no one wants anything to change, they just want to try to use a scratch all to drill a hole to get us out of this mess. Not gonna work. :crazycobasa:
BruteForce
08-09-2011, 07:17 AM
Its on the rise this morning.
Sent via Galaxy Tab!
That is pretty short sighted of you to think that global panic is one mans fault. I think there are a host of names that can be added to the blame game beyond President Obama.
Never said it was one mans fault. Actually, there are five other instances where the market dropped lower in one day. He has to work harder to be number one :bandit: He is the first to have the drop in the credit rating. History will never change the first president that had that happen, he cannot escape it. Nobody ever remembers anything else as far as people or world events. His watch, his legacy. He only wants the good, but he gets the bad as well, something his ego just can't accept. Sure there are more people involved, but it's been his policies, his decisions, his direction, his presidency. You can search Google and find around eighty-eight pages of things/people he blames other than himself. He is not a "lame duck" president, so the excuses and the blame game are useless. At the end of the day this is his economy, this is his presidency. He touted how we would have been out of this by now, from his campaign speeches to speeches he has made since president. Stop whining about what he was handed, he was fully aware of what he was getting into when he took the job. (Not to mention his own spending issues) If he can't handle it, maybe he should have stuck with being a senator. Then he could have continued bashing presidents that wanted to raise the debt ceiling.
Its on the rise this morning.
Where else could it go :mrgreen:
JONBOYLEMON
08-09-2011, 07:58 AM
2 weeeks ago I sold a ton of my stocks. Worked out very well for me!!!!! Sometimes I get lucky!!!!!
Sad thing is in days past I would have reinvested this morning. I'm keeping the cash!!!!!!! The rules have changed and I am not sure where the econmy is headed, but I dont get warm and fuzzies that investing now is a good idea.
That seems to be the trend.
BLUEberryBOB
08-09-2011, 12:01 PM
That is pretty short sighted of you to think that global panic is one mans fault. I think there are a host of names that can be added to the blame game beyond President Obama.
The S&P cited that their main reason for the downgrade was that we did not have our fiscal house in order, and that the wealthiest people in our country were not paying their taxes. Therefore because Washington could get nothing done, we got our credit score moved because of the gap in wealth. And this selling off is panic time as we have seen before on Wall St. Stocks go up, stocks go down. It is a great time to buy, so those with the money are just waiting for you to cash out so they can reap the rewards of the spoils of financial war. Pretty much a bunch of BS if you ask me. Death to the monetary system is how I see it. This has not worked since the times of the Babylonians, and it is never going to change. We have to change before anything will really change, and from what I have seen no one wants anything to change, they just want to try to use a scratch all to drill a hole to get us out of this mess. Not gonna work. :crazycobasa:
Dude... as he spoke the market plunged, the guy is a puppet, every president for the last 50yrs has been a puppet.
He looks lifelike to me, did I miss the stick up his @$$ :haha:
bowjunkie
08-09-2011, 03:15 PM
He looks lifelike to me, did I miss the stick up his @$$ :haha:
:2thumbs::roflol::roflol::roflol:
BruteForce
08-09-2011, 04:04 PM
+429 DOW and +124 NASDAQ today. Always buy in a downturn.. Got some great buys on ORCL.
accadacca
08-09-2011, 04:07 PM
CRAZY!
47065
People may blame Obama, but it's interesting that the report says this (and blames the GOP):
We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.
ratagonia
08-10-2011, 04:41 AM
People may blame Obama, but it's interesting that the report says this (and blames the GOP):
C.mon Jman, you know there is no reason to let facts get in the way of ideology!
:moses:
Hmmm, holders of a third and they're to blame? Let's go with 2.5 years of failed policies and two of those years they had the super majority and the majority they have now, two years prior. I guess will have to pass it to see what's in it attitude didn't cause this type of crap? There's two different basic ideas to solve this which are polar opposites. So far, one way isn't quite working. How many people, that you know, are poor and actually spent their way to prosperity? Facts ring true? So all reports that blame the GOP must be right :lol8: The ideology comment works both ways.
accadacca
08-10-2011, 07:35 AM
And back down...
47079
rockgremlin
08-10-2011, 07:37 AM
There is very little substance to this sporatic up and down action in recent days IMO. Most of this is just emotional reaction to the credit downgrade.
The Dow was as high as its been for going on three years....investors needed a good excuse to sell and take profits. I give it 2 weeks and it will be stable again.
Most of this is just emotional reaction to the credit downgrade.
And the confidence with the government doesn't help, the credit rating just helped them prove the point.
C.mon Jman, you know there is no reason to let facts get in the way of ideology!
:moses:
It's true Tom. How dare I...
Iceaxe
08-10-2011, 11:50 AM
Honesty I think the US government should be happy with their credit rating... if it were the average person their credit would be in the toilet.
47088
BLUEberryBOB
08-10-2011, 12:55 PM
+429 DOW and +124 NASDAQ today. Always buy in a downturn.. Got some great buys on ORCL.
If I had an account I woulda bought the hell outa some stock :( but I don't. I need to get in to the stock market.
JONBOYLEMON
08-10-2011, 02:26 PM
Ummm yeah, that was fun!
BruteForce
08-10-2011, 02:30 PM
Ummm yeah, that was fun!
Agreed. -529 on the DOW. My stocks have just corrected and I'm back to where I started. No biggie. This will pass once the boneheads get it together again. Standard stuff. Sell and buy while you can, then back to day-trading.
Iceaxe
08-10-2011, 02:33 PM
If I had an account I woulda bought the hell outa some stock :(
I figured today was as good of day as any to fund the IRA's for the year.... $11,000 into several of my favorite stocks when the market bottomed out today.... we'll have to see how that works out.
"Be greedy when others are scared." - Warren Buffet
:cool2:
JONBOYLEMON
08-10-2011, 02:36 PM
SO answer me this, where does all that $ go???? Zero Sum?????
Tell you what, the markets aint what they used to be, maybe my approach has changed, but I used to get rewarded for risk, now I get hammered for thinking about risk. I am 1/2 tempted to what for however long it takes to get back to last week levels and unload.
Having cash, vs loosing out on potential gains is looking better and better. I used to make good money working for a living, but making 50% of what I used to in construction, my risk tolerance aint what it used to be. Glad to still have a job considering about 50% of the people in my field are out of work. How great is that. Slashed wages, 1/2 the force out of work. Some quick math tells me thats payrolls @ 25% of what they used to be. Not good.
PS, I hope Warren is still right! But I think the playbook might have caught fire! But yes, if you were gonna invest, today was certainly better than a week ago!!!!!
Iceaxe
08-10-2011, 02:52 PM
My thought is what else you going to do with the money? :ne_nau:
Stick it in the bank/savings/money market and just sit on the cash and you are guaranteed to be a loser because inflation will kill you.
accadacca
08-10-2011, 09:06 PM
And back down...
http://cnnmoney.mobi/primary/_YX4S9k-IVOlyaQl9v
Felicia
08-10-2011, 09:24 PM
I figured today was as good of day as any to fund the IRA's for the year.... $11,000 into several of my favorite stocks when the market bottomed out today.... we'll have to see how that works out.
"Be greedy when others are scared." - Warren Buffet
:cool2:
No - I think it will go lower, much lower. Last time, I sold when the market was at 14K. I threw it all back in by the time the market went down to 7.5K. I sold again at 12.2K. I'm not playing this time right now, maybe next month. :popcorn:
Iceaxe
08-11-2011, 10:47 AM
I guess I should have mentioned that if past history is any indication I will single-handedly cause an 800-point drop in todays DJIA by my investment.
:lol8: :lol8: :lol8:
JONBOYLEMON
08-11-2011, 11:14 AM
I guess I should have mentioned that if past history is any indication I will single-handedly cause an 800-point drop in todays DJIA by my investment.
:lol8: :lol8: :lol8:
Yep, its almost like they know when we make substantial moves personally! My trades arent even a blip on the micro traders blip watch, but it seems I can move a share price w/ very little effort. Almost always, the wrong way!!!!! Thats the reason I have to hold some stocks for sooo long. But I have made a killing in the last few years following Mr Buffets be brave when others are scared policy.:haha: Luckily I dont have to sell anything and can wait it out for another 30 years before I want to sell. Hopefully that will be a good use of my money! But I aint too encouraged.
Powered by vBulletin® Version 4.2.5 Copyright © 2025 vBulletin Solutions Inc. All rights reserved.