the damn stock market can stop dropping anytime now

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  • I-SIG
    I-SIG Posts: 2,243
    edited August 2007
    Like I keep telling a guy at work, "Are you retiring next year?"

    "No."

    "Then stop spazzing out."

    Wes
    Link: http://polkarmy.com/forums

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  • BottomFeeder
    BottomFeeder Posts: 1,684
    edited August 2007
    Hey hey! Looks like she's turning!

    "We're in the money...!" Sing it with me! C'mon, you know the words!
    "Wish I didn't know now what I didn't know then." Bob Seger
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  • AndyGwis
    AndyGwis Posts: 3,655
    edited August 2007
    yesterday was a roller coaster. Dow was down 240 or something when I checked, then I thought there was an error when I got home and saw I was only like $40 down on the day.

    Nice comeback! I don't worry about what the market does, per se, only how my portfolio does against the market.
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  • PolkThug
    PolkThug Posts: 7,532
    edited August 2007
    Its not about "timing the market" its about "time in the market". ;)
    Never Forget
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  • Sami
    Sami Posts: 4,634
    edited August 2007
    Well, some of us that bought VMWare IPO should be smiling... :)
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  • Sami
    Sami Posts: 4,634
    edited August 2007
    Who's talking now? Fed cuts rate and boom, it's back up. :D

    Too bad my yearly bonus wasn't due until next week, I would have put it into stocks. Oh well, it's all well and dandy, I don't want to be greedy as that's the biggest mistake in this game.
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  • danger boy
    danger boy Posts: 15,722
    edited August 2007
    I-SIG wrote: »
    Like I keep telling a guy at work, "Are you retiring next year?"

    "No."

    "Then stop spazzing out."

    Wes

    true.. but way back in 1929 did they ever think this would happen? I would think some of those people were close to retirement. :confused:

    The most famous crash, the Wall Street Crash of 1929, happened on October 29, 1929. The economy had been growing robustly for most of the so-called Roaring Twenties. It was a technological golden age as innovations such as radio, automobiles, aviation, telephone and the power grid were deployed and adopted. Companies who had pioneered these advances like Radio Corporation of America (RCA), and General Motors saw their stocks soar. Financial corporations also did well as Wall Street bankers floated mutual fund companies (then known as investment trusts) like the Goldman Sachs Trading Corporation. Investors were infatuated with the returns available in the stock market especially with the use of leverage through margin debt. On August 24, 1921, the Dow Jones Industrial Average stood at a value of 63.9. By September 3, 1929, it had risen more than sixfold, touching 381.2. It would not regain this level for another twenty five years. Even during the summer of that year it was clear that the economy was contracting and the stock market soon went through a series of unsettling price declines in early October. These declines fed investor anxiety and events soon came to a head. October 24 (known as Black Thursday) was the first in a number of increasingly shocking market drops. This was followed swiftly by Black Monday on October 28 and Black Tuesday on October 29.

    Black Tuesday was a day of chaos. Forced to liquidate their stocks because of margin calls, overextended investors flooded the exchange with sell orders. The glamour stocks of the age saw their values plummet. Radio Corporation plunged from $40.25 to $26 in the first two hours of trading (down $75 from its historic peak). The Goldman Sachs Trading Corporation opened at 60 and closed at 35. The First National Bank of New York declined from $5200 to $1600.[1] Across the two days, the Dow Jones Industrial Average fell 23%

    By the end of the week of November 11, the index stood at 228, a cumulative drop of 40 percent from the September high. The markets rallied in succeeding months but it would be a false recovery that led unsuspecting investors into the worst economic crisis of modern times
    PolkFest 2012, who's going>?
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  • candyliquor35m
    candyliquor35m Posts: 2,267
    edited August 2007
    The media doesn't help when they cover a 300 point drop like it's the end of the world. The reality is that when the dow is at 13,000, a 300 pt gain or loss should be pretty normal. I didn't read the whole thread so maybe this has already been mentioned.
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  • Sami
    Sami Posts: 4,634
    edited August 2007
    It's looking pretty good right now, don't you think?

    candyliquor35m, first time I noticed what your sig says. I'm a Finn so it made me laugh pretty good. Reminds me I need to built a sauna this year so I can start enjoying life again. :)
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  • RuSsMaN
    RuSsMaN Posts: 17,986
    edited August 2007
    bruss wrote: »
    buy buy buy

    Exactly, what an exciting time!
    Check your lips at the door woman. Shake your hips like battleships. Yeah, all the white girls trip when I sing at Sunday service.
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  • Systems
    Systems Posts: 14,873
    edited August 2007
    you know what kills me. I sat on about 450 shares of UPS stock since the day it split. Friggen stock sat there for almost 10 years at 70 per share. Since the day I sold that crap its gone up...up to like 76 now. I did this abuot 4ish months ago and it went up 6 points.
    Testing
    Testing
    Testing
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  • SKsolutions
    SKsolutions Posts: 1,820
    edited August 2007
    Get out and buy gold or real estate.

    Cash is king, money is expensive and everybody is leveraged. Buy foreign gold and/or get your money out of the dollar. When the fat lady sings, you may be crying if your 'all in'.
    -Ignorance is strength -
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  • candyliquor35m
    candyliquor35m Posts: 2,267
    edited September 2007
    The volatility might get worse according to this article. An SEC rule from the 1930's was done away with.

    http://www.investorvillage.com/smbd.asp?mb=4142&mn=8856&pt=msg&mid=2951242
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