oldfogey> funny how india & taiwan has been up for the past weeks without particular reason while the rest of asia drops... and today only india & taiwan open, what a coincident.
tonite is the nite (asian time) for republican to save Mccain!
Shades of 1992 when Alan Greenspan told Bush 1 that if he didn't raise taxes to cut the deficit, interest rates would have to be raised to 12% to keep the foreign investors from deserting US securities.
Bush's tax increase was in the 1990 budget and to my knowledge had more to do with the slowing economy and balooning deficit. Greenspan was nothing like Volker and would never have raised rates that high. What we had going on back then was nothing compared to today. Today the new fed chairman is similar to Greenspan in that he'll just try to print [money] his way out of this, which will debase the currency.
I too bought gold/silver the past few weeks. Notice that the spot prices are being manipulated as the supply, especially for silver, is very tight. Global demand for precious metals is astounding and the spot prices have not reflected that.
"Greenspan was nothing like Volker and would never have raised rates that high. What we had going on back then was nothing compared to today. Today the new fed chairman is similar to Greenspan in that he'll just try to print [money] his way out of this, which will debase the currency. "
Greenspan believes (and always has) that inflation is the number one problem to be dealt with. He never printed money to get out of anything.
I'll pass on a revolution....and we go back to buying a nice gun and heading to the mtns.
Coincidentally, I just rented a cabin/house for the weekend in the middle of nowhere up in the mtns. Gorgeous aspens up there, saw 20 or so shooting stars. Just lovely.
I think I could handle that. Plus, they've got satellite internet, for better or worse.
the Lehman credit default swaps are revealed tomorrow. i predict a 10% drop. that "my friends" will be the bottom.
let's put this in perspective though; the market today hit is at it's low since 2003, and that is 2 years after 9/11. so, i think the trend after november will be upward, and not because of obama.
Believe, believe in me, believe
Believe that life can change
That you're not stuck in vain
Were not the same, were different tonight
Tonight, so bright
Tonight
And you know you're never sure
But you're sure you could be right
If you held yourself up to the light
And the embers never fade in your city by the lake
The place where you were born
Believe, believe in me, believe
Believe in the resolute urgency of now
And if you believe there's not a chance tonight
Tonight, so bright
Tonight
We'll crucify the insincere tonight
We'll make things right, well feel it all tonight
We'll find a way to offer up the night tonight
The indescribable moments of your life tonight
The impossible is possible tonight
Believe in me as I believe in you, tonight
they can't go much lower, but can they go much higher? that's the real question
and i don't necessarily know that the gov't bailing them out is a done deal, and even IF they get a bailout I believe it's only going to keep them afloat for a matter of months
I would stay away from GM and Ford, there is no sound reason to buy them. The gov't won't let them fail, but that has nothing to do with share value.
There are plenty of companies out there that actually do something, make money, etc., and are extremely cheap.
A guy on CNBC said he thought the market would go to 10000-11000, and then down to 3200.
trace is quite right, government concern about the worker not GM...
that's why i only call for the index.
keep watching oil and gold, oil $50 & gold $700 is the cost of production... when the whole world cut rate and bank will be overflood with money, hot money will start to flow next year and the commodity bubble will start again.
if you're taking your financial advise from some douche bag on cnbc, good luck. the stock market has leveled, fluctuating around 8500 for about a month now. i think it's bottomed out, and i've been putting as much as i can into the market lately. it's possible that it could take another dive, but i feel pretty confident buying at 8500. for all the gloom and doom in the news, i think the economy is starting to show signs of recovery. housing prices are as low as they are going to go, and lending is loosening up. i think we'll see layoffs for at least another six months, but that's residual from the financial market turmoil of the last six months. what's the old warren buffet saying? "buy when people are afraid. be afraid when people buy."
I think we are hovering above the low too, but not confident that we are in the clear. This straight up run for the last week doesn't inspire me.
I've been nibbling as well, but with much uncertainty I'll hold off on going to crazy. I think people have been scared about the economy, but not the market. All I've seen is 'buy, buy, buy', pretty much all the way down.
What signs are you seeing that the economy is recovering? From a arch/dev/lending perspective, I've only been seeing more caution and indefinite holds.
I'd still be cautious; I know folks in the I-Banking sector and most of them say their asset management divisions are slaughtered - 60%, 70% losses for the year. Thats wealth thats been under management for in some cases 100 years. Thats the money companies use to expand plants, launch products, buy other companies. Theres a real crisis out there and this isnt just another bear market. Buy now sure but be prepared for wild swings for the next 5 years. Remember the crash of '29 was followed by a year long rally until crashing again through the floor as fear gripped businesses
Dow Jones Predictions?
anyone catch the screened off portico @ the white house tonight?
youtube
umm... tomorrow is going to be a very interesting day
-will the rest of the damage @ galveston be shown? heard several hundred may have drowned
-stock market opening.. will it drop below 10k?
and that's before we get to the political games...
oldfogey> funny how india & taiwan has been up for the past weeks without particular reason while the rest of asia drops... and today only india & taiwan open, what a coincident.
tonite is the nite (asian time) for republican to save Mccain!
may be cut interest rate as last time??
so my gold can shoot up!
ha... my wishful thinking.
Bush's tax increase was in the 1990 budget and to my knowledge had more to do with the slowing economy and balooning deficit. Greenspan was nothing like Volker and would never have raised rates that high. What we had going on back then was nothing compared to today. Today the new fed chairman is similar to Greenspan in that he'll just try to print [money] his way out of this, which will debase the currency.
I too bought gold/silver the past few weeks. Notice that the spot prices are being manipulated as the supply, especially for silver, is very tight. Global demand for precious metals is astounding and the spot prices have not reflected that.
actually i bought gold for mid term till dec. the rebound is less than i thought, may be wait till AIG...
ok, tomorrow will be bloodbath for asia... i think many will stay up tonite...
aquapura> from my understanding, the cost of mining gold/oz is about USD700, so if u buy at 750, will be quite safe...
correct me if i'm wrong, dun blame me if u loose money in gold, commodity future is very hard to play.
"Greenspan was nothing like Volker and would never have raised rates that high. What we had going on back then was nothing compared to today. Today the new fed chairman is similar to Greenspan in that he'll just try to print [money] his way out of this, which will debase the currency. "
Greenspan believes (and always has) that inflation is the number one problem to be dealt with. He never printed money to get out of anything.
i think US govn. cannot afford not to save AIG, the impact will be worldwide...
today, everyone in the city called their insurance agent, i did called also...
gold up 10% last nite.
black gold has dropped to about $95/barrel
bailout plans got approved.
but ted spread is at record high.
http://www.bloomberg.com/apps/quote?ticker=.TEDSP:IND
something very wrong here.
stocks will go down a bit more, then go up a bit, then down a bunch of points, then up a real lot, then down, then up.....rinse and repeat...
i hope theres a revolution.....
I'll pass on a revolution....and we go back to buying a nice gun and heading to the mtns.
Coincidentally, I just rented a cabin/house for the weekend in the middle of nowhere up in the mtns. Gorgeous aspens up there, saw 20 or so shooting stars. Just lovely.
I think I could handle that. Plus, they've got satellite internet, for better or worse.
dow 5xxpts. die hard!
Well things don't look like they're working out very well.
i hate to be right at every prediction i made here.
uptill the last one i made last friday.
OooWee, down 500 to 9447 today.
GREAT BUYING OPPORTUNITY!
(if your focus is long-term, with a balanced portfolio, this is the time)
It was a great buying opportunity up 2000 from here...there is no solution in site.
Guessing the election will determine a lot. M/P get it and it'll be time to pull.
I still hate not having an edit button
M/P will not win and are looking more desperate every day
Obama will save our country!
i agree it was a great buying opportunity last friday...
i bought put also for long term investment.
Dow 8,751.30 -506.80 (-5.47%)
we'll hit a bottom eventually ..
:'(
-679
you are correct, sir!
an even better buying opportunity (*cue laughter*)
buy now before it goes lower
dow @ 8,579.19 on 9th oct08, according to my first prediction at this thread in july, target reached.
however, i think i was too optimistic.
my architectural contributions to dow jones,
title- sucking black hole
Well played, aspect, well played.
where does it go from here, aspect?
or are you saying it will all collapse to a singularity (1 point)
the Lehman credit default swaps are revealed tomorrow. i predict a 10% drop. that "my friends" will be the bottom.
let's put this in perspective though; the market today hit is at it's low since 2003, and that is 2 years after 9/11. so, i think the trend after november will be upward, and not because of obama.
free ramos> i have no idea! that's part of the fun of blackhole ^^
dow jones +-1000pts last night!
short selling restarted and casino reopened. heha! wish i was here!
finally an up day yay!
Dow 9,387.61 +936.42 (+11.08%)
NASDAQ 1,844.25 +194.74 (+11.81%)
S&P 1,003.35 +104.13 (+11.58%)
should be down 1200 points tomorrow!!
the archinect vote count down is a great indicator of when dow jones will crash again! ha!
i have a feeling that monday is "the day"...
*have my calls ready on last friday*
Today, all day I had the feeling
A miracle would happen
I know now I was right
Tonight, tonight
The world is full of light
With suns and moons all over the place
Tonight, tonight
The world is wild and bright
Going mad
Shooting sparks into space
Believe, believe in me, believe
Believe that life can change
That you're not stuck in vain
Were not the same, were different tonight
Tonight, so bright
Tonight
And you know you're never sure
But you're sure you could be right
If you held yourself up to the light
And the embers never fade in your city by the lake
The place where you were born
Believe, believe in me, believe
Believe in the resolute urgency of now
And if you believe there's not a chance tonight
Tonight, so bright
Tonight
We'll crucify the insincere tonight
We'll make things right, well feel it all tonight
We'll find a way to offer up the night tonight
The indescribable moments of your life tonight
The impossible is possible tonight
Believe in me as I believe in you, tonight
i bet the Dow doesn't hit 14,000 again for another 5 years
my call is enjoying the obama concept^^ and i'm in heaven^^
i think the honey moon period will end @Mar09...
will update then!
is now the time to buy GM and Ford? Seems like they can't go much lower - the government won't let them.
they can't go much lower, but can they go much higher? that's the real question
and i don't necessarily know that the gov't bailing them out is a done deal, and even IF they get a bailout I believe it's only going to keep them afloat for a matter of months
my take-GM and Ford extremely speculative
I would stay away from GM and Ford, there is no sound reason to buy them. The gov't won't let them fail, but that has nothing to do with share value.
There are plenty of companies out there that actually do something, make money, etc., and are extremely cheap.
A guy on CNBC said he thought the market would go to 10000-11000, and then down to 3200.
Scary shit.
trace is quite right, government concern about the worker not GM...
that's why i only call for the index.
keep watching oil and gold, oil $50 & gold $700 is the cost of production... when the whole world cut rate and bank will be overflood with money, hot money will start to flow next year and the commodity bubble will start again.
CNBC is the cheerleader for wall street and run by republican. They are not to be trusted.
if you're taking your financial advise from some douche bag on cnbc, good luck. the stock market has leveled, fluctuating around 8500 for about a month now. i think it's bottomed out, and i've been putting as much as i can into the market lately. it's possible that it could take another dive, but i feel pretty confident buying at 8500. for all the gloom and doom in the news, i think the economy is starting to show signs of recovery. housing prices are as low as they are going to go, and lending is loosening up. i think we'll see layoffs for at least another six months, but that's residual from the financial market turmoil of the last six months. what's the old warren buffet saying? "buy when people are afraid. be afraid when people buy."
I think we are hovering above the low too, but not confident that we are in the clear. This straight up run for the last week doesn't inspire me.
I've been nibbling as well, but with much uncertainty I'll hold off on going to crazy. I think people have been scared about the economy, but not the market. All I've seen is 'buy, buy, buy', pretty much all the way down.
What signs are you seeing that the economy is recovering? From a arch/dev/lending perspective, I've only been seeing more caution and indefinite holds.
the turning point is saving citibank and paulson confirmed to buy all junk access.
however this is the end of first wave, next wave is corporate bond, recession data will reveal next april, many will become junk bond.
I'd still be cautious; I know folks in the I-Banking sector and most of them say their asset management divisions are slaughtered - 60%, 70% losses for the year. Thats wealth thats been under management for in some cases 100 years. Thats the money companies use to expand plants, launch products, buy other companies. Theres a real crisis out there and this isnt just another bear market. Buy now sure but be prepared for wild swings for the next 5 years. Remember the crash of '29 was followed by a year long rally until crashing again through the floor as fear gripped businesses
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