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Old 10-24-2008, 09:23 AM   #21
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Thanks re buying today, W2R and Leonidas--my little inner voice said this might be the day to put a little more into Wellesley, for example, but on the other hand sometimes I feel like the baby seal in my ignorance and would be ripe for the clubbing since the knife will probably continue falling.

Or maybe I meant "anyone buying today?" to mean a round of that special get-you-through-the-day medicine some speak of on this board? Hey, I'll pop for the first one.
I bought more Wellesley on the October 10th low, along with Total Stock Market. Even if you encounter the falling knife, Wellesley will still keep pouring out those dividends.

I would buy more, but my plan has Wellesley at 30% and I am within a fraction of a percentage point of that amount as of yesterday's market close. I think 30% is as high a percentage of one fund as I dare realize.
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Old 10-24-2008, 09:24 AM   #22
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Originally Posted by Leonidas View Post
Calling my stock dude after I finish this last cup of coffee. We're working on the shopping list for the big buys in my taxable account. Looking at the pre-open this morning made me think I might just take some nibbles here and there in my IRA, but the complete bloodbath has failed to materialize. I was looking for a total and complete baby-seal clubbing to happen and I figured that would be the signal - but it just didn't happen.
Check back the last half hour. Sometimes a rally, sometimes a big sell off.
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Old 10-24-2008, 09:32 AM   #23
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Check back the last half hour. Sometimes a rally, sometimes a big sell off.
What I was looking for was to be down 1,000 pts. on the Dow before lunch. I'm talking a high volume annihilation of everything - real end of the world stuff. Bodies landing on Wall Street. Followed by utter shock and fear. That's when I want to buy.
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Old 10-24-2008, 09:36 AM   #24
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What I was looking for was to be down 1,000 pts. on the Dow before lunch. I'm talking a high volume annihilation of everything - real end of the world stuff. Bodies landing on Wall Street. Followed by utter shock and fear. That's when I want to buy.
Ouch!! Then I hope you don't get to buy anytime soon.
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Old 10-24-2008, 09:37 AM   #25
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Again, Leo, nice baby seal. I like the sentiment!
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Old 10-24-2008, 09:39 AM   #26
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" If you can remain cool calm and collected while everything around you is in total chaos and confusion... chances are you just don't have a clue as to what's going on "
Ignorance is bliss.......that's my motto...

Not exactly whistling zipp ah dee do dah out the ying yang, but I'm certain I will smile today.
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Old 10-24-2008, 09:56 AM   #27
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We have our new mascot - the baby seal That kinda symbolizes how I feel these days
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Old 10-24-2008, 10:10 AM   #28
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Ouch!! Then I hope you don't get to buy anytime soon.
Sorry, but I'm looking at this market right now on technical terms with a very wide time horizon. If you look at the market in terms of decades, we are either at the end of an 8 year consolidation period before a very nice bull market, or at the beginning of one nasty multi-year bear market. I'm hoping fervently that it's the former, rather than the latter. If we just keep moving down in jagged little chunks here and there, then it could be the latter, and we could see the DOW well below 6,000. But if we sell this sucker off, and make people cry "surrender", and go into a long term secular bull, then it could be...well, just amazing.

Again, that's all just based on my broad strokes, simple-minded technical analysis. I would have to do acid, 'shrooms, and a fifth of Jack Daniels before I would even try to figure out the fundamentals.

However it ends, it will be interesting to live through. Great fortunes will be made or lost here.
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Old 10-24-2008, 10:17 AM   #29
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Don't know about anyone else, but I am tired of these buying opportunities. I sold out all the positions in my brokerage account some weeks ago and that is making this period less stressful for us as we have plenty of cash on hand to support us for 5+ years, so I don't worry about what we have left in the market.

Only buying I am doing is my monthly purchases thru my Vanguard mutual funds, other than that my hands are staying in my pocket.
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Old 10-24-2008, 10:45 AM   #30
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I'm going out kayaking on a cool (as in temperature) mountain lake, but before I go I'm taking my medicine: a great big hunk of dark chocolate. Who cares about belly fat when you're losing your ass. You've got to have something to sit on.
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Old 10-24-2008, 10:47 AM   #31
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I like that way of thinkin'! I prefer to drink my calories though......
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Old 10-24-2008, 10:48 AM   #32
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I'm going out kayaking on a cool (as in temperature) mountain lake, but before I go I'm taking my medicine: a great big hunk of dark chocolate. Who cares about belly fat when you're losing your ass. You've got to have something to sit on.
But, but... if I get into some divine Belgian chocolate, then I'll end up both fatter and poorer! And we all know that you can't be too thin or too rich.
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Old 10-24-2008, 10:50 AM   #33
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I like that way of thinkin'! I prefer to drink my calories though......
I'm going to do that too when I get back. A nice comforting day ahead. . .
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Old 10-24-2008, 11:22 AM   #34
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Let's see. I bought on October 10th, 14th, and 20th. Should I buy today?

Nah - - I think I'll just sit back and watch, today.
Yeah, me too, bought just a little on days proximate to those. I should have waited like my right brain told me too. Unfortunately, my left brain keeps telling me to buy on the big dips. Problem is the dips just keep getting bigger.

Yesterday I bought a new (used) dining room set for $300 to replace the tiny one I have. It will be delivered momentarily. Lots of relatives are coming to visit for the holidays this year.

Then I'm going out for a two hour hike with my dog. Like you, Want2Retire, I'm going to sit back and watch.
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Old 10-24-2008, 12:01 PM   #35
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Anyone buying today?
Kinda, I'm exchanging 45% of my Wellesley (down 7%)for Wellington. (down 20 something %) Nothing too dramatic. I may re balance soon as well, my 60/40 IRA is now close to even steven..........shredder
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Old 10-24-2008, 12:03 PM   #36
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I stayed home from the gym this morning, and may hold my nose and buy just before the close (markets close at noon my time). I haven't bought to rebalance yet except for some ceremonial pocket change on the first big dip just to prove to myself I wasn't scared (except I was and still am).
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Old 10-24-2008, 12:10 PM   #37
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I was ready to do some early re-balancing into stock funds today and then I read Liz Ann Sonders breaking commentary this morning. "The Great Hedge Fund Unwind Accelerates."

https://www.schwab.com/public/file?c...efpid=P-997178

Seems as if leveraged accounts are being called in forcing fire sales. She notes in this commentary that hedge fund holders have only until 11/30 to make any final requests for sales. I'm assuming that November will also be rocky, but December will be less volatile as hedge funds will have deleveraged and the run on these funds will be over until January.

-- Rita
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Old 10-24-2008, 12:29 PM   #38
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Sorry, but I'm looking at this market right now on technical terms with a very wide time horizon. If you look at the market in terms of decades, we are either at the end of an 8 year consolidation period before a very nice bull market, or at the beginning of one nasty multi-year bear market.
I assume you know that this is malarkey?
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Old 10-24-2008, 12:30 PM   #39
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I assume you know that this is malarkey?
about as much as random walk and efficient market hypothesis
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Old 10-24-2008, 12:31 PM   #40
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Well, there is that "rational investor" we learned about, right?
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