Calling the bottom!

[ziggy29]

maybe not

Last half hour. Here come the mutual fund sell orders.

 

[NW-Bound]

Well, if I lose money, I still find solace in reading about people who bought at the "earlier bottoms", before I did.

No, I was wrong!!! Losing money already, and getting no comfort buying lower than people before me!!!

Where's DAWG? I want to tell him I found his "head banging" emoticon on the Web. I may have to use it soon. Am I 'nother born loser ?

PS. No, I am now breaking even.

People who buy MF do not have this "pleasure" of seeing your stock price in real time. No, I am never a day trader (wouldn't mind being one if I know how to make money). Maybe a masochist!

 

[al_bundy]

what a day, don't day trade but i picked up SSO at $27.35 around 3pm, came home, put an after hours sell order in for $29 just in case, took my son out for a walk and came back to find it sold.

 

[OAG]

Look at the futures for today - some are at the down limits. Going to be an interesting Friday on Wall Street. Going to be lots of inexpensive purchases available about 3:30 Pm.

 

[Zathras]

Looks like we should 'test' those lows today!

 

[al_bundy]

the price of oil has a lot to do with this

most of the latest rally was on energy and commodities and they still have to go lower

i'm not looking to buy right away, but with huge price drops like this as long as things stabilize it's a screaming buy signal

 

[HFWR]

I've got the screaming part down pat...

 

[W2R]

Just call me the Oracle.

Ah... Ignore this post.

I am SO hoping that you pinpointed the bottom! (And not just because I bought on October 10th).

Futures are not looking very good today at all, so you may only be right for a few more hours. Fooey.

 

[TromboneAl]

I'm sure tempted to do a little rebalancing...

 

[retire@40]

I'm sure tempted to do a little rebalancing...

And maybe call another bottom.

 

[Gotadimple]

And maybe call another bottom.

So that would be the New! and Improved! Bottom? ? ? ?

-- Rita

 

[al_bundy]

still a chance we'll close up for the day

 

[HFWR]

So that would be the New! and Improved! Bottom? ? ? ?

-- Rita

Some market liposuction...

 

[al_bundy]

we might have a rally going

 

[Bestwifeever]

Rally = Dow drops 200 or less?

 

[al_bundy]

we're above the upper limit of the 5 day trendline and still staying above it. and the average price has been trending up since wednesday morning

 

[W2R]

Looks like we dipped a little bit below T-Al's October 10th bottom. But did anyone notice? There isn't as much panic. I wonder if this means we are closer to a true market bottom.

 

[al_bundy]

i thought only the nasdaq dipped under the intraday oct 10th bottom?

Bob Prechter's newsletter comes out at 5:30pm and he's still calling for a final wave down. i'm very careful with that prediction because in 1987 it didn't happen that way and we are very close to 1987 as far as the price pattern

 

[Bestwifeever]

TV talkingheads predicted Monday would also be "grim" (so then I switched to Martha Stewart to see her touching the bottom of some puppies as she used the Furminator on them, as noted in thefed's dog vs. wife thread).

 

[Dawg52]

TV talkingheads predicted Monday would also be "grim" (so then I switched to Martha Stewart to see her touching the bottom of some puppies as she used the Furminator on them, as noted in thefed's dog vs. wife thread).

The talking heads hope every day is a grim day. **** them.

 

[W2R]

i thought only the nasdaq dipped under the intraday oct 10th bottom?

October 10, 2008
Dow: 8451.19
S&P 500: 899.22

October 24, 2008 (Today)
Dow: 8378.95
S&P 500: 876.77

(Yahoo Finance, historical adj. closing prices)

 

[swkoo]

got to be close to a bottom because all I want to do now is go the the bathroom, close the door, and puke. and thats before i even look at portfolio.

 

[capjak]

R40,

I am not usually a technician or chartist, but agree with you that the volatility must die down, before we can start crawling ourselves out of this hole. Since I have a lot of cash (stop-loss tripping like crazy on the way down), I am attempting a bit of day trading. Didn't work for me before, but being stubborn as I am, keep telling myself I will get the hang of it someday... Sigh...

Never care to gamble in casinos, but this kind of market brings out the gambler in yourself, I am telling ya...

I reccomend "EEV" for gambling it enjoys down markets and I have been lucky...but it really moves so you need to watch it using only "play money".

 

[al_bundy]

October 10, 2008
Dow: 8451.19
S&P 500: 899.22

October 24, 2008 (Today)
Dow: 8378.95
S&P 500: 876.77

(Yahoo Finance, historical adj. closing prices)

meant the intraday bottom

SP500 hit 839 on the 10th

 

[2B]

meant the intraday bottom

SP500 hit 839 on the 10th

I believe if the past postings were checked I called the 10th the bottom. It may not have been on this thread. Since I am never wrong, , it's all upside from here.

This whole mess is just wearing me out. I was in the market in the early 1970's, in 1987, in 2001/2 and I've never seen such gut wrenching moves day after day after day.......

It's like all the computers in the world have their "sell" buttons pushed at the same time with an occasional "buy" button thrown in to mix it up a little.