PearlwhiteS2k

I agree

AZDavid

[QUOTE=jerrypeterson,Sep 17 2008, 05:34 PM] The market is off 20% for the year and it sounds like people are going to start jumping out of windows.

ExOdy

I've been in and out of the SKF everyday with good % gains here and there but definitely no where near enough to prop my portfolio up at all.

Any investors from the tech bubble? How does this compare?

I was only paper trading back in those days...

PearlwhiteS2k

Nope, I was too young to remember the dot com burst. So when do you guys suggest picking up more stocks now or wait till we get a small rebound?

aklucsarits

This is much, much worse than the "tech bubble" burst. Only a small number of narrowly focused companies were significantly impacted in the long term by that. This is much worse than the Asian credit crisis of the 90s. There were significant short term impacts from that crisis in the world markets, but the major impact was mostly localized.

What we are watching today looks like the collapse of the only industry that the USA is still completely dominant in: investment banking. This is not a US credit crisis. This is now a global credit crisis.

Andrew

sleeper_s2k

if you're buying, any thoughts on safe havens as we seem headed for recession/doom/end of world? MO? GLD? gold miners? is holding cash a safer bet at this point?

martha

Every time I think something is a fantastic buy, it moves lower. At this point, I'm hanging on to what little cash isn't already invested in losers, and waiting for a serious sign that this thing has turned around. That could be tomorrow or it could be 10 years. I have no idea.

mister_two

As far as when to get back into the stock market, does anyone here read James B. Stewart's column in the Wall Street Journal. He writes a column every Wednesday, I try to read it when ever possible. Unlike many other columnist he gets very specific as to what he's buying/selling and call/put options to hedge his bets. He has very strict buy/sell discipline based on the Nasdaq index, ie, buy when the index is down 10% and sell when it's up 20-25%. In yesterday's column his next buy signal is when Nasdaq is down to 2050.

I have already started a little buying in my Roth IRA account. Maybe it's a little early but it's impossible to call when it's the bottom.

martha

I don't mind missing the absolute bottom, and I assume that I will. I just don't want to miss it by 2 years and 5,000 points. (hopefully a HUGE exagertion)

cthree

Today is an excellent day to start picking up some stocks. There are plenty of bargains to choose from. I'd remember however that the market is still risky and can turn on you so don't bet the farm. Getting greedy is more likely to hurt you then help you.

You can short gold to help pay for it.

My preference would be to buy some severely beaten down names, I like RIMM and AAPL in tech, transocean, first solar. Stay away from banks. To top it I'd be selling calls in GLD or the gold futures calls (if you can trade those).

Those are my picks for the day.

Overall much of the baking risk has stabilized. There will still be problems and still be turmoil but the new look of the banking sector I think now offers some level of stability. Much of the overhang has been reduced.