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Old 10-13-2008, 03:04 PM   #61
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Originally Posted by johndoe View Post
can anyone recommend a book to read that explains market terms and wise investment practices because most of what you're saying is greek to me.
read the free portion of fool.com for some starter material.
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Old 10-13-2008, 03:20 PM   #62
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Code:
DJIA		8981.49	+530.30	+6.27%
NASDAQ		1759.94	+110.43	+6.69%
S&P 500		956.69	+57.47	+6.39%
...now what?!
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Old 10-13-2008, 05:26 PM   #63
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Quote:
Originally Posted by Braineack View Post
...now what?!
Well, how about:
Code:
Monday Oct 13, 2008, close:
Dow      9,387.61    +936.42    +11.08%
Nasdaq   1,844.25    +194.74    +11.81%
S&P 500  1,003.35    +104.13    +11.58%
So, a show of hands: Who liquidated on Friday? Personally, I'm glad I procrastinated and didn't quite get around to entering those sell orders I'd been contemplating.
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Old 10-13-2008, 05:37 PM   #64
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Quote:
Originally Posted by Joe Perez View Post
Well, how about:
Code:
Monday Oct 13, 2008, close:
Dow      9,387.61    +936.42    +11.08%
Nasdaq   1,844.25    +194.74    +11.81%
S&P 500  1,003.35    +104.13    +11.58%
So, a show of hands: Who liquidated on Friday? Personally, I'm glad I procrastinated and didn't quite get around to entering those sell orders I'd been contemplating.




I bought . AAPL looked too good to resist.

My WAG is that tomorrow it might swing back down a bit, if it does I'll buy some more.
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Old 10-13-2008, 06:53 PM   #65
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Guess the sky isn't falling as fast as some people said.
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Old 10-13-2008, 08:02 PM   #66
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This rally is good for people who want to get out.
The medium term trend is still down.
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Old 10-13-2008, 08:18 PM   #67
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Notice today was a holiday and noone fucked with any bailout nonsense and kept their hands off the market and it rebounded. I may be very wrong here but my WAG is tomorrow it will lose some of what it regained today.
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Old 10-13-2008, 08:22 PM   #68
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Yup. Maybe things will stabilize, maybe this was just a tease and and we're headed for prolonged slump. Any move could be a losing move, including doing nothing at all.

I'm extending and sweetening my offer- US$50k (or the equivalent in Euros, Turkish Lira, latinum,... your choice) to the person who gives me an accurate summary of exactly what the market is going to do over the next 12 months.
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Old 10-13-2008, 08:24 PM   #69
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Can I take the cash up front?
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Old 10-13-2008, 08:49 PM   #70
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Originally Posted by BenR View Post
Can I take the cash up front?
Of course. You need only to leave with me either a Pagani Zonda F or a Koenigsegg CCXR as collateral. If your abilities as a prognosticator are as good as you claim, then you should have several of each lying around.
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Old 10-13-2008, 09:28 PM   #71
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The people that already know the answer to that question wont give a damn about your $50k
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Old 10-13-2008, 11:00 PM   #72
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Quote:
Originally Posted by Joe Perez View Post
Well, how about:
Code:
Monday Oct 13, 2008, close:
Dow      9,387.61    +936.42    +11.08%
Nasdaq   1,844.25    +194.74    +11.81%
S&P 500  1,003.35    +104.13    +11.58%
So, a show of hands: Who liquidated on Friday? Personally, I'm glad I procrastinated and didn't quite get around to entering those sell orders I'd been contemplating.
I purchased TD Bank on Thursday just before the bell on the TSX and sold it today on the NYSE as it is a dual listed stock Made some quick money in 2 business days. I love the volatility of these markets for making a quick buck!
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Old 10-14-2008, 03:18 AM   #73
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Quote:
Originally Posted by Joe Perez View Post
I'm extending and sweetening my offer- US$50k (or the equivalent in Euros, Turkish Lira, latinum,... your choice) to the person who gives me an accurate summary of exactly what the market is going to do over the next 12 months.
(Digs up plans for old DeLorean time machine) "The reward may just be worth the trouble."

I say it slumps out for now till mid next year before going back up, lending confidence to the masses and investors.
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Old 10-14-2008, 11:31 AM   #74
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Quote:
Originally Posted by Joe Perez View Post
If your abilities as a prognosticator are as good as you claim, then you should have several of each lying around.

I never claimed that I was any good, just that I have the ability to take 50K and dissapear with it.
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Old 10-14-2008, 12:57 PM   #75
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Well I stayed in and at least for now I am glad I did. There will be another drop probably around Christmas due to the likely reports of poor retail performance. But then again that may already be priced in, unless they are worse than expected. There could also be some profit taking over the next few days too.

All being said, I am still long-term Bullish and am staying in. As said before, market timing is really, really difficult, and damn near impossible for the average schmo. "Damn it Jim, I am an Engineer, not a Financial Analyst!"

I'll trust Buffett over North anyday. +1 on reading the fool.com beginner's info. Also get this book:
http://www.amazon.com/Personal-Finan...3999997&sr=8-1

Y2K, biggest non-event in recent history. After Y2K, cheap generators and cheap water tanks were everywhere. And now there is lots of cheap stock and cheap houses to be found.
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Old 10-14-2008, 02:31 PM   #76
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All being said, I am still long-term Bullish and am staying in.
It seems you unaware of the massive corruption that grew and led to this crash:

http://www.financialsense.com/Experts/2008/Burrell.html

You'd better listen to Bud Burrell above before you decide to be long term bullish.
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Old 10-14-2008, 03:47 PM   #77
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Originally Posted by JasonC SBB View Post
You'd better listen to Bud Burrell above before you decide to be long term bullish.
Man, Jason, you really need to pick better sources to support your arguments. The same Bud Burrell who is known as a penny-stock operator and was himself involved in spreading rumors related to shorting activity and on the payroll of companies who are under indictment? See link: http://garyweiss.blogspot.com/2007/1...questions.html

Oh and his financial blog web traffic info http://www.alexa.com/data/details/tr...tycheck.com?q= Barely any. Hmmm......
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Old 10-14-2008, 05:17 PM   #78
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brg, Burrell is just one of the many who warn of the endemic corruption and weak fundamentals. It's just that this one interview with him covers a lot of the corruption:

- Community reinvestment act and ACORN which led to the rise of subprime mortgages
- Repeal of Glass-Steagal Act
- SOX
- "Mark to market" accounting
- lifting leverage ratio limits
- lifting of uptick rule

Here's another article explaining the derivatives bubble:
http://www.webofdebt.com/articles/it...erivatives.php
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Old 10-14-2008, 05:37 PM   #79
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Well, what an amazingly interesting day this was. The market rallied strongly at the outset, with the Dow gaining over 400 in the first few minutes of trading before giving it all back and retreating to neutral ground. Despite afternoon turmoil which set the day's swing at just over 700, in the end yesterday's gains remained largely intact as the Dow closed down a mere 76.6 points.

As a point of sheer amusement, I'd like to quote myself from Sunday:
Quote:
At Tuesday's opening bell, the market rallies briefly before turning into another nosedive.
Well, I was close.

In all seriousness, there are a couple of things that everyone seems to be thinking but nobody seems to be saying.

1- Jason, does it bother you at all that most of the financial writers you are linking to seem to fall broadly into the "I have a tinfoil hat" category insofar as public perception is concerned? I'm trying to be constructive here: it doesn't matter if these guys correctly predicted the second coming of Jesus Christ if the audience is not receptive to them. Perhaps in the future you could present information in a way that does not immediately cause the recipient to wrote off the author as a nutjob? People who advocate a return to the gold standard, for example, are not likely to be taken seriously. It's just not gonna happen.

2- By contrast: (to everyone else) Yes, there are a lot of wack-jobs out there, and no doubt a lot of what they say is either groundless, misleading, paranoid, or outright false. In this way, they are very much like the rest of the mainstream media. Who will find the small nuggets of truth in their arguments?
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Old 10-14-2008, 07:31 PM   #80
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Quote:
Originally Posted by Joe Perez View Post
In this way, they are very much like the rest of the mainstream media. Who will find the small nuggets of truth in their arguments?


I think SOME of the media, particularly mainstream, is in a small part responsible for the volatility and the panic. With all of the competition with other news outlets, sensationalism is what is used more often than not to get people's attention. Form one day to the next, even on CNNFN, the headlines vary from implications of "We are all headed to the poorhouse" to "We are all going to get filthy rich" depending on if the market goes up or down that day.

Por ejemplo... The other night I was channel surfing and saw Glenn Beck on CNN (mainstream media) go off on this nonsensical tirade of why the market is behaving the way it is. IMO his editorial was really pretty silly, and was clearly meant to provoke an emotional response in the viewer. I listened to the end of what he had to say out of curiosity but changed the channel soon after.

For the record I am not blaming the media. Ultimately we are all responsible for filtering out the crap from the cream.
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