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How Low Can It Go?

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Old 03-03-2009, 11:23 PM   #61
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Re: How Low Can It Go?

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Originally Posted by Angry View Post
I sold last September and I claimed my losses on my taxes. I am looking to buy back in within the next couple of months. By my estimation despite my losses I am about to make some considerable gains in the future. Is that wrong...Schneed?
That's what I'm doing. I'd caution that you shouldn't go heavy on stocks if you need the money within the next 10 years. Otherwise, it's a great time to go for it.
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Old 03-03-2009, 11:29 PM   #62
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Re: How Low Can It Go?

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Originally Posted by Slingin Sammy 33 View Post
The POTUS has very little control by himself. A Democratic POTUS with a Democratic Congress has a great deal of control. In this particular situation where the housing market has tanked due to bad loan policies, it will take some gov't intervention to fix the situation and remove the bad loans from the system. Hopefully this will restore banks confidence in each other and people's confidence in the banks. Credit should begin to flow and people will spend again.

However in the face of this economic crisis a tax increase targeted at those who drive the economy, a capital gains increase, restoration of a 45% death tax and energy/pollution taxes (which will be paid by every American who has electric service or puts gas in his/her car), coupled with huge spending increases has a great deal to do with the current drop in the markets. Will they rebound, at some point of course. We came out of the depression and the 70s, but as FRPLG mentioned, we will most likely wind up with another lost decade if Obama's administration doesn't do an about face on their current policies/positions.

For the record I'm betting on a floor of 4800.
I wholeheartedly agree with the economic theories you're discussing here (and I've sung them from the mountaintops myself within these forums).

But I think a good deal of the expectations of poorer earnings were priced in around the time Obama was elected, and certainly were priced in by the time details of his stimulus bill were made available. I think the fundamentals support a bottom no lower than Dow 6000. Any decline below that point will be as irrational as the exuberance noted as same by Alan Greenspan in the late 90s.
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Old 03-04-2009, 12:07 AM   #63
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Re: How Low Can It Go?

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Much like you a few around here view me as the asshole guy, but the truth is I'd like to think of myself in a more positive light...Defender of Reason. I like the sound of that, what do you think?
You'd need longer hair and thicker armor to fit the stereotype I have in my head of you now.
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Old 03-04-2009, 12:43 AM   #64
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Re: How Low Can It Go?

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You'd need longer hair and thicker armor to fit the stereotype I have in my head of you now.
Sorry dog, I don't Live Action DnD.




Apologies to 70Chip for hijacking his thread.
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Old 03-04-2009, 07:49 AM   #65
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Re: How Low Can It Go?

Quote:
Originally Posted by Schneed10 View Post
I wholeheartedly agree with the economic theories you're discussing here (and I've sung them from the mountaintops myself within these forums).

But I think a good deal of the expectations of poorer earnings were priced in around the time Obama was elected, and certainly were priced in by the time details of his stimulus bill were made available. I think the fundamentals support a bottom no lower than Dow 6000. Any decline below that point will be as irrational as the exuberance noted as same by Alan Greenspan in the late 90s.
Agree. I've just got a little less faith than you do in folks being rational.
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Old 03-04-2009, 07:51 AM   #66
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Re: How Low Can It Go?

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Originally Posted by saden1 View Post
Sorry dog, I don't Live Action DnD.
Next time you start killing us with the YouTube clips, you'll get...Fireball, fireball......
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Old 03-04-2009, 08:14 AM   #67
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Re: How Low Can It Go?

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Originally Posted by 70Chip View Post
Okay. So far a lively debate but very few specific predictions. Those with balls are:

jsarno: 6000
djnemo65 5500
redskinjim: 5000
Saden1: 5000 (not out of the question)
FRPLG 4900
Slingin Sammy 33 4800
Buster: 3500
70Chip: 3499
CRedskinsRule: 0
That Guy: Less than 0 (possibly)

Of course the winner gets to inherit my Tom Tupa avatar.
I want in on that Tupa action.

No lower than 6k
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Old 03-04-2009, 09:29 AM   #68
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Re: How Low Can It Go?

Quote:
Originally Posted by Angry View Post
I sold last September and I claimed my losses on my taxes. I am looking to buy back in within the next couple of months. By my estimation despite my losses I am about to make some considerable gains in the future. Is that wrong...Schneed?
Angry, I'm no tax guy but if you right off your losses one year I think it has tax issues when you buy back in . I could be totaly wrong but I believe there are tax rules that prevent people from selling at a loss, writing them off then turning around and buying back in at lower prices. You might want to check that out.
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Old 03-04-2009, 09:32 AM   #69
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Re: How Low Can It Go?

I love these threads. It always seem that we all want the same thing but we have completly different views on how to get there.
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Old 03-04-2009, 09:47 AM   #70
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Re: How Low Can It Go?

5,800
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Old 03-04-2009, 03:44 PM   #71
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Re: How Low Can It Go?

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Originally Posted by 4mrusmc View Post
djnemo65, I may not be as profound as some of our esteemed members of this fine community. But, when the largest global domino (the U.S.) has a it's economy in the toliet. All of the other little dominoes fall suit.

When our president, and his supporters are openly hostile to people of higher means, what would you expect the economy to do?

The vast majority of the people who pulled the lever for the big O, stepped out of that same voting booth with their hand-out looking for a pay-out. Where as the vast majority of the people who voted for the other guy, simply tried to stem the tide. Most of the same people who chant "yes we can", look for government as a solution to their problems. It's not their fault, they just don't know any better. Do you really think that those "yes we can" people will want to roll up their sleeves, and create, innovate, and put forth anything that will have an impact on our current economic crisis? Really, do you?

I think that this government really needs to be aware of who really drives this economic machine, and stop fing with it, and being hostile to it.

Somewhere there is a community missing it's organizer. Interestingly ironic, yes it is.
sorry, but this is ignorance at its best
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Old 03-04-2009, 03:46 PM   #72
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Re: How Low Can It Go?

For reference:



Our Troubled Economy Is a Response to Barack Obama's Policies - WSJ.com
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Old 03-04-2009, 04:13 PM   #73
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Re: How Low Can It Go?

Here's some more food for thought:

Obama’s Top Five Broken Promises FOX Forum FOXNews.com

Some Quick Charts on the 2010 Budget | Americans for Prosperity
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Old 03-04-2009, 04:24 PM   #74
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Re: How Low Can It Go?

Now I hear that Obama is looking into removing the ban on gay's in the military. I hope he spends all his time for the next year working on only that issue.
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Old 03-04-2009, 05:27 PM   #75
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Re: How Low Can It Go?

I've said numerous times around here that I don't get into political debate on the Warpath, however I don't hide the fact that I'm conservative.

This is a solid little write up on our new Tax & Spend Commander In Cheif:

Obama Declares War on Investors, Entrepreneurs, Businesses, And More - Money and Politics Blog - CNBC.com

Edit: I'll throw my hat in- since several people are picking 5000, I'll go 5100 for sh*ts and giggles.
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Last edited by GMScud; 03-04-2009 at 05:34 PM.
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