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muchuckwagon
New member
I am surprised there has been no mention of the market decline....down 550 points to 8,700 and GM is at its lowest point since 1950.
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OT: Elephant in the room!
- Thread starter muchuckwagon
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autocut
Active member
muchuckwagon said:
Even with all of that said, gas prices are still up. Price fixing definately.
Austin
Well-known member
You just joined yesterday, but there have been a bunch of stock market posts on this board over the past two weeks.muchuckwagon said:
Nice to have you on this board. It's always good to have some honest straightshooters who speak their mind like you did on Beckett.
Great avatar, by the way. Bucky!
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- #4
muchuckwagon
New member
autocut said:
Gas is down to $2.99 in Columbus, Ohio. You also have to take into consideration refining constraints when talking about gas prices. However, I do agree that prices jump much faster than they decline.
Frow
New member
Gas has dropped to $2.67 here....guess I shouldn't hope for $0.99 gas again or that means the economy is really in the shi....errr outhouse.
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- #7
muchuckwagon
New member
Frow said:
While that would be nice, I am sure OPEC will cut production in an effort to stablize prices and curb the decline.
The research I did and talking to some folks i trust, we thought the bottom for the dow was going to be around 8300 but that may still be too high. Anyway, whatever the bottom is, when it comes, its time to buy in because there is going to be quite a bounce off of that number. This really depends on your tolerance for risk and being able to be long.
The bottom line here is if you need your money in the next year or two, the stock market is not for you.
Also, ince to see you made it MU!
The bottom line here is if you need your money in the next year or two, the stock market is not for you.
Also, ince to see you made it MU!
autocut
Active member
Frow said:
It's still $3.39/gallon here.
Austin
Well-known member
About $3.85 here on Oahu. :evil:
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- #11
muchuckwagon
New member
phillyfan0417 said:
Thanks...I have been around from time-to-time, stalking everyone.
I moved a large % of my 401k out of stocks months ago and have been buying back in very slowly a little at a time. Over the past two days, I have pushed the last 50% of my 401k back into stocks...I am in stocks 100% as of the close today.
I really thought the bottom was 9,600ish....breaking below 9,000 was a shock to say the least.
muchuckwagon said:
8300 was my guess but one more piece of bad news and we could hit 8k pretty easily...
autocut
Active member
Well, even after all of the economic downfalls, I am still at 8.6%. I've seen employees as low as -65%. They always tell people they losing their shirts. Majority are ones who invested in the Brazil market.
crowhop
New member
Bingo!slopho said:
I've had my 401k at the basic interest rate since January, so my losses have been nil. When it finally bottoms out, I am going to put it all into full-on buy mode.
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- #17
muchuckwagon
New member
lordsepic said:
I would normally say that you are on crack....but anything is possible. However, I don't see that happening at all.
muchuckwagon said:
I assure you I am not on crack
... and I understand most people not seeing this happen but I am saying 7200 bottom out... I do of course see up days here and there but things are only going to get worse before they get better. People have little faith and have shown great panic the past 2 weeks and that will continue to cause issues more over the next couple months.- Thread starter
- #20
muchuckwagon
New member
lordsepic said:
I think the market is oversold....as noted above, the futures are down and the open will not be pretty. However, there comes a point when people see value in the blue chips and money pours into solid companies that have been beaten down unfairly.
With this in mind, I think a big up tick is just around the corner...either today or early next week that will keep us from dropping below 7,500.
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