Author Topic: stock market drops 400! (Read 17184 times)

mercaz1 · « **on:** August 04, 2011, 03:34:00 PM »

does anyone believe this?
its crazy out there
just had to vent a little

Chaikel · « **Reply #1 on:** August 04, 2011, 03:41:02 PM »

It's exactly what happened in 1929. First a moderate crash, then the big one.

Many analysts have been predicting it for over a year.

yaakov s · « **Reply #2 on:** August 04, 2011, 03:50:16 PM »

And I thought its time to send in money because of the debt deal

Chaikel · « **Reply #3 on:** August 04, 2011, 03:52:44 PM »

Quote from: yaakov s on August 04, 2011, 03:50:16 PM

And I thought its time to send in money because of the debt deal

What deal?

yaakov s · « **Reply #4 on:** August 04, 2011, 03:53:59 PM »

Chaikel · « **Reply #5 on:** August 04, 2011, 03:54:26 PM »

Quote from: yaakov s on August 04, 2011, 03:53:59 PM

Exactly

mercaz1 · « **Reply #6 on:** August 04, 2011, 03:56:35 PM »

the only ppl who made money today were those who had invested in gold the past few weeks
i wonder ho long that will last though?

yaakov s · « **Reply #7 on:** August 04, 2011, 03:57:27 PM »

Just wish I have more money to invest no time like when the market is down!!

Chaikel · « **Reply #8 on:** August 04, 2011, 04:03:10 PM »

Quote from: mercaz1 on August 04, 2011, 03:56:35 PM

the only ppl who made money today were those who had invested in gold the past few weeks
i wonder ho long that will last though?

And people who were smart enough to short. I'm sure a lot of ppl did. It was a little bit of a no brainer

mercaz1 · « **Reply #9 on:** August 04, 2011, 04:08:38 PM »

im sure some ppl though thought that the market would rebound a little from the last week. no one was expecting this big a drop today. this wiped out all of the 2011 gains so far

Chaikel · « **Reply #10 on:** August 04, 2011, 04:11:22 PM »

Quote from: mercaz1 on August 04, 2011, 04:08:38 PM

im sure some ppl though thought that the market would rebound a little from the last week. no one was expecting this big a drop today. this wiped out all of the 2011 gains so far

Don't worry, it's not over yet. We're gonna hit the stop and soon. Wouldn't shock me if it was tomorrow, but more likely next week

elikay · « **Reply #11 on:** August 04, 2011, 04:12:59 PM »

if I'd have the money I'd dump it in

Chaikel · « **Reply #12 on:** August 04, 2011, 04:16:13 PM »

Quote from: elikay on August 04, 2011, 04:12:59 PM

if I'd have the money I'd dump it in

Time will tell

elikay · « **Reply #13 on:** August 04, 2011, 04:21:31 PM »

as always, but in the long run its definitely a good time to get in (admittedly we may still go lower first).

yaakov s · « **Reply #14 on:** August 04, 2011, 04:25:58 PM »

BTW it dropped over 500

elikay · « **Reply #15 on:** August 04, 2011, 04:28:05 PM »

by now.

Avid Reader · « **Reply #16 on:** August 04, 2011, 10:22:07 PM »

Quote from: Chaikel on August 04, 2011, 03:41:02 PM

It's exactly what happened in 1929. First a moderate crash, then the big one.

Many analysts have been predicting it for over a year.

All this on Obama's B-day. How perfect for the man who promised change...

Cholentfresser · « **Reply #17 on:** August 04, 2011, 10:22:32 PM »

Quote from: Avid Reader on August 04, 2011, 10:22:07 PM

All happens on Obama's B-day. How perfect for they guy who promised change.

LOL

AsherO · « **Reply #18 on:** August 04, 2011, 11:42:22 PM »

Quote from: Avid Reader on August 04, 2011, 10:22:07 PM

All this on Obama's B-day. How perfect for the man who promised change...

I didn't realize that, what a nice present from Wall Street, serves him right.

U-no-me! · « **Reply #19 on:** August 04, 2011, 11:49:35 PM »

don't get so worked up (unless you're on margin). it's normal to have a correction, the question is where the bootom is? but mid to long term this a great buying opportunity. there is no question the economy is moving up albeit slowly, corporate profits are rising sharply it's normal in such a scenario that corporations will take the plunge and start hiring.
What your seeing is panic selling, the markets are oversold.
as warren buffet says "be greedy when others are fearful and fearful when others are greedy".