Stock Market is taking a beating. Wow!!

YaHa · February 29, 2008 6:10AM

What does this mean for the coin and metals? boy 355 points down at 4pm eastern time.

jdillane · February 29, 2008 6:13AM

I think some of the AIG folks won't be adding to their coin collections in the near term.

boucharda · February 29, 2008 6:16AM

Hmmmmm.....Maybe we should switch our investing to precious metals...Oh..It's been done already

ziggy29 · February 29, 2008 6:16AM

What it means for me is: "it picked a good day to do it." I have 401K contributions that get invested on the last business day of the month, so it picked a good day to go down. You can usually count on Fridays to be a real stinker in uncertain times while the market is in a panic.

dbldie55 · February 29, 2008 6:20AM

Like most off topic threads, this has nothing to do with coins.

HonoluluDude · February 29, 2008 6:21AM

gold and silver were up today, so it means nothing.

TorinoCobra71 · February 29, 2008 6:23AM

<< What does this mean for the coin and metals? boy 355 points down at 4pm eastern time. >>

Good for Gold and Silver....Bad for the US Dollar....

TC71

BECOKA · February 29, 2008 6:23AM

It means that the chances of me being able to re-finance out of my interest only loan at a reasonable rate are increasing.

notwilight · February 29, 2008 6:25AM

<< Like most off topic threads, this has nothing to do with coins. >>

But you always open them and make a negative comment. Can't help yourself?

LALASD4 · February 29, 2008 6:28AM

It means after I liquidated my short position from 2 days ago, I can buy 5% more gold.

Gemineye · February 29, 2008 6:30AM

<< 

<< Like most off topic threads, this has nothing to do with coins. >>

But you always open them and make a negative comment. Can't help yourself? >>

There's always one in the group........

jimmymac · February 29, 2008 6:31AM

do you mean what's happening to the crooked stock markets - it's all a ruse - the Fed props up the stock market by giving away cheap dollars - just to keep the SM afloat and pander to all of the deceit, greed and corruption - it's a racket and its about time they start paying for their sins!! - obviously NOT a big supporter of Wall Street

Griv · February 29, 2008 6:40AM

I don't own a penny of stock nor will I ever again. Stock is BS paper and good luck while Wall Street steals your profits. Been there, done that. If you're doing well, God bless you but don't cry on my shoulder when your portfolio is worth as mush as a double roll of Charmin tissue.

ziggy29 · February 29, 2008 6:45AM

<< I don't own a penny of stock nor will I ever again. Stock is BS paper and good luck while Wall Street steals your profits. Been there, done that. If you're doing well, God bless you but don't cry on my shoulder when your portfolio is worth as mush as a double roll of Charmin tissue. >>

One of these days, the foil-hatted apocalypse-mongers will be right. Who knows? It could even be this time. But history suggests it isn't likely.

FLBuffaloHunter · February 29, 2008 6:48AM

The stock market has been taking a beating since November and it's not going to get better anytime soon.

ziggy29 · February 29, 2008 6:50AM

<< The stock market has been taking a beating since November and it's not going to get better anytime soon. >>

You sound certain. Will you provide a guarantee of that if I go short and lose a lot of money?

FLBuffaloHunter · February 29, 2008 6:52AM

<< 

<< The stock market has been taking a beating since November and it's not going to get better anytime soon. >>

You sound certain. Will you provide a guarantee of that if I go short and lose a lot of money? >>

JMO, no money back guarantee

ziggy29 · February 29, 2008 6:52AM

<< 

<< 

<< The stock market has been taking a beating since November and it's not going to get better anytime soon. >>

You sound certain. Will you provide a guarantee of that if I go short and lose a lot of money? >>

JMO, no money back guarnatee

>>

Darn. I thought I had a sure thing there.

jmski52 · February 29, 2008 6:54AM

One of these days, the foil-hatted apocalypse-mongers will be right. Who knows? It could even be this time. But history suggests it isn't likely.

Even a broken clock is right twice a day. By the way, has anyone had their bank freeze or limit withdrawals, or place any restrictions on what you can do with your money? There was a comment in the other thread, and it might be something to watch for.

mrearlygold · February 29, 2008 7:08AM

<< It means that the chances of me being able to re-finance out of my interest only loan at a reasonable rate are increasing. >>

percyb · February 29, 2008 7:09AM

<< What does this mean for the coin and metals? boy 355 points down at 4pm eastern time. >>

What happened to your other Avatar?? I loved it!

SkyMan · February 29, 2008 7:24AM

Jeez folks, wake up and smell the hummos.

Buy some high quality stocks that produce decent dividends and wait for them to go higher over the next 3 to 5 years. Enjoy either saving the dividends or spending them on coins in the interim. It's not really too difficult to make money in the stock market if you buy a decent stock at a decent price.

LALASD4 · February 29, 2008 7:26AM

The big boys are just driving it up and down so they can create some profits to cover their SIVs losses.

Frankcoins · February 29, 2008 7:58AM

Video: Inflation much higher than fed is reporting

Video

FLBuffaloHunter · February 29, 2008 7:59AM

<< Video: Inflation much higher than fed is reporting

Video >>

What else is new? Just wait until oil demand peaks in the summer

alfalfa · February 29, 2008 8:00AM

I agree with SkyMan. At 29, I've got decades to go until retirement and have been scooping up good dividend paying stocks for my Roth IRA. I just bought PFE, and will be buying DD and UN in the next week or two.

RJ

Deadhorse · February 29, 2008 8:13AM

The Dow is head towards 9,000. Just wait and see.

After a little time there and people begin to put more money back into it, then it will drop to 6,000 where it belongs.

Got no use for paper investments, but I study it because of how it effects everything else.

Yes, we are in for a world of hurt, and it's not just us. The rest of the world is going to suffer just as much if not more.

Nysoto · February 29, 2008 8:18AM

It is a great time to buy on the sell offs, for the long term. Prices relative to earnings are at the lowest in over ten years.

SkyMan · February 29, 2008 8:30AM

<< The Dow is head towards 9,000. Just wait and see.

After a little time there and people begin to put more money back into it, then it will drop to 6,000 where it belongs.

Got no use for paper investments, but I study it because of how it effects everything else.

Yes, we are in for a world of hurt, and it's not just us. The rest of the world is going to suffer just as much if not more. >>

Paper investments? I don't know where you come from but most people I know at least eat food, drink water and wipe their ass. There are many companies you could buy paper shares in (e.g. OWN a part of that company) that allow you to make a profit on the above three procedures... and while you are waiting on the stocks to hit a new high you can enjoy saving/using the dividends as you see fit. Needless to say, there are many other things that most people also do that you can make a profit on. Any time is a good time to buy stock if it is of a good company selling at a decent price (and it's even better if the stock has irrationally been taken down in a bear market).

As the saying goes, buy when there is blood in the streets...

fishcooker · February 29, 2008 10:50AM

I think it's pretty tough to call today's market "blood in the streets."

I prefer to wait for the buy and hold crowd to give up.

tradedollarnut · February 29, 2008 10:57AM

<< The Dow is head towards 9,000. Just wait and see.

After a little time there and people begin to put more money back into it, then it will drop to 6,000 where it belongs.

Got no use for paper investments, but I study it because of how it effects everything else.

Yes, we are in for a world of hurt, and it's not just us. The rest of the world is going to suffer just as much if not more. >>

The Dow will not go to 6,000 ... unless you're pricing it in Euros in which case it'll be sooner than you think!

roadrunner · February 29, 2008 12:00PM

The Dow at 6,000 is possible, just like $6000 gold is possible. The Dow/Gold ratio is headed towards single digits. It's historically bottomed at 1-10, with lower numbers being more likely. If the Dow stays at 10,000 or higher, then gold will rise to $3000-$10,000 to meet it. It the Dow falls to 6000, then $1500-$6000 gold is the likely range.

I would bet on a Dow/Gold ratio of 3:1 or less before this is over.

For an IRA I would be into PM, energy, and other commodity stocks over the next few years. Then slowly moving back into typical consumer stocks once the Dow has been fully trashed. Commodities
have a long ways to run still (agri-stocks, metals, energy, water, land, etc).

roadrunner

SkyMan · February 29, 2008 12:07PM

<< I think it's pretty tough to call today's market "blood in the streets."

I prefer to wait for the buy and hold crowd to give up. >>

I agree with you, I never said there was CURRENTLY blood in the streets. It's not even close. Let's not forget that only 5ish years ago the Dow was about 7,600. Still, there are some nice valuations starting to appear on specific stocks.

bestday · February 29, 2008 12:22PM

<< What does this mean for the coin and metals? boy 355 points down at 4pm eastern time. >>

Short term low is real close..however the stock market is due for a real beating sometime by the end of May..buy then , for a rally to new high by end of year.....how low for May low ????......at 10,000 + DOW or silghtly below to 9700.....

look out below

Konahead · February 29, 2008 12:40PM

<< Hmmmmm.....Maybe we should switch our investing to precious metals...Oh..It's been done already

>>

Bear · February 29, 2008 12:45PM

My best evaluations, taking into account

lower earnings,would be around 11,000 DOW.

Stock Market is taking a beating. Wow!!

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