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roadwarrior

The Stock Thread

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its getting to the point of limbo.

How low can we go.  Maybe I should start putting my 401k money on the blackjack table.  Might be better odds right now.  

Double down double down.  WHOOHOOO!

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How low can we go.

Some people claim there is a lot of support at 7000 on the DOW,

but 5000 is possible. Most people already know that the auto industry

is insolvent, but the actual filing for bankcruptcy is probably worth an

across the board 10% drop in the indexes. It's pretty easy to get down

to 7000 from here.

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I hope they are wrong but probably not.  They know alot more then me.

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Might as well make this a "sticky" and keep it on top.  :'(

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Muddy's totsl stock investment before the slide: $0.00

Muddy's total loss since the slide  $0.00

I don't feel so disadvantaged these days :-?

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Well, the sad part is that a lot of "regular working people"

have been doing the right thing by saving, relying on professional

management to diversify their investments and simply build for

retirement.

I find it repulsive for these people to have been duped.

Losing half your lifetime savings in a year is unexceptable.

I have so much empathy for the situation, but it will not

be resolved.

Put your money into a savings account and ride out the storm.

In my personal and professional opinion, things are going to get

much worse.

>:(

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I am with you Kent, my friends have really been hurt and they are all in their late 50's and early 60's and can not afford to wait for it to rebuild. Many do not even have the values for the homes they own to sell for that nest egg.

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i just talked to my dad about this tonight, him and my mom are both in their sixties and both retired.  he said they have lost almost $80,000 over the last two years.  the thing that i think is crazy, is they talk about it like they lost a one dollar bill!!!  my folks have always had money invested, and they are having a good retirement.  my dad told me once that he has never, in his life, had a car payment!, and as far back as i can remember, they havent ever had a house payment either.  he has faith that after the first of the year things will get better.  i dont know anything about stocks and 401k's and all that, but i trust in what my dad says.

Cliff

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My dad is 4 years from retirement and down over 160K for the last year. We talk about this everyday and the good news is that the market has always come back stronger than it was before. Hopefully that turnaround will begin sooner than later.

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Well, the sad part is that a lot of "regular working people"

have been doing the right thing by saving, relying on professional

management to diversify their investments and simply build for

retirement.

I find it repulsive for these people to have been duped.

Losing half your lifetime savings in a year is unexceptable.

I have so much empathy for the situation, but it will not

be resolved.

Put your money into a savings account and ride out the storm.

In my personal and professional opinion, things are going to get

much worse.

>:(

Ahh hum, That would be me >:(

My poor deferred comp plan is about smashed right now.

I'm 39 years old. I've been in Law Enforcement 14 years and can retire from it at 20 years.

With this going on, that's not gonna happen...... :-/

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The upside to all this is that if you are 5, 10, 15 or 20 years from retirement, you are doing yourself a absolute, unequivocal injustice buy not buying stock.  Stocks and funds are cheaper than they have been in many years.   It is inevitable that stocks will be going back up, as inevitable as it was that gas prices would not stay at $4.00+ per gallon.   Stocks are still going to substantially outperform cash over the long haul.   Recessions like this don't last.  They never do.  If you haven't invested in stock before public opinion says the recession is over, you will have missed the boat.  Economies improve long before people think they do, and the window for the biggest, fastest gains are before the vast majority of people even recognize it.  

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Ahh hum, That would be me >:(

My poor deferred comp plan is about smashed right now.

I'm 39 years old. I've been in Law Enforcement 14 years and can retire from it at 20 years.

With this going on, that's not gonna happen...... :-/

It won't happen if you make lousy decisions and move your money from stock funds (if thats what you have) into cash investments out of fear.   You have a long time to go before retirmenent and you fall precisely into the category of people who have the opportunity to take advantage of the current market and position yourself for huge gains when the make turns around, as it surely will.   If you are in stocks, stay in stocks.   Buy more while they are cheap (by increasing your contributions to your plan).  The relative value of your portfolio may be down, but now is the time to increase your share holdings.  

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The upside to all this is that if you are 5, 10, 15 or 20 years from retirement, you are doing yourself a absolute, unequivocal injustice buy not buying stock. Stocks and funds are cheaper than they have been in many years. It is inevitable that stocks will be going back up, as inevitable as it was that gas prices would not stay at $4.00+ per gallon. Stocks are still going to substantially outperform cash over the long haul. Recessions like this don't last. They never do. If you haven't invested in stock before public opinion says the recession is over, you will have missed the boat. Economies improve long before people think they do, and the window for the biggest, fastest gains are before the vast majority of people even recognize it.

Funny thats what the 401 K guys, From Fidelity- said 15 years ago to 523 workers at my site. 418 listned to them , and everyone I know who took that advice then is in the hole now. I could not buy at the time and I never will trust these mooks with my money

Just last week they were saying it is best not to run and stay in, so my friend Ralph did, that cost him another 9,300 bucks. Ralph is 64 years old and will never see that money come back, he should have been told to take out what he has left, I am no expert I have never been anyone's fool either. They are all too greedy and self serving for me to trust. That advice was not the truth and you do o not have to be a weatherman to know which way the wind is blowing.

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I have deemed to not only leave my stocks alone but even buy more at the low prices. Our company contributes all our profit sharing straight to 401k and buys us stock options every 6 months in the company.

Over the last 5 years these contributions have been very substantial,,So yes I along with many have lost big,

But there again I have a ways to go before retirement.The way I see it I have to contribute to 401 because the social securities may not be there when I retire?

Luckily I am fortunate enough to put in the max allowed.

LIFES A GAMBLE YOU NEVER KNOW WHAT'S GONNA HAPPEN

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The DJIA breached 2008 intraday lows earlier, but has recoverd

100 points. Still, we are trading below all previous 52 week lows

excluding today.

DJIA -132 at 7865

S&P -16 at 790

Oil       $50.45

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Funny thats what the 401 K guys, From Fidelity- said 15 years ago to 523 workers at my site. 418 listned to them , and everyone I know who took that advice then is in the hole now.

They can't be in the hole for the entire investment.

In 1993 the S&P500 was in the mid 400's.  Now it's 790 (but falling).  So, the initial investments (in the 400's) are up 75%.  $1,000 invested in 1993 in an S&P 500 fund would be worth roughly $1,750 today.

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Well, 1993 was a couple of years before the *** Bubble (1995-2001),

but Muddy's friends may have been caught up in some of that. A lot of people

lost everything.

We are at the beginning of a worldwide recession, not in the middle or near the end.

Individual stocks and indices will fall much further before recovery begins. Save

your powder until everyone else cashes in their chips.

8-)

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How big of an impact to you think the next administration's tax policy will have? I find it unbelievable that at a time like this, there are even considerations of increasing the capital gains tax and the corporate tax rate. Could some of this current market drop be attributed to the possibility/probability of these types of tax increases?

I like the idea of suspending the capital gains tax and at least leaving the corporate tax rate where it is, if not cutting it.

Granted, a very different situation, but look at Ireland - they used to be the poorest country in Europe. They cut the corporate tax rate to 12% and they are now the richest country in Europe, IMO in no small part to cutting that tax rate. After the 1929 market crash, taxes went way up, which was probably a leading factor in the ensuing 10 years of depression.

?

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Just last week they were saying it is best not to run and stay in, so my friend Ralph did, that cost him another 9,300 bucks. Ralph is 64 years old and will never see that money come back, he should have been told to take out what he has left, I am no expert I have never been anyone's fool either. They are all too greedy and self serving for me to trust. That advice was not the truth and you do o not have to be a weatherman to know which way the wind is blowing.

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I am not an expert either, neither was Ralph , he planned on retiring at 68, he was waiting for the missus to retire, His expert told him to leave it :-[

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First rule: Never,ever gamble with your own money

Second Rule; Never let anyone  else gamble with your money

Frankie the Hat, best Bookie and investor I ever Knew

 I used to gamble and do a lot of other foolish things, then it all came down! I know have a simple and humble life, a great woman, a fine grown daughter and a few close friends. I do not think i could have it any better than tthat. I also never have to check a quote to see how my soul is doing 8-)

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DJIA -444 at 7553 (lowest close in 5 years)

S&P -54 at 752 (lowest in 11 years)

Both indexes broke through previous intraday lows and within a few

points of session lows. Overnight, expect world markets to fall off a

cliff. Tomorrow's domestic market has the potential to be devastating.

Govenment bonds, in every maturity, finished at their

LOWEST LEVELS IN HISTORY!

Three-month Treasury Bills yield .02, that's 2/100ths of 1%.

Ten year bonds yield 3.00%

Thirty Year bonds yield 3.44%

The run in bonds warns of a complete meltdown in financial markets.

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Ouch.  Not good at all.

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