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Dow 8000?
Old 03-08-2008, 09:12 AM   #1
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Dow 8000?

Dow falls under 12,000 as job losses roil Wall St.

I know I know doom and gloom newguy, But things really are about to hit the fan in a big ugly way.
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Old 03-08-2008, 09:30 AM   #2
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Have the cover stories of Newsweek or Time said we are in a recession yet? I haven't checked.

If they have, it is time to buy stocks.
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Old 03-08-2008, 09:42 AM   #3
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A reasonably good article in this week's Standard and Poor's The Outlook (available at your library or from your broker) describes 3 scenarios about the recession we are already in. They describe what they think is the most probable view, but then nicely describe a gloomier 20% downturn from here and a rosier 20% upturn from here. My synopsis of the article is that everything will hinge on oil prices.

I will note that Dow 8000 is not in any of the scenarios.
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Old 03-08-2008, 09:45 AM   #4
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Whoopeee! Fear, Greed, Lust, Passion.

Football season is over - gonna buy a new pair of heavy gloves, beef up the checkbook and maybe try and catch some falling knives!

The snow hasn't melted and it's too early for a Spring kayak sale at Dick's Sporting goods in Kansas City.

heh heh heh - I wonder if I put my ear to the ground I hear my balanced index getting auto rebalanced at Vanguard. Probably too far away. .

At DOW 7500 - back up the truck! Bet the farm?
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Old 03-08-2008, 09:50 AM   #5
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No, the Dow is actually going negative, which will consume all matter and energy in the universe...

Let's see you diversify that away...
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Old 03-08-2008, 09:56 AM   #6
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Originally Posted by newguy888 View Post
Dow falls under 12,000 as job losses roil Wall St.

I know I know doom and gloom newguy, But things really are about to hit the fan in a big ugly way.
Campaigning for votes a Democrat are you!
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Old 03-08-2008, 10:03 AM   #7
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No, the Dow is actually going negative, which will consume all matter and energy in the universe...

Let's see you diversify that away...
I knew it! I just knew it! We're doomed! Time to take everything out of the market and spend it all on seeds and survival gear.
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Old 03-08-2008, 10:05 AM   #8
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How did you choose dow 8000? Why not dow 5000 for added shock value?
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Old 03-08-2008, 10:08 AM   #9
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Time to buy the gold and the guns and the ammo and years of canned food, and pass the foil hats -- it's apocalypse time again!

The good thing is that the more people like this there are, the fewer sellers are left into the market. This has long been a pretty reliable contrarian indicator -- excessive apocalyptic doom and gloom has tended to be a sign that the bottom is near.
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Old 03-08-2008, 10:10 AM   #10
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Time to buy the gold and the guns and the ammo and years of canned food, and pass the foil hats -- it's apocalypse time again!

The good thing is that the more people like this there are, the fewer sellers are left into the market. This has long been a pretty reliable contrarian indicator -- excessive apocalyptic doom and gloom has tended to be a sign that the bottom is near.
Oh thank goodness. I am ready for some good news, for a change! Bring on the market boom of 2008, and pass the champagne.
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Old 03-08-2008, 10:20 AM   #11
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Oh thank goodness. I am ready for some good news, for a change! Bring on the market boom of 2008, and pass the champagne.

While I'm generally a Bull, I think the market is at a point (to quote Rumsfeld) where we know the "known unknowns" but we don't yet know the "unknown unknowns" so anythings still possible .
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Old 03-08-2008, 10:25 AM   #12
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I don't pay much attention to the DOW but my projection of the S&P 500 is between 1100 and 1150.
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Old 03-08-2008, 10:26 AM   #13
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Wake me up....

When our 4-5 year cash position (I'm retired) is exhausted.

While I'm sure it means a lot (to a lot of people), in my/ DW's case it currently dosen't.

It's good to be old ...

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Old 03-08-2008, 10:37 AM   #14
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Dow 8000 wouldn't be all that bad -- In fact, for young folks such as myself, Dow 8000 sounds very attractive!
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Old 03-08-2008, 10:46 AM   #15
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Absolutely amazing how not so bad (or even good) news can be spun so negatively by the media. The link in the article also shows unemployment rate of 4.8% which is very low by historical standards.
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Old 03-08-2008, 10:48 AM   #16
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Time to buy the gold and the guns and the ammo and years of canned food, and pass the foil hats -- it's apocalypse time again!
Silly me, I just sold my gold and and pocketed the 140% profit I made on it... But maybe I'll use the money to buy canned food and ammo!
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Old 03-08-2008, 10:55 AM   #17
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Absolutely amazing how not so bad (or even good) news can be spun so negatively by the media. The link in the article also shows unemployment rate of 4.8% which is very low by historical standards.
unemployment rate has been drifting down for decades, but stock prices go up on growth in the economy. 5.5% rate might seem low by historical standards but it will cause the economy to grow slower or even contract when you go up from 4.8%
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Old 03-08-2008, 10:58 AM   #18
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Absolutely amazing how not so bad (or even good) news can be spun so negatively by the media. The link in the article also shows unemployment rate of 4.8% which is very low by historical standards.
I think that was primarily due to 450,000 people who stopped looking for work during that time period. At least that is what I read.
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Old 03-08-2008, 11:06 AM   #19
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While the rate, as measured, went down, many people simply 'stopped looking'.
Didn't the method of calculating the unemployment rate change not so long ago?
So while many fewer jobs are available, even fewr people are still looking for them.
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Old 03-08-2008, 11:11 AM   #20
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that always cracks me up how people who stop looking means things are bad. maybe they have enough money to live on and just can't find a job that meets their exact standards.

all you FIRE people probably fall into this as well, shame on you for skewing the official numbers
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