The market tanks again..........

ANGRYCivilian · Post by **ANGRYCivilian** » October 10th, 2008, 5:17 am

EarthPig wrote:
Ranger Luna wrote:
Ranger Bill wrote:$3.00 a gallon gas in Michigan and General Motors stock is is about twice that...
We just dropped below 3. We are sitting around 2.90.
$2.78 is the cheapest I've seen in the last two days.

RLTW
EP

Why is it going down? This looks like a bad omen to me.

BruteForce · Post by **BruteForce** » October 10th, 2008, 5:29 am

ANGRYCivilian wrote:Why is it going down? This looks like a bad omen to me.

Market decline and lack of demand. I would "assume" that with more people using public transit (due to cost of gas), more hybrid/electric cars on the road, this trend will continue.

As I've heard, the devaluation of the dollar is helping the price go down too, but I'm just not smart enough to understand how that works.

smokn38 · Post by **smokn38** » October 10th, 2008, 8:21 am

BruteForce wrote:So with the market being down over 30%, what are you doing with your investments and/or 401k portfolios?

Those of you that have 401k's, are you continuing to invest or are you getting liquid?

---

As for me, I'm going to sit tight on the 401k investments I have, but I'm going to temp. cease further payroll deductions and instead get liquid (cash) on the money I would have otherwise invested.

As for my stocks (Etrade), I'm already down over 40% across the board, so selling now really isn't an attractive option - and the companies I invested in are for the long term anyway; most have EPS over 2.xx/share.

I will continue to invest at the rate I am right now. My investments are all for the long term. I quit being real agressive about two years ago, and have a pretty moderate portfolio now. I'm guessing right now we are finding the bottom, the Dow may drop into the mid 7000's but I cant see it sustaining below that number for very long. If things changed drastically I would not hesitate on shutting down my personal contributions to draw more cash avery two weeks.

Looon · Post by **Looon** » October 10th, 2008, 12:05 pm

Kiss Capitolism goodbye.

There is talk of the gubment taking over all of the banks in the country. At least enough for them to dictate how things are done.

BruteForce · Post by **BruteForce** » October 10th, 2008, 1:09 pm

Ranger Luna wrote:Kiss Capitolism goodbye.

There is talk of the gubment taking over all of the banks in the country. At least enough for them to dictate how things are done.

Sad but true. They're going to have unprecedented power. Power obtained is rarely relinquished. Perhaps our next POTUS will understand and bring us back to a capitalistic market and not this path of socialism we've taken.

Looon · Post by **Looon** » October 10th, 2008, 1:37 pm

Zonk 1/75 wrote:What is this "market" thing your always talking about? :)

It's where you get your vegitables and stuff.

Looon · Post by **Looon** » October 10th, 2008, 1:38 pm

BruteForce wrote:
Ranger Luna wrote:Kiss Capitolism goodbye.

There is talk of the gubment taking over all of the banks in the country. At least enough for them to dictate how things are done.
Sad but true. They're going to have unprecedented power. Power obtained is rarely relinquished. Perhaps our next POTUS will understand and bring us back to a capitalistic market and not this path of socialism we've taken.

Seeing how it's going to be Obama, I would think it'll only get worse.

ANGRYCivilian · Post by **ANGRYCivilian** » October 10th, 2008, 7:47 pm

Gas: $3.29, and going down a few pennies each day.

CAL · Post by **CAL** » October 10th, 2008, 8:37 pm

BruteForce wrote:So with the market being down over 30%, what are you doing with your investments and/or 401k portfolios?

Those of you that have 401k's, are you continuing to invest or are you getting liquid?

I'm scraping all the extra money I can find together and plan on DCAing it over the next 2 quarters. Although nobody has a crystal ball, I think we're in the ballpark of the bottom of this cycle - now's the time to buy. Also, while most folks are sitting on their cash - I'm also deleveraging. It's time to pay down your outstanding consumer debt.