Great entertainment watching a plunge when we have been expecting it for a long time.
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Great entertainment watching a plunge when we have been expecting it for a long time.
mildly entertaining but we need another one of those 1000 point drops in half an hour to really get the popcorn out :D
You Sir are spoiled rotten! ;DQuote:
Originally Posted by uranian
Dow 9,897.96 -357.32 -3.48%
Every DOW drop does seem a little boring after that day, doesn't it?Quote:
Originally Posted by uranian
Edit: spelling.
We may never see anything like that again in our lives, unless we get hyperinflation... Anyhow we got an end of the week solidly below 10k, so I think next week could be very bad... Though serious summer plunges are almost unheard of, I think we may be in for one now...Quote:
Originally Posted by k-os
If you think I sound a bit vague with my predictions, it is because I am not rally sure about anything regarding the market any longer... But I do think it is likely that the plunge will continue next week. However since there are string pullers controlling the market it really is impossible to tell for sure... Heck maybe it always was...
I bought shares at the Hong Kong Stock Exchange two weeks before the Tianinmen Square massacre in 1989... Then at the day of the massacre the market plunged 30%, and the day after it plunged another 23%. It took 2 years before values were back to were we bought the shares. We sold a few days or so before desert storm in Iraq, we figured that stocks would plunge bad when war started... It didn't instead it surged for a couple of weeks especially in HK, probably up about 30% in a months time... We were 4 young guys who bought these shares together, we put in about a 1000 dollars each, a lot of money for us lads at that time, if we had bought a month later and sold a month later we would have tripled our original investment, instead we broke even... However I am pretty sure we never would have bought these stocks a month after the massacre at Tianinmen Square, if we hadn't done it before.
Good learning experience. The thing was that I had read in a business mag what a marvelous opportunity investing in HK would be, Possibly maybe someone 'knew' what was going to happen and decided to get the public to buy these shares, considering what I have learned from how Soros et al is doing business I wouldn't discard the possibility that he or someone did work with chicoms and the students to create the conditions that lead to the crack down on the square... Obviously you can make a fortune shorting a market that plunges 30% one day and 23% the next...
EPIC PROFITS!
As far as I am concerned the stock market is no different than gambling. There are professional gamblers who study poker, horses, football . . . and they bet based on a formula. Sometimes they win, sometimes they lose, but they shouldn't attempt to make a living out of it unless the profits are greater than the losses. I feel exactly the same about the stock market. It's a gamble. To me, it is not a place to "invest" retirement funds. It's a place to roll the dice, cross your fingers and pray.
Don't get me wrong, I enjoy gambling, but I'd rather do it trashed, with a bunch of crazy people in Vegas.
Dow down 323+, it will be a very interesting Monday.
neuro, you remind me of my first foray into the stock market, pretty much as the dot com bubble burst i bought a few shares of lastminute.com. it was a hugely oversubscribed issue of shares, so i got a lot fewer than i'd planned (few hundred quid IIRC), they're still not worth what i paid for them a decade ago! can't recall last time i even saw them, paper shares these were. since learning that approx. half the market is naked shorts (aka shares that don't really exist), i have ever less reason to "invest" in promises to pay.
DOW Futures for Monday already 300 down! LOOK OUT BELOW!
http://money.cnn.com/data/premarket/index.html