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Old 06-20-2008, 03:15 PM   #21
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I still wish there was a way for an ordinary joe to make money by selling a long position and buying a short position on Thursdays just before the close, and covering the short and re-establishing a long position just before the Friday close in order to profit from the usually crappy Friday market. If there were no commissions involved, seems like this would be easy money lately.
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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 06-20-2008, 03:16 PM   #22
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I am getting a little tired of the game, and would welcome an opportunity to sell good quality companies and historically high prices. (Not sure what the correct emoticon to use is)
Let me know when the time presents itself to do so. In the mean time....

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Old 06-20-2008, 03:26 PM   #23
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While I am optimistic overall, I still see some margaritas in my future this weekend. It's been a rough week.
Crud!!! Dow closed at 11,842

I don't drink, so I guess I'll curl up with a glass of skim milk and an antiquated AD&D game, and call it a day. Life goes on and I intend to enjoy the heck out of this evening because once it is gone, it is gone.

We can always emulate Scarlett in the movie, holding a turnip up to the sky as Atlanta burned and vowing, "As God is my witness, I will never be hungry again!"

Right now that is a little too intense for me, but it's in my back pocket in case of emergencies.
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Old 06-20-2008, 04:11 PM   #24
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I'm really surprised, given the proliferation of ETFs out there, that no one has come up with a "Go Short on Fridays" ETF. I'm half-serious.
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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)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
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Old 06-20-2008, 04:41 PM   #25
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I had the same situation with Bank of America stock from when I worked there many years ago. I sold all of it (3,656 shares) back in October for $50.55/share. It's now $27.22/share. Miss those great dividendbs although I bet BAC ends up cutting them.
Didn't BOA announce a 66% reduction in dividends yesterday?
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Old 06-20-2008, 05:09 PM   #26
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Remember the day the stock market was REALLY bad a few years ago?

I didn't think so.

In a few years everyone will forget how bad the market was today too.
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Old 06-20-2008, 05:40 PM   #27
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Hmmm - started 1966 out of college - I'd just as soon not see a rerun of the DOW 1966-1982. Now that I'm retired, I prefer other forms of entertainment.

heh heh heh - sooo without too much pssst Wellesley - is anybody checking their current yield that haven't really paid much attention in a while? I think my last twinge(aka the pucker factor) was back in 02/03 when my Lifestrategy moderate was -16.5% YTD one quarter. Stay cool - ala Bogle hurry up just stand there! Unless of course you have some hobby/hormone/greed/lust money to play with!
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Old 06-20-2008, 05:41 PM   #28
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Remember the day the stock market was REALLY bad a few years ago?

I didn't think so.

In a few years everyone will forget how bad the market was today too.

Not so sure I for one remember the tech melt down especially the one day when I lost $50,000 in an hour .
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Old 06-20-2008, 06:34 PM   #29
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Crud!!! Dow closed at 11,842

I don't drink, so I guess I'll curl up with a glass of skim milk and an antiquated AD&D game, and call it a day. Life goes on and I intend to enjoy the heck out of this evening because once it is gone, it is gone.

We can always emulate Scarlett in the movie, holding a turnip up to the sky as Atlanta burned and vowing, "As God is my witness, I will never be hungry again!"

Right now that is a little too intense for me, but it's in my back pocket in case of emergencies.
Nitpick: I thought it was radishes.

Anyone?
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Old 06-20-2008, 06:37 PM   #30
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Old 06-20-2008, 06:43 PM   #31
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It's the scene before that, where her father tells her there are radishes in the garden.
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Old 06-20-2008, 07:22 PM   #32
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Crud!!! Dow closed at 11,842

I don't drink, so I guess I'll curl up with a glass of skim milk and an antiquated AD&D game, and call it a day.
Maybe it's time to take up drinkin'
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Old 06-20-2008, 07:25 PM   #33
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Crud!!! Dow closed at 11,842

I don't drink, so I guess I'll curl up with a glass of skim milk and an antiquated AD&D game, and call it a day. Life goes on and I intend to enjoy the heck out of this evening because once it is gone, it is gone.

We can always emulate Scarlett in the movie, holding a turnip up to the sky as Atlanta burned and vowing, "As God is my witness, I will never be hungry again!"

Right now that is a little too intense for me, but it's in my back pocket in case of emergencies.
+20 for D&D reference
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Old 06-20-2008, 07:36 PM   #34
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Looked like a carrot to me.
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Old 06-20-2008, 07:36 PM   #35
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I have a transfer at work, and I just cannot stand the waiting for my chance to get to Oregon.
Help me out here. How does today's market dive impact your work transfer?
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Old 06-20-2008, 07:40 PM   #36
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LOL I was thinking. Hey this thread just went twilight zone all of a sudden
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Old 06-20-2008, 07:41 PM   #37
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Crud!!! Dow closed at 11,842
Yes, it's unpleasant when stocks drop, but if this is the worst the market has to offer then it's not clear why everyone isn't 100% in equities. Currently, this is a minor blip in a long-term. Without risk, there is limited reward.

I don't know what tomorrow will bring, but I agree, stocks are cheaper today than they were yesterday. It is a buying opportunity. Also, this is a great time to tax loss harvest. In fact, I'm using the market downturn to clean-up and simplify my portfolio. I can do this without significant capital gains, and the taxes on those gains. I cannot control the market, but I can control expense ratios and taxes. This is a good time to work on limiting taxes.
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Old 06-20-2008, 07:49 PM   #38
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Per Wiki: "On January 7, 1970, four-and-a-half months after the festival, Yasgur was sued by his neighbors for area property damage caused by the attendance of the "flower children". The damage to his own property was far more extensive and, over a year later, he received a $50,000 settlement to pay for the near-destruction of his dairy farm.
In 1971, less than two years after the festival, Max Yasgur sold the farm, and nineteen months later, died of a heart attack at the age of 53".

Oregon is excited to hear you are coming. Please bring work ethic. Long hair optional. clothes optional. politics optional. Plenty of meth here already. try NE Oregon for open spaces.
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Old 06-20-2008, 08:56 PM   #39
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It's a buying opportunity. The advantage of being conservatively positioned for years, is I've got some bonds and cash to rebalance into stocks. (Though I'm having to reach pretty far under the mattress these days.) I'm still working and there is nothing else to do. Can't retire yet. The only way to retire is through the market doing well. Sitting on cash, chances are I'll still be sitting on it when the market inevitably takes off, after losing to inflation in the meantime. If I don't invest, I can't retire. If I do invest and the market stays flat, I can't retire. If I do invest and the market recovers, I can retire earlier. It's the only game in town for me.
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Old 06-20-2008, 09:00 PM   #40
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This is a good time to work on limiting taxes.
Your probably right. But I would like to work on harvesting some gains, one of these years.
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