I know we must be close to the bottom

[Marquette]

Would Old English be good with you then? Or maybe Pig Latin?

Hark my fair admin, Old English does assail my senses. Ixnay.

 

[Dawg52]

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.

 

[riskadverse]

...
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?

 

[W2R]

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.

 

[calmloki]

6:37 Pac under 8000 - before i could post it went under 7900. wowee!

 

[W2R]

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.

 

[harley]

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.

 

[ziggy29]

Fell more than 600 but just shot back 300 points in five minutes. VIX just hit 70.

 

[jug]

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]

 

[jug]

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

 

[ikubak]

If this isn't capitulation, I don't know what it will take to get us there.

 

[ziggy29]

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...

 

[REWahoo]

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...

 

[harley]

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.

 

[mews]

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,
mews



(and it IS nice out here in the Northeast - a walk would not be amiss...)

 

[REWahoo]

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.

Even though I'm a passenger I can't stop watching the train wreck...

 

[Culture]

Even though I'm a passenger I can't stop watching the train wreck...

It is oddly fascinating, isn't it? I am stating to wonder at what point i will seriously start to worry. Hasn't happened yet, but it would be foolish to say it won't.

 

[SecondCor521]

This may be one of the best indicators yet. When the "buy and hold" types throw in the towel.

I'm emotionally close to this point if intellectually far away.

2Cor521

 

[ikubak]

When even Berkshire Hathaway is down 20% in less than 30 minutes, you have to wonder. Either this is the beginning of the worst economy since the early thirties or it's the buying opportunity of a lifetime. I am going to guess the latter.

 

[W2R]

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,
mews

You are good at this!

(and it IS nice out here in the Northeast - a walk would not be amiss...)

It is absolutely gorgeous in New Orleans - - sunny, slightly cool, and no oppressive humidity at the moment. I have been working on the yard, or perhaps I should say I have been puttering about in the yard doing a few things here and there, between posts. Later on Frank will take me to lunch since we both have today off, so I'll get away for a while.

 

[al_bundy]

When even Berkshire Hathaway is down 20% in less than 30 minutes, you have to wonder. Either this is the beginning of the worst economy since the early thirties or it's one of the buying opportunity of a lifetime. I am going to guess the latter.

BK has a lot of businesses that will suffer a lot in a recession

Buffet also made some commodity related investments in the last few years and those are being crushed

 

[ziggy29]

Time to go walk the dog since I have the day off...

 

[laurence]

I've become glued to the financial web sites, I need an intervention. I'm trying to scrape together some extra cash to throw into the market. It's really weird to keep going, "Dang, it's really hit bottom now and I only have x $ to throw in....oops, nevermind" over and over.

 

[ikubak]

BK has a lot of businesses that will suffer a lot in a recession

Buffet also made some commodity related investments in the last few years and those are being crushed

Even the wisest amongst us is not immune. On days like this I can sit back and think, "Damn, at least I'm not losing as much money as Buffett is today."

 

[unclemick]

I've become glued to the financial web sites, I need an intervention. I'm trying to scrape together some extra cash to throw into the market. It's really weird to keep going, "Dang, it's really hit bottom now and I only have x $ to throw in....oops, nevermind" over and over.

Anybody have handy Warren Buffett's old quote along the lines of 'an oversexed teenager in a Cathouse' relative to buying opportunities in the 73/74 Bear market?

Still looking and trying to scrap up spare cash - I think the needle has bent on my greed meter. I haven't a clue as to what to buy - but with everything seemingly on sale, I have this overwhelming urge to buy something.

I hope nobody has unplugged the computers rebalancing my balanced index fund.

heh heh heh -