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How Low Can It Go?

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Old 03-07-2009, 09:13 AM   #121
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Re: How Low Can It Go?

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{Ahem} Best post/link in this thread! I really wonder how many people in the country truly realize that the blame is widespread amongst individuals, groups, organizations and companies? My guess is less than 1%. Home team mentality is a blight on the advancement of civilization. Sports entertainment excluded, of course.
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Old 03-09-2009, 12:57 PM   #122
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Re: How Low Can It Go?

Let me preface this by saying I don't smoke.
I walked into Royal Farms for my morning coffee, and one guy was thinking about getting cigarettes but decided not to get them. Turns out that the new 70 cent federal tax was being charged to help fund SCHIP, the state children health insurance program.
I guess I bring it up to say, I am willing to bet that cigarette consumption goes down, thus tax revenue will not meet projections, and what politician is going to
a) reduce the cigarette tax
b) reduce SCHIP
The answer is none, at least none that want to be re-elected and not demonized, so it will stay and need federal funding not accounted for in Stimulus program and keep a depressed economy even moreso.
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Old 03-09-2009, 11:35 PM   #123
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Re: How Low Can It Go?

maybe he should just stick to fixing all of W's screw ups. lord knows that would take at least one term
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Old 03-10-2009, 12:44 AM   #124
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Re: How Low Can It Go?

If it's not too late to get in on this, I'll take 4740, 1/3 of what it was in 2007.
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Old 03-10-2009, 04:03 PM   #125
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Re: How Low Can It Go?

Big rally in Wall Street today. The Dow is back above 6900. The updated numbers are in Post #1.
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Old 03-10-2009, 04:26 PM   #126
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Re: How Low Can It Go?

Yeah, Citi said they're posting profits so far this year.

In the markets, perception becomes reality. There's so much doom and gloom out there that it's causing people to contract spending and sell equities at a rate faster than the fundamentals would suggest. In reality, things are bad, but not that bad.

The markets will have more down days in the weeks and months to come as people continue to fret. But eventually some positive economic data will come in, like the Q1 earnings for the Fortune 500 companies, GDP, inflation, jobs, etc. When that data starts coming in positive the psychological rebound will be huge. When you go from so much doom and gloom to actually seeing some positive indicators show up in black & white reports, the tendency is to get exhuberant. This market will bounce back really hard when that happens.
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Old 03-10-2009, 06:38 PM   #127
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Re: How Low Can It Go?

i think this is probably just a blip up and not a sign of things to come.

it'll recover eventually... I did get a 12% one day return though (thanks gamestop and best buy).
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Old 03-10-2009, 08:07 PM   #128
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Re: How Low Can It Go?

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i think this is probably just a blip up and not a sign of things to come.

it'll recover eventually... I did get a 12% one day return though (thanks gamestop and best buy).
So do you and everyone else take profits tomorrow and send it way back down?
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Old 03-10-2009, 08:23 PM   #129
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Re: How Low Can It Go?

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So do you and everyone else take profits tomorrow and send it way back down?
it'd be the safer move, maybe go back into bear market stocks (short sales), but i'll let it ride, since i only have this year's roth contribution in that account... if it were a million i'd probably treat it differently, since that'd be over a year's living expenses in one day
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Old 03-11-2009, 10:04 AM   #130
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Re: How Low Can It Go?

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Big rally in Wall Street today. The Dow is back above 6900. The updated numbers are in Post #1.
That can't be! Obama's spending bill was being voted on by the senate when the rally happened. There is no way that the market could have gone up! Click on a link from Fox News if you don't believe me!
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Old 03-11-2009, 10:49 AM   #131
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Re: How Low Can It Go?

God damn it, why the hell isn't short selling illegal?

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Old 03-11-2009, 10:58 AM   #132
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Re: How Low Can It Go?

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God damn it, why the hell isn't short selling illegal?
Because over the long haul it has no impact.
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Old 03-11-2009, 12:31 PM   #133
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Re: How Low Can It Go?

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Because over the long haul it has no impact.
This is true, it is also true that you can use that line for anything and everything whose short term impact you want to marginalize. This not a good enough reason not to do anything.
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Old 03-11-2009, 12:38 PM   #134
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Re: How Low Can It Go?

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This is true, it is also true that you can use that line for anything and everything whose short term impact you want to marginalize. This not a good enough reason not to do anything.
I'd vehemently disagree. You shouldn't be investing in the stock market for the short term at all. If you are, you might as well head to Vegas.

If you're investing in the stock market wisely then you're doing it with money you don't need for a long time, and you're letting it sit for a long time.

If you're not doing the above, then you're somewhat retarded (daytraders excluded, because they understand short-term risks and are willing to accept the consequences).
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Old 03-11-2009, 12:43 PM   #135
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Re: How Low Can It Go?

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I'd vehemently disagree. You shouldn't be investing in the stock market for the short term at all. If you are, you might as well head to Vegas.

If you're investing in the stock market wisely then you're doing it with money you don't need for a long time, and you're letting it sit for a long time.

If you're not doing the above, then you're somewhat retarded (daytraders excluded, because they understand short-term risks and are willing to accept the consequences).
It's not about me (the average Joe), it's about people (hedge fund managers) purposefully betting against a company, playing shell games, knocking the company down and then cashing it in. They are in fact gaming the system.
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