ieatcrayonz Posted October 9, 2008 Share Posted October 9, 2008 The market has been down around 5% each day for the last 4 days. Another 16 days like this and many people will lose all of their savings. 100%. It is a very sad situation. Link to comment Share on other sites More sharing options...
erynthered Posted October 9, 2008 Share Posted October 9, 2008 2000 points, in how many days was that? Link to comment Share on other sites More sharing options...
YellowLinesandArmadillos Posted October 9, 2008 Share Posted October 9, 2008 2000 points, in how many days was that? Close at 8579, 2000 more like 2500. Down 678 today alone. Yikes. Link to comment Share on other sites More sharing options...
/dev/null Posted October 9, 2008 Share Posted October 9, 2008 Since the miraculous save the world 700B bailout was passed on Friday: Open on Oct 3: 10,483.96 Close on Oct 8: 8,579.19 Loss of 1904.77 or 18.1% Link to comment Share on other sites More sharing options...
YellowLinesandArmadillos Posted October 9, 2008 Share Posted October 9, 2008 Since the miraculous save the world 700B bailout was passed on Friday:Open on Oct 3: 10,483.96 Close on Oct 8: 8,579.19 Loss of 1904.77 or 18.1% Sorry, I was thinking more about delusional days when the market was around 11,500 to 12,000 Link to comment Share on other sites More sharing options...
meazza Posted October 9, 2008 Share Posted October 9, 2008 2000 points, in how many days was that? 34% since last year at the same spot. Link to comment Share on other sites More sharing options...
meazza Posted October 9, 2008 Share Posted October 9, 2008 Sorry, I was thinking more about delusional days when the market was around 11,500 to 12,000 TSX also down a lot. Link to comment Share on other sites More sharing options...
John Adams Posted October 9, 2008 Share Posted October 9, 2008 Since the miraculous save the world 700B bailout was passed on Friday:Open on Oct 3: 10,483.96 Close on Oct 8: 8,579.19 Loss of 1904.77 or 18.1% Just curious. How much of the money has been lent to banks so far? I'm optimistic that instead of a multiyear market plunge that we were likely going to have, we're just getting it all out of the way in a few weeks. As the bad news comes over the next few weeks with earnings, this drop should have anticipated it all. See, I'm an optimist! A nice market holiday would also cool some heads. The panic is frenzied at the moment. 500 point sell-off in an hour? Idjits. Also, Howard will be back from his Honeymoon soon. That will help. Link to comment Share on other sites More sharing options...
ieatcrayonz Posted October 9, 2008 Author Share Posted October 9, 2008 Just curious. How much of the money has been lent to banks so far? I'm optimistic that instead of a multiyear market plunge that we were likely going to have, we're just getting it all out of the way in a few weeks. Dude. 5% a day for twenty days means everything is at 0. Zeeeeee Row. You don't make that back over the next few years. All of society crumbles. If this doesn't reverse we have 16 days plus weekends before it is all gone. Link to comment Share on other sites More sharing options...
/dev/null Posted October 9, 2008 Share Posted October 9, 2008 I'm optimistic that instead of a multiyear market plunge that we were likely going to have, we're just getting it all out of the way in a few weeks. I agree. I think the market will level out around 7500 Link to comment Share on other sites More sharing options...
John Adams Posted October 9, 2008 Share Posted October 9, 2008 I agree. I think the market will level out around 7500 I couldn't predict a bottom. I just hope we get to it soon! Link to comment Share on other sites More sharing options...
Chef Jim Posted October 9, 2008 Share Posted October 9, 2008 I agree. I think the market will level out around 7500 I was going to invest a good amount into my SEP IRA tomorrow. So you're saying I should wait? Link to comment Share on other sites More sharing options...
/dev/null Posted October 9, 2008 Share Posted October 9, 2008 I was going to invest a good amount into my SEP IRA tomorrow. So you're saying I should wait? Do whatever you want. I'm no financial expert and the 7500 figure was just a rough guess. For all I know it could rebound tomorrow and jump back over 10k as fast as it's fallen. Or it could plummet even more Link to comment Share on other sites More sharing options...
Chef Jim Posted October 9, 2008 Share Posted October 9, 2008 Do whatever you want. Thank you. Link to comment Share on other sites More sharing options...
/dev/null Posted October 9, 2008 Share Posted October 9, 2008 Thank you. You're welcome. But you don't need my permission what to do with your money. I don't work for the gubmint Link to comment Share on other sites More sharing options...
Boomer860 Posted October 9, 2008 Share Posted October 9, 2008 Seems to be a lot of anger on this forum .The bright spot is PORK futures are up Link to comment Share on other sites More sharing options...
molson_golden2002 Posted October 9, 2008 Share Posted October 9, 2008 I wonder if a lot of this buyoff is by people up in years cashing in their 401ks because they think they better do it now or never see them as high again. I mean why would stock in Honda go down? Does anyone seriously think that company won't grow in the future? Link to comment Share on other sites More sharing options...
Boomer860 Posted October 9, 2008 Share Posted October 9, 2008 I wonder if a lot of this buyoff is by people up in years cashing in their 401ks because they think they better do it now or never see them as high again. I mean why would stock in Honda go down? Does anyone seriously think that company won't grow in the future? I think thats a very good observation and accurate , it will take many years for the market to recover to its highest levels if ever in our time. Link to comment Share on other sites More sharing options...
DC Tom Posted October 9, 2008 Share Posted October 9, 2008 I wonder if a lot of this buyoff is by people up in years cashing in their 401ks because they think they better do it now or never see them as high again. I mean why would stock in Honda go down? Does anyone seriously think that company won't grow in the future? "The Markets" tend to take a shorter-term view of corporate success. Honda's down because if people can't get car loans, people don't buy cars. That's probably going to be true over a 2-3 year time frame...which is actually very long-term for the stock market. Most of what you hear about corporations doesn't look out past 3-4 quarters in the future. There's other reasons, too...maybe it's just that no one's buying (since there's little cash or credit available), so normal selling pressure has nothing to absorb it. Maybe funds have to liquidate because people are readjusting their 401k's away from stocks to money markets (that's highly likely, in fact). Part of it, in Honda's case, is that auto sales are cyclical to begin with - someone who buys a car now isn't likely to again for another 5 years or so, so with the glut of new car sales in the past few years, the entire industry is due for a down-turn. Mostly, though..."the market" has an attention span of a ferret on crystal meth. Link to comment Share on other sites More sharing options...
molson_golden2002 Posted October 9, 2008 Share Posted October 9, 2008 "The Markets" tend to take a shorter-term view of corporate success. Honda's down because if people can't get car loans, people don't buy cars. That's probably going to be true over a 2-3 year time frame...which is actually very long-term for the stock market. Most of what you hear about corporations doesn't look out past 3-4 quarters in the future. There's other reasons, too...maybe it's just that no one's buying (since there's little cash or credit available), so normal selling pressure has nothing to absorb it. Maybe funds have to liquidate because people are readjusting their 401k's away from stocks to money markets (that's highly likely, in fact). Part of it, in Honda's case, is that auto sales are cyclical to begin with - someone who buys a car now isn't likely to again for another 5 years or so, so with the glut of new car sales in the past few years, the entire industry is due for a down-turn. Mostly, though..."the market" has an attention span of a ferret on crystal meth. I so hope you are right about that 2-3 year time frame. I've run into a bit of debt I want to pay off but was hoping to buy up some cheap stock for long term and Honda was my main target, along with China Mobile. Cell phones in China are a good bet for growth I'd think. Link to comment Share on other sites More sharing options...
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