Dow

[Bill Hagan]

****

I think the key is not to panic.
Gian4   

Yup.

****

Good news is why all you old baby boomer farts are sucking down the rest of SS I'll still be working for you.  At least until I move to Costa Rica.

On behalf of OBBF everywhere, thanks. 

Bill

[elvisboy77]

Buy high, sell low.  That is my secret of success.

[Lannis]

Two Griso's or a Griso and a Norge for me.  Ouch I shouldn't have looked....

Good news is why all you old baby boomer farts are sucking down the rest of SS I'll still be working for you.  At least until I move to Costa Rica.

The bad news for YOU is that I'M double dipping on you.   You've got to keep Social Security funded AND our company pension in the black.

Tough job but someone has to do it.    I've quit!!   

Keep those cards and letters coming to my mailbox ....           

Lannis

[RinkRat II]

  I'm In It For The Long Haul, I'm In It For The Long Haul, I'm In It For The Long Haul..........

     Paul

[zedXmick]

When the Dow was +18000 a couple of months ago,I told my advisor to move 2 1/2 years worth into cash. Glad I did...the rest is in stocks with sound dividends and some bonds. Even if your paper losses are huge,the number of shares haven't changed and your dividends will buy more shares over time. I won't even look at my account during any downturn. Don't panic...been through 1987,2001 and the 2007-08  meltdown. Of course if it takes more than 2 1/2 years to recover I'm screwed.  Wally World is always hiring. In the meantime   

[John Ulrich]

The market "reset" to January levels.  Get off the ledge and shut the window! 

[father guzzi obrian]

got caught off guard this time, just like the dot.com in 2000, and the bust in 2007/2008.  I followed the dotcom all the way down, but it had no legs. I called my guy, he said panic selling equals permanent loss, so I will ride this out for a while. I have a number where I get excited, but until then, I will just watch from the sidelines..... I figure I can always buy a motor home and live near Pete in Australia and fetch parts for him...... He likes Bren.... (:

[rocker59]

Sounds like a good time to buy!  The market has been on a strong run for the past seven or eight years. 

Lots of amplitude, but a look at a long-term graph tells the tale:

[Nic in Western NYS]

Dollar cost averaging.

[LowRyter]

NIC, DCA is a good policy but some of us are retired now and those additional are no longer available for regular investments

[Sasquatch Jim]

I'm going to pull everything out of my 401K, buy gold, and bury it in coffee cans in the back yard.

 Coffee cans rust, besides buying that much coffee is very expensive.

[Penderic]

How about one of those big steel pipes turned into a nice home err shelter?


A little paint, some curtains ..... 

[Stormtruck2]

Moved stocks to cash last week to hold gains made so far this year.   Sitting on cash though September and October then will be looking to see if the bottom is in sight.  May short some technical stocks but waiting for a little clearer view.  If tomorrow is 500+ point dive, it will be ugly for a while.  I am looking for an up day, getting to the end of the month, portfolios have to be balanced and closed for the month. Managers will be looking for bargains.

[trippah]

It really is just gambling, but since it is legal: sell now and buy in a few months wen it bottoms out.  Of course, I am probably the  guy with the smallest stock portfolio..$0.00     

[O]

But whatever, WHATEVER, you do, don't sell that Guzzi.

 

[John Ulrich]

Moved stocks to cash last week to hold gains made so far this year. 

The man with the crystal ball comes thru again!  This could only mean your hoarding Centauro's will signal a Centauro buying frenzy coming soon?   

[Nic in Western NYS]

NIC, DCA is a good policy but some of us are retired now and those additional are no longer available for regular investments

Yup.  Better policy the younger one is but still is ok if you're going to be in the market for 10 years more or so.

[Stormtruck2]

Look for a 300 point up day today.

[blackcat]

Look for a 300 point up day today.

Yep, and if the Fed indicates they won't raise interest rates in the next few weeks the market will bounce back even higher.

[segesta]

China reduced interest rates, so yeah, look for a 500+ point Dow open.

[Stormtruck2]

Yep, and if the Fed indicates they won't raise interest rates in the next few weeks the market will bounce back even higher.

Futures last I looked point to a big up day..

China reduced interest rates, so yeah, look for a 500+ point Dow open.

I don't believe they will raise rates.  Low rates are the main support for the market, raising them will knock 90 % of the props out from under the marketed.  Eventually they have to and then the  huge correction /crash will come. Market is still overpriced.

[charlie b]

If you can't manage a 1000 or 2000 point loss you should not be in the market.

[Stormtruck2]

People get all bound up about the change in points. How much the market is up or down point wise is irrelevant. What's important is the percentage change. A 100 drop when the market is 17,000 is much different than when it is 1,000 or 10,000.

[slowmover]

Didn't they make Agent Orange during the Vietnam war?

[blackcat]

People get all bound up about the change in points. How much the market is up or down point wise is irrelevant. What's important is the percentage change. A 100 drop when the market is 17,000 is much different than when it is 1,000 or 10,000.

Computers,etc. were some of the problems in this drop along with most trader's being out of town for the usual August run to the Hampton's or wherever they go. From what I understand the link to China's stock market is thin but the US market was anticipating a correction so why not now. Anyway, a quick look at the market has the Dow up over 400pts.

[oldbike54]

 The only Dow Jones I am aware of is the fella they named a road after in Northwest Arkansas , never knew he had any influence on high finance  Hmm , wonder if his grand kids would remember
me ?

  Dusty

[cruzziguzzi]

Breast implants, Agent Orange, plutonium triggers... styrofoam and Poly-everything, what's not to like?

Well, OK, Bhopal and yeah, Agent Orange - the new brown - are lesions on the company's public face but how 'bout that those sealants?

Todd.

[not-fishing]

Gas prices are going down 

Not in California - because we're so special

For me I'm buying more Apple Stock for a short run.

Lieutenant Dan got me invested in some kind of fruit company.

-- I did that a little before the movie came out.

[rodekyll]

Breast implants, Agent Orange, plutonium triggers... styrofoam and Poly-everything, what's not to like?

Well, OK, Bhopal and yeah, Agent Orange - the new brown - are lesions on the company's public face but how 'bout that those sealants?

Todd.

I really was trying to get ideas for my roofing adhesive.

[Bill Hagan]

I would say tomorrow will tell the tale. It broke through long time support today.. if it goes down again tomorrow, it'll sell off.

****

Your reputation as a Wise Old Man and as an Ace Stock Market Analyst will be either made or broken forever this week ..... 

Lannis

So, Chuck, will you be doing a webinar for wildguzzisti anytime soon? 

Bill


[edited because I am compelled to do such things.    ]