Thread: Did you see the stock market today?

Yeah. Pretty crazy. GM's stock is lower then it was in 1950. Some really good deals out there. I just took a few thousand out of my savings to purchase some.

Ford Stock Price Dips Below The Cost Of A Gallon Of Gas

Today, the price of a share of Ford stock dipped to $2.40 (as of 1:58 PM), the lowest price valuation on the automaker since 1983. In fact, at that price, we figure it's lower than the cost of a gallon of regular unleaded gas at any service station in the country.

Like father like son..

Dow falls through 9,000 and picks up speed
Stocks continue seven-session free fall amid sluggish credit markets

I love it! In the last two days I increased my trading account by 4%!

I'm almost halfway to my monthly goal and it's only the 9th.

Originally Posted by bigsahm21

Yikes. I'm heading out to stock up on canned food and bottled water.

you might be better off investing, it's a great time to buy.

Originally Posted by Prince

you might be better off investing, it's a great time to buy.

Who ever can smell the bottom of this is going to be buying. We might see some rallies and brief spikes. S & P and DJIA won't go near the high it was in September of 2007.

I suppose the question is when will the bottom be reached.

I suppose most of this situation depends on a person's time-line (age). The younger people can ride this out, and those older people that were planning on retirement off of 401K/IRA investments may have to realize they'll have to wait and delay, or even scrap the whole concept of retirement all-together.

I think many of us have learned that an alternative to "financial markets" is what real diversification is.

Screw that, historically leave recessions do last for 1-2 years. The people who buy on the way down make out like freaking bandits assuming you have 5+ years to wait it out.

The time to get into alternative investments is already past, you're the sucker buying it as it becomes really expensive. You should be doing the opposite of what the prevailing feeling is. People are scared at the moment; I'm feeling greedy as hell.

I am definitely buying some stocks to let sit a brew for 10+ years hopefully even if I lose on all but one that one will make up for the losses 100 fold....

FNM & FRE

The government won't let either get delisted. Eventually, they'll get pushed back to prove that the economy is getting better.

At a dollar a share, it has a good risk to reward ratio.

Originally Posted by DOMS

FNM & FRE

The government won't let either get delisted. Eventually, they'll get pushed back to prove that the economy is getting better.

At a dollar a share, it has a good risk to reward ratio.

There's one, who else has ideas? I've been going about this through PM's buy am now asking the general public. "Buy low, sell high", right? Sure looks low as hell to me. So, who's buying what? I've got some money and I'm not afraid to spend it...............................That's bullshit, I'm terrified. But I still think it's the right thing to do and am looking for ideas.

Thanks

Originally Posted by ALBOB

There's one, who else has ideas? I've been going about this through PM's buy am now asking the general public. "Buy low, sell high", right? Sure looks low as hell to me. So, who's buying what? I've got some money and I'm not afraid to spend it...............................That's bullshit, I'm terrified. But I still think it's the right thing to do and am looking for ideas.

Thanks

Everything is beaten down. Buy best of breed stocks in each sector imo.

PG, KO, IBM, XOM

For financials they're all risky, but I'm riding on BAC as my financial play.

Originally Posted by ALBOB

There's one, who else has ideas? I've been going about this through PM's buy am now asking the general public. "Buy low, sell high", right? Sure looks low as hell to me. So, who's buying what? I've got some money and I'm not afraid to spend it...............................That's bullshit, I'm terrified.

The ban on shorting was lifted a day or two ago.

So, some of these sharp decline are based on shorting. This also means, those shorting predict further declines in the markets.

There will be a bottom. If you start buying at or near the bottom and are focusing on going long, you should make positive gains.

Where and when this bottom is, I have no idea.

Here is an article from the Financial Times.

Share price falls blamed on short selling return

By Joanna Chung, Francesco Guerrera, Julie MacIntosh and Anuj Gangahar in New York and Bernard Simon in Toronto

Published: October 9 2008 19:05 | Last updated: October 9 2008 22:53

The return of short sellers to the US market after a near-three-week ban was blamed for contributing to a sharp drop in prices on Thursday as General Motors and Morgan Stanley led stock markets sharply lower.

In another rollercoaster trading day, shares in Morgan Stanley fell 25.9 per cent to $12.45, while GM sank to its lowest point since 1950, down 31.1 per cent to $4.76.


The share price declines coincided with the lifting of a ban on traders who aim to profit from share price declines. The ban had prevented short selling on nearly 1,000 companies, including financial firms and industrial groups such as GM.

The ban was lifted by the US Securities and Exchange Commission late on Wednesday night.

Link & Entire: FT.com / Markets / US - Share price falls blamed on short selling return

I like the companies that pay good dividends. GE (general Electric) and PFE (pfizer) to name a couple. I also like ETFC (e-trade).

Originally Posted by Prince

you might be better off investing, it's a great time to buy.

Sure will be. I still think the bottom is in the 7500-7600 range. All the "buy and hold people" haven't sold yet. When they do, you will see the bottom. THEN BUY!

Originally Posted by Doublebase

Yeah. Pretty crazy. GM's stock is lower then it was in 1950. Some really good deals out there. I just took a few thousand out of my savings to purchase some.

DoubleBase's professional opinion of the market
24/7 Wall St.: Alec Baldwin's professional opinion of the market

Originally Posted by min0 lee

DoubleBase's professional opinion of the market
24/7 Wall St.: Alec Baldwin's professional opinion of the market

Did you enjoy the Hispanic Day Parade and the Columbus Day Parade this weekend in Manhattan? I went up there Saturday until about 4pm today. I'm all paraded out. Glad to be out of that city. They want me to go back up there for a QVC show. I don't think I'm going to do it though. I had enough of NYC. Atleast it was a beautiful weekend.

Originally Posted by Doublebase

Did you enjoy the Hispanic Day Parade and the Columbus Day Parade this weekend in Manhattan? I went up there Saturday until about 4pm today. I'm all paraded out. Glad to be out of that city. They want me to go back up there for a QVC show. I don't think I'm going to do it though. I had enough of NYC. Atleast it was a beautiful weekend.

I didn't know about the Hispanic day parade, what were they celebrating?

We avoid most parades....there' so many here.