Heading under 10,000 on the way!

I told you guys and gains to rebalance and take gains..........hope y'all did.........:)

Financedude
 
The bright side is the Euro keeps getting cheaper. Maybe I will be able to afford to go to Europe in this lifetime after all.
 
NW-Bound said:
Saw video clips of riots in Greece, protesting their gummint's austerity measure. What do Greek citizens want? Going off Euro standard so that they can print more money? When do people learn that gummints do not create wealth ?
Click to expand...

This market action today and Asia later will convince the European Gov't to fund the Greece loan package.

Expect a higher stock market price later in the summer as the point to get fully out.
 
NW-Bound said:
Saw video clips of riots in Greece, protesting their gummint's austerity measure. What do Greek citizens want? Going off Euro standard so that they can print more money? When do people learn that gummints do not create wealth ?
Click to expand...
I don't understand the rioting either, but printing money might actually be the right thing to do, at least according to Krugman. It wouldn't create any wealth, but it would let them devalue their currency and export their way out of this mess. I guess it would also screw their bond holders.
Greek End Game - Paul Krugman Blog - NYTimes.com
 
Hey, we all went through a lot worse in 2008-2009. We're seasoned veterans at this, and if the Dow goes down another 1000-2000 points tomorrow, so what? It will still be nothing by comparison with what we have already seen, and not that long ago either.

It's a buying opportunity, folks. Bring it on! :whistle:

(As for me, I don't need to buy anything yet - - I'm fastening my seatbelt since we might need to hang on tight.)
 
NW-Bound said:
Saw video clips of riots in Greece, protesting their gummint's austerity measure. What do Greek citizens want? Going off Euro standard so that they can print more money? When do people learn that gummints do not create wealth ?
Click to expand...
Are you kidding. They want to retire at 51 and let the Germans pay for it...

Some real panic out there today. A litter farther down and we'll have a nice buying opportunity.
 
I say it's about time for the cash hoarders to show up here and tell us how well they are sleeping at night since they are all cash.
 
FinanceDude said:
I told you guys and gains to rebalance and take gains..........hope y'all did.........:)

Financedude
Click to expand...

You've been saying this since last July, at some point you are going to be right. How much would we have missed if we got out last July?:whistle:
 
No, I'm not 100% cd's. I did cut my stocks from 50% to 25% late last fall. I did buy VXX a couple of days ago, which has help to soften the blow. Wish I had bought more though. :(
 
Eddie says happy hour has officially started even though it's only 3:30 pm here on the east coast. Hey, it's always 5 o'clock somewhere, right? Plus, we need extra meds after today.
 

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FUEGO said:
The bright side is the Euro keeps getting cheaper. Maybe I will be able to afford to go to Europe in this lifetime after all.
Click to expand...
We have been to Europe several times, but not Greece. That was next on our list, but is now scratched off. Summer vacation season is here, but tourists are cancelling their planned trips. The Greeks are just cutting their own throat.

Perhaps I can be a "contrarian traveler", and go there while their hotels and attractions are empty. Just have to watch for and dodge those Molotov cocktails... :rolleyes:
 
Well, the Euro and Europe managed to get themselves in the ditch sooner that I had anticipated...

http://www.early-retirement.org/for...-the-us-dollar-murdered-34067.html#post628937
It has been my opinion that the fall of the US dollar is completely overdone especially Vs the Euro. The purchasing power parity between the 2 currencies is completely out of whack in my opinion, and Europe faces as many challenges if not more than the US down the road. As a percentage of GDP, the US debt (9 trillion dollars) is no larger than that of most Eurozone countries, Europe has many more costly social programs to keep funding in the future, it has generally lower growth hence lower tax revenues to pay for these programs, and European citizens are already maxed out on taxes (as high as 50% of gross income in some countries), so they can't even raise taxes to keep funding these programs. And let's not even talk about the shaky political underpinnings of the Euro as a currency.
Click to expand...
March 2008.

http://www.early-retirement.org/for...urrency-system-evolving-39887.html#post734648
1) the stability of the Euro. The Euro is not like the dollar. It is not the currency of a single, unified country. It's the currency of a group of countries that cannot agree on much and often pull in different directions to suit their particular needs. Every so often, there are threats from Germany and others to do away with the Euro and go back to the good old days when the Bundesbank was setting interest rates appropriate for the German economy. I don't see it happening anytime soon, but given the right political and economic conditions, some countries might want to move away from the rigidity and limitations imposed by the Eurozone. It's interesting to note that more than a few of my European friends think that the Euro will have disappeared in 10 years. Off course the ECB won't acknowledge that...
Click to expand...
October 2008.

http://www.early-retirement.org/for...urrency-system-evolving-39887.html#post734670
European politicians generally support the Euro, but there is no lost resentment for the common currency among regular people. People feel like the Euro was rammed down their throat by eager politicians. The currency switch was followed in many countries by a spike in inflation which reduced purchasing power and increased resentment. I am a European voter, and while I have always supported the Euro, I know plenty of people who never have and never will. If you live in a country in recession and the ECB keeps the interest rates at 4% because other countries are booming, there will be a political backlash and pressure to revert to a national currency will mount. This will only reinforce the argument that the Eurozone is taking decision making out of the hands of national governments (an already touchy subject). Also the Eurozone rule capping national budget deficit at 3% of GDP is also forcing governments to cut back on popular programs in times of crises which fans people's dislike for a centralized currency policy. You may think that this is an unlikely scenario, but you have to understand how we, Europeans, see Europe.
Click to expand...
October 2008

Now look for more social unrest...
 
FIREdreamer said:
Well, the Euro and Europe managed to get themselves in the ditch sooner that I had anticipated...

http://www.early-retirement.org/for...-the-us-dollar-murdered-34067.html#post628937
March 2008.

http://www.early-retirement.org/for...urrency-system-evolving-39887.html#post734648
October 2008.

http://www.early-retirement.org/for...urrency-system-evolving-39887.html#post734670
October 2008

Now look for more social unrest...
Click to expand...

Looks like the UK may have been smart not to go the Euro route. It just proves that most nations want to be paid in US dollars, regardless of what the "experts" say...........;)
 
NW-Bound said:
We have been to Europe several times, but not Greece. That was next on our list, but is now scratched off. Summer vacation season is here, but tourists are cancelling their planned trips. The Greeks are just cutting their own throat.

Perhaps I can be a "contrarian traveler", and go there while their hotels and attractions are empty. Just have to watch for and dodge those Molotov cocktails... :rolleyes:
Click to expand...

Go to Italy - south, north or Sicily. Greece is like a 2 1/2 world country. If you want to see Greek statues go to the British Museum.
 
73ss454 said:
You've been saying this since last July, at some point you are going to be right. How much would we have missed if we got out last July?:whistle:
Click to expand...

I will refer you now to my quote of 4/16/2010..........:)

http://www.early-retirement.org/forums/f28/dow-prediction-for-12-31-10-a-49722-2.html#post926263

Sorry...........I don't see any reason to be bullish as long as the govt is spending money like water, the Euro is in freefall, and we still have high unemployment...........
 
FinanceDude said:
Looks like the UK may have been smart not to go the Euro route. It just proves that most nations want to be paid in US dollars, regardless of what the "experts" say...........;)
Click to expand...

Hum, not sure the UK has much to celebrate either... I am watching those elections closely.
 
So maybe Russian or Chinese or Nigerian hackers just did berry berry well in the markets today?
 
W2R said:
Yeah, somebody really made out. :mad:
Click to expand...

I think you're right. Wall Street flexing its political muscle or just an "accident"?... hum, dunno. But for sure someone must have made a killing.
 
Ok, so the market recovers, and I may not even set a new personal record of single-day loss. :dance:

Wait! Still have to wait for MF reporting. :-(

I feel like re-posting a song entitled Méditerranéenne, actually an Italian song with French lyrics by Hervé Vilard, but he sung about the Camargue region of France rather than the Aegean sea. That would cheer everyone up. :)
 
Something glitched in the electronic trading or got massively manipulated.

At one point PG traded at 39 and change even though the NYSE itself had no trades under 56 (it closed around 60). Accenture had a listed trade at ONE CENT and closed around $40.

This wasn't simply a wave of panic selling. Something went very wrong. As if investors needed another reason not to trust the markets...
 
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