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Stock market drops 513 points today

posted 8/4/2011 8:29:02 PM |
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tagged: politics, news, straddle, economy
  StraddleMyNose

Looks like another day of loses in the market today. Some say it's the global economy, while others are saying it's from the debt ceiling agreement that both parties agreed upon.

1. Any predictions on how much the stock market will drop tomorrow?

2. How long do you think this will continue before it bottoms out and start the upward trend again?

3. What's your opinion on what's causing the stock market to continue to drop, especially with days like these?


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Comments:

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sugarnspice005

Aug 4 @ 8:49PM  
I know very little about the stock market.

But I do know just by watching, it has it's ups and downs. The global economy is shaky at best...and I do know enough from another over on the vanilla site said this:

I've had quite a bit of experience with stock markets in my life and career.

If I had to boil down everything I've learned into a few principles, these are the first ones that come to mind. Most are not the conventional thinking.

1. Buy low and sell high. Most people do just the opposite. As my grandfather used to put it: "Buy sheep and sell deer."

2. Never listen to investment advice from someone with less money than you have.

3. Don't listen to the "experts." They all have corrupt motives or are flunkies who would be making money themselves instead of telling you how to if they actually knew.

4. Don't bother trying to "analyze" a particular company. Anything you can learn about it is not helpful in knowing its real worth or potential for increasing. The only ones who know that, and can make a killing are insiders. For you, it's just a matter of good luck or bad luck when you buy and sell.

5. You might as well invest your money in the US stock market, because the day that no longer is a good place to invest, your money will be worthless anyway no matter where else it is invested.

6. The answer to the question "Will the market go up or down." is always yes.

I took this quote from a forum post on MD. Here is the link to the discussion. (yes Bruce, I know your opinion about this particular poster )

Stock Market Blues Yikes!

40DWM

Aug 4 @ 9:24PM  
It will drop, all the way 'till November 2012. The National Elections will determine if this country goes 'tits up' or recover.

It's Obama's Economy. He owns it with his failed policies. 'Bail outs' to his
rich Wall Street buddies, and former Goldman executives that are now on his staff.
Not to mention the former bosses of Fannie Mae and Freddie Mac, that are now getting Federal Salaries from Barry. These people and those that support him, HATE this country, and will do anything to make it western Greece.

This last budget, Reid and Obama 'hosed' the American People, once again. The Markets are just reacting to the lies of the Progressives.
StraddleMyNose

online now!
Aug 4 @ 10:06PM  
It's Obama's Economy. He owns it with his failed policies.
I agree. His policies have hurt this economy for the last two years. Sure, it was bad before, but he made it so much worse.

We're not going to see any improvements in the economy until he's out!
somnium

Aug 4 @ 11:16PM  
1. Any predictions on how much the stock market will drop tomorrow?

If I were to tell you that the employment figures were going to be less than expected and that the DOW probably will drop another 200/300 points... it would do exactly the opposite and bite me in the ass- that's the way the markets work! No one really knows, until the markets open in the morning!

I can tell you that gold's low & high today was: $1639.30 - $1683.30/oz. today- rounded off, that's a $44 swing today- not unusual but quite a swing anyway! How it opens tomorrow- who knows! Usually big dips like this in the markets, is considered a buying opportunity... usually!

2. How long do you think this will continue before it bottoms out and start the upward trend again?

Going to be quite a while- employment problems will probably get worse the rest of the year and the housing industry may get worse yet, on into next year! No one is talking about what is happening to all of the empty commercial and industrial buildings popping up because of all the layoffs!

3. What's your opinion on what's causing the stock market to continue to drop, especially with days like these?

See above!

As it looks right now, we may be going into a 'double dip' recession, if we're not in it already!

I would like to take this opportunity to thank the past three or four previous administrations, including the present one- for all your stupid , fucked up ideas of how to maintain a balanced economy- Complete, total fucking ASSHOLES!!!

All this, JMO based on dabbling in the markets over the years!


Wordsofwit

Aug 4 @ 11:19PM  
I think it is all global and entrenched in a flat morass. Economies are down in Europe and Asia also. I don't think it matters who is in office, people will still be out of work or under employed and the numbers of each growing.

If nobody has discretionary income, then they aren't buying anything beyond essentials. That means; more unemployment as companies cease to hire and lower wages for those working, more housing foreclosures, lower property values, more bankruptcies, reduced revenues from taxes, more of what we have too much of and don't need.

I think everything is going to slide back into a deep recession and those of us who have been hanging by a thread since 2008 are going to lose our ass. Come November 2012 after all of the votes are counted, no matter what the outcome, we can all sing, "crappy days are here again!"
Strega

Aug 4 @ 11:32PM  
Actually a lot of the drops would not be as large of a swing if people did not panic every time it drops a few points and looked at the long term. All that last minute selling by those type of people tend to send it skyrocketing downward.

As far as it being Obama/s economy...

The president has nothing to do with setting the budget other than signing off on it or vetoing it. That is done by house then is approved by the senate. (Knew those political science classes would come in handy one day) The last time I looked the congress was not run by democrats.

Anything can send the stock market up and down. It can be something here or half way around the world or the reaction in Europe or Asia about something that happens here or our reaction to whatever happens there. It can be sales dropping for large deprtment store chains. Even a recovery can be slow and have its ups and downs.

I don't think seeing that fiasco with congress this past week or two inspired confidence in very many people anywhere. I have never seen such childish behavior by a group of adults anywhere in my life. That was just not acceptable and is probably at least partly responsible for what happened today.
Wordsofwit

Aug 5 @ 12:36AM  
When I pull back and look at the stock market, public opinion polls on politics, movements by corporations in their strategies and investments, and do all this with an eye towards the worldwide economy and political environment, it all comes together. What comes together can be summed up in two words, no confidence.
Wordsofwit

Aug 5 @ 12:45AM  
Stock market dropes 513 points today

I just noticed the boo boo and am LMAO. Now I have to ask, what word did you misspell, "drops" or "droops"
StraddleMyNose

online now!
Aug 5 @ 1:14AM  
Yes, Bruce, that was a typo. I was on the phone at the time.
onehornytoad69

Aug 5 @ 10:53AM  
I'm so broke...a Stock Market...is a Place that you can steal a Cow from!!!!

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Stock market drops 513 points today