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Old 10-10-2008, 07:04 AM   #21
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Originally Posted by clifp View Post
I am selling everything tomorrow.

Now we have a bottom.
Isn't that a little extreme? What made you decide to do this right now?

I am curious but not meaning to be critical - - believe me, I think most of us are pretty freaked right now. What effect will this have on your ER income and your ability to live a lifestyle reasonably close to that to which you are accustomed? What was "the last straw"?
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Old 10-10-2008, 07:06 AM   #22
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Originally Posted by Hal3 View Post
whence (like thence) is most often used nowadays to impart an archaic or highly formal tone to a passage (thefreedictionary.com)

We are discouraging the use of Middle English. Here and, frankly, everywhere.

Whence, thence, lo and behold, hearken, and, especially, methinks - just stop.
Would Old English be good with you then? Or maybe Pig Latin?
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Old 10-10-2008, 07:08 AM   #23
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Methinks thou speakest for some other forum from whence thou cameth previously? Lo and behold, we haveth no problems with Middle English or even Pirate-speak here at the E-R Forum.... Aargh!!
Indubitably. Tally ho! Forthwith! Groovy!
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Old 10-10-2008, 07:08 AM   #24
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Just remember that the PE ratio involves earnings that can change too. When the earnings of the S&P drop by 50% then the PE will be back up to 21.4. Hmmm, doesn't look to good then.

By the way, most market bottoms acutally occur at "high" PEs and usually for this reason.
This is why P/E is a terrible measure of valuation in a down economy.

Personally, I think the ratio of ten-year earnings yield of the S&P 500 (that is, the inverse of PE10) over the one-year T-bill rate is a pretty good indicator of valuation -- the higher the number, the more attractively valued the market is. P/E is only part of the story with stock valuations; the rest of it depends on the return you can get in relatively safe investment alternatives. A P/E of 10 may seem cheap but if Treasury notes are yielding 8%, the market isn't giving enough of a premium to take the risk.
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Old 10-10-2008, 07:11 AM   #25
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Originally Posted by Hal3 View Post
whence (like thence) is most often used nowadays to impart an archaic or highly formal tone to a passage (thefreedictionary.com)

We are discouraging the use of Middle English. Here and, frankly, everywhere.

Whence, thence, lo and behold, hearken, and, especially, methinks - just stop.
Now that I reread this, I'm becoming suspicious. If you are "we", then you must also be "they". "They" are the ones who've caused all this brouhaha, and "they" are always the ones to blame for all of "our" problems. Pitchforks and torches, brothers and sisters! We have a target!
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Old 10-10-2008, 07:18 AM   #26
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Would Old English be good with you then? Or maybe Pig Latin?
Hark my fair admin, Old English does assail my senses. Ixnay.
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Old 10-10-2008, 07:19 AM   #27
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Isn't that a little extreme? What made you decide to do this right now?

I am curious but not meaning to be critical - - believe me, I think most of us are pretty freaked right now. What effect will this have on your ER income and your ability to live a lifestyle reasonably close to that to which you are accustomed? What was "the last straw"?
I'm not selling. Going down with the ship. But if one truly believes the market will reach 6,000 and now some 5,000, might not be such a bad idea. Save yourself another 40% drop. And the sell off has the momentum to reach those levels.

Again, I'm not selling now. I don't know the bottom and I have been burned by bailing late in the game on previous corrections. But I can understand why some are selling now.
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Old 10-10-2008, 07:20 AM   #28
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...
I'm still unhappy we haven't reinstituted the uptick rule. I hope they are looking for naked shorters. I can't believe the massive dumping of stocks done over very short periods in the last week involved "real" shares.
I'm not sure why they haven't reinstated the uptick rule. I seriously doubt it has had much effect since stock were traded in eighths. The fact that they haven't reinstated the rule makes me think there is a conspiracy in there somewhere.

As to "they" looking for naked shorters, I would guess you are refering to the SEC. I have less faith in the SEC than the president, the treasury secretary and the Fed chief. (that's spelled "incompetent")

It's too bad all this didn't happen prior to the primaries. Ron Paul would have stood a better chance of making an impact.

Anybody besides me think that signing Paul Volcker on the ticket would be a good idea?
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Old 10-10-2008, 07:29 AM   #29
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Originally Posted by Sarah in SC View Post
Would Old English be good with you then? Or maybe Pig Latin?
"Whan that Aprille with his shoures soote
The droghte of Marche hath perced to the rotte,
And bathed every veyne in swich licour,
Of which vertu engendred is the flour - - "

Is-ay at-thay old-ay English-ay? Aucer-chay is-ay ee-thay oldest-ay otation-quay I-ay an-can emember-ray ight-ray ow-nay.
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Old 10-10-2008, 07:38 AM   #30
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6:37 Pac under 8000 - before i could post it went under 7900. wowee!
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Old 10-10-2008, 07:39 AM   #31
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I'm not selling. Going down with the ship. But if one truly believes the market will reach 6,000 and now some 5,000, might not be such a bad idea. Save yourself another 40% drop. And the sell off has the momentum to reach those levels.

Again, I'm not selling now. I don't know the bottom and I have been burned by bailing late in the game on previous corrections. But I can understand why some are selling now.
To be completely honest, I don't know what I can do but hold on and stay the course at this point.

I would feel like I was shutting the barn door after the horse got away. Or mostly got away - - guess we still have around 56% of our high 14,100 Dow as of this moment.

But then, I never claimed to be a great investor! So I am interested in other viewpoints.
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Old 10-10-2008, 07:40 AM   #32
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They're forecasting a disastrous day today. Hope Cramer is ready to sell when we jump up 400 points. I haven't seen the media get it right yet.
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Old 10-10-2008, 07:42 AM   #33
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Fell more than 600 but just shot back 300 points in five minutes. VIX just hit 70.
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Old 10-10-2008, 07:42 AM   #34
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I'm still hanging in with my index funds. I'm panicing like everyone else but so far I'm not doing anything about it. Will I be so "calm" if another 25% of my net worth disappears?[/quote]
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Old 10-10-2008, 07:43 AM   #35
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Hang in there, there is no such thing as a stock market of zero, we are about at the bottom, have patience, go fishing, it will come back up.

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Old 10-10-2008, 07:43 AM   #36
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If this isn't capitulation, I don't know what it will take to get us there.
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Old 10-10-2008, 07:45 AM   #37
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If this isn't capitulation, I don't know what it will take to get us there.
I haven't been one to call a bottom, but we may have hit one. We've gone from -695 to -120 in five minutes. It's come off that a little bit, but still...
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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 10-10-2008, 07:46 AM   #38
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To be completely honest, I don't know what I can do but hold on and stay the course at this point.
Same here. If I do I know there will be a sudden huge upturn while I'm still hiding in the bunker...
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Old 10-10-2008, 07:46 AM   #39
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Hang in there, there is no such thing as a stock market of zero, we are about at the bottom, have patience, go fishing, it will come back up.

jug
I agree. Everybody off the board today! Take a walk, mow the grass, wash the dog, whatever. Quit sitting around freaking out. And turn off the TV! Signing off, see you later tonight or tomorrow. Taking a mental health day.
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Old 10-10-2008, 07:46 AM   #40
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From whence came that opinion? Hearken! Methinks ye should hearken to other forms of English.

Lo and behold, others gather to agree!!

Hence, varlet, do not tarry, but flee, fleee, fleeeee!!!!

ta,
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