Yikes! S&P 500 goes under 1000!

audreyh1

audreyh1

Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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Never thought I'd see that again!

This is all so parabolic (happening so fast) that I'm hoping for a V bottom - knock on wood!

Audrey

P.S. Couldn't resist after the DOW 10,000 thread a couple days ago. Should have started this thread yesterday, but the S&P 500 just crossed that line in the last few minutes of trading.
 
What? No comments? Is it just too depressing?

Just talking amongst myself here.... ;)

Audrey
 
Catch a falling knife and put it in my pocket, save it for a rainy day. Bought some more Bank of America nice and early this morning. Sheesh. then watched the DOW go under 9400. How loooow can we go!
 
I guess I'm just looking for the Oct 2002 lows. I don't think the Nasdaq quite made it down to 1000. If the 2002 lows happen again (ouch!), I plan to fire my final bullets (final rebalance). Lets see if I'm brave enough to do it! I don't really want to see us get there though!

But this is all so crazy. Equity markets are now at the lows of the 1998 global financial crisis, and that was a year before I retired 9 years ago!

Audrey
 
S&P 500 sliced through 950 (a major support level going back a decade) like a hot knife through butter. Closed below 910 today. I guess it's trying to get to 800 (the 2002 low).

Audrey
 
Good. I've always wished I'd bought more in 2002 when it was 800.

Who says life isnt full of second chances?
 
audreyh1 said:
I guess I'm just looking for the Oct 2002 lows. I don't think the Nasdaq quite made it down to 1000. If the 2002 lows happen again (ouch!), I plan to fire my final bullets (final rebalance). Lets see if I'm brave enough to do it! I don't really want to see us get there though!

But this is all so crazy. Equity markets are now at the lows of the 1998 global financial crisis, and that was a year before I retired 9 years ago!

Audrey
Click to expand...

I'm with you. Not on the rebalancing. I have some cash available to invest. I'm thinking high yield bonds, small cap, Wellesly and maybe foreign stocks.

I think there are some unknown (at this time) investing strategy unwinding at this time - hedge funds:confused:
 
dex said:
I think there are some unknown (at this time) investing strategy unwinding at this time - hedge funds:confused:
Click to expand...
I think hedgies and other major institutions are desperately trying to deleverage. And until they are done, it's more of the same...
 
Yes, I've pretty much psychologically prepared myself at the end of last month for there to be very heavy selling in Q4 2008 due to hedge fund redemptions. I also thought it might be frontloaded to occur mostly in October.

Still - the viciousness has been incredible! I never imagined seeing the VIX hit 65! Or to have a week like this!

Audrey
 
Lusitan said:
This market would be much more depressing without you guys. :D
Click to expand...

Hey, whats the big deal.

If you have a good plan, theres nothing to worry about. If you didnt have a good plan, at least you'll know now what to do differently after things sort themselves out.

Despite all the hoo hah going on, and people in the financial business losing their shirts...most US companies arent financials and many are doing okay. Once the economy gets going again so will everything else.

My plan is fine. We're down six figures big. My wife is still working part time bringing in a few bucks and covering our health care with no chance of losing the job. We have a years expenses in cash. We have 3 years expenses in 6.25% cd's. Our funds will keep paying out dividends that are also enough to live on comfortably. No mortgage or other debt to worry about.

This too shall pass. My only regret is that I dont have a bunch of cash to bring to bear on this fire sale.
 
The painful thing is watching that much money just evaporate . I could have bought an island condo somewhere with a hot pool boy !
 
Hey, you still can. The island may just move around a little from time to time after a storm, and the pool boy will be 95.
 
73ss454 said:
Thanks CFB, I needed that. Now I hope you're right.
Click to expand...

Thanks from me, too! My portfolio is also down by six figures plus. I recently rebalanced my holdings and believe that I'm in the right investments for the long run. FIRECalc tells me that I'm still ok. I have to keep reminding myself that these terrible declines are all on paper only as I'm not drawing from my portfolio at all and don't expect to do so for at least three years out. I have a non-COLAd pension that covers about 60% of our expenses and DH's business income covers the rest. We do have enough cash/CDs/savings bonds set aside that could cover two years' expenses if the bottom fell out of everything....

But still, despite the fact that I am generally a very optimistic person, this week has my stomach churning.

I know that this too will pass, but still.......
 
cute fuzzy bunny said:
Hey, whats the big deal.

If you have a good plan, theres nothing to worry about. If you didnt have a good plan, at least you'll know now what to do differently after things sort themselves out.

Despite all the hoo hah going on, and people in the financial business losing their shirts...most US companies arent financials and many are doing okay. Once the economy gets going again so will everything else.

My plan is fine. We're down six figures big. My wife is still working part time bringing in a few bucks and covering our health care with no chance of losing the job. We have a years expenses in cash. We have 3 years expenses in 6.25% cd's. Our funds will keep paying out dividends that are also enough to live on comfortably. No mortgage or other debt to worry about.

This too shall pass. My only regret is that I dont have a bunch of cash to bring to bear on this fire sale.
Click to expand...


"Breathes there a man so small he cannot face the troubles of another like a good Christian"? Given that our entire stock portfolio is worth maybe a year or two of retirement annual spendings we are facing this kerfuffle with equanimity and good spirits. Now if our health insurance gets pulled away, or all the renters move out or stiff us for the rent, or our Chinese overlords call their loans and take the US as a package trade for what we owe - those things could affect us a bunch. Do notice that our property we listed with a realtor hasn't gone away yet, which means we have to keep being lanlords.....
 
Was thinking of transferring my bond fun (G fund in the TSP) into the S&P fund (C fund). Sort of buying LOW. It was 15% or so of entire portfolio, now just a tad over 22%.
 
I bought some Vanguard Total Stock Market today at 2 minutes before closing. Wow, that was some discount! Does anyone happen to know when the sale is supposed to be over?
 
Retire Soon said:
I bought some Vanguard Total Stock Market today at 2 minutes before closing. Wow, that was some discount! Does anyone happen to know when the sale is supposed to be over?
Click to expand...

I don't thinik you need to rush in. This sale may be here a while and they may need to drop prices further to bring in the buyers.
 
Just did a quick check and rate of return since ER December 2002 is still positive (5.6%/year) So I guess ER is still on but losses in the big 6 figures certainly got me crosseyed:eek:
 
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