Wow - DOW 10,000 again

[unclemick]

As I mentioned before, I really should. I just can't get myself to reach for that rapidly plunging dagger.

I'm just standing back imagining I can hear those Vanguard computers merrily humming away rebalancing my Target Retirement.

heh heh heh - should I toss in a Pssst - Wellesley for good measure?

 

[Steve O]

Will the tin foil hat work better If I shave my head first

 

[retire@40]

I can't wait for the DOW to get back to 14,000 and look back at all this.

 

[al_bundy]

In the case of forced selling, the stock price just keeps dropping until it finally attracts a buyer.

Realize that this brutal selloff is occurring on very low volume. Most of the usual market players are just waiting on the sidelines. The only ones trading are forced sellers and reluctant buyers.

Audrey

it's not that low but if this was the end of the world you would expect extremely high volume.

one of my trading blogs the author said you spot a real capitulation day when the index drop at the open, then rally, fall again but not below the previous low for the day, rally, fall a bit more and start to rally around 12:30pm or a little later in the afternoon.

 

[Lusitan]

Where are all the tinfoil hats and caches of ammo jokes that were so common over here in this forum?

I dunno ... maybe all those guys jumped out of their office windows?
Tin-foil hats, ammo, canned goods ... we should add trampolines to the apocalypse "must have" list ...

Let's party like it's 1999!

 

[ziggy29]

Let's party like it's 1999!

I think you may be partying 70 years too late.

 

[Notmuchlonger]

Good job on oil today Ziggy.

 

[ziggy29]

Not sure it means anything, but it is a little scary.

The Dow first cracked 100 in 1916. It didn't permanently stay above 100 until 1938.

The Dow first cracked 1000 in 1972 (and was as high as 995 in 1966). It didn't permanently hold 1000 until 1982.

The Dow first cracked 10,000 in 1999. And now, nearly a decade later, it's back under 10,000.

The round numbers seem like they should just be symbolic, but for some reason, the market has historically had a terrible time holding the milestones.

 

[audreyh1]

I still don't get how you can sell something if no one is buying?

I didn't say there were NO buyers. I said there were few buyers. And they are reluctant buyers, so that only the most desperate sellers are able to unload their stocks.

Audrey

 

[ziggy29]

I still don't get how you can sell something if no one is buying?

Every trade requires a buyer and a seller. But when buyers don't want to come out, you have to keep dropping the price lower and lower until you get a nibble.

Same as in a bull market (remember those?) -- people want in, but people who are currently long may not sell unless they can coax the price higher and higher until they are willing to sell their shares.

 

[calmloki]

Got lucky? Sold, or settled i guess, VFWIX friday, just plonked the same amount into VWO this morning. So we take a tax loss and move our all world exUS foreign fund into an iffier developing market ETF. More a thought experiment than investment move, as we barely have enough in the market to feed a coupla parakeets. I feel for those of you with your whole retirement in the market - scary times! 'Course no one is buying our rental property so i can quit dealing with meth-boy and the po' house singers, but at least some rent is still coming in.

 

[audreyh1]

Hmmmm - it does look like the volume is improving while we are at these lower levels, so I guess we have even more desperate sellers coming in.

Audrey

 

[Dawg52]

I can't wait for the DOW to get back to 14,000 and look back at all this.

I'm not sure I will see it again in my lifetime. Oh well, life is still good. Took my dog on a long walk this morning. Beautiful morning too. And I have not turned on CNBC at all. Don't plan to ever watch it again.

I just ran my numbers through FireCalc and I'm still at a 100% success rate. That's also assuming the the DOW will drop another 3,500 points from here. I also projected SS being cut 25%. Hopefully that won't happen but I'm 8 years away so anything is possible.

Doom and gloom, don't you love it?

 

[retire@40]

I'm not sure I will see it again in my lifetime.

You must be in your mid eighties then.

 

[Dawg52]

You must be in your mid eighties then.

Nope.

 

[cute fuzzy bunny]

I think he's just planning on shooting himself by next week if this continues

Good news though...it might get you out of your mortgage.

 

[laurence]

Once again we have an event that let's us truly know if we are comfortable with our risk level.

Dow is down 30% for the year. In 1929 it started a drop that eventually led to an 89% reduction in value. But if you take out the last month I think it's only barely in Bear territory. The time horizon is too short to call a trend. Stay strong, distribution phas-ers!

 

[Martha]

Dawg52 was 52, but aren't you 53 by now? I know I am.

I feel the same way, no CNBC for me. And although we have several years of cash, I don't feel to inclined to invest any cash. What if we need it?

 

[Dawg52]

I think he's just planning on shooting himself by next week if this continues

Good news though...it might get you out of your mortgage.

No mortgage. And if I tried shooting myself, I would miss. Notice my new avatar?

 

[Dawg52]

Dawg52 was 52, but aren't you 53 by now? I know I am.

I feel the same way, no CNBC for me. And although we have several years of cash, I don't feel to inclined to invest any cash. What if we need it?

54.

 

[Martha]

Ha Ha, I am not 54 until January 1!

Do you want me to change your screen name?

 

[Dawg52]

Ha Ha, I am not 54 until January 1!

Do you want me to change your screen name?

Yeah....go ahead.

 

[oma]

I vow not to look at the bottom line of my portfolio until the market starts to recover -

 

[Moemg]

I feel the same way, no CNBC for me. And although we have several years of cash, I don't feel to inclined to invest any cash. What if we need it?

I am also avoiding CNBC . I have several years in cash , a complete chick flick collection , a good book and some chocolate so I'm golden .

 

[bbbamI]

Hmm, think I'll go on vacation. Uh wait, I am on one...more or less.