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Dow Death Watch

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Old 10-10-2008, 11:59 AM   #1
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Dow Death Watch

It plunged below 10,000 and then 9,000 earlier this week. How low will she go?
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Old 10-10-2008, 11:59 AM   #2
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Re: Dow Death Watch

It was below 8k this morning for a while.
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Old 10-10-2008, 12:53 PM   #3
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Re: Dow Death Watch

I think we're going to touch 7K before it's all said and done.
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Old 10-10-2008, 12:58 PM   #4
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Re: Dow Death Watch

I don't care where it bottoms out as much as I care when it bottoms out. The sooner the market can rebound, the better off we will all be.
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Old 10-10-2008, 01:00 PM   #5
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Re: Dow Death Watch

Let's see. The height not too long ago was a shade over 14,000. I'm gonna guess somewhere between 6500 and 7000 before it starts to pull back up. The market will correct itself...it's just a matter of time when.
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Old 10-10-2008, 01:35 PM   #6
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Re: Dow Death Watch

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?
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Old 10-10-2008, 02:04 PM   #7
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Re: Dow Death Watch

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Originally Posted by Beemnseven View Post
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?
Now is the worse time to think about selling unless you have such a poor portfolio of investments they will never recover then it might not be a bad idea.

I'm actual about to buy $15,000 in stocks today in Co's. that are strong but are getting dragged down by this mess. I'm guessing I might double my money in just a few months and wish I had more money to invest.
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Old 10-10-2008, 02:24 PM   #8
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Re: Dow Death Watch

I agree with Beemnseven, now is not the time to start selling. If someone absolutely has to sell, I would "suggest" selling in increments with a time certain attached. For instance, I'm going to sell 10,000 of stock ABC. I would sell a specific amount over the course of five days or six days. That way if the market is starts to move higher on any one of those of six days, you're not locking in the same loss across the board.
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Old 10-10-2008, 03:09 PM   #9
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Re: Dow Death Watch

Between the AIG stock I own and my 401k, I could honestly cry over the money I've lost recently. It's a serious kick to the groin. But, I'm certainly not going to panic and yank my money or switch it to less riskier investments. I figure I still have a good 20-25 years for it to grow. This is just a serious downtime in the cycle. My Dad on the other hand who recently just retired is sweating things a bit more.
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Old 10-10-2008, 03:12 PM   #10
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Re: Dow Death Watch

Bargains can be had everywhere GE, MSFT, ORCL, BAC, oh my. I love it! I wish I had more money. Anyone selling their stock is a fool. If you buy established companies with good track record and are in it long term, you buy more...the more the stock falls the more you buy. If you're "timing the market" or "trying to make a quick buck" good luck, you'll need it.

I predict the lowest it will go is low to mid 7K. Anything below that is sustained for a month or two then I would worry.
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Old 10-10-2008, 03:30 PM   #11
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Re: Dow Death Watch

Quote:
Originally Posted by Beemnseven View Post
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.
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Old 10-10-2008, 03:31 PM   #12
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Re: Dow Death Watch

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.
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Old 10-10-2008, 03:40 PM   #13
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Re: Dow Death Watch

Anyone interested in learning a bit about the current crisis should click on this and click "free download."
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Old 10-10-2008, 11:13 PM   #14
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Re: Dow Death Watch

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.
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Old 10-11-2008, 10:44 AM   #15
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Re: Dow Death Watch

Quote:
Originally Posted by Slingin Sammy 33 View Post
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?
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