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Old 07-12-2008, 08:28 AM   #81
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Originally Posted by Midpack View Post
In every market, there will be very convincing articles/broadcasts advocating selling and others just as convincing it's a good time to buy. And most of them are driven first by getting your attention, the content is secondary even if sincere. I'm staying the course, same as I have done since I began investing in late 1987, and my net worth is twice what I ever thought it would be even with the recent decline. YMMV...
Sure. Some of their "calls" cater to deep value investors, while others cater to fear. It depends on which audience you are trying to reach. Some folks salivate at the thought of backing up the truck at fire sale prices, while others can't get rid of everything soon enough.
"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 07-12-2008, 09:31 AM   #82
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Originally Posted by 2B View Post
I hate to bring up one of my "can't miss" indicators but one of the radio financial guys said Friday that he sees a major market turnaround. There are several I hear at various times and in the last month they all became hyper-bears (since the market was already dropping). They are always wrong in predicting what will happen and merrily switch sides when the market turns. They then spend lots of air time telling how they were ahead of the curve on this move and made lots of money for their clients. This guy going bullish doesn't bode well for the future although I don't think they other ones have switched back to bullish. Maybe a blind hog can find an acorn once in awhile.
While this guy is bullish, it seems the majority of financial pundits have turned extremely bearish. I can't remember such a level of pessimism. One of my favorite contrary indicators, a guy named Peter Schiff, predicted that the DOW index and the price of gold will reach equilibrium.
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Old 07-13-2008, 01:41 PM   #83
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Originally Posted by al_bundy View Post
it's only panic when Cramer blogs

"Get out, get out now" like he did in 1998 at the very moment the market turned around
Does this count?

Cramer: The Way Ahead Is Down -
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Old 07-13-2008, 02:02 PM   #84
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Originally Posted by Dawg52 View Post
What you guys bitching about? GE, KO, NM, all finished up today. STON finished flat. Let the dividends come to papa! Life is good.
SUP just paid out last week, too...

Originally Posted by newporttony View Post
I can't remember such a level of pessimism.
In which sensory-deprivation tank were you living during 2000-2002? Oct 1987? 1973-4?

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