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| The Scuppers This is a new forum for the not necessarily fishing related topics... |
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11-06-2008, 08:53 PM
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#1
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Registered User
Join Date: May 2008
Location: Mansfield, MA
Posts: 5,238
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Quote:
Originally Posted by Back Beach
Don't look now, but we're up 20% off last month's bottom. Sure we'll pull back a bit from profit taking, but I think an uptrend is in place for a while.
People who bailed and went into cash are gonna be playing catchup.
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Quote:
Originally Posted by Back Beach
Good things if you have the discipline to stick with it long term.
Again, I'm always the optimist....
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The market is down 929 points since you said that yesterday morning and only about 200 points off that bottom from last month. I think December will see terrible consumer spending and January will bring another dumping of the market. |
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11-07-2008, 09:46 AM
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#2
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Respect your elvers
Join Date: Mar 2004
Location: franklin ma
Posts: 3,368
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Quote:
Originally Posted by JohnnyD
The market is down 929 points since you said that yesterday morning and only about 200 points off that bottom from last month.
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 Its almost as though the market dropped as soon as I typed it.
Cashin's prediction was right with regard to the rally and ensuing drop. Buy the rumor, sell the news as they say. |
It's not the bait
At the end of your line
It's the fishing hole
Where all the fish is blind
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11-07-2008, 11:06 AM
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#3
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Registered User
Join Date: May 2008
Location: Mansfield, MA
Posts: 5,238
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Quote:
Originally Posted by Back Beach
Its almost as though the market dropped as soon as I typed it.
Cashin's prediction was right with regard to the rally and ensuing drop. Buy the rumor, sell the news as they say. |
The market is completely insane. I'm young and have yet to open an IRA to start saving for retirement. This year was going to be the year, but it is such a petrifying time to enter the market. I'm just glad my procrastination prevented me from entering last year like my accountant told me too. It'd take me 10 years to make up those losses. |
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11-07-2008, 11:43 AM
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#4
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Great White Scup Hunter
Join Date: Nov 2006
Location: In the Corner...
Posts: 2,251
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Quote:
Originally Posted by JohnnyD
The market is completely insane. I'm young and have yet to open an IRA to start saving for retirement. This year was going to be the year, but it is such a petrifying time to enter the market. I'm just glad my procrastination prevented me from entering last year like my accountant told me too. It'd take me 10 years to make up those losses.
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My suggestion,,, Don't wait,,, but who am I anyway,,, |
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11-07-2008, 12:42 PM
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#5
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Respect your elvers
Join Date: Mar 2004
Location: franklin ma
Posts: 3,368
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Quote:
Originally Posted by GattaFish
My suggestion,,, Don't wait,,, but who am I anyway,,,
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I wouldn't wait, either. Most of my current holdings were purchased during the post internet bubble burst era. The indexes nearly doubled in those seven years that followed as did my accounts. Although I've gotten banged up a bit lately like many others  , I'm still well ahead of where I'd be in cash or bonds. Waaaaay ahead of where I'd be had I done nothing at all. If your employer offers a match, you're crazy not to participate. You still have to live with the market fluctuations and think long term.
Everyone has a vomit taste in their mouth right now over the economy, but you need to look past it. It's tough to be optimistic right now, but history says you should be buying. |
It's not the bait
At the end of your line
It's the fishing hole
Where all the fish is blind
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11-07-2008, 11:39 AM
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#6
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Great White Scup Hunter
Join Date: Nov 2006
Location: In the Corner...
Posts: 2,251
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Quote:
Originally Posted by Back Beach
Its almost as though the market dropped as soon as I typed it.
Cashin's prediction was right with regard to the rally and ensuing drop. Buy the rumor, sell the news as they say. |
 Art Cashin is the man,,, |
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