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Old 10-23-2008, 10:35 AM   #141
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Actually, the intraday low was hit on October 10.


Just call me the Oracle.

Ah... Ignore this post.
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Old 10-23-2008, 10:37 AM   #142
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CG,

In general I agree with WB, and yourself. But this down market is quite a bit different than any we have been through.

Saw an interview on CNBC with a panel of 3 veteran MF managers (age: 70+). After the interview, a commentator (in his 40s) said "I have respect for these managers who have long tenure in their work. But they all conceded that this is no bear market like they have seen. Then, how can they predict that the recovery will be like they have seen in the past?" Other reporters did not have much to say after that...
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Old 10-23-2008, 10:43 AM   #143
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CG,

In general I agree with WB, and yourself. But this down market is quite a bit different than any we have been through.

Saw an interview on CNBC with a panel of 3 veteran MF managers (age: 70+). After the interview, a commentator (in his 40s) said "I have respect for these managers who have long tenure in their work. But they all conceded that this is no bear market like they have seen. Then, how can they predict that the recovery will be like they have seen in the past?" Other reporters did not have much to say after that...
Great point......which is the VERY REASON we need more folks in their 40's IN THE SENATE.....too many folks over 70 and 80 in there..........
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Old 10-23-2008, 10:48 AM   #144
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My bad!

According to Vanguard, the "range" from 52 week high to 52 week low
was reached yesterday at 72.77%. The actual high was $142.83 and
the low reached yesterday was $82.67. The drop from high to low was
42.1%. The "range" is the percentage needed to recover from the 52 week low to the 52 week high. Both numbers are scary.

Next time I will do the math myself before posting.

Cheers,

Charlie
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Old 10-23-2008, 11:30 AM   #145
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Gee, what a surprise. Another rally fizzled.
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We've hit bottom
Old 10-23-2008, 11:38 AM   #146
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We've hit bottom

Well, at least according to the Washington Post, and if they've implied it, shouldn't it be true?

From the 10/22/08 edition, the article describes bottom-feeding with interviews from experts. Any time I see interviews from 'experts', including denegration of Jim Cramer, I figure the worst is over.

bargains galore search results on washingtonpost.com&
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Old 10-23-2008, 12:51 PM   #147
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we might just end in the green today
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Old 10-23-2008, 12:57 PM   #148
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93 Down as I write this - Have to wait until the bewitching hour (3 - 4 pm).
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Old 10-23-2008, 01:00 PM   #149
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93 Down as I write this - Have to wait until the bewitching hour (3 - 4 pm).
That's just the Dow. Most everything else is a *lot* worse than that on a percentage basis. REITs are down 8%. MDY (midcaps) down 6%. Russ 2K down nearly 5%.
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Old 10-23-2008, 01:20 PM   #150
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maybe not
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Old 10-23-2008, 02:32 PM   #151
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maybe not
Last half hour. Here come the mutual fund sell orders.
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"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

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Old 10-23-2008, 02:48 PM   #152
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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!
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Old 10-23-2008, 05:59 PM   #153
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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.
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Old 10-24-2008, 06:41 AM   #154
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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.
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Old 10-24-2008, 06:47 AM   #155
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Looks like we should 'test' those lows today!
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Old 10-24-2008, 07:21 AM   #156
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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
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Old 10-24-2008, 08:25 AM   #157
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I've got the screaming part down pat...
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Old 10-24-2008, 08:33 AM   #158
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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.
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Old 10-24-2008, 09:16 AM   #159
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I'm sure tempted to do a little rebalancing...
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Old 10-24-2008, 09:39 AM   #160
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I'm sure tempted to do a little rebalancing...
And maybe call another bottom.
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