14
   

The DOW is down 222 points today

 
 
Reply Mon 2 Mar, 2009 11:10 am
I've been saving half of the funds I sold when the market was above 14000. I bought back 50% when the market was down to 8500, and wondered if I should purchase another 25% today?

What do you think and why?

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Type: Question • Score: 14 • Views: 10,624 • Replies: 147
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Cycloptichorn
 
  1  
Reply Mon 2 Mar, 2009 11:16 am
@cicerone imposter,
cicerone imposter wrote:

I've been saving half of the funds I sold when the market was above 14000. I bought back 50% when the market was down to 8500, and wondered if I should purchase another 25% today?

What do you think and why?


Not yet. I don't think we're near the bottom yet. All that toxic **** on the books will eventually have to come out. We're still putting off the realization of what that means for US companies.

Cycloptichorn
0 Replies
 
ebrown p
 
  1  
Reply Mon 2 Mar, 2009 11:24 am
If you had some way to tell the future... then timing the market would be a very good thing. In absence of a crystal ball, timing the market is a fools game.

If I had extra money to invest, I would be putting it in right now (actually I just upped my paycheck withholding for my 401K). If you want to minimize the risk of missing the exact bottom point, simply dollar cost average your way in.
cicerone imposter
 
  1  
Reply Mon 2 Mar, 2009 11:33 am
@ebrown p,
ebrown, I agree that timing the market is a fool's game, but I'm not a day trader. I'm looking at the macro-economic's trends in the world economy and when I sold the funds. There are other variables in play now with the government's stimulus plan, but I agree with Cyclo that we've still not reached the bottom - or even near bottom.

Your "averaging" is a good idea if one is still working, but I've been retired since 1998.
0 Replies
 
Cycloptichorn
 
  1  
Reply Mon 2 Mar, 2009 11:35 am
When I see stuff like this on CNBC -

Quote:


European banks have $24 trillion of toxic assets on their balance sheets.



And think of the implications, I think we're still in for a lot of uncertainty and trouble ahead.

Cycloptichorn
rosborne979
 
  1  
Reply Mon 2 Mar, 2009 11:57 am
@cicerone imposter,
Now is the time to buy. It'll never get below 6500. (remember, free advice is worth what you pay for it, NOTHING) Wink
CalamityJane
 
  1  
Reply Mon 2 Mar, 2009 12:01 pm
I thought 6900 was the bottom line, and rather was joking about it - not realizing that it became bitter reality. Like Latin-George once said: "My retirement plan is dying at the desk!" - I will join him! Shocked
cicerone imposter
 
  1  
Reply Mon 2 Mar, 2009 12:11 pm
@rosborne979,
Thanks for the "nothing" advise. LOL
0 Replies
 
cicerone imposter
 
  1  
Reply Mon 2 Mar, 2009 12:12 pm
@CalamityJane,
With the trend in our economy; more job losses and business bankruptcies, we're still headed downwards. The 64-thousand dollar question is what will be the "near bottom" of this market?
ebrown p
 
  1  
Reply Mon 2 Mar, 2009 12:17 pm
@cicerone imposter,
Quote:
The 64-thousand dollar question is what will be the "near bottom" of this market?


Isn't that more like the 64 hundred dollar question?
cicerone imposter
 
  1  
Reply Mon 2 Mar, 2009 12:21 pm
@ebrown p,
It might become the .64c question.
cicerone imposter
 
  1  
Reply Mon 2 Mar, 2009 12:28 pm
@cicerone imposter,
Headline from a web article today:
Quote:
Dow industrials fall below 7,000; lowest since '97


I retired in 1998; must have thought we had enough savings to last us comfortably for the remainder of our lives.
cicerone imposter
 
  1  
Reply Mon 2 Mar, 2009 12:49 pm
@cicerone imposter,
Many are still "selling" out at one of the lowest markets; people never learn the simple rule about buying low and selling high.
Cycloptichorn
 
  1  
Reply Mon 2 Mar, 2009 12:54 pm
@cicerone imposter,
cicerone imposter wrote:

Many are still "selling" out at one of the lowest markets; people never learn the simple rule about buying low and selling high.


Well, they are afraid of losing the last 20% they have in many of these companies...

Still, I agree. There are price points for several stocks I'm watching right now that look very tasty.

Cycloptichorn
0 Replies
 
genoves
 
  0  
Reply Mon 2 Mar, 2009 12:54 pm
@cicerone imposter,
Thzat's what you left wing morons got for voting for a Socialist. Most of you are hard heads and do not understand that Obama is dejavu---FDR. Read about FDR and the depression that did not recover until World War II>

Maybe Obama can save us when Iran attacks Israel and we HAVE to go to the aid of Israel. I am sure that the ingenous Obama can find a rationale.

Prediction--Dow Jones BELOWa 6,000 BY THE END OF MARCH.

Then the left wing can stick their fingers in their mouths and break up their furniture for heat if it is still cold in their areas.

What a bunch of loonies!!! You voted for an unknown quantity( we in Illinois know that he is a fraud ) and now you will reap the results. Just wait until the 401K reports come out after the first quarter.

Some( even the left) will say--WE DIDN'T KNOW THAT CHANGE MEANT OUR LIFE SAVINGS WOULD BE PRACTICALLY WIPED OUT!!

And Obama, so eager to pass his legislation bad mouthed the economy for months. Way to go-Barack-way to go!
0 Replies
 
genoves
 
  -1  
Reply Mon 2 Mar, 2009 12:58 pm
@cicerone imposter,
If you wait until the market hits 1,000, then begin to buy. But that will take a long time as it did in the 1930's. There will be no quick recovery UNLESS Obama is kicked out of where he never belonged in the first place and some conservative President can begin to fix the economy by giving the true catalysts of the economy room to make investments and start businesses. The Socialist Obama will never do that!
cicerone imposter
 
  1  
Reply Mon 2 Mar, 2009 01:20 pm
@genoves,
Another useless post by genoves the idiot.
cicerone imposter
 
  1  
Reply Mon 2 Mar, 2009 01:39 pm
@cicerone imposter,
Just a thought with about 1.5 hours of trading left today. Maybe with AIG writing off 61 billion of their bad assets, maybe the stock market will bounce into positive territory today. Crazier things have happened. LOL
0 Replies
 
Woiyo9
 
  1  
Reply Mon 2 Mar, 2009 01:52 pm
@Cycloptichorn,
24 Trillion?

Would that not be 240 million mortgages at 1M per?

Is it getting to the point that either we have the dumbest MF'ers on the planet running Banks or something else is really going on and mortgages are the excuse?
0 Replies
 
genoves
 
  0  
Reply Mon 2 Mar, 2009 01:54 pm
Reply report Mon 2 Mar, 2009 12:54 pm Re: cicerone imposter (Post 3587938)
Thzat's what you left wing morons got for voting for a Socialist. Most of you are hard heads and do not understand that Obama is dejavu---FDR. Read about FDR and the depression that did not recover until World War II>

Maybe Obama can save us when Iran attacks Israel and we HAVE to go to the aid of Israel. I am sure that the ingenous Obama can find a rationale.

Prediction--Dow Jones BELOWa 6,000 BY THE END OF MARCH.

Then the left wing can stick their fingers in their mouths and break up their furniture for heat if it is still cold in their areas.

What a bunch of loonies!!! You voted for an unknown quantity( we in Illinois know that he is a fraud ) and now you will reap the results. Just wait until the 401K reports come out after the first quarter.

Some( even the left) will say--WE DIDN'T KNOW THAT CHANGE MEANT OUR LIFE SAVINGS WOULD BE PRACTICALLY WIPED OUT!!

And Obama, so eager to pass his legislation bad mouthed the economy for months. Way to go-Barack-way to go!
 

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