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  1. #1
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    Dow down 370 points at the moment....

    Yikes! this roller coaster is starting to become the norm in the last couple weeks....

    Dow Jones, Nasdaq, S&P 500, stock market data - CNNMoney.com


    I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.

    Thomas Jefferson, 1802

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    Re: Dow down 370 points at the moment....

    The recession watch can now end. It's already here. - Feb. 5, 2008

    I think were in for some tough sledding ahead



  3. #3
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    Re: Dow down 370 points at the moment....

    Are you telling me the Stock Market is going down? I bet it goes up, too!

    Good luck with that panicking thing. Let me know how that works out.



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    Re: Dow down 370 points at the moment....

    lol. I know JP is a demi-god.....so did he decide to tie the stock market to ISU sports, or the other way around?



  5. #5
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    Re: Dow down 370 points at the moment....

    crash_zone.... I hope your screen name doesn't relate too closely to the stock market!


    I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.

    Thomas Jefferson, 1802

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    Re: Dow down 370 points at the moment....

    I'm happy I went with my gut a couple weeks ago and made a few changes to my 401K. It's still going to hurt but not as much.



  7. #7
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    Re: Dow down 370 points at the moment....

    I'm wondering if it's now time to start moving a little back into the market now?



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    Re: Dow down 370 points at the moment....

    Quote Originally Posted by dmclone View Post
    I'm wondering if it's now time to start moving a little back into the market now?
    Bingo. Buy when its on sale.



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    Re: Dow down 370 points at the moment....

    Quote Originally Posted by aeroclone View Post
    Bingo. Buy when its on sale.
    Beat me to it. THIS is why I have a cash reserve!


    I'm baaack! See my Hot Milk For Breakfast blog under Social Groups for more details

  10. #10
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    Re: Dow down 370 points at the moment....

    Quote Originally Posted by dmclone View Post
    I'm wondering if it's now time to start moving a little back into the market now?
    Might be a good idea to just save up and wait about 6 months and then go in. The housing market still probably has not hit rock bottom yet, so it could be a fun ride for a bit.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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    Re: Dow down 370 points at the moment....

    Quote Originally Posted by dmclone View Post
    I'm happy I went with my gut a couple weeks ago and made a few changes to my 401K. It's still going to hurt but not as much.
    I'm no investment guru, but isn't this a bad idea? Sure, you're going to lose money short-term, but you'll also be buying more shares at a lower price with your continued contributions. Buying low is good, and in a long term investment, you've got to ride the wave.

    Someone correct me if I'm wrong.



  12. #12
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    Re: Dow down 370 points at the moment....

    Ben: I think you are correct. I never touch my 401k, I just leave it as it is, and only look at it every 6 months. I have always read that trying to time your 401k only makes you lose more than if you just left it alone. Most of us are a long time from retirement, so buying low is the best plan right now.


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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    Re: Dow down 370 points at the moment....

    Quote Originally Posted by benjay View Post
    I'm no investment guru, but isn't this a bad idea? Sure, you're going to lose money short-term, but you'll also be buying more shares at a lower price with your continued contributions. Buying low is good, and in a long term investment, you've got to ride the wave.

    Someone correct me if I'm wrong.
    This is the first time in 15 years that I've made changes to my 401K based on the economy.

    I re-balance every 6 months but I just didn't feel good about the economy. I just made changes to 2 of my investment choices. The one I moved away from is down 18% this year. The one I moved it into is down 2%. I only moved money that was already in the 401K. New contributions are still being directed towards the original investments.

    The bad part is that it's easy to figure out when to get out of the market but it's harder to know when to get back in. Either way, if I get back in right now I'm ahead by not doing anything.



  14. #14
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    Re: Dow down 370 points at the moment....

    The stock market is down but still isn't still in record status compared to about 4 years ago.


    Occam's Razor means 'With all things being equal , the simplest explanation/answer is normally the right one'


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    Re: Dow down 370 points at the moment....

    I don't have a clue what the market will do, but Bernanke's comments make me nervous. Sounds like more major write-offs coming for some big banks and lending institutions, and that usually triggers more sell-offs in the market. Add in the foreclosure mess, a huge national debt, worthless dollar, and high energy and food costs and it makes me too nervous. I started lightening up a few weeks ago and will lay low for awhile.



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