02-17-2009, 21:39
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#1
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Area Commander
Join Date: Jan 2004
Location: VA
Posts: 1,149
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Dow drops another 297 points
Anyone ready to buy stock yet?? 
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AngelsSix is offline
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02-17-2009, 22:21
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#2
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SF Candidate
Join Date: Dec 2006
Location: SC
Posts: 811
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I was considering selling all my stock and buying acreage in the mountains for when it all burns down... 
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Defender968 is offline
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02-17-2009, 22:41
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#3
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Area Commander
Join Date: Jun 2007
Location: San Antonio, Texas
Posts: 2,760
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We're at a critical support level. If it holds, we've formed a double bottom, and we have a chance for a nice rally.
If it breaks, then Dow Theory indicates continuation of a bear market - and Dow 5500 or less is possible.
We may drift upwards a few days, but any hard drop from current levels is likely to have nasty consequences.
That mountain acreage might be a nice place to stay for awhile...especially since rumor control hints at up to 3 million more job losses next quarter... LINK
Pleasant dreams.... 
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Carpe diem quam minimum credula postero
Acronym Key:
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YMMV: Your Mileage May Vary
ETF: Exchange Traded Fund
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nmap is offline
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03-05-2009, 19:37
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#4
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Quiet Professional
Join Date: Jul 2007
Location: Nashville
Posts: 974
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Reply
Quote:
Originally Posted by nmap
We're at a critical support level. If it holds, we've formed a double bottom, and we have a chance for a nice rally.
If it breaks, then Dow Theory indicates continuation of a bear market - and Dow 5500 or less is possible.
We may drift upwards a few days, but any hard drop from current levels is likely to have nasty consequences.
That mountain acreage might be a nice place to stay for awhile...especially since rumor control hints at up to 3 million more job losses next quarter... LINK
Pleasant dreams.... |
And please tell us when to buy?
From the WSJ"
http://online.wsj.com/article/SB123604419092515347.html
The Dow has lost 3K plus points since Obama took office.
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alright4u is offline
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02-17-2009, 23:07
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#5
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Area Commander
Join Date: Nov 2005
Location: Cochise Co., AZ
Posts: 6,208
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Quote:
Originally Posted by AngelsSix
Anyone ready to buy stock yet?? |
I've been buying all along. It's a fire sale. This is when wealth is made.
But that's just me.
Pat
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"Hector Lives!"
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PSM is offline
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02-18-2009, 00:16
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#6
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BANNED USER
Join Date: Dec 2008
Location: New York
Posts: 353
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Quote:
Originally Posted by AngelsSix
Anyone ready to buy stock yet?? |
The only stock picks that have my interest are emerging technologies and companies whose price is worth next to nothing on bankruptcy fears that probably won't materialize.
I've had my clients on a portfolio aimed at growth during a depression since late in Sept.
I haven't found any emerging tech I like.
There were companies in the American auto and financial industries that I felt were oversold. Did well with Ford and missed out on the financials. Last friday I was torn over SIRI because Mel Karmazin said that the reports they could be filing for bankruptcy today was false. I passed and it was up 100% at one point this morning...
I'm in precious metals, agricultural commodities, treasuries and foreign currency now.
Last edited by 6.8SPC_DUMP; 02-18-2009 at 14:24.
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6.8SPC_DUMP is offline
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02-18-2009, 07:04
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#7
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Area Commander
Join Date: Jun 2007
Location: San Antonio, Texas
Posts: 2,760
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6.8SPC_DUMP, personally, I would wait to see how the current fight between bulls and bears turns out...however...what do you think of the biotech ETF, symbol PBE?
Technicals look so-so, but weakening, with MACD and RSI going the wrong direction, but the MA's still OK, IMO.
Chart Link
__________________
Carpe diem quam minimum credula postero
Acronym Key:
MOO: My Opinion Only
YMMV: Your Mileage May Vary
ETF: Exchange Traded Fund
Oil Chart
30 year Treasury Bond
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nmap is offline
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02-18-2009, 12:44
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#8
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BANNED USER
Join Date: Dec 2008
Location: New York
Posts: 353
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Quote:
Originally Posted by nmap
6.8SPC_DUMP, personally, I would wait to see how the current fight between bulls and bears turns out...however...what do you think of the biotech ETF, symbol PBE?
Technicals look so-so, but weakening, with MACD and RSI going the wrong direction, but the MA's still OK, IMO.
Chart Link |
I don't like ETF's. They are great for a DIY portfolio if the sector is strong and the market is solid. I think there will be tremendous opportunities in the future from this industry, but they won't be realized from an ETF. This one has vastly under performed QQQ/Spiders recently. No easy way to pick the winners. I just try to stay on top of what is being developed, sort out the 20 different expert opinions and see what makes sense i.e. has a future market segment and buy after it is developed but before it is introduced to the market.
I'm also worried about the valuation of the dollar. If the dollar falls 20% in relation to another currency but your stock is up 20% you are flush either way. I try to keep things as simple and safe as possible now.
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6.8SPC_DUMP is offline
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02-18-2009, 12:59
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#9
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Area Commander
Join Date: Aug 2008
Location: Southern California
Posts: 4,482
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While I watch the conversation between nmap and 6.8SPC go over my head  , I am wondering if anyone else has noticed the recent trend the last couple of weeks in which a member of the current administration makes public comments and then the Dow starts to drop? Yes, correlation is not causation but maybe the president could work some of his mojo on the skeptics rather than just preaching to his base. 
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Sigaba is offline
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02-18-2009, 17:49
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#10
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Area Commander
Join Date: Jan 2004
Location: Midwest
Posts: 7,135
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Quote:
Originally Posted by Sigaba
, I am wondering if anyone else has noticed the recent trend the last couple of weeks in which a member of the current administration makes public comments and then the Dow starts to drop?
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I had a similar thought, the Dow dropped after the President's announcement on his new housing plan.
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