Slingin Sammy 33
10-10-2008, 02:30 PM
Is anybody considering selling off any stock that they own? Have you thought about cashing out your 401k?
That thought actually crossed my mind this morning -- what if you had cashed out last Friday before this week's tumble?
It's funny you mention it. I did just that (though not because of any great foresight). I'm in the process of buying a small business and needed to cash out my stock portfolio to move into a CD to guarantee the loan. Based on the percentage drops, I saved over $ 30K. (Thank God).
Of course my 401(K) is down a great deal along with everyone else.
mheisig
10-10-2008, 02:31 PM
I call 7k.
Why? No reason. Just seems like it might hit that low, that's all.
Like others said, now is the time to buy. You buy when prices go down, not when they go up. Any other approach and you're playing a market timing game, which any sane investor will tell you is about as productive as magic beans.
Sheriff Gonna Getcha
10-10-2008, 02:40 PM
Anyone interested in learning a bit about the current crisis should click on this (http://www.thislife.org/Radio_Episode.aspx?episode=365) and click "free download."
That Guy
10-10-2008, 10:13 PM
this american life is an amazing show/program/whatever.
once this thing is tanked out, i'm buying in hard. citigroup is cheap, tech stocks (MS/google/intel/etc), global resources (palladium/platinum/gold/etc). just waiting to see the bottom first. I know i'm not the only one either.
Beemnseven
10-11-2008, 09:44 AM
It's funny you mention it. I did just that (though not because of any great foresight). I'm in the process of buying a small business and needed to cash out my stock portfolio to move into a CD to guarantee the loan. Based on the percentage drops, I saved over $ 30K. (Thank God).
Of course my 401(K) is down a great deal along with everyone else.
Just curious, what small business are you getting into?
Back from the dead
CNNMoney.com Market Report - Oct. 13, 2008 (http://money.cnn.com/2008/10/13/markets/markets_newyork/?postversion=2008101314)
Sheriff Gonna Getcha
10-13-2008, 05:14 PM
Huge bump today. We're still off the high by about 5,000 points, but it's a nice start.
That Guy
10-13-2008, 10:12 PM
there might be a lower total global de facto credit cap after this thing (more conservative use of lending money and thus less total lent value).
that said, this could just be a bear market run up with profit takers tomorrow... we'll have to see.
Sheriff Gonna Getcha
10-15-2008, 04:58 PM
Dow down (http://money.cnn.com/2008/10/15/markets/markets_newyork/index.htm?postversion=2008101510) 733 to 8,500.
saden1
10-15-2008, 05:09 PM
Of course, it's gains skimming time. It's going to be up and down, up and down for a while.