dmarc117 Posted November 20, 2008 Share Posted November 20, 2008 dow 7553 -443 Quote Link to comment Share on other sites More sharing options...
Jimmy Neutron Posted November 20, 2008 Share Posted November 20, 2008 Yikes. I pegged 7200 as the bottom in a thread here recently. Now I hope that's the bottom. Quote Link to comment Share on other sites More sharing options...
Furd Posted November 20, 2008 Share Posted November 20, 2008 My buddy who is a wealth manager called me after the market closed and asked me to meet him at the bar, so I could drive his drunk ass home. Quote Link to comment Share on other sites More sharing options...
wiegie Posted November 20, 2008 Share Posted November 20, 2008 (edited) My buddy who is a wealth manager called me after the market closed and asked me to meet him at the bar, so I could drive his drunk ass home. Keep in mind that the S&P is a leading indicator... you might have to drive a whole lot of people home in the coming years. (Seriously, this is going to get really bad for a lot of people (and likely a lot of people who don't know it yet).) Edited November 20, 2008 by wiegie Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted November 20, 2008 Share Posted November 20, 2008 Keep in mind that the S&P is a leading indicator... you might have to drive a whole lot of people home in the coming years. (Seriously, this is going to get really bad for a lot of people (and likely a lot of people who don't know it yet).) Sooooooo, I've been thinking about maxing out my 401k since I can do the over-50 catch up thing and add $5,500 to the maximum. My logic is that shares are dead cheap right now and although maybe not at the bottom, it's surely quite near. Bearing in mind it's almost impossible to time the market accurately and missing two or three days of a bull market can cost tens of thousands, is it a good move to max out right now? Or not? Quote Link to comment Share on other sites More sharing options...
MrTed46 Posted November 20, 2008 Share Posted November 20, 2008 Sooooooo, I've been thinking about maxing out my 401k since I can do the over-50 catch up thing and add $5,500 to the maximum. My logic is that shares are dead cheap right now and although maybe not at the bottom, it's surely quite near. Bearing in mind it's almost impossible to time the market accurately and missing two or three days of a bull market can cost tens of thousands, is it a good move to max out right now? Or not? No one can answer that question. Right now is Vegas style (the market). I would think we are near the bottom but who the hell really knows. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted November 20, 2008 Share Posted November 20, 2008 No one can answer that question. Right now is Vegas style (the market). I would think we are near the bottom but who the hell really knows. I realize it's a tough question but (in part) my logic runs that getting in now can't cost me much, certainly not as much as it's cost over the last year. Quote Link to comment Share on other sites More sharing options...
isleseeya Posted November 20, 2008 Share Posted November 20, 2008 Keep in mind that the S&P is a leading indicator... you might have to drive a whole lot of people home in the coming years. (Seriously, this is going to get really bad for a lot of people (and likely a lot of people who don't know it yet).) This is the truth ...it almost makes no sense to check the stock market results each day if you dont have to because its not something that will get better anytime soon and stay better Quote Link to comment Share on other sites More sharing options...
whoopazz Posted November 20, 2008 Share Posted November 20, 2008 At this rate, I'll be working til my last breath, this after thinking I was in good shape a couple years ago Quote Link to comment Share on other sites More sharing options...
Missoula Griz Posted November 20, 2008 Share Posted November 20, 2008 Sooooooo, I've been thinking about maxing out my 401k since I can do the over-50 catch up thing and add $5,500 to the maximum. My logic is that shares are dead cheap right now and although maybe not at the bottom, it's surely quite near. Bearing in mind it's almost impossible to time the market accurately and missing two or three days of a bull market can cost tens of thousands, is it a good move to max out right now? Or not? yea, I am making a similar move. Quote Link to comment Share on other sites More sharing options...
H8tank Posted November 20, 2008 Share Posted November 20, 2008 Hope! Quote Link to comment Share on other sites More sharing options...
westvirginia Posted November 20, 2008 Share Posted November 20, 2008 I realize it's a tough question but (in part) my logic runs that getting in now can't cost me much, certainly not as much as it's cost over the last year. By the time they end up printing all the extra funds for the bailouts your fedgov reserve notes won't be worth anything anyway. Might as well beat the hyper-inflation coming by buying things... Quote Link to comment Share on other sites More sharing options...
Jimmy Neutron Posted November 20, 2008 Share Posted November 20, 2008 By the time they end up printing all the extra funds for the bailouts your fedgov reserve notes won't be worth anything anyway. Might as well beat the hyper-inflation coming by buying things... Saw an article on deflation today - really bad news.... Quote Link to comment Share on other sites More sharing options...
polksalet Posted November 20, 2008 Share Posted November 20, 2008 I pulled my Wal-Mart stock a month ago. I'm gonna drop the funds on some cheap dirt I have found. But we still have profit sharing and 401k tied up in index funds. I'm simply not smart enough to be a good stock market investor. Quote Link to comment Share on other sites More sharing options...
Jimmy Neutron Posted November 20, 2008 Share Posted November 20, 2008 I'm simply not smart enough to be a good stock market investor. Millions are thinking the same thing right now. Quote Link to comment Share on other sites More sharing options...
polksalet Posted November 21, 2008 Share Posted November 21, 2008 Millions are thinking the same thing right now. The difference between me and them, I know my limitations. I'm going to do the bulk of my future investingin things I understand and have some control over. Quote Link to comment Share on other sites More sharing options...
wiegie Posted November 21, 2008 Share Posted November 21, 2008 Saw an article on deflation today - really bad news.... really bad news Quote Link to comment Share on other sites More sharing options...
muck Posted November 21, 2008 Share Posted November 21, 2008 Deflation now. Inflation later (maybe hyper inflation). ...it will involve a gigantic tipping point, and millions will be skewered on the end of that stick...imo... Trust me when I say I'm having a hard time figuring out what to allocate capital to now. Quote Link to comment Share on other sites More sharing options...
millerx Posted November 21, 2008 Share Posted November 21, 2008 there are many more people on this site smarter than I, especially when it comes to the market and jobs. Toward the latter...how do you see the jobs market going? Thankfully, I am not worried about myself, but do have a brother-in-law I am quite concerned about? How much worse are we talking and for how long? Quote Link to comment Share on other sites More sharing options...
polksalet Posted November 21, 2008 Share Posted November 21, 2008 there are many more people on this site smarter than I, especially when it comes to the market and jobs. Toward the latter...how do you see the jobs market going? Thankfully, I am not worried about myself, but do have a brother-in-law I am quite concerned about? How much worse are we talking and for how long? I was talking to some firneds about this earlier. I actually have a fallback plan to where we can make it on $1200 per month. I hope it doesnt come to that but sometimes being part cockroach comes in handy. Quote Link to comment Share on other sites More sharing options...
wiegie Posted November 21, 2008 Share Posted November 21, 2008 (edited) there are many more people on this site smarter than I, especially when it comes to the market and jobs. Toward the latter...how do you see the jobs market going? Thankfully, I am not worried about myself, but do have a brother-in-law I am quite concerned about? How much worse are we talking and for how long? I'm not claiming to be smarter than anybody by a long-shot, but I am very worried about the overall labor market. I would be very happily surprised if unemployment rates topped out at under 8% and I would not be overly shocked if they actually went above 10%. And I think the poor labor market is going to be around for at least a year if not longer. (I am somewhat of a pessimist at heart, but I have told my siblings, who are in procyclical industries, that they really need to be prepared for the worst.) Edited November 21, 2008 by wiegie Quote Link to comment Share on other sites More sharing options...
jackshi17 Posted November 21, 2008 Share Posted November 21, 2008 I listened to some Asian economists having a round table discussion last weekend and they basically said: Large companies have more inventory on hand than the value of their stock in the market (therefore the bottom has to be near) As soon as the great majority of amatuer stock players, sell out in a panic the market should calm down with professionals in charge. I liked what they were saying so I believe them. Quote Link to comment Share on other sites More sharing options...
muck Posted November 21, 2008 Share Posted November 21, 2008 Large companies have more inventory on hand than the value of their stock in the market (therefore the bottom has to be near) ...interesting... Quote Link to comment Share on other sites More sharing options...
SheikYerbuti Posted November 21, 2008 Share Posted November 21, 2008 I would be very happily surprised if unemployment rates topped out at under 8% and I would not be overly shocked if they actually went above 10%. On NPR yesterday they said if the big 3 auto makers go under, that's 3,000,000 jobs lost in the US. So, there's 1% of the US population right there. Quote Link to comment Share on other sites More sharing options...
BiggieFries Posted November 21, 2008 Share Posted November 21, 2008 I have an old 401K that I haven't rolled over yet. I just got the statement for it last month and it's been up 3% since last year. I think I might have to leave it where it is and not roll it over just yet! Quote Link to comment Share on other sites More sharing options...
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