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Old 10-06-08, 09:31 AM   #1
Alfster 
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Market Crashing

Well maybe not crashing, but it's sure taking a beating this morning. Anyone buying some cheap stocks? If so, which ones?

Dow down 379 points
TSX down 704 points (Ouch!)
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Old 10-06-08, 09:33 AM   #2
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I think the time to buy is when it's landed, not on it's way down.
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Old 10-06-08, 09:36 AM   #3
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I just checked my portfolio...when the market comes down, my breakfast comes up
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Old 10-06-08, 09:37 AM   #4
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you get numb after awhile....
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Old 10-06-08, 09:44 AM   #5
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Originally Posted by alfster
Party Crashing
fixed.

Parties are more fun than recessions.
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Old 10-06-08, 09:46 AM   #6
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I think the time to buy is when it's landed, not on it's way down.
I usually try to buy very short term positions during these heavily down days. There is invariably a bounce within a day or two. No I'm not a day trader, but I do take advantage of days like this. The most appealing stocks to me are the oversold small caps. They usually take a stronger beating than the large caps during panic selling. They also tend to rebound quicker. You just have to be careful to buy one that typically has a large number of shares traded daily to avoid being trapped into holding them for a long period of time. Having said that, I could lose my shirt today However I'll make sure it's just a ratty old T-shirt
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Old 10-06-08, 09:55 AM   #7
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hah
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Old 10-06-08, 10:25 AM   #8
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I am staying away from the market for a while. I opened a few positions before the bailout and it's good thing I put in a trailing stop. I don't think this market is done sliding for a while yet.
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Old 10-06-08, 10:26 AM   #9
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I guess if things drop further down into the afternoon, a dead cat bounce is possible.
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Old 10-06-08, 10:38 AM   #10
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stocks are still somewhat overvalued compared to the long term trend. things are not as cheap as some talking heads will lead you to believe.
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Old 10-06-08, 11:24 AM   #11
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FTSE has its biggest one-day drop in 20 years today.

Velly scary.
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Old 10-06-08, 11:32 AM   #12
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FTSE has its biggest one-day drop in 20 years today.

Velly scary.
yep. take a look at russia. down some 20% today.
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Old 10-06-08, 11:40 AM   #13
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Yup. I reckon that if amateurs are still in the market, they are gonna be toast sooner rather than later.

This is a time to stand at the sidelines.
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Old 10-06-08, 11:47 AM   #14
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*****! The Dow's just dropped below 10,000!
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Old 10-06-08, 11:57 AM   #15
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How much longer until Dow 7,000?

For the first time, I'm thinking about selling my international EFT (Down 37% from cost) and putting whats left into a proshares ultrashort. This hurts. :/
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Old 10-06-08, 12:01 PM   #16
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How much longer until Dow 7,000?
At this rate of emergency, not long I reckon.

Take cover!
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Old 10-06-08, 12:19 PM   #17
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Well according to the Wall St Journal, its not a crash, its a "break".

Apparently jsut a way to sugar coat the downward spiral.
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Old 10-06-08, 12:47 PM   #18
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Quote:
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FTSE has its biggest one-day drop in 20 years today.

Velly scary.
percentage or points?

And tim, they suspended trading in the Russia! Second time this year if I recall.
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Old 10-06-08, 01:07 PM   #19
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Fortunately, I was planning on waiting until turning 88 before retiring....
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Old 10-06-08, 01:38 PM   #20
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I just checked my portfolio...when the market comes down, my breakfast comes up
If a single day swing of a few percent can cause you to lose your breakfast, then perhaps it's time to rethink your asset allocation and your investment strategy.
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Old 10-06-08, 03:28 PM   #21
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I stress out too much for short term watching of stocks. Instead, I buy something from a company I really like, and just hold the stock. Once I have a job again, I probably am going to start buying some stocks with each paycheck each month (dollar cost averaging.) IBM is definitely on my list, Apple is pure chaos on the short term, but seems to perform long term. I may also take the risk and buy GM for a couple years to see if the Volt takes off or flops.
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Old 10-06-08, 05:08 PM   #22
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percentage or points?
Points. 391 points. Lost £93.4 billion in value.
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Old 10-06-08, 06:33 PM   #23
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Much like Joe, I am really considering some shorter term(1-3 month) investments in a pro shares short/ultra short such as EEV or the Small cap one.
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Old 10-06-08, 06:56 PM   #24
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The only positive thing that will come out of this is that goofballs will quit putting Wall Street in with the rest of their divine cosmology. I remember at the end of the Nineties, the conceit seemed to be that Wall Street could do no wrong, and then Bush went on to see if he could put Social Security in the stock market. Well, "The Invisible Hand" just went ahead and b!tch-slapped everybody to wake up out of that ****ing dream.

My grandparents grew up in the Great Depression, and my attitude towards Wall Street has always been heavily influenced by them, and you know what? They were right.
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Old 10-06-08, 07:05 PM   #25
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...and you know what? They were right.

That's because we were smarter then.
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