Guest Posted August 8, 2011 Report Share Posted August 8, 2011 http://finance.yahoo.com/news/US-markets-fall-sharply-after-apf-1960115615.html?x=0 Looks like world wide they take the down of US credit rating serious and stocks are being dumped. Not good. What you guys think? Link to comment Share on other sites More sharing options...
UlrichWolf88 Posted August 8, 2011 Report Share Posted August 8, 2011 It's somewhat of an unprecendented move, Lou......so, we'll have to see. The way futures and oil are dropping, it may wind up working out for the little man FOR A LITTLE WHILE. Prices will fall for a bit, then as the currency becomes MORE worthless, we will see more inflation. I do see one good thing about it....I'bet Wall Street takes a bath, and they have needed to for a long time. Welcome to WalMart, ladies! Tim Link to comment Share on other sites More sharing options...
jisleyjr Posted August 8, 2011 Report Share Posted August 8, 2011 It hurts, but i am buying in small portions and will continue to. The mistake i made in 08-09 was that i rode it all the way down and sold off as i went taking a loss when i should have been buying here and there. Link to comment Share on other sites More sharing options...
chiplee Posted August 8, 2011 Report Share Posted August 8, 2011 This sell off rocks. Without it I would have been stuck in cash forever. Just try to be like Buffet. If everybody's selling? Buy Buy Buy!!! Everybody's buying? Sell Sell Sell!!! I've been slowly moving to cash all year and made it to about 80% cash by the time this correction started. I've been scaling in on the way down. If you have money in a brokerage account ready to go it's time to start moving money, I recommend the following stocks, TNA, GMO, FAS, AKAM, NLY. All very high risk, meaning all very high potential reward. Link to comment Share on other sites More sharing options...
Truth Posted August 8, 2011 Report Share Posted August 8, 2011 I am embarrassed to say that I know very little about the stock market. Link to comment Share on other sites More sharing options...
chiplee Posted August 8, 2011 Report Share Posted August 8, 2011 I am embarrassed to say that I know very little about the stock market. I don't think too many people know much about the stock market. Link to comment Share on other sites More sharing options...
TopDawg_43 Posted August 8, 2011 Report Share Posted August 8, 2011 i just hope the price of gas goes down. Link to comment Share on other sites More sharing options...
IntercooledFlatty Posted August 8, 2011 Report Share Posted August 8, 2011 loks like my 401k will drop to a 6 digit figure Link to comment Share on other sites More sharing options...
Burton Posted August 8, 2011 Report Share Posted August 8, 2011 I don't know much about the stock market either , but I understand enough about finances to know that if our credit rating as a whole country has been lowered and we keep printing money to fix budget problems, our dollar will be worthless soon. That will be bad for any US based company or person, and since we're the savior to other countries, everyone is gonna run scared. Eventually it won't matter what the stock market is doing... If the money trading hands isn't worth jack shizzle, then the whole stock market will suffer. We stock up on precious metals with what extra money we have, and also put money towards making ourselves more self-sufficent. Once we can clean and store our own water, and make our own electricity, we won't be too worried about things turning to a Mad Max type scenerio. If we can provide all that and food for ourselves we won't need dollars wether they're worth a ton or not worth the paper it's printed on. Of course, TX will seceed from the US before it will let itself get drug down by the rest of the country. Link to comment Share on other sites More sharing options...
Caliber308 Posted August 9, 2011 Report Share Posted August 9, 2011 I've lost a few bucks on profits.....You have to be in the market "long term" to see any meaningful gains Bill Link to comment Share on other sites More sharing options...
Ratmtattat Posted August 9, 2011 Report Share Posted August 9, 2011 A lot of this could have been avoided if a better compromise could have been reached. The one that we got is weak and won't do squat to help out with the debt. The S&P report all but names Republicans as the reason for why they downgraded the US to a AA credit rating. Link to comment Share on other sites More sharing options...
Shelby Posted August 9, 2011 Report Share Posted August 9, 2011 (edited) i got a question how do you loose 7trillion in one day ,, was it real money or speculationand another if Iraq paid their war debt to us we'd have no debt while i'm at it any one know what Hitler call'd the SS troups before hey were SS HOME LAND SCURITY Edited August 9, 2011 by Shelby Link to comment Share on other sites More sharing options...
83TechMaster Posted August 9, 2011 Report Share Posted August 9, 2011 This sell off rocks. Without it I would have been stuck in cash forever. Just try to be like Buffet. If everybody's selling? Buy Buy Buy!!! Everybody's buying? Sell Sell Sell!!! I've been slowly moving to cash all year and made it to about 80% cash by the time this correction started. I've been scaling in on the way down. If you have money in a brokerage account ready to go it's time to start moving money, I recommend the following stocks, TNA, GMO, FAS, AKAM, NLY. All very high risk, meaning all very high potential reward. CIM is a good one too... I've been buying all the way down. Hope it works out :-) Link to comment Share on other sites More sharing options...
chiplee Posted August 9, 2011 Report Share Posted August 9, 2011 (edited) CIM is a good one too... I've been buying all the way down. Hope it works out :-) Yeah Chimera scares me. Actually anything with a 15+% dividend yield should scare people. If it takes a 15% yield to get investors to hold your stock you know you're high risk, but this sell off should be crazy bullish for REITs. As long as the economy is slow, the FED has no choice but to keep rates low, and as long as rates are low, REITs are raking in huge profits. If and when the economy becomes self sustaining enough for the FED to tighten monetary policy, get out of NLY and CIM in a hurry. Futures are climbing tonight. Up roughly a percent right now. Were down nearly 3% earlier. Could be a pipe dream but I'm hoping the bottom was put in today. The market has come in to pre QE2 levels, so I honestly believe earnings can support current levels on their own. Wouldn't be surprised to hear there'll be a QE3 though. If that happens I'm backing up the truck on TNA. Down to $38 from $90? Unbelievable. Edited August 9, 2011 by chiplee Link to comment Share on other sites More sharing options...
chiplee Posted August 9, 2011 Report Share Posted August 9, 2011 make that 2.5% on the futures. They're soaring. Hope it holds up. Let's have a 5% point short covering rally. Link to comment Share on other sites More sharing options...
chiplee Posted August 9, 2011 Report Share Posted August 9, 2011 (edited) i got a question how do you loose 7trillion in one day ,, was it real money or speculationand another if Iraq paid their war debt to us we'd have no debt while i'm at it any one know what Hitler call'd the SS troups before hey were SS HOME LAND SCURITY I didn't see anything in the article about $7T lost in one day. Did I miss it or were you talking about something else? I'd be surprised if the loss in the U.S. equity markets over the last month equaled $7T. In the collapse of '08 the total market capitalization of all publicly traded companies in the world dropped from $57.5 trillion to $40 trillion, but it took from May to September. $7 trillion doesn't disappear in one day, from anywhere. Equity prices are determined by simple supply and demand. When sellers overcome buyers price action is to the down side. Obviously $7 Trillion isn't "gone" no matter how long it took to be erased from the valuations of companies. It's just been moved to cash. Some people lost money. Some people made money. Markets are really better at transferring money from dumb people to smart people than anything else, or "unlucky people to lucky people" if you will. Oh and uh, 3% climb in equity index futures ATM. Edited August 9, 2011 by chiplee Link to comment Share on other sites More sharing options...
Shelby Posted August 9, 2011 Report Share Posted August 9, 2011 (edited) sorry wasn I didn't see anything in the article about $7T lost in one day. Did I miss it or were you talking about something else? I'd be surprised if the loss in the U.S. equity markets over the last month equaled $7T. In the collapse of '08 the total market capitalization of all publicly traded companies in the world dropped from $57.5 trillion to $40 trillion, but it took from May to September. $7 trillion doesn't disappear in one day, from anywhere. Equity prices are determined by simple supply and demand. When sellers overcome buyers price action is to the down side. Obviously $7 Trillion isn't "gone" no matter how long it took to be erased from the valuations of companies. It's just been moved to cash. Some people lost money. Some people made money. Markets are really better at transferring money from dumb people to smart people than anything else, or "unlucky people to lucky people" if you will. Oh and uh, 3% climb in equity index futures ATM. sorry it was 7 trill world wide scare head line , this sensationalizm head lineing is realy geting old , of course 7 trill did not vanish into thin air,, but they'd have you beleave that it did on the Iraq thing weren't they supose'd to pay us $90 mill a month , now $90 mill a month over 10.5 years would go a long way towards lowering our ND Edited August 9, 2011 by Shelby Link to comment Share on other sites More sharing options...
chiplee Posted August 9, 2011 Report Share Posted August 9, 2011 Let's have a 5% point short covering rally. ha! ask and ye shall receive I guess. 4 of my positions were up over 10% today. 3 up over 20% $$$ Link to comment Share on other sites More sharing options...
83TechMaster Posted August 9, 2011 Report Share Posted August 9, 2011 ha! ask and ye shall receive I guess. 4 of my positions were up over 10% today. 3 up over 20% $$$ Me too 7 positions for an average %11.5 gain not a bad day. Made back all the money I lost Friday and Monday plus a nice little profit... The question is what to do now. Link to comment Share on other sites More sharing options...
Guest Posted August 9, 2011 Report Share Posted August 9, 2011 I'm happy fuel has been on a decline the last couple weeks or so. I just saw diesel for below $4.00 a gallon, that's a big deal considering I paid nearly $5.00 earlier in the year. Those who have the ability to buy are taking advantage right now, it's a good time to buy, bad time to sell. Link to comment Share on other sites More sharing options...
chiplee Posted August 10, 2011 Report Share Posted August 10, 2011 (edited) Me too 7 positions for an average %11.5 gain not a bad day. Made back all the money I lost Friday and Monday plus a nice little profit... The question is what to do now. NLY just became a long term position in my account when the FED made the unbelievable move today to put a date on the "extended period" language. Rates will be exceptionally low until at least mid 2013 they said, so NLY will be dishing out huge dividends until at least mid 2013. At 15% yield who really cares what the stock price does? (within reason of course) Everything else I'll be setting trailing stops on tomorrow to see where this goes. I think we could put half the loss back on just as fast as it came off. Heard a commentator suggest on CNBC that through an ironic twist, the rush to quality caused by the sell off and the downgrade has driven bond yields low enough to almost be counted as a free QE3. US borrowing costs just plummeted. Pretty crazy idea, but it might be what the market sees. Hard to say, as usual. Edited August 10, 2011 by chiplee Link to comment Share on other sites More sharing options...
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