Relax. I have some good news regarding the stock market.

LeftyFingerPop

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:37 PM
Original message

Relax. I have some good news regarding the stock market.

Edited on Thu Oct-09-08 09:37 PM by philboy

My main holding was down over 20% today.

Heres the good news: If this continues, the pain stops in about 5 days.

Printer Friendly | Permalink | | Top

Marsala

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:38 PM
Response to Original message

1. The pain stops in 5 days? Yeah. When the Dow hits zero.

Financial apocalypse tomorrow.

Printer Friendly | Permalink | | Top

LeftyFingerPop

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:39 PM
Response to Reply #1

2. That was my point. n/t

Printer Friendly | Permalink | | Top

Buzz Clik

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:39 PM
Response to Original message

3. Such an optimist. To quote Stephen Colbert:: "The good news is...

"... I didn't know it had 500 points to lose."

Printer Friendly | Permalink | | Top

AlCzervik

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:39 PM
Response to Original message

4. i'm sorry PB, i'm right there with ya.

Printer Friendly | Permalink | | Top

LeftyFingerPop

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:43 PM
Response to Reply #4

7. I know you are...I have noticed your posts...

Did you ever even imagine you would see something like this? I'm like a deer in the headlights...it is too late for me to sell. Nothing left for me to do but hunker down and wait. Problem is, I'm going to need this money sooner, rather than later.

Good luck to you and hang in there.

Printer Friendly | Permalink | | Top

AlCzervik

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:47 PM
Response to Reply #7

8. No Phil i never thought i'd see it blow up so wide spread, i figured certain segments

of the market would get hurt but it's spread to even money markets. It's just a damn mess and i don't know where the bottom is.

At this point riding it out is all i can really do. Hang in there too PB, we're gonna get through this.

Printer Friendly | Permalink | | Top

LeftyFingerPop

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:52 PM
Response to Reply #8

12. I'm in a utility company...

That has hedged it's future sales contracts at much higher prices than the commodity is currently trading for. It is guaranteed income in normal times. Smartest management team in the business.

The problem now, however, is that people are fearing that the economy is so bad, the company's customers will not be able to pay their bills for this commodity.

A UTILITY COMPANY that is financially sound has lost 76% of it's market cap in 90 days!!! WTF!!!!!

I have mitigated this loss somewhat by reducing my cost basis by buying on the way down...but Jesus Christ!!!!

Printer Friendly | Permalink | | Top

Kukesa

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 10:08 PM
Response to Reply #4

16. And so am I. My problem is that I don't have time to wait

until the markets recover. I'm old and I'm retired and this hurts a lot.

Five more days of pain, huh? Guess I can stand that. Will my bleeding stop, as well? How about this stress-related headache of mine?

Printer Friendly | Permalink | | Top

whistle

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:41 PM
Response to Original message

5. Maybe sooner...check out the commentaries at the link

http://www.youtube.com/user/ubseconomics

Printer Friendly | Permalink | | Top

seemslikeadream

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:50 PM
Response to Reply #5

10. Thanks

Printer Friendly | Permalink | | Top

LeftyFingerPop

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 10:04 PM
Response to Reply #5

15. Good link. Thank you. n/t

Printer Friendly | Permalink | | Top

MercutioATC

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:41 PM
Response to Original message

6. Can I ask a question without sounding "I told you so"?

...because it's really not meant that way.

Were you forced into equities as your only option or did you have the opportunity to move into something more stable? I ask because I understand that some people didn't have the option of moving their money, but I don't know how prevalent that is. I have options, but I know that some don't.

Printer Friendly | Permalink | | Top

LeftyFingerPop

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:47 PM
Response to Reply #6

9. Yes, I have options.

I am in a Fidelity IRA in which I am free to trade many types of securities. The majority of my money is in cash, but what I do have in stocks is enough to make me hurt when things turn south like this.

My only other choice would have been go to 100% cash and watch my money stagnate.

I am not a rich man, and I turn 50 next week. I need that money to grow.

I always invest in good companies with strong fundamentals, and only after doing weeks of due diligence.

You can't fight a panic though.

Printer Friendly | Permalink | | Top

hedgehog

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:50 PM
Response to Reply #9

11. "You can't fight a panic though." There are a lot of companies with

good products and strong sales that are being dragged down for no reason. I wonder how long it'll take them to recover?

Printer Friendly | Permalink | | Top

LeftyFingerPop

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:53 PM
Response to Reply #11

14. Very hard to say....

It all depends on the overall economy, and if it gets so bad that there is demand destruction for the company's product, etc.

Printer Friendly | Permalink | | Top

Kurt_and_Hunter

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 09:52 PM
Response to Original message

13. No, it continues forever and ever... Zeno's Paradox

"Zeno's Paradox may be rephrased as follows. Suppose I wish to cross the room. First, of course, I must cover half the distance. Then, I must cover half the remaining distance. Then, I must cover half the remaining distance. Then I must cover half the remaining distance . . . and so on forever. The consequence is that I can never get to the other side of the room."

Printer Friendly | Permalink | | Top

Generic Brad

(1000+ posts) Send PM | Profile | Ignore

Thu Oct-09-08 10:45 PM
Response to Original message

17. It will take more than 5 days

Maybe 6. Aren't the markets are closed Columbus Day?

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Thu May 02nd 2024, 09:15 AM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.