***Official*** 2008 Stock Market Thread

[Azurik]

Originally posted by: Slew Foot

Originally posted by: Azurik

Originally posted by: Naustica
Are we going to trigger circuit breakers before this is all over?

My brain says to go all in but my hand isn't complying. Hedgefunds just threw up a big chunk of nasty.

I'm so fvcking glad I paid off my mortgage early this year. If I hadn't, I might be on the streets before this is all over.

Unless we enter hyperinflation (not-likely, but still a chance), having a mortgage might actually be a great hedge.

Wouldnt having a mortgage be a great thing in hyperinflation? Get to pay off your home with worthless dollars.

Yes, it would be a great thing. We're saying the same thing. Having a mortgage is a great hedge bet against hyperinflation.

 

[dmcowen674]

Originally posted by: jpeyton
Over the last year:

DJIA has dropped 5585.34 or 39.43% :shocked:

Another 50% to go

 

[ponyo]

woot! Japan Nikkei down over 10% already and Korea Kospi down over 8%. Joy joy.

Frown :frown:

 

[ponyo]

We need a HUGE down open tomorrow. If we get that, I'm going all in. I will go down with the ship or catch a trade of a lifetime.

 

[Oceandevi]

Well at least we are here to witness this historic moment... lol

 

[jpeyton]

Originally posted by: Naustica
woot! Japan Nikkei down over 10% already and Korea Kospi down over 8%. Joy joy.

Frown :frown:

A year ago Nikkei was at 17,500.

LAWL

 

[ponyo]

Originally posted by: Oceandevi
Well at least we are here to witness this historic moment... lol

I think tomorrow is the D-day. We either plunge into the abyss or rebound. It's the most important day this year IMO.

 

[jpeyton]

Originally posted by: Naustica

Originally posted by: Oceandevi
Well at least we are here to witness this historic moment... lol

I think tomorrow is the D-day. We either plunge into the abyss or rebound. It's the most important day this year IMO.

Meh, not really. We're in a sustained depression of the markets.

We dropped 777 points in one day, but rebounded big time the next day. People said the same thing then.

The fact is, nobody knows exactly where the bottom really is. We're just going to continue taking one step forward, two steps back until confidence is restored in our markets.

We very well might post big gains tomorrow, but I'll bet that we're going to have more dark days next week that erase those gains.

 

[EKKC]

Originally posted by: jpeyton

Originally posted by: Naustica

Originally posted by: Oceandevi
Well at least we are here to witness this historic moment... lol

I think tomorrow is the D-day. We either plunge into the abyss or rebound. It's the most important day this year IMO.

Meh, not really. We're in a sustained depression of the markets.

We dropped 777 points in one day, but rebounded big time the next day. People said the same thing then.

The fact is, nobody knows exactly where the bottom really is. We're just going to continue taking one step forward, two steps back until confidence is restored in our markets.

We very well might post big gains tomorrow, but I'll bet that we're going to have more dark days next week that erase those gains.

i rather we just lose more and the dow dip into 6000s and 7000s and then i'll be confident enough to inject cash into my account. let it drop 1500 points tomorrow i say.

as opposed of this painful, slow, march to recession/depression

 

[ivan2]

I will need to see tomorrow's LIBOR to call. I am putting JPM if it stay above 4.5%

 

[rise]

uggg, looks like another great day

wheres the bottom going to be? i want to buy more but it seems to just keep getting worse.

 

[Epic Fail]

All the international indexes dropped around 8% today.

 

[ivan2]

is it me or ameritrade's system just went nuts.

 

[her209]

I had a nightmare last night that the DJIA lost 4000. It scared the crap out of me.

 

[ponyo]

It's trying a reversal. It's too early so another downturn will likely come. The easy trade passed. If you can call buying that plunge easy.

 

[ponyo]

BAC is positive. Financials must lead!!!

 

[ponyo]

Banks are leading. That is giving me confidence. How shaky that might be.

 

[ivan2]

thank god i was wrong, come back up JPM!

 

[Azurik]

I am now 100% in stocks as of today. I sold all bonds and fixed income securities. VIX (fear index) is at 70, which is an all-time high.

 

[abovewood]

Sold Jan 2010 $30 GE calls for $2.25
I might buy INTC with the money from selling the GE calls.

Any opinion about INTC?

 

[Ricochet]

So much for the rally. Wonder what will happen comes Monday.

 

[ponyo]

Originally posted by: Azurik
I am now 100% in stocks as of today. I sold all bonds and fixed income securities. VIX (fear index) is at 70, which is an all-time high.

Let's make some money. I'm all in as well. I'm purely in for a trade. I was early this week and have taken some pain but I'm not giving up yet. I will exit this trade when all the chicken little scream it's safe.

Last 30 minutes of today is the key. Recovery from the opening plunge was somewhat expected but we rallied too fast too quick for it to stick for rest of the day so I expected a retest. We're going to need to rally this afternoon and make it stick the last half today.

 

[jpeyton]

The market value of GM & Ford combined is now ~$10 billion :laugh:

Damn :shocked:

 

[Engineer]

Heh, just read where the "world leaders" are considering shutting down the world markets - at least until the financial rules and bailouts are in place. Talk about causing a panic right before it closes if that were to happen. A run on the market....straight into the ground.

 

[ponyo]

Originally posted by: jpeyton
The market value of GM & Ford combined is now ~$10 billion :laugh:

Damn :shocked:

What's funny is that both companies have come out today and said bankruptcy is not an option. Like they have any say.