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Whoa the market tanked this week!

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Whoa the market tanked this week!

Old 08-06-04, 10:06 AM
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Whoa the market tanked this week!

Down, down, and down some more. If only my girlfriend was this consistent. And the Fed meets next week, which means the spiraling may continue. At least it's Friday or we might have seen another 100 point drop by Monday.
Old 08-06-04, 10:09 AM
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Old 08-06-04, 10:13 AM
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Looks like it really only tanked on Thursday.
Old 08-06-04, 10:36 AM
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The funny thing is that in a week I need to withdraw ~ $800 from one of my mutual funds to help pay the second half of property taxes. Great timing!

(the fund is still positive, last I saw, but barely (OAKBX)).
Old 08-06-04, 10:39 AM
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Employment numbers released this morning aren't going to help.



Maybe we need another tax cut.
Old 08-06-04, 10:41 AM
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I usually pay little attention to the market, but as I was driving home yesterday I heard on NPR that it lost 115 points, down to 9,900. Given that this is 1% of the market, I was surprised it received only throw-away mention.

- David Stein
Old 08-06-04, 10:42 AM
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Yes, another tax cut would be a good idea, along with more spending on Iraq.
Old 08-06-04, 10:47 AM
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Originally posted by Mammal
Yes, another tax cut would be a good idea, along with more spending on Iraq.
You aren't being a "pessimist" are you?

Why do you hate America?
Old 08-06-04, 12:19 PM
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I don't need to prove anything - I was drafted and served in Vietnam, unlike our current president. I empathize with the poor sobs in Iraq, and with Bush/Rove/Rice/Wolfowitz/Cheney/Rumsfeld etc. in charge pessimism is realism. Our current "leadership" is not America, hopefully.
Old 08-06-04, 12:22 PM
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Short term buying opportunity unless you are looking to buy oil related stocks. When the refinery gets fixed and the Yukos things gets resolved the opposite will be the case.
Old 08-06-04, 05:12 PM
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Originally posted by Mammal
I don't need to prove anything - I was drafted and served in Vietnam, unlike our current president. I empathize with the poor sobs in Iraq, and with Bush/Rove/Rice/Wolfowitz/Cheney/Rumsfeld etc. in charge pessimism is realism. Our current "leadership" is not America, hopefully.
Oops. You must have missed the sarcasm. Both of my prior responses were meant to be ironic. I completely respect your service, as I am currently a military officer.

BTW, the only standard Repub response I left out was "It's Clinton's fault."

Why do you hate America anyway?

Last edited by chess; 08-06-04 at 05:15 PM.
Old 08-06-04, 06:10 PM
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Originally posted by sfsdfd
I usually pay little attention to the market, but as I was driving home yesterday I heard on NPR that it lost 115 points, down to 9,900. Given that this is 1% of the market, I was surprised it received only throw-away mention.

- David Stein
1% is not that big of a deal now a days, is it?
Old 08-06-04, 06:17 PM
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If only they hadnt chanted 'kerry, kerry, kerry'.
Old 08-06-04, 10:01 PM
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Chess, I never hated it, though I've been pissed off at it from time to time.
Old 08-06-04, 10:05 PM
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Originally posted by sfsdfd
I usually pay little attention to the market, but as I was driving home yesterday I heard on NPR that it lost 115 points, down to 9,900. Given that this is 1% of the market, I was surprised it received only throw-away mention.

- David Stein
why 1% is small..

Boy, it's amazing how people think 100 points is a big deal... But then, I remember a 20% drop one day..
Old 08-06-04, 10:08 PM
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Originally posted by Mammal
Chess, I never hated it, though I've been pissed off at it from time to time.
I fear that you are still missing my attempt to be ironic. Here are the four most annoying republican standbys (according to me):

1) If you don't support the administration, you must hate America
2) If you talk frankly about the state of the federal budget or the economy, you must be a pessimist
3) Everything is Clinton's fault...unless something good happens
4) When in doubt cut taxes and start wars...in that order.

I just threw two of them at you as an ironic show of solidarity.

So, why do you hate America anyway?
Old 08-06-04, 10:17 PM
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Hell, I was trying to be sarcastic back at you. After all, I'm a taxpayer and I pay your salary.
Old 08-06-04, 10:22 PM
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Old 08-06-04, 11:10 PM
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Note to self: learn to use the Stop Loss function.
Old 08-06-04, 11:29 PM
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Well, I lost some money this week. Oh well.
Old 08-06-04, 11:33 PM
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Re: Whoa the market tanked this week!

Originally posted by wabio
Down, down, and down some more. If only my girlfriend was this consistent. And the Fed meets next week, which means the spiraling may continue. At least it's Friday or we might have seen another 100 point drop by Monday.
so, you only want her to go down thursday and friday?
Old 08-07-04, 01:00 AM
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One reason = Yukos
Old 08-07-04, 02:55 AM
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Originally posted by Venusian
1% is not that big of a deal now a days, is it?
Well, when it goes up 1% everyone wets their pants and declares it a recovery. You tell me.
Old 08-07-04, 06:26 AM
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Originally posted by sfsdfd
I usually pay little attention to the market, but as I was driving home yesterday I heard on NPR that it lost 115 points, down to 9,900. Given that this is 1% of the market, I was surprised it received only throw-away mention.

- David Stein
The market regularly fluctuates by that much these days. Now if you have over a 5% loss (IMHO) that's when you start to get into something significant.
Old 08-07-04, 06:35 AM
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Originally posted by Trigger
Well, when it goes up 1% everyone wets their pants and declares it a recovery. You tell me.
Really when/who? 1% up or down on any given day is not that big of a deal. 1% a day consistantly over a couple of months is indicative of a recovery though. Quite frankly the overall trends still look good IMHO (considering there are always going to be some fluctuations):






Even the recent downward dip looks to be about along the lines of recent fluctuations


Certainly the economy can still go either way but I think the slow growth approach we are seeing now is more sustainable in the long run than the bubble we had in the 90s.

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