Market today - Page 2

timmgirvan · #21 09-15-2008, 04:40 PM

Quote:

Originally Posted by GPK

I'm just an idiot...It was Merrill they bought. No sure why I was thinking it was someone else

not an idiot...with everything flying around..rumors and whatnot..you really can't keep up with all.

dalakhani · #22 09-15-2008, 04:41 PM

Quote:

Originally Posted by jwkniska

Wrong... Merrill is NOT a dow component.

Here's the list of the 30 of them....

http://www.cnbc.com/id/26272770/site/14081545/

You are correct. I was wrong. I had them confused with Lehman.

wiphan · #23 09-15-2008, 04:49 PM

largest drop in 1 day since 9/11/2001

I definitely think there is a lot of guilt by association and there are some good buying oportunities again. It will be interesting to see if the Fed cuts rates now. I personally hope they don't but it may happen

timmgirvan · #24 09-15-2008, 04:51 PM

Quote:

Originally Posted by wiphan

largest drop in 1 day since 9/11/2001

I definitely think there is a lot of guilt by association and there are some good buying oportunities again. It will be interesting to see if the Fed cuts rates now. I personally hope they don't but it may happen

Bro..can you loan me a hundy..(G's)?

wiphan · #25 09-15-2008, 04:54 PM

Quote:

Originally Posted by timmgirvan

Bro..can you loan me a hundy..(G's)?

Go ask the Fed they seem to be the lender of choice. 200 billion to fannie and freddie. It will be interesting to see if they bail out GM next. GM definitely has their hands out waiting...

timmgirvan · #26 09-15-2008, 05:05 PM

Quote:

Originally Posted by wiphan

Go ask the Fed they seem to be the lender of choice. 200 billion to fannie and freddie. It will be interesting to see if they bail out GM next. GM definitely has their hands out waiting...

AAHH...yeah, good point there..prolly hafta wait in a long line. But the IRS is clammering for their(not) 379 bucks cuz my tax guy put the wrong # in my childs' SS # in '06!

2 Dollar Bill · #27 09-15-2008, 05:42 PM

Yikes... My 401k is now 104k !

docicu3 · #28 09-15-2008, 05:52 PM

Quote:

Originally Posted by wiphan

largest drop in 1 day since 9/11/2001

I definitely think there is a lot of guilt by association and there are some good buying oportunities again. It will be interesting to see if the Fed cuts rates now. I personally hope they don't but it may happen

Yeah like GM losing 12% of it's value today is definitely "Guilt by ...." Although the financials are clearly necessary for most people to buy a car this shouldn't have been the value lost. The mind blowing thing about all of this is that we used to think when something (a large Corp.) went bad it would be an erosion but these things AIG,JP Morgan, BOA happened essentially in a single day of trading. I don't think Black Monday had decay like this within hours time. My prayers for the suits trying to make a living with these corporations.

And we think we have bets of consequence on a horse racing site.....how'd you like to be a mutual fund manager today who has to explain why he/she
lost tens of millions with things like GM/BOA and Lehman in your port folio for say a small/midsize pension plan. White collar suicide deaths spiked today in NYC ER's ......crazy **** on the physician hot lines today!!

MaTH716 · #29 09-15-2008, 06:34 PM

Quote:

Originally Posted by wiphan

Go ask the Fed they seem to be the lender of choice. 200 billion to fannie and freddie. It will be interesting to see if they bail out GM next. GM definitely has their hands out waiting...

It's easy when you could just print out however much you need.

#30 09-15-2008, 06:57 PM

I still got the 2 dollars in my pocket.
Nothing leaked out.

Opportunities abound.
The rats come to feed on the carcus of the dead bull.

dalakhani · #31 09-15-2008, 07:33 PM

People talk about opportunities. I agree. But those opportunities are 1 in 10 within those falling knives. You wanna guess a bottom? a near bottom?

philcski · #32 09-15-2008, 08:30 PM

This isn't a stock buying opportunity. Things are much, MUCH worse than the stock market has priced in yet.

#33 09-15-2008, 08:40 PM

Quote:

Originally Posted by philcski

This isn't a stock buying opportunity. Things are much, MUCH worse than the stock market has priced in yet.

It's been a long time comin', eh Phil?

philcski · #34 09-15-2008, 09:07 PM

Quote:

Originally Posted by Coach Pants

It's been a long time comin', eh Phil?

I think it has. Wall Street has brought the blood upon themselves with unrealistic expectations and increasingly exotic and difficult to value transactions.

Having spent 14 hours at the office today trading out of now defunct derivative contracts with said bankrupt broker dealer, I wanna just shoot myself!

Danzig · #35 09-15-2008, 09:12 PM

Quote:

Originally Posted by dalakhani

Correct and that is why the pressure from the govt to get the deal done NOW. Merrill is a dow component. Can you imagine what the market would have looked like without Merrill stock jumping on news of the deal?

The market was doing fine, ranging in the 200's until Paulson spoke...and then it started to tank.

Now the FED is asking (coercing?) Goldman and JP morgan to invest in a consortium to raise capital for AIG. desperate times.

i read earlier this evening on the news ticker that AIG needs $70 billion-yes folks, with a B-to avoid a downgrade on their rating. downgrading of course makes it harder to get future loans....
not good, not good at all. i saw early this morning that the dow was down about 250...didn't see anything else til tonite, the 502 drop....a black monday for sure...

timmgirvan · #36 09-15-2008, 09:45 PM

Quote:

Originally Posted by MaTH716

It's easy when you could just print out however much you need.

.....I must have missed that year!

#37 09-15-2008, 09:48 PM

Quote:

Originally Posted by Danzig

i read earlier this evening on the news ticker that AIG needs $70 billion-yes folks, with a B-to avoid a downgrade on their rating. downgrading of course makes it harder to get future loans....
not good, not good at all. i saw early this morning that the dow was down about 250...didn't see anything else til tonite, the 502 drop....a black monday for sure...

They need it by Wednesday or it's going bankrupt according to CNBC.

#38 09-15-2008, 09:49 PM

Quote:

Originally Posted by dalakhani

People talk about opportunities. I agree. But those opportunities are 1 in 10 within those falling knives. You wanna guess a bottom? a near bottom?

I will by S and P Index.
Its a wonderful time.

Lets talk in 5 years.

And heck no I wont catch the bottom.
Does not matter.

Danzig · #39 09-16-2008, 06:59 PM

Quote:

Originally Posted by Coach Pants

They need it by Wednesday or it's going bankrupt according to CNBC.

even better...
i hadn't seen any further news since about 5 pm yesterday....haven't watched/heard anything today either. only thing i did see when i got home was that the dow ended up, but not even a third of what it was down yesterday.

dalakhani · #40 09-16-2008, 09:14 PM

Government just approved 85 billion dollar loan (bailout) of AIG.

So let me get this straight. In the space of 6 months, the Us Govt is now in the Investment banking, mortgage and insurance business. Heck, we are even in the process of getting into the automobile business.

So much for free market capitalism. Its interesting that an administration that wanted no regulation is quick to bail corporations out of their unregulated mistakes.

People complain about socialized health care but where are the complaints about socialized corporate care?