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Discussion Starter · #1 ·
well after 8% drop in nasdq and 777 point drop in Dow and oil dropping 10% or so what can you do.



oil drops mean , people are not going to use oil for transportation - it means ups does not need fuel, airlines do not need fuel as much. Economy is going south. oil is mainly used for transportation only except for Hawaii that uses it for producing electricity.



what about 401k--- it may be too late but next time it may be a good idea to move everything to cash or cash like choice inside of 401k . Be aware some funds may charge up redemption fee up to 3% for new money .



what else can you do - if you are paying interest on your house at 7% then slow down the 401k contribution and have a guaranty return on your money by paying off the house and avoid the 7% interest on the house . yes you may get matched by company but in a down economy figure what happened to your match ,and if your company files bankruptcy they will take back the match from you…

you may also increase the house equity to 20% and avoid paying the pmi insurance . You can increase the equity by sending money or if the house has increased in value then you may have equity in the house.


the house has to approve the bail out then senate has to approve it then president has to sign it and then 45 days of raising money , it be awhile before the money gets to people.
also the ban on short selling will be lifted on oct 2nd and it may get wild in the market then . currently about 700 companies are on the list of protection against short selling .

this information is a guide - no one ever knows what the market will do , not even the wall street guys can be right all the time. .
 

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Always imitated... never duplicated.
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What level said....

Now is the time to BUY BUY BUY....

There are many companies running at there 52 week lows right now..

If you've got the $$ it's time to MAKE SOME $$$$$.

Good luck!

Jode
 

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Always imitated... never duplicated.
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YEP...

If the company has the fundamentals and stability and you are confident in it's principles then it's time to BUY.

I bought to last week and it's teetering around the same that I paid for it... I've got buys in for it to a certain price.

There are a bunch of good deals out there in my opinion.

J
 

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Internet experts are everywhere. Remember that a good financial advisor will have a license and a track record, not just be some random person on the internet.

Just remember, buying high and selling low makes a person poor. ;)
 

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Take a Deep Breath and BUY!!!!!!!!! In the long run you will be ahead.

I was a buyer all day today.

I will buy more tomorrow if it goes down again.

I am very happy with the bargins I bought today.

I will be even happier with them a few months from now.

Keep some cash on hand, do not margin or over margin and all will be good in the long run.

INVEST ON WEAKNESS. LOTS OF PANIC SELLING OUT THERE CREATING GREAT LONGTERM OPPORTUNITIES FOR THOSE WITH A STRONG STOMACH AND AN EYE ON THE FUTURE.

Bos
If you are down 10% and it is a good solid longterm company then it is time or close to time to double your position and cost average down. So that when it rebounds you will get back to even and begin making money faster.

If you believed in it last week at a higher price why do you not belive in it now even more at a discount price? If it is a solid company it should be a no brainer.
 

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Worldangler
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Unless....

...you are very savvy trader, SIT TIGHT!!! Now is definitely NOT the time to be actively trading unless you are very, very knowledgable.

Anyone would advise to buy this week is smoking something. Financial impacts are not fully realized and the market is going to continue to drop for a while.

The election is a HUGE wildcard and until that is over, you are not going to see much a stabilization.

Yes, there is potentional to make some serious money now - but there's a greater chance of losing - even if you are a short player.

Whatever you do, don't be making changes in your 401k. What many people do not realize is that your fund manager has a great deal of leeway on when to execute your 401k shifts. You can count on 95% of the time they will "officially" log your sale at the lowest point for the fund during the entire quarter and and buy a the highest point - regardless of when you actually make the request.

There are going to be more banks fail. Congress will get bogged in getting a bailout approved, probably until after the election. Expect to see more insurance companies become insolvent.

The BEST thing you can do is hang tight to your job, forgo ANY extraneous expense, and hit your debts as hard as you possibly can and still survive.

If you've lost 8% - be thankful. You might want to lick your wounds and book the loss. There will be a short bounce where stock will rise somewhat in the next 10 days, then there will be 2 or 3 more BIG slides downward. In virtually every sector.
 

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You rarely make money in the short run on the market. My advice is to hold tight or buy, and then just wait it out. In the long run you will make some good returns esp. if you get some good stocks right now while they are low.
 

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Old School
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JohnHumbert said:
...you are very savvy trader, SIT TIGHT!!! Now is definitely NOT the time to be actively trading unless you are very, very knowledgable.

Anyone would advise to buy this week is smoking something. Financial impacts are not fully realized and the market is going to continue to drop for a while.

The election is a HUGE wildcard and until that is over, you are not going to see much a stabilization.

Yes, there is potentional to make some serious money now - but there's a greater chance of losing - even if you are a short player.

Whatever you do, don't be making changes in your 401k. What many people do not realize is that your fund manager has a great deal of leeway on when to execute your 401k shifts. You can count on 95% of the time they will "officially" log your sale at the lowest point for the fund during the entire quarter and and buy a the highest point - regardless of when you actually make the request.

There are going to be more banks fail. Congress will get bogged in getting a bailout approved, probably until after the election. Expect to see more insurance companies become insolvent.

The BEST thing you can do is hang tight to your job, forgo ANY extraneous expense, and hit your debts as hard as you possibly can and still survive.

If you've lost 8% - be thankful. You might want to lick your wounds and book the loss. There will be a short bounce where stock will rise somewhat in the next 10 days, then there will be 2 or 3 more BIG slides downward. In virtually every sector.
BINGO!
 

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Live Like No One Else.
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I have to agree with Levelwind and JShupe. I am buying. I bought last friday which was a few days early so I lost some today. But then again i buy every pay-day so it doesn't matter it the market goes up or down I still buying. The trick is to buy on a regular bases and hold for the long run. My investing is like the turtle "slow and steady" but wins in the end.

I have belief that the market will go back up so I will end up making money.
 

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Discussion Starter · #16 ·
capn said:
Internet experts are everywhere. Remember that a good financial advisor will have a license and a track record, not just be some random person on the internet.

Just remember, buying high and selling low makes a person poor. ;)
well we are not getting paid and we are not looking to make money . isnt that the reason the wall street is in trouble. when money is involved .. watch out . no one should put money in market if they are paying interest on the house . specially since bubble of march 2nd 2000
 

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so, since the hi-tech bubble of 2000, if I pay a house note, I should abstain from investing in the market... interesting advice... good thing for me I can checked interweb for investment advice today... why am I not convinced?
 

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El jefe
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hold your mule

boashna said:
well we are not getting paid and we are not looking to make money . isnt that the reason the wall street is in trouble. when money is involved .. watch out . no one should put money in market if they are paying interest on the house . specially since bubble of march 2nd 2000
hold your mule , and don't be a dooms dayer , the market will fall , but if you have bought solid you will be OK , just wait and make your play when the market is right ! then buy on the good stuff , cash is KING , but buy right when it comes !!!!!
 

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Member..Whats wrong with my member
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I'm buying 10,000 rounds of ammo, 40 cases of MREs and bugging out to my secret hill country cave.


Kelly
 

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Too late to close the gate if down big hurts...that horse is long gone. And considering that EVEN IF they get funding passed tomorrow there is still question as to whether it works, we're probably still not done to the downside.

One of the long conversations you have with a qualified financial advisor involves markets like we're seeing today. It helps you to be proactive and/or patient instead of reactive.

To continue the equine metaphors....I smell horse-chit (panic liquidation) so I know there's a pony around here somewhere (value).

IMHO, I see the following...

If Washington can get out of their own way and get some funding passed, we'll bottom out around 9800ish (500 lower from here).

If Washington can't get out of their own way, the gates of hell start around 8500 and continue to 7500....that's gonna leave a mark but very well may represent the best opportunity many of us are likely to ever see (I hope, lol).

The worst case is complete and total implosion of worldwide markets and we all end up squatting in a ditch shoving berries up our nose....I believe that to be a low probability event and will hold off buying canned beans at least for a couple more days.

In the meantime, I'll sit and ponder how many folks CNBC can get on screen at one time....they're about to pass the Brady Bunch
 
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