Official Stock Market & Economy Thread

[andycrazn]

Originally Posted by TBONE95860

Originally Posted by andycrazn

whats going on. its been red for the past few days.

And will continue to be in the red.

First it was 8,000.... then it was 7,500..... next is 7,000..... after that, likely 6,500

damn i kinda figured that. but for every couple of days of red we saw green and iits been that pattern for like 2 months. fear is getting the bestof us.

 

[fede dpt]

I knew with the mention of Nationalization would kill today.

Lets be optimistic for 5 minutes and assume a best case scenario where the banks don't become completely nationalized and we gain some economic stability and possibly start the upswing, are there any jobs you recommend someone coming out of college take in the finance industry by say 2011? Or should i just stick to engineering.

It's cool to be optimistic, but you have to be realistic. Today was a HUGE step to Socialism.


"Gov't can only control the Economy if they control the People." Ronald Reagan.

"Economic Freedom promotes Political Freedom, not the other way around." Milton Friedman.

And when Obama quotes like "Only Fed Gov't Can Jolt US Economy", that scares the hell out ofpeople.

 

[lazyj10]

Originally Posted by ThrowedInDaGame

NT bankers or anyone who works in the financial industry right now, especially any of you who work for a firm on "the street".

Lets be optimistic for 5 minutes and assume a best case scenario where the banks don't become completely nationalized and we gain some economic stability and possibly start the upswing, are there any jobs you recommend someone coming out of college take in the finance industry by say 2011? Or should i just stick to engineering.

Is Investment Banking done...forever? 2007 bonus season was crazy. Goldman Sachs 1st yeat analyst/i bankers coming through with 90-100k like it was nothing. Is that era over? Hedge funds? Anything? Where is the bonus money going to be? Predictions?

Thanks.

That era is gone. As soon as the investment banks had to change their charter to a "Bank holding" company, they effectively became moreregulated. Only time will tell if they can revert back to the way it was (through loopholes, favorable legislation, favors), but most claim those days areforever changed. I'd imagine traders who negotiate to keep a share of profit on trades will make out the best.

 

[thagreatj]

Originally Posted by keiththekid1

Be very carful on Gold guys, i am sure a large pullback is coming. I am taking profits on my gld position today.

Here are some good thoughts on when to buy Gold.

1) It is above $1000
AND
2) you can still here the sounds of whole countries imploding in the distance. This would be visible in the FX markets... where major currency pairs would start going absolutely ape**** AND multiple, global financial institutions start collapsing SIMULTANEOUSLY (Lehman style, despite the best efforts of central banks and governments). We need to see Iceland like conditions in some larger countries (europe..)

Otherwise the risk of watching gold go cliff diving is actually VERY large...

Is this something i should be worried about. (im in it for the LOOOONg haul talkin years)
Im looking to just make gains over time, not % gains daily like you guys seem to be doing.

someone let me know please.

 

[wawaweewa]

We need that monster day down (5%+) then we'll prob rally. I'll buy into the capitulation but still with tight stops. This market's somethin else.
6 months ago I pulled 6800 out of my *%+. We'll see what happens.
I think breaking 7k is assured.

GE is a dog.

 

[reigndrop]

Market's been crazy the past few days. Investment fund managers dumping shares of each other companies left and right. This is starting to sound clicheishbut stay out of financials. BTW Barron's had a good little read on gold, when gold is worth more than the S&P, it outperformed the S&P 2.5:1 in thethree previous cycles. We're at 1.25:1 right now, so a lot potential to the upside.

 

[nicefro]

waitin' for this charles nenner bounce.

 

[finnns2003]

i bet dudes are really ending themselves over what's happening right now. losing your job, all your savings/investments, possessions, etc.

 

[nicefro]

hell yeah luckily i have plentyyyyyyyyyyy of time to make back my losses.

who wants to loan me two grand?

 

[reigndrop]

DKY, can I hear you thoughts on Prudential? I know that Fitch cut their credit rating and they got cut off from the Commerical Paper Program... can we seesingle digits in the near future?

 

[nnarum]

Originally Posted by finnns2003

i bet dudes are really ending themselves over what's happening right now. losing your job, all your savings/investments, possessions, etc.

It's not that serious if you come to the realization that money is just paper. Life is more than money.

 

[finnns2003]

Originally Posted by nnarum

Originally Posted by finnns2003

i bet dudes are really ending themselves over what's happening right now. losing your job, all your savings/investments, possessions, etc.

It's not that serious if you come to the realization that money is just paper. Life is more than money.

eh, i mean that's the way it is for some. you lose your job, you lose your source of income, you may lose your standard of living... somepeople can't cope with it, especially if they have a family. remember dude who shot his 3 kids and his wife, then himself? for some, a job and money arethe difference between a good life and a bad life.

 

[nicefro]

true *%#%, and with the dow near 7,000 it's a bad life for many right now

 

[finnns2003]

Originally Posted by nicefro

true *%#%, and with the dow near 7,000 it's a bad life for many right now

i'm sure the suicide rate will go up this year.

 

[freakydestroyer]

we're so done

 

[banks2pierce]

Think 3k still, and for wawawewa, those are not my words.

 

[nicefro]

futures up, but weren't they yesterday as well.

 

[wawaweewa]

Originally Posted by nicefro

futures up, but weren't they yesterday as well.

Gap ups are bad for the market as crazy as that sounds.
We need either a big gap down and then a reversal or an intra day reversal to see any tangible rally. Even if it is for a few days at most.
Maybe the buyers will show themselves for a few days on a big gap down. Other than that can't help but head lower.

 

[fede dpt]

Still got money in Gold.


You think its bad now? Wait till you see this guy raise Taxes on businesses and small businesses in 2010, then you will see a serious drop.

 

[nicefro]

100 points up.

 

[nicefro]

why does it matter if the small business is operated by women, did he really say that?

 

[nikeairsncrispytees]

Originally Posted by Fede DPT

Still got money in Gold.


You think its bad now? Wait till you see this guy raise Taxes on businesses and small businesses in 2010, then you will see a serious drop.

His original game plan actually calls for tax cuts for small businesses--especially for those owned and operated by women.

I'm all about supporting womens' rights, but business is nothing without competition. I'll just keep my feelings on this to myself...

 

[superantigen]

Originally Posted by nicefro

why does it matter if the small business is operated by women, did he really say that?

Does it even matter...

All I know is that dude (Fede DPT) seriously needs to relax and stop being just another political drone...

I mean everrrrrything that he says has some bias and attack in it...

We get it, "this is all OBAMA'S fault"...now give it a rest,

 

[fede dpt]

Originally Posted by SuperAntigen

Originally Posted by nicefro

why does it matter if the small business is operated by women, did he really say that?

Does it even matter...

All I know is that dude (Fede DPT) seriously needs to relax and stop being just another political drone...

I mean everrrrrything that he says has some bias and attack in it...

We get it, "this is all OBAMA'S fault"...now give it a rest,

I'm not placing blame on Obama, this recession isnt his fault. What I am against his way of fixing this mess.

He's doing the same thing FDR did to prolong the Depression. Gov't intervention in the Free Market doesnt work, never has and never will.

Political Drone? I'm part owner in a private practice, so if anything I have a say in what happens to my tax dollars in order for me to expand my businessto treat more patients.

Calm the attacks, kid.

 

[nikeairsncrispytees]

Originally Posted by nicefro

why does it matter if the small business is operated by women, did he really say that?

Yes. It was on his website. It's to further advance the female gender because they statistically lack in the business world and it's wellknown that some businesses pay women less. While the idea is pretty and peaceful and all that, if you prolong the life of a business that's noteconomically sound with free government money (whether it's run by a woman or a man) you're interfering with competition and may put out of business abetter competitor because it's run by a man without help from the government.

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...Bring on the Wal-Mart haters...