The DOW's reaction to the "bailout"

[jsledder]

No where near the reaction it had when it didn't pass. Watching the numbers on monday it sank like a rock. Watching the numbers today while they were announcing it, they sank as well but so far not into negative numbers, as they were announcin it the Dow was at +400 or so and a few minutes into the announcment it had dropped to around +80.

 

[Diesel99]

The wall street pigmen know the bailout won't do anything to help profits and future earnings, we are in for a long recesion period.
Any rallies on the stock market will be sold into, we will get new lower lows and lower highs till the Dow hits around 7500 and a probable bottom.
Still time to get your SDS ultra shorts as the SP 500 has still a long way to fall.

 

[Supplicate]

we are so screwed.

 

[anziconda]

I believe only wall street is relieved about this bailout. The stock market isn't going to improve because the vast majority of americans strongly oppose this.

 

[bonz50]

after the initial drop of 700+ pts the other day the market knew if was going to happen and it has already been figured in... what? did you expect a 1000 pt day or somethin?? aint gonna happen... the bailout is already accounted for

 

[Diesel99]

Dow broken through 10,000 and back to 1999 levels, stocks always go up ?
What a freaking scam

 

[SoDakCat]

Ya it sitting at 500 in the red so far today. Not looking to favorable for the short term here either. I wonder how long it will take to blow the bailout money by some of these firms (if they are still around to see any of it get to them).

I think Im going to give it a month to see how low this thing can go before I start jumping in to buy any. Its nice being young and just getting in now, suck for all the mom and pops that just lost their a$$ in it though.

Insead of stock brokers jumping off from building in the 30's you think we could start throwing CEO's off this time???

 

[Ollie]

This is the stock market correction we have been discussing for 5 years on here.
The market went nuts and should be at about 11,000 now. It will get back up there. It is still correcting. If they had done nothing it would have been worse, but not much worse.

The main problem was the banks were going to go under because of the caustic loans they made. I still think we should have let me sink. It would have been cheaper to pay out the insurance to the people whose bank closed than to bail out the banks themselves.

 

[Weekday Warrior]

should I do anything with my 401k?

I got it all in the highrisk stuff, frame of mind being I'm gaining TONS of shares, my share count is going crazy (buying about $2500 worth per month) even though my dollar amount is going down, kinda.. I'm contributing $2500 and loosing $1500 so my dollar is going up overall.

I've 20 years to retirement, hoping during this reccession I can gain huge amounts of shares then once the market come back up I'll be a rich man


sound good?

 

[MTdream]

should I do anything with my 401k?

I got it all in the highrisk stuff, frame of mind being I'm gaining TONS of shares, my share count is going crazy (buying about $2500 worth per month) even though my dollar amount is going down, kinda.. I'm contributing $2500 and loosing $1500 so my dollar is going up overall.

I've 20 years to retirement, hoping during this reccession I can gain huge amounts of shares then once the market come back up I'll be a rich man


sound good?

worst thing you can do at this point is panic...best thing to do is hang on...dont know what your disbursements/balance is but that is abotu the only thing to potentially look at...for me, I made a big change a few years ago and started putting a large portion of it into Gold...

 

[Ollie]

worst thing you can do at this point is panic...best thing to do is hang on...

I agree 100%.
My 401k went down from 90k to 79k. I think it will get back up there by may or so. If you jump now you will have hit bottom and not be able to ride the wave back up.

 

[modsledr]

should I do anything with my 401k?

I got it all in the highrisk stuff, frame of mind being I'm gaining TONS of shares, my share count is going crazy (buying about $2500 worth per month) even though my dollar amount is going down, kinda.. I'm contributing $2500 and loosing $1500 so my dollar is going up overall.

I've 20 years to retirement, hoping during this reccession I can gain huge amounts of shares then once the market come back up I'll be a rich man

sound good?

Good philosophy...as long as you're buying into companies that will be around for the long haul.

You might also consider buying real estate...there are unreal bargains out there right now. The rental market is only going to get stronger, as more people who shouldn't be home owners have to go back to being renters.

 

[justadude]

that is like 12% you are lucky!!!
As of today, I am off 23.9%

I agree 100%.
My 401k went down from 90k to 79k. I think it will get back up there by may or so. If you jump now you will have hit bottom and not be able to ride the wave back up.

 

[modsledr]

......The main problem was the banks were going to go under because of the caustic loans they made. I still think we should have let me sink. It would have been cheaper to pay out the insurance to the people whose bank closed than to bail out the banks themselves.

The reality is that the weakest banks/lenders are already going under (and being bought out by the larger, stronger banks).

I dont look at this as a rescue for the weaker banks as much as its a way for ALL the banks to reorganize their mortgage debt and get back to lending.

The economic machine depends on lending between banks and to corporations (always has, always will) and right now the machine has ground to a halt. If corporations cant sell their "corporate paper" (short term debt) then they cant function...they use this debt for things like payroll and day to day operations.

This isn't so much about rescuing banks as it is about returning some stability to the banking system. Its not going to happen overnight, but hopefully this will speed things up.

 

[mulestar]

My thoughts on a 401k, and check me if I am wrong, I plan on leaving it alone. I have already taken a hit on that and on some investments I made, especially my own investment. I feel I have already lost a good amount of money that I will not get back by getting scared and pulling out, I just hope it comes back up to what it was.

I honestly havent even looked at my 401k, I am invested mostly in investment groups and I hope they are buying, so if it comes back we can make big money, and if it dont, screw it, I will be in the same boat as I am now and the rest of the country. I would be p/offed if I backed out and everybody else made a bunch of cash when the market came back up.

I am actually hoping that somebody will come on here and tell me I am right or wrong, cause this is fairly new to me too.

Thoughts??

 

[Wolfrun]

I have now taken a loss of 80,000 or so. Don't think I wouldn't like to have Barney Frank and Chuck Schumer here for a little while. I think the only thing to do is hang on and hope it bottoms sooner than later. It will come back eventually but for God's don't anybody vote for that SOB Obama. That would really cook our sauce. Just hang on Guys.

 

[Diesel99]

SDS ultrashort great way to hedge your 401k. I am up over $40,000 since last year and I think there is room for some more profits. I am out when the dow hits 7500 or the SP hits 900.

 

[ArcticBoy]

It's down over 725 now. Must be a reaction to the Obama bump in the polls. That's using their own reasoning. Something must be driving it down because it couldn't be the bailout. I mean Barney told me we had to do this. What a piece of crapp!! I guess I'm gonna vote Dem declare that I'm a gay illegal immigrant Muslum and apply for federal assistance. He!! I've already took it in the pipe lately anyway. Edit...down 770

 

[x-guy]

TSX was down 1100 points out of the gate today, currently down 974, in case anyone was curious what other markets are doing, thats 30% in a matter of a couple months. This sucks, about the only option left now is to hold on and see what I am left with when the smoke clears.

 

[ArcticBoy]

^^^^Hope it aint just ashes^^^^