Re: How Low Can It Go?
 

[quote=70Chip;535734]So do you and everyone else take profits tomorrow and send it way back down?[/quote]

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 ;)

Re: How Low Can It Go?
 

[quote=70Chip;535649]Big rally in Wall Street today. The Dow is back above 6900. The updated numbers are in Post #1.[/quote]

That can't be! :nono: 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! :spank:

Re: How Low Can It Go?
 

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

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Re: How Low Can It Go?
 

[quote=saden1;535926]God damn it, why the hell isn't short selling illegal?

[/quote]

Because over the long haul it has no impact.

Re: How Low Can It Go?
 

[quote=Schneed10;535930]Because over the long haul it has no impact.[/quote]

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.

Re: How Low Can It Go?
 

[quote=saden1;535982]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. [B]This not a good enough reason not to do anything[/B].[/quote]

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).

Re: How Low Can It Go?
 

[quote=Schneed10;535988]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).[/quote]

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.

Re: How Low Can It Go?
 

I'd also point out that gaming companies in their time of need for cash can in fact put them out of business. We "have" the [URL="http://en.wikipedia.org/wiki/Uptick_rule"]Uptick rule[/URL] for that reason, unfortunately it isn't good enough.

Re: How Low Can It Go?
 

short selling and buying on margins aren't generally the best of things, but corrupt hedge fund management (like kramer disucsses, which is the norm) and the financial industry and congress/lobbyists/etc all pushing each other for less regulation are bigger issues.

and a unjustified negative perception CAN kill a good (smaller) business without a huge cash reserve.

Re: How Low Can It Go?
 

[quote=Miller101;535913]That can't be! :nono: 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! :spank:[/quote]

Anyone trying to parlay a single day on Wall Street into a political argument is playing a fool's game. That's why this thread has been largely civil. No one knows what the hell is going to happen next, so everyone is loathe to take credit for an upswing because they don't want to have to own tomorrow's downswing.

Re: How Low Can It Go?
 

Housing starts take surprising jump in Feb.
Wall Street closes strong; Dow up 179 points
hopefully the beginning of good things to come

Re: How Low Can It Go?
 

sorry, something up with the links

Re: How Low Can It Go?
 

The Dow had had a good 6 days. Perhaps we have seen the bottom. If so, congratulations to Matty, Jsarno, and Schneed for being the closest. However, I think we will wait a while longer to make sure.

Re: How Low Can It Go?
 

[quote=70Chip;537717]The Dow had had a good 6 days. Perhaps we have seen the bottom. If so, congratulations to Matty, Jsarno, and Schneed for being the closest. However, I think we will wait a while longer to make sure.[/quote]

On a bottom you should actually wait a year or so to see if it's a real bottom or not.

Re: How Low Can It Go?
 

It's b.s. rally, big boys playing big games. Nothing has changed really.