so uh how 'bout that stock market today?

[fishpoopoo]

so uh i uh told ya so (on another board).

[PaulS]

I sold everything in my largest 401 k to convert it to an IRA about 2 weeks ago. Its still sitting in cash

[taJon]

Originally Posted by PaulS

I sold everything in my largest 401 k to convert it to an IRA about 2 weeks ago. Its still sitting in cash

wish I had. Now I have to wait it out. My money would be safer under my mattress.

[Ed B]

Ben, Glad to see you're keeping your eye on the ticker today rather than funnin with guys on the other site. Somehow I have this vision of you right now sitting in a chair on a Wall St sidewalk eating popcorn waiting for jumpers though. After the banking troubles we had in 1990-92 I'm really surprised that they could have allowed so much easy money this last go-around. Thanks Alan Greenspan
So where do we go from here? Any word on the street on another banking blowout?
Ed

[Fishpart]

I have time on my side, just recoverd from the recession that started the day Bush took office .....

[wheresmy50]

Inflation is near 20 year lows. Unemployment is between 4.6 and 4.7% (near 25 year lows). Taxes are at 20 year lows.

Bush's recession is killing us all.

I guess it's Bush's fault people decided to buy houses they couldn't afford.

God forbid there would be a little personal responsibility in this country. I'm waiting for the TV commercials of lawyers recruiting people to sue their banks for lending them money.

[Saltheart]

Good for one , bad for another , etc. If 500K houses become available with no one to buy , doesn't that mean the price goes down. I suppose that's bad for your current house but good if you want to buy a new one? I think it all evens out eventually.

I can remember driving by these beautiful huge houses being built thinking "who the heck can afford these?" I wondered what they did for a living. Well it turns out..... they couldn't afford them.


Anyway , when its all over , we go to the grave without a cent.

Enjoy what you have!! (where did I hear that before?)

[striperman36]

Market is negative for the year. Even energy stocks. Global stocks are neutral after last years 22-28 pct global growth we are not going to see that this year.

There are individual stocks to be had but far and few inbetween.

The market is direction is bearish, on the edge of recession, one more issue and we'll have a fall with electronic trading throttling.

Maybe gas at 3.00 on the east coast will do it.

[TheSpecialist]

funny I was working in a neighborhood that was just being developed last week. I asked the builder how much the houses were going for, he says 675 is the average. I said who the heck can afford them, he says most of his buyers are young people who are getting interest only mortgages, and betting that in 5 years the houses will appreaciate enough for them to sell and make a profit. That's a big gamble in todays RE market.

[striperman36]

3 in the hood here, all over 700 down from 850 unsold in 6 months.