Wow - DOW 10,000 again

[W2R]

I am going to watch CNBC and Cramer.

I don't normally, but it will be good for me to become a bit more hardened to their scare tactics. Besides, how can I deride them if I don't watch?

 

[audreyh1]

Besides, how can I deride them if I don't watch?

Great point!

Audrey

 

[eridanus]

I'm funding my 401k this week with more 2008 contributions. I am also trying to tell myself that losing my not-insubstantial trading account isn't a tragedy. After all, most of the gains were from outsized returns - easy come, easy go. :/

 

[ziggy29]

I'm funding my 401k this week with more 2008 contributions. I am also trying to tell myself that losing my not-insubstantial trading account isn't a tragedy. After all, most of the gains were from outsized returns - easy come, easy go. :/

Well, I'm still about where I was at the end of 2004, so it's not all of the 2003-07 gains are gone...

 

[unclemick]

Perhaps I should point out for those with nerves of steel:

The Saint's play the Vik's tonight on Monday Night Football - live from the Superdome.

The Saint's 4th qtr often scares me more than Mr Market.

heh heh heh - No computer driven auto rebalance in football. .

 

[ziggy29]

The Saint's 4th qtr often scares me more than Mr Market.

If that scares you, you would have been scared witless by the Texans' final five minutes against Indy. Talk about giving one away. Sad thing is, it's only the *second* worst collapse in the history of Houston pro football.

 

[Zoocat]

I think there is good reason to have some fear in this economic climate. The housing bubble and the stock market run up occurred in unison-- both built on debt and credit bubble? That's a debate for another thread. But, you know, the DOW began this run up about in 1995 at about 4000. The previous decade was almost flat. This statistic certainly gives me pause.

 

[Dawg52]

The Saint's play the Vik's tonight on Monday Night Football - live from the Superdome.

I pull for the Saints. I'll let you figure out who to bet on.

 

[laurence]

Dow has bounced back, which almost disappoints me. I was hoping to get the capitulation over with and behind us.

 

[Dawg52]

Dow has bounced back, which almost disappoints me. I was hoping to get the capitulation over with and behind us.

Nah, not me. I won't a slow and steady death. Time for a beer run.

 

[ziggy29]

Dow has bounced back, which almost disappoints me. I was hoping to get the capitulation over with and behind us.

Actually, "capitulation" usually does happen mid-day. I'm just not sure we saw the volume to claim it.

 

[chinaco]

Its been brutal! Could get worse.

 

[Milton]

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.

Which is essentially what has been happening in the real estate market ... and what will soon happen in the secondhand market for [-]toys[/-] non-essential chattels (boats, airplanes, sports cars, big-screen televisions, etc.).

 

[IBWino]

Saw this a article bit ago:

Did Cramer cause today's market drop?

Pretty funny; maybe capitulation really is near.

The host of CNBC's "Mad Money" went on the Today show Monday and told investors to get out.

"Whatever money you may need for the next five years, please take it out of the stock market right now, this week," he said. "I do not believe that you should risk those assets in the stock market right now.”

Cramer is predicting that the market could fall by as much as 20%. If you can hold off and leave your money in place for the long term, he said, then ride it out. But he's worried about the short-term fallout.

 

[al_bundy]

means the bottom is in

i read his autobiography and as soon as cramer ran for cover in 1987 and 1998 the market hit bottom

 

[al_bundy]

Actually, "capitulation" usually does happen mid-day. I'm just not sure we saw the volume to claim it.

ECB came out and hinted they will cut rates. just like 1998

 

[Dawg52]

Saw this a article bit ago:

Did Cramer cause today's market drop?

Pretty funny; maybe capitulation really is near.

The host of CNBC's "Mad Money" went on the Today show Monday and told investors to get out.

"Whatever money you may need for the next five years, please take it out of the stock market right now, this week," he said. "I do not believe that you should risk those assets in the stock market right now.”

Cramer is predicting that the market could fall by as much as 20%. If you can hold off and leave your money in place for the long term, he said, then ride it out. But he's worried about the short-term fallout.

A little late, but I understand what he is saying. If you have plenty of cash or income to work with for the next few years, stay in. That has been my thinking, although I wish I had gone to 100% cd's last fall. But that's easy to say now.

 

[Nords]

I am going to watch CNBC and Cramer.
I don't normally, but it will be good for me to become a bit more hardened to their scare tactics. Besides, how can I deride them if I don't watch?

I've never watched Cramer, but that doesn't make me feel a bit guilty about deriding him!

 

[Gardnr]

Saw this a article bit ago:

Did Cramer cause today's market drop?

Pretty funny; maybe capitulation really is near.

...
"Whatever money you may need for the next five years, please take it out of the stock market right now, this week," he said. "I do not believe that you should risk those assets in the stock market right now.”...

Well all I can say is, Duh!!! I mean really, anybody who has any kind of sense and reads/listens to any kind of good advice knows that you shouldn't have that money (i.e. short term) in the market. And anybody who still has that money in the market at this point is just a fool. Thanks for the wonderful advice Cramer!

Was he telling people a couple months ago (or one year ago for that matter) to keep that kind of short term money in the market? Who listens to this blowhard anyway?

 

[CompoundInterestFan]

means the bottom is in

i read his autobiography and as soon as cramer ran for cover in 1987 and 1998 the market hit bottom

Did I miss the sarcasm? Or are you suggesting that 1) he's claiming that he identified the bottom in 87 and 98, and 2) that past performance is a guarantee of future results?

 

[youbet]

A little late, but I understand what he is saying. If you have plenty of cash or income to work with for the next few years, stay in. That has been my thinking, although I wish I had gone to 100% cd's last fall. But that's easy to say now.

Didn't you opt for the "do-over" option with your brokerage account? It's really handy not having to get it right the first time!

 

[cute fuzzy bunny]

he identified the bottom in 87 and 98

Having mistakenly followed Cramer in 98, I can say with some certainty that he was screaming for everyone to get out in 98 right around the time things turned around.

Pretty much "nothing works, this market is awful, get out".

 

[Hal3]

Plunge Protection Team

Every stock thats sold is being bought by somebody right

Maybe these guys are the only buyers:

The Washington Independent » The Plunge Protection Team

 

[Retire Soon]

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

I had been wondering the exact same thing. You've made a very valid point!

 

[TromboneAl]

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.

He's pulling your leg.