> 13,000

[DevilAlumna]

Man, I'm glad I'm nowhere near retirement*, or this recent stock market plummet would scare the bejimini out of me.

http://articles.moneycentral.msn.com/Investing/Dispatch/070815markets.aspx


It took the Dow 60 trading sessions to move from 13,000 to 14,000, a level reached on July 19. It has taken just 19 sessions to lose those thousand points.

Today's was the Dow's fifth consecutive loss; the market fell for five-straight sessions between Feb. 21 and Feb. 27. And the blue-chip index's loss of 796 points over the last five sessions is its worst five-day swoon since the five sessions that began on July 16, 2002.



* Well, actually, I'd love to be near retirement at my current age, but that ain't gonna happen.....

[YmoBeThere]

May have set me back some time, but then I am a few years closer to retirement any way. Well, if everything works out right(i.e. I meet a rich woman who promises to support me in a manner and style which I find acceptable).

[jimbonelson]

goldman sachs has killed me this month from a high of 233 to 167 yesterday

[dukestheheat]

hey,

i, too, have lost the shorts (for a second time, once couple weeks back 'boarding, and now in the market) again, but it'll come back up. i think.

dth.

[tombrady]

hey,

i, too, have lost the shorts (for a second time, once couple weeks back 'boarding, and now in the market) again, but it'll come back up. i think.

dth.

It will. I think it'll bottom to around 12300 or so, then waver around there for a while (3 months or so) until everyone calms down and things straighten out.

There are lots of great value stocks to be had for real cheap right now.

[Cavlaw]

My 401(k) is now sitting flat for the year. Being pre-tax dollars, I guess that means it was still better to put the money into it than to take as DI and drop it into a money market.

Here's hoping for a quick market rebound! (at least today ended ok)

[OZZIE4DUKE]

It will. I think it'll bottom to around 12300 or so, then waver around there for a while (3 months or so) until everyone calms down and things straighten out.

There are lots of great value stocks to be had for real cheap right now.

The Dow was down 343 points at one point today, but finished only down 15.69. Nice rally!

Can you say "capitulation!"?

It is too late to play the shorts. Good time to jump back on Apple now that it has lost 30 points (among others, like Goldman Sachs and other financials).

[Cavlaw]

Apple you say? :) The idea of playing the market has always seemed fun to me. Perhaps I will give it a go in my next life.

[OZZIE4DUKE]

The fed blinks and we're back above 13,000.

BTW, Apple was up $5.01 today, but no, I didn't buy any options.

[buddy]

In 1987 the Dow dropped 500 points in one day, from 2200 to 1700. Now THAT was a drop. Now it's over 13000. Be patient!

[YmoBeThere]

The fed blinks and we're back above 13,000.



So, should this thread be changed to > 13,000?

Yes, the Fed blinked. We are not off to the races and there will likely be more mortgage brokers that go outta business, but the downward risk has been mitigated in my mind.

[Jarhead]

What? The Fed Blinked? What do they know that they aren't telling us? I'm leaving.

[YmoBeThere]

What? The Fed Blinked? What do they know that they aren't telling us? I'm leaving.

For those that were waiting for the Fed to act...what did we know that the Fed didn't know? And how did we know it? And what if everyone has gotten it wrong?

[Jarhead]

Yep, those questions, too. Actually I was a bit disingenuous with my post. I have not been in the stock markets for years. Even before the 1987 500 point meltdown in the Dow I had decided that my retirement would be best served if I put as much as I could in tax deferred annuities, but 401k plans were not available since I worked for a non-profit. Instead, I had a 403b plan that my employer, The American Red Cross, kindly set up with a Massachusetts life insurance company.

My wife was a school teacher in Missouri and Virginia for 35 years, and they provided pretty good retirement benefits. Not perfect since Missouri opted out of Social Security for all of its teachers. Bummer. All in all, though it all works out. We live on our several pensions including my military retirement. The money we are required to take out of our TDA and IRA accounts(because of our age, so they can collect taxes from us), all goes into our money tree, a pretty good tax exempt mutual fund. Every few months we prune that tree for a trip to Hawaii or Europe, or a new car, house makeover, new heat pump, etc. It all works out, and the tree grows out, so we get to prune it again. We are quite comfortable, thank you, and not a penny invested in equities.

To summarize, not interested in the machinations of the equities markets. I am sorry, but what am I doing in this thread?