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11-13-2008, 11:50 AM
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#241
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Full time employment: Posting here.
Join Date: Mar 2006
Posts: 757
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My broker yesterday stated that he doesn't think things could go below 7200---something about the companies being valued exactly at their amount (their assets like buildings). We will see if his MBA in economics results in an accurate prediction!
I was trying to google 7200 and stumbled upon an article from May 5, 1997 that said the Dow set a new record: 7200! What a difference eleven years can make: jubilant at 7200, despondent at 7200.
__________________
“It is not a sign of good health to be well adjusted to a sick society”.------Krishnamurti
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11-13-2008, 11:59 AM
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#242
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Recycles dryer sheets
Join Date: Sep 2006
Posts: 312
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Gotadimple: Thanks, I read the testimony.
The source of his "this time it's different" scenario is the explosion of credit that started decades ago, causing a "super bubble" that by turns engulfed and inflamed all other facets of financial life.
I view this as a somewhat similar argument to the gold and bullets crowd's denouncement of our fall off the gold standard. But there's no going back now, either to gold or to life before credit. We will not be back to "ninja loans" any time in the next 30 years, but we will be back to life as we view as normal one day. Indeed, the Fed is now focused on pumping credit back into consumer hands by any means necessary.
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11-13-2008, 12:03 PM
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#243
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Recycles dryer sheets
Join Date: Sep 2006
Posts: 312
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Culture, just because everyone is selling a stock and no one is buying, hence the price of the stock goes down, it does not mean that the company is going bankrupt. The health of a company and the price of its stock as traded publicly can be (and often is) entirely disconnected.
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11-13-2008, 12:08 PM
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#244
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Recycles dryer sheets
Join Date: Apr 2007
Posts: 491
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Quote:
Originally Posted by Grep
Culture, just because everyone is selling a stock and no one is buying, hence the price of the stock goes down, it does not mean that the company is going bankrupt. The health of a company and the price of its stock as traded publicly can be (and often is) entirely disconnected.
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Grep,
Certainly correct. What I was jokingly referring to is that if the market keeps falling, eventually everyone will go out of business because it takes customers to stay in business.
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11-13-2008, 12:11 PM
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#245
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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market is up
good chance this was finally the bottom, and i'm dumping one of my idiot newsletters this week
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11-13-2008, 12:25 PM
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#246
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Thinks s/he gets paid by the post
Join Date: Nov 2006
Posts: 2,288
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Quote:
Originally Posted by Steve O
I fear it really is different this time
Dow just went under the closing low on Oct. 10
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And bounced off of it like a rubber ball.
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11-13-2008, 01:13 PM
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#247
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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will probably check up on Dow Theory
Dow made a new closing low, but not intraday low. wonder if that's enough based on historical record or if it needs to make a new intraday low
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11-13-2008, 02:02 PM
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#248
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Recycles dryer sheets
Join Date: May 2007
Posts: 444
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So was the bottom today at about 1:45 pm??
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11-13-2008, 02:08 PM
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#249
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 9,067
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Up 550 today. Incredible. I'm glad I was out playing golf and didn't see it dip below 8,000.
__________________
Retired 3/31/2007@52
Investing style: Full time wuss.
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11-13-2008, 02:09 PM
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#250
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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Just means it will go down 600 tomorrow.
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11-13-2008, 02:20 PM
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#251
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Quote:
Originally Posted by novaman
So was the bottom today at about 1:45 pm??
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That was right about when I was buying some BRKB at 3155 and some GE at about 14.70...
__________________
"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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11-13-2008, 02:56 PM
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#252
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Recycles dryer sheets
Join Date: May 2007
Posts: 444
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Quote:
Originally Posted by ziggy29
That was right about when I was buying some BRKB at 3155 and some GE at about 14.70...
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OK Ziggy- Next time, you need to tell me when its time to buy!
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11-13-2008, 02:59 PM
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#253
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2006
Posts: 12,483
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Quote:
Originally Posted by novaman
OK Ziggy- Next time, you need to tell me when its time to buy!
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Unless he's buying oil........
__________________
Consult with your own advisor or representative. My thoughts should not be construed as investment advice. Past performance is no guarantee of future results (love that one).......:)
This Thread is USELESS without pics.........:)
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11-13-2008, 03:45 PM
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#254
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2005
Location: North Oregon Coast
Posts: 16,483
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Actually, he'd still want to know that -- in order to short it...
__________________
"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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11-13-2008, 04:02 PM
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#255
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Thinks s/he gets paid by the post
Join Date: Sep 2008
Posts: 2,171
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Quote:
Originally Posted by Grep
Gotadimple: Thanks, I read the testimony.
The source of his "this time it's different" scenario is the explosion of credit that started decades ago, causing a "super bubble" that by turns engulfed and inflamed all other facets of financial life.
I view this as a somewhat similar argument to the gold and bullets crowd's denouncement of our fall off the gold standard. But there's no going back now, either to gold or to life before credit. We will not be back to "ninja loans" any time in the next 30 years, but we will be back to life as we view as normal one day. Indeed, the Fed is now focused on pumping credit back into consumer hands by any means necessary.
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What is a "ninja loan"?
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11-13-2008, 04:04 PM
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#256
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Thinks s/he gets paid by the post
Join Date: Sep 2008
Posts: 2,171
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I for one hope it was a rubber ball, and not a dead cat!
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11-13-2008, 04:12 PM
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#257
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Moderator Emeritus
Join Date: Sep 2007
Posts: 17,773
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Quote:
Originally Posted by kyounge1956
What is a "ninja loan"?
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from wikipedia
A Ninja Loan is a type of subprime loan issued to borrowers with No Income, No Job, (and) no Assets. The phrase was coined by HCL Finance during the housing bubble of the 2000s but have gained wider notoriety due to the subprime mortgage crisis in July/August 2007 as a prime example of poor lending practices. The term grew in usage during the 2008 financial crisis as the sub prime mortgage crisis was blamed on such loans. It works on two levels - as an acronym; and allusion to the fact that ninja loans are often defaulted on, with the borrower disappearing like a ninja. as a name for one of their finance product.
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11-13-2008, 07:15 PM
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#258
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by Grep
Culture, just because everyone is selling a stock and no one is buying, hence the price of the stock goes down, it does not mean that the company is going bankrupt.
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If everyone is selling a stock, and no one is buying, who is everyone selling their stock to?
ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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11-13-2008, 07:57 PM
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#259
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Full time employment: Posting here.
Join Date: Jul 2008
Posts: 622
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Quote:
Originally Posted by haha
If everyone is selling a stock, and no one is buying, who is everyone selling their stock to?
ha
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People on the losing end of short deals?
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11-13-2008, 09:14 PM
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#260
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
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Quote:
Originally Posted by al_bundy
market is up
good chance this was finally the bottom, and i'm dumping one of my idiot newsletters this week
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Finally I see an action that will probably result in profit!
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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