Ok, I will be the first to admit I thought we were in or around the bottom a couple months ago. Ohhh boy was I wrong and holy cow has this turned ugly or what. Sept of '02 the DJIA crash low was at 7286. You have to go all the way back to 1997 to get to 6448. Could we really loose that much money? 11 years worth? Add in inflation and the amount of money is really beyond my comprehension. This is almost unreal, how much further can it really go.....
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Thread: Wall Street, how low?
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10-10-2008 12:20 PM #1
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- Aug 2006
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Wall Street, how low?
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Re: Wall Street, how low?
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10-10-2008 12:37 PM #3
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- May 2006
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Re: Wall Street, how low?
Trading and speculation will drive it well below realistic levels because of panic. Too many are trying to minimize their immediate losses and make money on everyone else's panic. If it hits 7500 I will not be surprised. Pissed off but not surprised.
Scott
41C117 "Hattatude"
Port Canaveral Florida.
Marine Electronics and Electrical Products Distributor.
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Re: Wall Street, how low?
I guess I'm in the minority but so far the situation has helped us. The dollar/peso is MUCH better than it has ever been since we moved here and our house payment in NY has dropped due to interest rates dropping. Since my retirement has nothing to do with the stock market at all, it is unaffected so our buying power has actually increased overall.
The only bad part is that the 700 billion buyout will probably increase our taxes!
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Re: Wall Street, how low?
The price of gas isn't looking so bad anymore either.
--- The poster formerly known as Scrod ---
I want to live in Theory, everything works there.
1970 36C375
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10-10-2008 03:35 PM #6
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Re: Wall Street, how low?
Exactly right This is what I keep telling my mom (76 years old) living in LI NY. She sitts around watching CNN and calls me every day in a panic. I got her out of the market and into things completly safe about 2 years ago. I keep telling her that this if anything will be good for her. Everything will go down in cost including heating oil.
Originally Posted by MikeP
If your not invested and if your income will not be affected you will probably be better off thanks to lower costs of everything.
Brian
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10-10-2008 04:14 PM #7
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- Jun 2007
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Re: Wall Street, how low?
Heh, real money isn't being lost...it was all based on credit.
Keep going down-----needs more jumpers.
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Re: Wall Street, how low?
Yup, I am waiting for everyone who always told me how stupid I am for only getting 4.75% on my insured CD's to tell me how much their stocks are down. Then I am going to fuel the boat and go cruising.
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10-10-2008 04:24 PM #9
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Re: Wall Street, how low?
That's better than my hole in the ground Originally Posted by captddis
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10-10-2008 05:47 PM #10
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Re: Wall Street, how low?
That's right and hopefully most of your customers will do the same. Then things will start to break again and you may not have the time to do as much cruising as you would like!!!. Originally Posted by captddis
I've always felt that reall people should not invest in paper that they don't really understand. Reall people should invest in reall things the kind of stuff you understand stuff you can touch stuff that simply can't lose all it's value because some fat bald stuffed suit on Wall Street says so.
BTW real people also like dogs!!!
Brian
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