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Old 01-20-2009, 07:00 PM   #21
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There is nothing left to say.
My sentiments exactly. DW was layed off today, but we'll be OK. Looking forward to the new economic expansion, but not expecting it soon. 2010?
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Old 01-20-2009, 07:05 PM   #22
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My sentiments exactly. DW was layed off today, but we'll be OK. Looking forward to the new economic expansion, but not expecting it soon. 2010?
I am so sorry to hear this! Glad you will be OK, but still, it probably isn't what you had hoped or planned.
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Old 01-20-2009, 07:32 PM   #23
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I see the market continuing to spiral downward. I plan to buy SDS (ETF - Ultrashort S&P) very shortly.
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Old 01-20-2009, 07:34 PM   #24
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I see the market continuing to spiral downward. I plan to buy SDS (ETF - Ultrashort S&P) very shortly.
Let us know when you do it please!

ha
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Old 01-20-2009, 08:01 PM   #25
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I was telling some others I'm experiencing some survivor guilt. DW and I are buying as much stock as we can every month (which will probably only be $30k this year) while continuing to pay extra on the house. For us, in our early 30's, this downturn couldn't be better timed as we finally have the income to "buy in". But I consider many here as friends and hate to see the suffering.
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Old 01-20-2009, 08:03 PM   #26
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I was telling some others I'm experiencing some survivor guilt. DW and I are buying as much stock as we can every month (which will probably only be $30k this year) while continuing to pay extra on the house. For us, in our early 30's, this downturn couldn't be better timed as we finally have the income to "buy in". But I consider many here as friends and hate to see the suffering.
Laurence, you say that so nicely and sincerely that I don't even get mad at you.

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Old 01-20-2009, 08:13 PM   #27
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As I was staring at my windows deciding if I should jump I noticed they really need to be washed .
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Old 01-20-2009, 08:36 PM   #28
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As I was staring at my windows deciding if I should jump I noticed they really need to be washed .
Well, are they clean now?
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Old 01-20-2009, 08:51 PM   #29
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Well, are they clean now?


No , today I watched the inauguration maybe tomorrow ! I have three stories of windows in the front of my house so cleaning them is a major job .
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Old 01-20-2009, 09:06 PM   #30
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Not a garden variety panic, and although intervention has been huge I believe that much of it has been corrupt and wrong headed. It has certainly not been effective.
Unfortunately, we don't know that the bailout hasn't been effective. We can't know just how bad the market and our financial system would have been without the giveaway. Those who think it was a good idea probably think it was just too little, or not done in some particular way that they would favor, and there are already calls for much more of the same. Yep, with just more money everything will be fine. It's only money--our money.
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Old 01-20-2009, 09:10 PM   #31
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My sentiments exactly. DW was layed off today, but we'll be OK. Looking forward to the new economic expansion, but not expecting it soon. 2010?

Sorry to hear but doesn't your wife have that incredible sewing ability ? Maybe she could do that part time while looking for a new job . I love personalized purses .
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Old 01-20-2009, 10:11 PM   #32
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I've been too busy working on my alligator video to panic!

I rebalanced on 1/15. That was way better than rebalancing on 1/2 or 1/3, but another big spiral down right afterwards will be disappointing.

Unless we have a huge rally (causing a "good" rebalance!) I will be sitting on my hands for the rest of the year. I'm already down to my minimal years worth of cash + bonds, so I can't buy anymore dips in equities this year. In a way this is quite liberating as I can go off and do other things and not pay attention to how bad the market gets. Maybe by Jan of 2009 things will have settled down. We can only hope.

Midpack - bummer about the wife's layoff!

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Old 01-21-2009, 12:07 AM   #33
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I have to say today's plunge really was a shock. I thought with all of the goodwill from the Obama inauguration, plus nice feel good stories like the miracle on the Hudson, that investors would be a little less fearful. I guess not.


I have gone through Plans A-G and I am starting to run out of letters in the alphabet. Maybe Audrey's plan just forget the market this year is starting to look better.

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Old 01-21-2009, 12:15 AM   #34
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I have to say today's plunge really was a shock. I thought with all of the goodwill from the Obama inauguration..
Maybe you have something here...

Ha
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Old 01-21-2009, 12:34 AM   #35
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BTW, I think I made a fundamental error earlier this fall by assuming that this situation was a garden variety panic, and that governmental intervention would be huge and effective.
...
I remember a past poll about how we would compare the current economic condition to the dotcom bust and 9/11 period. I was among the minority to vote for "about the same".

While it remains true up to this point that my financial situation is better than it was back then (knock on wood), I will admit that I was wrong. This financial crisis reaches much deeper than the last bear market. Banks around the world are having problems. There are talks of stimulus and bailouts in France, England, Germany, Singapore, etc... You name it.

I think people may slowly realize that the current financial crisis is not caused by a single person (now a former president, who of course could be blamed for other bad policies), hence a presidency change will not bring immediate relief.

I have been preparing myself to hunker down for a few lean years. I will survive this.
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Old 01-21-2009, 07:51 AM   #36
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I'm already down to my minimal years worth of cash + bonds, so I can't buy anymore dips in equities this year.
I am feeling that way, too. As of this morning my portfolio is unbalanced by 3% (instead of 45:55, it is now 41.8:58.2). I am thinking about rebalancing, but I don't want my cash to go much below where it is now. Besides, who knows? Yesterday's drop might only last a day or two. If the Dow stays below 8000 for a couple of months, then maybe I might rebalance.
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I have to say today's plunge really was a shock. I thought with all of the goodwill from the Obama inauguration, plus nice feel good stories like the miracle on the Hudson, that investors would be a little less fearful. I guess not.
I was shocked, too. I was SO SURE that the market would soar and I am so perplexed.
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I have been preparing myself to hunker down for a few lean years. I will survive this.
We all will, and once we have we will have stories to tell our grandchildren - - just like the stories many of us heard about the Great Depression from our parents or grandparents. And they will roll their eyes just like many of us did when hearing those stories many years ago.
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Old 01-21-2009, 08:08 AM   #37
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The bad news is stocks might just be getting close to long term trend

S&P Regression to Trend | The Big Picture

They're far away from a bear market bottom in the traditional sense. Unfortunately stocks have been too expensive for a decade or more.
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Old 01-21-2009, 10:00 AM   #38
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This market is starting to look like late September and October again with significant rallies being sold off sharply...

I'm done "averaging down" and "rebalancing" for the foreseeable future.
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Old 01-21-2009, 10:06 AM   #39
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The bad news is stocks might just be getting close to long term trend

S&P Regression to Trend | The Big Picture

They're far away from a bear market bottom in the traditional sense. Unfortunately stocks have been too expensive for a decade or more.
I feel like everything has been too expensive for a decade or more.
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Old 01-21-2009, 10:06 AM   #40
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I feel like everything has been too expensive for a decade or more.
And the problem is, it's only our assets that are correcting in price, not expenses (other than gas prices)...
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