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Don't look now but DJIA made it to 300 down on theday. n/t

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HereSince1628 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 11:48 AM
Original message
Don't look now but DJIA made it to 300 down on theday. n/t
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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 11:50 AM
Response to Original message
1. Yup. It busted through that 13,000 psychological (numerological) floor like a bunker-buster.
Edited on Thu Aug-16-07 11:52 AM by TahitiNut
:shrug: Let's have a moment of pity for the "investor class" ... and the collateral damage wrought by our own perfidy.


It shouldn't take a rational person more than a moment to see the insanity in a 'market' where numerology and other superstitions reign.

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cliss Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 12:05 PM
Response to Reply #1
9. One of the best assessments I've read
about the stock market was over at the Daily Kos. One reader posted his opinion, writing that "the stock market will see some wild swings, up and down, ENORMOUS swings. Everyone will eventually lose everything, because of the wild gyrations.

It made sense to me because you have that "down slide" and then you have the "bargain hunters" who go in when it's down, and bring it back up again. He said it would continue for about 5 years.

Roller coaster ride.
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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 01:19 PM
Response to Reply #9
13. It's "The Grand Pump & Dump" crowd.
After all, this is the crowd who've been deified for the last 25 years.

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ProdigalJunkMail Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 11:51 AM
Response to Original message
2. i think computer trading will be halted soon...is it 500pts?
is that the floor before automated trading stops? This is ugly...

sP
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DemocratSinceBirth Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 11:54 AM
Response to Reply #2
5. I Think You Need A 10% Drop...
eom
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NMDemDist2 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 11:51 AM
Response to Original message
3. ya beat me by one second
:spank:
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AlCzervik Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 11:52 AM
Response to Original message
4. major correction underway and if continues at this rate the bears will be out
and da bulls will be running----away.
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ChairmanAgnostic Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 11:56 AM
Response to Reply #4
6. "major correction" as though something was wrong before
translation, those who got in and out, got REALLY RICH, Those still in now are seeing, not a correction, but a disaster.
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AlCzervik Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 11:57 AM
Response to Reply #6
8. it's going to be ugly, i'm one of those thats still in, my 401k or whats left of it
is taking a beating and the few stocks i own are also getting hammered but i'm holding, at this point there is no point in selling.
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dmallind Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 12:26 PM
Response to Reply #8
10. Why?
Your 401K would only be taking a beating if you funded it only in the last few months when the market was higher than it is now.

If you have been contributing to that 401K for more than those few months you still have plenty of gains to play with. Heck I have been in my current job just 11 mmonths and my rollover is even now worth about 4% more than it was when I transferred. Sure I'm down a further 11% from the high point a few weeks ago, but that is losing gains, not losing value from what it cost me.
If I actually went back and calculated over the 12 years or so I've had a 401K what I paid in and what I have now the gains would be astronomical still, as it includes plenty of buying at 8, 9, 10K DJIA levels and very little at 13K+ (not that I'm in a DJIA index fund - most of mine is in mid cap value with the rest spread around several other fund types - but the DJIA is the index everybody seems to know and remember). This of course even excludes the matching from employers and tax benefits. 401Ks are built in dollar cost averaging, and over the long haul that usually works out to nice gains.

This is only a cause for wailing for those very few 401K investors who need to retire now, and only for them to the extent that they wish to or have to withdraw. This too shall pass. Anyone predicting a permanent crash is blowing smoke - we have a far greater number of investors now than in 1929, and almost all of them are in 401K plans etc - which guarantee billions and billions of dollars a month going into buying equities. And even if we did get a 1929 crash it would be far shorter than the few yeasr it took (counting dividends etc) to regain value. A huge number of investors, both individual and 401K - would just see that as a buying opportunity like we did the silly panic drop after 9/11.


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HereSince1628 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 11:57 AM
Response to Reply #4
7. DJIA is down 10% from 14000, ten percent was everyone's magic
number for a correction.

So...it's time to turn our hats inside out and hope for a rally.
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Jack Rabbit Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 12:29 PM
Response to Original message
11. News flash: Elivis is still dead after 30 years
Film at 11.
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madinmaryland Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 12:53 PM
Response to Reply #11
12. Abe Vigoda is still alive after 86 years!
:P
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dmallind Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Aug-16-07 03:34 PM
Response to Original message
14. and it closed down 15....
Edited on Thu Aug-16-07 03:35 PM by dmallind
A reminder that this is what has happened to the Dow in the last 35 years. Could another correction as bad as 87 or 2001-02 be due? Possibly. But again we see the impact of an entire generatiuon of dollar cost averagers...

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