The Stock Market is Crashing

[Yota]

Dude the Dow is down 539 right now. We'll see if it rebounds near the close or not.

Apparently the Chinese equity market is going through a big (9% !!)correction due to speculation.

[DaJudge]

'Bounced back' to -366. :(

http://articles.moneycentral.msn.com/Investing/Dispatch/070227markets.aspx

http://articles.moneycentral.msn.com/Investing/Extra/ChinaStocksPostBiggestDropInDecade.aspx?wa=wsignin1.0

[Oscar]

OHOH I better call my broker oh wait I don't have one cause I don't have any money

[Budman]

OHOH I better call my broker oh wait I don't have one cause I don't have any money

X2!!!

[Yota]

Yeah it is holding in around -370. Probably will close around there.

But yeah my exposure to stocks is pretty limited right now. In any case, I'm in it for the long haul. This is just a blip on the way to Dow 15,000 anyhoo. :D

[Sound_Man]

This will effect me as well. I hope it doesn't get much worse.

[Oscar]

This stock market thing sound worse than Vegas for gambling

[BuiltCJ5]

probably due to greenspans report to the Chinese yesturday about how the US market is showing early signs of a possible end of the yr ressesion.

every time he speaks the market jumps up or down like the frequency of an AM radio.

[Budman]

This stock market thing sound worse than Vegas for gambling

Difference is that in Vegas, nice looking scantily clad ladies bring you free drinks while you try to make money.

[longboy]

Remind me not to check my 401k balance in the morning. It's a good thing I have a few years to retirement.

[TJay]

Sweet! Time to buy Buy BUY!

Ordered some shares of VWO this morning that I will get a nice discount on when it fills this afternoon.

[FirecrackerKTM]

Remind me not to check my 401k balance in the morning. It's a good thing I have a few years to retirement.

x2

[TJay]

This stock market thing sound worse than Vegas for gambling

You play slots for 20 years and I'll invest in the stock market. Guess who will win?

[Oscar]

Pfft slots Texas Hold'em

[Pilot]

You play slots for 20 years and I'll invest in the stock market. Guess who will win?

Better yet, you put the money into bank CD's, T-Bills, Bonds, Real Estate and I'll put it into the S&P 500 and see who wins.

Hint: Me

[Oscar]

Yall are missing one thing I aint got no money so I lose anyway

[FirecrackerKTM]

So, can I hijack the thread? Is a CD the best short-term type of thing to do? I've done some freelance work, and was going to set aside some $$ for when I have to pay taxes on it next year, and might as well put it somewhere I can do some good with it, but still have access to. Also, I'll be doing more, and I know you can't add $ to a CD over the course of 1 year, correct? is a savings account better?

[TJay]

Better yet, you put the money into bank CD's, T-Bills, Bonds, Real

This is my game.. you don't get to make the rules. I want the SPDRs

[Yota]

Yall are missing one thing I aint got no money so I lose anyway

Don't worry, there's such a thing as negative dollars. I'm sure Vegas will be glad to give you a loan at a "modest" interest rate. :D

[TJay]

So, can I hijack the thread? Is a CD the best short-term type of thing to do? I've done some freelance work, and was going to set aside some $$ for when I have to pay taxes on it next year, and might as well put it somewhere I can do some good with it, but still have access to. Also, I'll be doing more, and I know you can't add $ to a CD over the course of 1 year, correct? is a savings account better?

Check out Etrade or Emigrant for savings accounts. You are going to get 5.05%APY and the money is LIQUID and you can deposit more as you wish.

[FirecrackerKTM]

Is that rate comparable to what I'd get on a CD for that short a time? I've never done this before.

[TJay]

It's actually better than the national avg for 6 month CDs which is 4.6 and 4.8 for 1yr CDs. You can always shop around and find better rates at banks all over the place. However, if you want to get at the money, just stick it in savings.

Free $25 for opening too
http://www.mymoneyblog.com/archives/2007/02/etrade-bank-complete-savings-25-opening-bonus.html

[FirecrackerKTM]

yeah savings sounds easier. hell i might earn like $10 in interest in a year. woo hoo!

[cheftyler]

yeah savings sounds easier. hell i might earn like $10 in interest in a year. woo hoo!

ING Direct, period.

Every couple months they bump the interest rate to like 8-9% for deposits made in the next 30 days...fantastic

[DaJudge]

Yeah it is holding in around -370. Probably will close around there.

But yeah my exposure to stocks is pretty limited right now. In any case, I'm in it for the long haul. This is just a blip on the way to Dow 15,000 anyhoo. :D

MSNBC Breaking News: Dow Jones final: Exchange closes down 415.30 points

[JKTODD]

MSNBC Breaking News: Dow Jones final: Exchange closes down 415.30 points




OUCH!:mad:

[ColoradoSkier]

From the AP

Stocks had their worst day of trading since the Sept. 11, 2001, terrorist attacks Tuesday, briefly hurtling the Dow Jones industrials down more than 500 points on a worldwide tide of concern that the U.S. and Chinese economies are stumbling and that share prices have become overinflated.

The steepness of the market's drop, as well as its global breadth, signaled a possible correction after a long period of stable and steadily rising stock markets, which had not been shaken by such a volatile day of trading in several years.

A 9 percent slide in Chinese stocks, which came a day after investors sent Shanghai's benchmark index to a record high close, set the tone for U.S. trading. The Dow began the day falling sharply, and the decline accelerated throughout the course of the session before stocks took a huge plunge in late afternoon as computer-driven sell programs kicked in.

The Dow fell 546.02, or 4.3 percent, to 12,086.06 before recovering some ground in the last hour of trading to close down 416.02, or 3.29 percent, at 12,216.24, according to preliminary calculations. Because the worst of the plunge took place after 2:30 p.m., the New York Stock Exchange's trading limits, designed to halt such precipitous moves, were not activated.

[Dotcom]

on the bright side when the market is down the bond prices react as well and the mortgage rates drop. interest rates dropped 1/8th this afternoon. what is bad for the stock market can be good for the housing market.

[potter]

When the dow drops that much can't you just buy some stock and then wait for it to come back? I've always wanted to get into stocks, but my trade account requires the first deposit at $1k, which I'm not ready to spend. I would think if something as strong as the dow drops, it's bound to come back eventually. So wouldn't it be an easy opt to make some money?

[TJay]

When the dow drops that much can't you just buy some stock and then wait for it to come back? I've always wanted to get into stocks, but my trade account requires the first deposit at $1k, which I'm not ready to spend. I would think if something as strong as the dow drops, it's bound to come back eventually. So wouldn't it be an easy opt to make some money?

Yes. You can also check out Sharebuilder.com if you don't want to invest big chunks of money. You can even buy partial shares and buy commissions are only $4. Basically, tell them how much you want to invest and what stock you want to buy and they place orders every Tuesday. It's a good way to go for a small time investor.

You may also want to consider funding a Roth IRA. Some places will let you start with as little as $50 if you continue to make automatic monthly deposits. Once the money is in there, it can be invested just like a normal brokerage account, but you get a sweet tax break when you start taking money out after retirement.

[jnschwie]

You guys are all morons.

I suppose you see sales in the newspapers and run the other direction as well.

[longboy]

Thanks for your thoughtful insight, Josh :flipoff2:

[Whitey]

Yup, the DOW is down today. I took a good hit................



















...........on paper. Haven't lost anything, (or made anything), till I sell.

I can wait. :thumbsup:

[jnschwie]

Thanks for your thoughtful insight, Josh :flipoff2:

I do what I can. ;)

Need more advice? Short a few stocks, and make even more money on the downslope. http://home.comcast.net/~JSchwiesow/jump.gif


http://www.overtorqued.net/images/smilies/birthday.gif

['86Toyota]

It's actually better than the national avg for 6 month CDs which is 4.6 and 4.8 for 1yr CDs. You can always shop around and find better rates at banks all over the place. However, if you want to get at the money, just stick it in savings.

Free $25 for opening too
http://www.mymoneyblog.com/archives/2007/02/etrade-bank-complete-savings-25-opening-bonus.html

I Usually see Academy bank with CD rates around 5.05-5.25% depending on the llength of the CD, think it was actually higher than that at one point to.

[FirecrackerKTM]

ING Direct, period.

Every couple months they bump the interest rate to like 8-9% for deposits made in the next 30 days...fantastic

Link to more info? I don't really know what that is.

[denverd0n]

OUCH!:mad:
It's only OUCH if you have no choice but to sell in the near future. For anyone in a position to buy it's WOOHOO!!!

[Mack]

I heard sobbing over the wall this morning when longboy checked his 401k.

[longboy]

You were all supposed to stop me from checking it. :sob:

[denverd0n]

...might as well put it somewhere I can do some good with it, but still have access to.
CDs have a fixed term. If you take the money out any time other than the end of the term then you pay penalties. A CD is not a good place for money that you want to have access to at any time.

...I know you can't add $ to a CD over the course of 1 year, correct? is a savings account better?
It depends on the term of the CD. Some are 1 year, but you can get them for as little as seven days. Of course, the interest rates are less and the minimum amounts are more for the really short terms.

[jnschwie]

Buy Porkbellies!!!

[Mack]

What about pumpkin futures?

[Oscar]

I think Air future look good now

[jnschwie]

What about pumpkin futures?

They were rising all October long. I was planning to retire come this past January, but they somehow crashed around the end of the month. Damn it.

[1BGDOG]

Link to more info? I don't really know what that is.

http://home.ingdirect.com/



Not a bad way to see your money grow. My father in law was on Wall Street forever and he suggested this to us because our bank saving interest was paltry.

[Jesse]

Yesterday's stock market was a lot like Sunday's Carnage Canyon Backwards Jeep Luge event...suck it up, hold your breath, hang on tight, don't look back, and we'll all laugh when the slide's over....

[jnschwie]

There's a really good reason personal finance brokers universally recommend dollar cost averaging...

[oleblue]

Yesterday's stock market was a lot like Sunday's Carnage Canyon Backwards Jeep Luge event...suck it up, hold your breath, hang on tight, don't look back, and we'll all laugh when the slide's over....
:laughing:

There sure is a lot of truth in that.

Hang on folks, it will get bumpy. Unless you are ready to retire today. Just wait. it will go up in the long run.:D

[DaJudge]

Closed 2/27 at 12,217. Closed today at 12,207. Did I miss the crash?

[starbreaker666]

Did you blink? I think you may have.

[TJay]

Bump!

Closed well over 13k today. Did you buy while it was on sale?

[Jesse]

Bump!

Closed well over 13k today. Did you buy while it was on sale?

Why, yes I did.:thumbsup: :thumbsup:

And to all the Chicken Littles: :flipoff2:

[longboy]

I didn't have cash to purchase anything at the time, but I held strong on my MDU shares (Montana-Dakota Utilities). +17% ain't bad for 8 weeks.

[Xtremjeepn-Cole Ford]

Did you buy while it was on sale?

Duh!:D Of course we did.

[Oscar]

I bought socks does that count?

[Crazy5]

If I only have a little bit of money right now, but don't need access to it for several years, and am willing to take a few risks, which socks should I put my money in?

:shrug:

I bought socks does that count?

[Jesse]

If I only have a little bit of money right now, but don't need access to it for several years, and am willing to take a few risks, which socks should I put my money in?

:shrug:

Hanes or Leggs.

[Barf Bag]

I think it would be fun to have a demolition derby car named "The Stock Market"

[Swat]

Buying and holding in a diversified porfolio accounts for a little over 90% of the variance in returns across portfolios for long term investing. Market timing is only about 5% of the variance as is chasing after the hot issues. These are approximate numbers out of Markowitz Nobel prize winning research completed in 1990.

The reserach confirms the old adage of "Not putting all your eggs in one basket". In this case your different baskets are the differing asset classes.

The stock market corrects about every 5-6 years on average by 10 to 30% over a 12-24 month period. 911 kicked off the last one. With this in mind one should not have a high percentage of their assets in the stock market when close to needing the assets. There is too much risk. How much you ask? Depend on the risk you are willing to take and the time you have. The two most important variables in investing.

Guess what I do for a living?

[ASCTLC]

The short term hysterics are just white noise...

Andy

[Yota]

The short term hysterics are just white noise...

Andy

Yep. You gotta stay in for the long haul or know how to play the short term hysterics.

[Barf Bag]

"Not putting all your eggs in one basket" Guess what I do for a living?

are you a rancher?

[Yota]

Why, yes I did.:thumbsup: :thumbsup:

And to all the Chicken Littles: :flipoff2:

The stock market isn't like chicken little because the sky falls and rises and falls and rises and...

[Swat]

are you a rancher?


Free range chickens, nests everywhere.

[Xtremjeepn-Cole Ford]

Buying and holding in a diversified porfolio accounts for a little over 90% of the variance in returns across portfolios for long term investing. Market timing is only about 5% of the variance as is chasing after the hot issues. These are approximate numbers out of Markowitz Nobel prize winning research completed in 1990.

The reserach confirms the old adage of "Not putting all your eggs in one basket". In this case your different baskets are the differing asset classes.

The stock market corrects about every 5-6 years on average by 10 to 30% over a 12-24 month period. 911 kicked off the last one. With this in mind one should not have a high percentage of their assets in the stock market when close to needing the assets. There is too much risk. How much you ask? Depend on the risk you are willing to take and the time you have. The two most important variables in investing.

Guess what I do for a living?


Harry Markowitz had more to say than just have a diversified portfolio. He proved that there is not a direct correlation of risk to return. Being along the efficient frontier with certain percentages in each asset class is what drives the success.

Just to add to your post. :D

[ni0h]

Yesterday's stock market was a lot like Sunday's Carnage Canyon Backwards Jeep Luge event...suck it up, hold your breath, hang on tight, don't look back, and we'll all laugh when the slide's over....

That was the funniest thing I've ever done in a jeep.
BTW: Today the Dow closed above 13k for the first time ever. it crashed like that plane in the opening of "tomorrow never dies".

[starbreaker666]

I have 0 stocks... Wonder how I did today?

[oleblue]

I have one stock.

One stock of IBM, it was bought in 1958.

[1BGDOG]

I have 0 stocks... Wonder how I did today?


You didn't make or lose any money today on stocks.

[cowboy_tech]

I have one stock.

One stock of IBM, it was bought in 1958.

:eek: 49 year old stock. They made like what, typewriters then. What is it worth, then and now.

[oleblue]

:eek: 49 year old stock. They made like what, typewriters then. What is it worth, then and now.

don't know for sure. I never had it looked into what the worth was/is. I just know that I have one stock from 1958.

How many times it has split and the splits split and so on, I have no Idea.

[jnschwie]

There's a really good reason personal finance brokers universally recommend dollar cost averaging...

Hmm. Once again.....