Is Plunge Protection Team off today? If it keeps going like this, sheeple might wake up and swap their mutual funds for gold and hard assets
http://finance.yahoo.com/q/bc?s=^DJI&t=1y Disaster! You don't pay attention to stocks that often do you?
This is far from a crash...its just because housing info came in lower than expected...like lorien said, do you pay any attention to the stock markets? Usually things like this recover fairly quickly, within a week or two.
No, just have a general idea where it's headed because I follow the economy in general. More interested in price of precious metals and commodities, due to the nature of my investments. I figured about a year ago that stock market is due for major correction and have been out of it completely for the last few months I feel sort of sorry for those in state of euphoria, they will hold the bag all the way down to 8000, hoping that it's just housing market, temporary sell-off, or whatever. It's psychologically difficult to sell when it's going down. I was like that when internet bubble burst, still had my shares 2 years after crash. Fortunately didn't lose my shirt and learned a few things. Wondering if there is a corelation between people who buy into "robust economy" scam and those who buy into "war on terror" scam?
Precious metals are way more volatile than the Dow...you might want to rethink your investment. Gold was good 1 year ago, but it has cooled off significantly since then. Investing is an art, knowing when to sell and when to buy. I will buy more in the morning, and watch the markets come back up, then on monday, I plan on selling some of what I have bought...
Considering the index is at 14,000, a 300 point drop is nothing. A market does not only go in one directiom. Its currently on an upward curve but there are going to be some down days too. But the trend is up.
I am not a trader, I bet on long term trends. People dump dollars and move into gold anytime there is a recession and weakening dollar. Just like it happened in 1970's and 1930's. And if history is any indication, bull market in gold usually lasts 10-15 years, we are at most half the way through. Sally the Housewife doesn't even know that dollar is falling yet. Gold price won't really appreciate until she notices it and panics Nothing wrong with trading in and out, I just don't have time for it. It's like working a part-time job, if you are going to do it right
14,000 is a pretty strong barrier. I think the index will bounce off it a few times. So, yes, there i good money to be made for traders.
If anyone is interested or is into stock market trading and would like to join a forum, please visit the link in my signature.
The sky is falling, not. It wasn't a down day for all stocks. It's a market and in the market there are good and bad sectors. Financials have been getting crushed this year (woo hoo GS is below $200 now). Energy has been doing well and it's tech time again. It's earnings season. As usual, there's increased volatility. Companies with good ROW exposure are doing better than those without it. If you own mutual funds, you shouldn't even be watching the market. You've already committed yourself to being on the sidelines and letting someone else manage your money. Go watch a movie. BTW, if you're interested in Gold and other plays, you can buy ETFs (like GLD).
Hmmmm, robust economy?? Let's see, employment in L.A. broke it's all time records set in 1990 this year. Unemployment in the US is hovering between 4 and 5% even with 13 million illegal aliens. The stock market is exhibiting rational exhuberance. I am contacted at least five times per week by employment recruiters. Restaurants tell me I have to wait 45 minutes. I am going to San Diego next month and a hotel 20 miles north of San Diego and ten miles from the beach and a hotel there costs $150 to $450. People are still lining up for $4 cups of coffee and transporting them away in their $40,000 plus vehicles. Yeah times are tough <------- that's a scam.
The libs would be dripping with joy if the market crashed. To hell with the country! This is about attacking the neocons baby!
Just a FYI, the DOW was down just over 2%. Yes, that's 2%, not 20, not 50, not 70, just 2. I know words like "300" seem big and yes, the media does it's part to work people into a fever (after all, that's what sells). The DOW was actually down another 150 points, before rallying with a flurry in the last hour of trading. The last time it had this big of a dip was around March. What happened then? Oh yeah, it went from 12,000 to 14,000. When the DOW drops 20% on a single day, that's why you start praying. Let's not misuse words like "crash." I've got a huge cash surplus and I'm loving the buying opportunities that are opening up. BTW, even with the DOW pullback this week, it's still up 9.25% YTD.
Seems like you have your ear to the ground. What do you predict for the "DOW" over the next 6 months?
Goberment definition of unemployment is number of those who have been unemployed for 6 months divided by number of unemployed over 6 months+number of employed. You don't need to be economist to know that its' BS. Are there any economists who believe these numbers, except for those working for government or Fall Street? What I see is irrational euphoria. Like people who were screaming that California real estate can never go down 2 years ago, when I was accumulating gold. Look where CA RE is now, and where gold is I don't know if it's the end of stock bubble, but if it's not, it will be over soon enough. Every bubble pops eventually, and one of the signs that it's about to pop is euphorea. It's hard to find people willing to go risk their lives for a modest pay. They are yet to contact me
You can, but why? You'll have to deal with IRS. That's what makes precious metals perfect investment, when they are in bull market - you can buy them with cash anonymously. Say dollar loses 10% of value, IRS will want their share of these 10%, even though your purchasing power may be the same. I never heard of anyone being able to write off inflation as an expense