topic Re: Is black Tuesday coming? in General Credit Topics

Is black Tuesday coming?

Anonymous — Tue, 22 Jan 2008 05:55:46 GMT

2008-01-21 — blogspot.com

``US Markets are closed but S&P futures are down 4.5% and Nasdaq futures are down 4.0%. We are looking at a possible lock limit down open on Tuesday unless Bernanke pulls a magic rabbit out of his hat. Don't count on it.'' -- We suspect the PPT is not getting this MLK holiday off.

Re: Is black Tuesday coming?

Anonymous — Tue, 22 Jan 2008 05:59:54 GMT

FTSE 100	-323.50	-5.48%	5,578.20
XETRA-DAX	-523.98	-7.16%	6,790.19
CAC 40	-347.95	-6.83%	4,744.45
HANG SENG	-1,914.73	-7.60%	21,904.13
NIKKEI 225	-500.47	-3.76%	12,825.47

11 Pm AZ time- 1/21/08

Re: Is black Tuesday coming?

Anonymous — Tue, 22 Jan 2008 06:12:39 GMT

Oh yeah! Moved all my 401k out of stocks and into money market and bonds just over two weeks ago. Its gonna be brutal this quarter. Button down the hatches and don't make waves at work. Run for cover . . . really nasty weather ahead.

Re: Is black Tuesday coming?

Anonymous — Wed, 23 Jan 2008 00:47:17 GMT

Fed emergency .75 rate cut

Stock Futures Gyrate After Fed Move

By TIM PARADIS – 31 minutes ago

NEW YORK (AP) — U.S. stock futures seesawed Tuesday after the Federal Reserve, responding to a growing financial market crisis, slashed interest rates 0.75 percentage point.

Dow Jones industrial futures, down more than 500 points before the Fed move, were fluctuating violently an hour before the start of trading.

Sorry- I forgot to post the link to the article-

Message Edited by Timothy on 01-22-2008 05:47 PM

Re: Is black Tuesday coming?

Anonymous — Tue, 22 Jan 2008 18:38:17 GMT

I've already lost $300 (not much I know but way too much for me), how can I do that or should I just do a loan and invest that in Gold Stock?

Your help is GREATLY appreciated!

Re: Is black Tuesday coming?

Anonymous — Tue, 22 Jan 2008 19:23:42 GMT

Bail-out Tuesday. Short term rebound. More to come.

Re: Is black Tuesday coming?

Anonymous — Tue, 22 Jan 2008 19:43:15 GMT

Cramer is right....................pigs get slaughtered.

Re: Is black Tuesday coming?

Anonymous — Tue, 22 Jan 2008 20:17:53 GMT

Not sure what that means - transfer out?

THX?!! Only options I appear to have are Retirement Fund (mix of stock/bond) and a Trust...someone just told me to sit tight as I will guarantee the loss for sure if I bail now!

Ugh - we get one inch only to fall back 2 - we all need every penny we earn

Re: Is black Tuesday coming?

haulingthescoreup — Tue, 22 Jan 2008 20:51:01 GMT

Hi, beach --the only problem with switching to gold now is that you will be selling low and buying high. I'm irritated with myself, because I thought about moving some of my Roth to precious metals a month ago, but I let it go. (All my main retirement stuff is well diversified. It just doesn't have much going on in GNMA's, commodities or precious metals, so I try to hit those in my other funds.)

If you aren't having to pull this money out in just a few years, I say grit your teeth and hang in there. A lot of pundits are saying that this is a 2-quarter recession and a necessary correction, and that most of the losses will come back reasonably soon. It's different if you're getting close to retirement, in which case you needed to be less in stocks and more in cash and bonds. For now, I will keep investing my $788.46 every two weeks in my same mix, knowing that I'm buying more shares of my index funds that I used to, and when the markets recover --WHICH THEY WILL --I will have that much more working for me.

Can you tell that I've been stuck at home today with icy roads, and financial news has been on?

Re: Is black Tuesday coming?

Anonymous — Wed, 23 Jan 2008 00:54:08 GMT

What a bail out-

OK - Funds rate is cut-

What are the going to do with Prime?

If they don't cut prime- we will have the same thing next week-

My Google stock has taken a beating down $163 a share from it's peak. I sold 1/2 of my shares at $724. a few weeks ago.

I moved eveything around in Oct/Nov so the rest of the damage was minimal-

Re: Is black Tuesday coming?

Anonymous — Wed, 23 Jan 2008 11:45:28 GMT

I left the money in the funds I had, just shifted new funds to diversify more (can you tell I'm new at investing) A friend's hubby helped me (he's a financial advisor)...I was just freaking out a bit, I am starting over from scratch w/401k and hate to watch the profit sharing dwindle away

I have at least 20 years left to work - hopefully I can find some good "how to invest" - wish I'd have had the money to buy a few Google shares back in the day!

Re: Is black Tuesday coming?

thotgal320 — Wed, 23 Jan 2008 16:28:12 GMT

New with 401k stuff. I have 401k and had it for a couple years now why move it to market money is it safer then keeping it where it's at?

Re: Is black Tuesday coming?

Anonymous — Wed, 23 Jan 2008 17:21:25 GMT

I didn't "move" the funds, the guy told me to leave those, but changed where all the future contributions were going to go

The good folks here on Ficoland will always help - it's great having a place one can come to ask for advice, weigh it and use it or not

Re: Is black Tuesday coming?

Anonymous — Wed, 23 Jan 2008 20:20:08 GMT

I had my BUY order in if GOOG hits 505

Only got down to 520- DANG IT

Re: Is black Tuesday coming?

PayYouNever — Wed, 23 Jan 2008 20:52:09 GMT

I moved my money into a 4.5% APR checking account in early September when the subprime mess first started to make waves. yeah, I'll take a capital gains tax beating, but since the DOW is down 20% from its high, now is actually a great time to figure out where to buy/reinvest my greenbacks... well, I'm putting money in Euros currently, get that additional appreciation as the dollar continues its downward spiral. Hard to see if it'll ever come back, too.

Re: Is black Tuesday coming?

Anonymous — Wed, 23 Jan 2008 21:08:29 GMT

PYN...............good post, I agree with you 100%. I have been in the FOREX for over a year now. Best thing I've ever done. ................well, one of the best.

Re: Is black Tuesday coming?

Anonymous — Wed, 23 Jan 2008 23:51:34 GMT

Did you move 401k? or other funds? You said you'd take a capital gains hit but I agree with you, it's worth it!

I thought one had to be NOT working with a company in order to close a 401k??!! Can you tell I'm the Investor 101

Re: Is black Tuesday coming?

Anonymous — Thu, 24 Jan 2008 00:22:58 GMT

beach123 wrote:
Did you move 401k? or other funds? You said you'd take a capital gains hit but I agree with you, it's worth it!

I thought one had to be NOT working with a company in order to close a 401k??!! Can you tell I'm the Investor 101

Capital gains don't apply to 401(k) or other tax-advantaged accounts. The funds must have been in a regular taxable account for capital gains to even enter into the equation.

Re: Is black Tuesday coming?

haulingthescoreup — Thu, 24 Jan 2008 00:57:18 GMT

Hey, beach, if you're starting to get interested in how to make your money work for you, I can recommend a good book that simplifies without dumbing down: Smart and Simple Financial Strategies for Busy People, by Jane Bryant Quinn. She really likes index funds (as do I), so Timothy won't approve, but the book is really helpful for getting an overall picture of the different ways that personal finance works. After that, you might feel more ready to be a Google mogul.

Another book I have is Suze Orman's Women and Money. Suze makes me start grinding my teeth after about 20 minutes or so, but there's some useful stuff in there if you can get past the rah-rah. (I'm just not a rah-rah person.)

And finally, if your local newspaper has 3 or 4 pages in the Sunday business section called "The Wall Street Journal Sunday," they have a columnist named Jonathan Clements who seems to appear every other week. His column is called "Getting Started," and it's really helpful when you start getting overwhelmed with advice.

Re: Is black Tuesday coming?

PayYouNever — Thu, 24 Jan 2008 01:04:52 GMT

I've worked as a writer in Hollywood and as a freelance graphic artist for most of my career, so I don't have a 401(k). IRAs and regular investing accounts. I gotta see if I can set up a 401(k) through the freelance agency that I work at.

Honestly, I was reading an interesting article in the NYTimes today about the continued slide that we'll see, that depression is perhaps in the works -- although no one will call it that.