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-678.91. I feel ill.
Posted by: rgG
Date: October 09, 2008 03:26PM
I sure hope this is the capitulation sell off that all the analysts have been talking about. With the Dow now at 8579.19, I don't want to think that it is going down even further. I don't think there is an appropriate smiley for this.





Roswell, GA (Atlanta suburb)
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Re: -678.91. I feel ill.
Posted by: macphanatic
Date: October 09, 2008 03:29PM
And Congress said that they needed to do the bailout to save the economy. Imagine what would have happened if they didn't do it.dunno smiley
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Re: -678.91. I feel ill.
Posted by: Seacrest
Date: October 09, 2008 03:32PM
Quote
macphanatic
Imagine what would have happened if they didn't do it.dunno smiley

We'd still have $700B "lying around"?





I am not Ryan Seacrest, and I do not approve this message.
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Re: -678.91. I feel ill.
Posted by: AlphaDog
Date: October 09, 2008 03:39PM
Quote
Seacrest
Quote
macphanatic
Imagine what would have happened if they didn't do it.dunno smiley

We'd still have $700B "lying around"?

And they would have divided it up and given it to us to make up for our losses in the stock market, right? Not. Where are all of those disgusting vomit images from a couple of days ago?
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Re: -678.91. I feel ill.
Posted by: rgG
Date: October 09, 2008 03:44PM
None of the bailout money has been spent, yet. Interest rates have been lowered all over the world. The Fed has been loosening up the money supply and none of this has helped.

When the tech bubble burst, you had other places to hide. Now all sectors are in the toilet.





Roswell, GA (Atlanta suburb)
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Re: -678.91. I feel ill.
Posted by: MacMission
Date: October 09, 2008 03:45PM
Quote
Seacrest
Quote
macphanatic
Imagine what would have happened if they didn't do it.dunno smiley

We'd still have $700B "lying around"?

Thanks for making me laugh out loud sitting here by myself. I needed that.
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Re: -678.91. I feel ill.
Posted by: john dough
Date: October 09, 2008 03:47PM
Quote
rgG
I don't think there is an appropriate smiley for this.

I think these are appropriate:

eek2 smiley barf smiley banghead smiley cry smiley censored smiley
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Re: -678.91. I feel ill.
Posted by: rgG
Date: October 09, 2008 03:55PM
Alphadog,
I think this might be one of the images you were talking about.







Roswell, GA (Atlanta suburb)
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Re: -678.91. I feel ill.
Posted by: Seacrest
Date: October 09, 2008 03:56PM
Quote
rgG
None of the bailout money has been spent, yet. Interest rates have been lowered all over the world. The Fed has been loosening up the money supply and none of this has helped.

Because asset prices are still too high (or asset owners are unwilling to sell at true market value), and risk is still woefully underpriced.
Now that the prospect of getting paid back has miraculously come back into vogue, no one is going to lend money to parties that are already hopelessly over-leveraged, especially when real returns are close to negative.





I am not Ryan Seacrest, and I do not approve this message.
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Re: -678.91. I feel ill.
Posted by: Seacrest
Date: October 09, 2008 03:59PM
Quote
AlphaDog
And they would have divided it up and given it to us to make up for our losses in the stock market, right?

Trust me, I have no illusions about THAT.
Nor would I ever expect that to happen.

terrified smiley
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Re: -678.91. I feel ill.
Posted by: Ammo
Date: October 09, 2008 04:16PM
But APPL is only down $1? Has it really bottomed out or is there some really good news that I'm not aware of?
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Re: -678.91. I feel ill.
Posted by: Gutenberg
Date: October 09, 2008 04:18PM
There are still plenty of companies that are worth something, ammo. Apple is one of them.
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Re: -678.91. I feel ill.
Posted by: mattkime
Date: October 09, 2008 04:18PM
if it makes you comfortable, stop looking at that number.
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Re: -678.91. I feel ill.
Posted by: Lux Interior
Date: October 09, 2008 04:19PM
Quote
Ammo
But APPL is only down $1? Has it really bottomed out or is there some really good news that I'm not aware of?

Good news? AAPL is down $90 a share (50%) since August.
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Re: -678.91. I feel ill.
Posted by: Kramerica
Date: October 09, 2008 04:25PM
I am pleased AAPL didn't drop a huge percentage today too. I've lost enough already.
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Re: -678.91. I feel ill.
Posted by: sekker
Date: October 09, 2008 04:29PM
Apple announced the notebook event oct 14 - that buffered the stock for at least today.
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Re: -678.91. I feel ill.
Posted by: (vikm)
Date: October 09, 2008 04:33PM
The tech stocks were reportedly going against the downward trend earlier in the day and Apple was actually up a bit until everyone decided to freak the fsck out again and the market totally plummeted.
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Re: -678.91. I feel ill.
Posted by: vision63
Date: October 09, 2008 04:36PM
Fasten your seatbelts, it's gonna be a bumpy ride.
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Re: -678.91. I feel ill.
Posted by: MikeF
Date: October 09, 2008 04:49PM
Just think, the $700 billion could be $100 to every person on the planet -- rather than just a greedy few who knew what they were getting into and screwed everyone else...
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Re: -678.91. I feel ill.
Posted by: Lux Interior
Date: October 09, 2008 05:01PM
Quote
MikeF
Just think, the $700 billion could be $100 to every person on the planet -- rather than just a greedy few who knew what they were getting into and screwed everyone else...

Yeah. That would reverse the 100k drop my 401k has suffered.
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Re: -678.91. I feel ill.
Posted by: weapon
Date: October 09, 2008 05:03PM
MikeF, that might be the dumbest statement ever made on here.

Seriously...
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Re: -678.91. I feel ill.
Posted by: N-OS X-tasy!
Date: October 09, 2008 05:09PM
Quote
Lux Interior
Quote
MikeF
Just think, the $700 billion could be $100 to every person on the planet -- rather than just a greedy few who knew what they were getting into and screwed everyone else...

Yeah. That would reverse the 100k drop my 401k has suffered.

Ouch. I feel a lot better now about the $3K mine has lost.

I am thanking every god ever devised by the human mind for never getting around to investing my six figure IRA in the market. Two months ago I was just a lazy bastard - but now I'm a financial genius!



It is what it is.
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Re: -678.91. I feel ill.
Posted by: MacArtist
Date: October 09, 2008 05:13PM
We are in a situation that doesn't have any guidelines.

People are taking best guesses trying to smooth over the real problems...

Unabated greed (consumers, institutions, government)

Abuse of credit (consumers, institutions, government)

Living beyond one's means (consumers, institutions, government)



I sit on a man’s back, choking him and making
him carry me, and yet assure myself and others
that I am very sorry for him and wish to ease his
lot by all possible means — except by getting off
his back. - Leo Tolstoy, novelist and Philosopher
(1828-1910)

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Re: -678.91. I feel ill.
Posted by: Dubya
Date: October 09, 2008 05:31PM
My wife wants to stop contributing to her 401K for the time being.


She may be on to something...
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Re: -678.91. I feel ill.
Posted by: Grateful11
Date: October 09, 2008 05:39PM
Quote
Dubya
My wife wants to stop contributing to her 401K for the time being.


She may be on to something...

I'm thinking about boosting mine to get more while it's low.



Grateful11
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Re: -678.91. I feel ill.
Posted by: weapon
Date: October 09, 2008 05:39PM
My idiot former roommate got fired from his tech job a year ago.

He was making over $50k. He had about 60k in his 401k. He evacuated his account 6 months after he was let go. Everyone including myself said NOOOOOO!!!!!!!!

Now he is looking like a genius. Life is funny sometimes.



Edited 1 time(s). Last edit at 10/09/2008 05:42PM by weapon.
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Re: -678.91. I feel ill.
Posted by: wurm
Date: October 09, 2008 05:39PM
Well, nobody here was planning on retiring...................ever, right?
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Re: -678.91. I feel ill.
Posted by: weapon
Date: October 09, 2008 05:43PM
Quote
Grateful11
I'm thinking about boosting mine to get more while it's low.

Thinking the same thing!!! 20% here we come...



Edited 1 time(s). Last edit at 10/09/2008 05:43PM by weapon.
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Re: -678.91. I feel ill.
Posted by: N-OS X-tasy!
Date: October 09, 2008 06:22PM
Quote
weapon
My idiot former roommate got fired from his tech job a year ago.

He was making over $50k. He had about 60k in his 401k. He evacuated his account 6 months after he was let go. Everyone including myself said NOOOOOO!!!!!!!!

Now he is looking like a genius. Life is funny sometimes.

Unless he rolled it over into an IRA or other approved retirement investment vehicle, he took a (roughly) 40% hit on his withdrawal - 15% higher than the (roughly) 25% hit most of us report losing from our 401(k)s to date, with no chance to regain his losses. Not so smart.



It is what it is.
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Re: -678.91. I feel ill.
Posted by: artie67
Date: October 09, 2008 06:31PM
I have hesitated to post this for some weeks. My "learned friend" when asked by me over a year ago," is this economy is nothing but paper", replied in a long email basically about deregulation and becoming a "service" oriented country. When asked about the stock market, the reply was "don't be suprised to see the Dow go down to 7500".
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Re: -678.91. I feel ill.
Posted by: AlphaDog
Date: October 09, 2008 06:54PM
Quote
Grateful11
I'm thinking about boosting mine to get more while it's low.

I was talking to a friend this morning, and that's what she's done.
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Re: -678.91. I feel ill.
Posted by: Ombligo
Date: October 09, 2008 07:06PM
I'm putting several thousand a month into my 401k, IRAs and other investment accounts. I'll keep doing that as long as I can. Yes this is a huge drop or adjustment, but when it bottoms out and turns, it will be a wicked ride up as the bargain hunters go as looney as brides at the Bloomingdale Basement Sale.

I have not really lost anything in the market, my $150k drop is strictly a paper loss. Nobody really loses anything until it gets into their principle.

Quite honestly the panic we're seeing is a good example of why the self directed 401k is really not a good idea for the typical worker. The normal person does not understand the market or how to invest.



“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld
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Re: -678.91. I feel ill.
Posted by: Lee3
Date: October 09, 2008 07:50PM
I think I am going to make a lot of money, when I start buying these companies dirt cheap. Market just needs to go sideways for awhile
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Re: -678.91. I feel ill.
Posted by: Lux Interior
Date: October 10, 2008 03:31AM
Quote
Ombligo
Quite honestly the panic we're seeing is a good example of why the self directed 401k is really not a good idea for the typical worker. The normal person does not understand the market or how to invest.

I don't know who could have avoided this. At the beginning of the year, the number of doomsayers (there are always some, but there was an increase) calling for a disaster this year go to me.

I moved my 401k into a 35-40% bond position. Way too conservative for someone my age, and it only softened the blow a little.
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Re: -678.91. I feel ill.
Posted by: Dakota
Date: October 10, 2008 09:00AM
Can we put a stop payment on that check? Seriously.
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