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Hiram

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Re: Next Stop Dow 11111
« Reply #60 on: July 08, 2008, 01:58:15 AM »
Quote:

Bonkers said:
By the way, Hiram.... How is the British stockmarket holding up?
Bonkers

Actually not too bad.  But I suspect many of the companies quoted on the FTSE are not British anyway, but merely traded here.

Not only that – commodity companies are strongly featured.

I'm genuinely surprised due to the poor state of the UK economy how well the FTSE is doing.  If I'm going to make an investments, I wouldn't put my money into anything here, my preference is to the Dow.

Edit: FTSE, I spoke too soon.  eek!
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Hiram

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Re: Next Stop Dow 11111
« Reply #61 on: July 08, 2008, 02:00:02 AM »
Quote:

pedonbio said:
Now I tinker with the Irish.

The Irish economy is in real trouble.  Honest!
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pedonbio

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Re: Next Stop Dow 11111
« Reply #62 on: July 08, 2008, 03:09:51 AM »
Quote:

Hiram said:
Quote:

pedonbio said:
Now I tinker with the Irish.

The Irish economy is in real trouble.  Honest!



As contrasted with the stunning success of the U.S. economy?
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Someday, chi1dren, this entire fuck-up will be yours.
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AZWolf

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Re: Next Stop Dow 11111
« Reply #63 on: July 08, 2008, 08:31:57 AM »
I love it since it has no bearing on my financial life, though the rich (Fox News) report on it like a lifeline.

Sink, sink, sink!
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Dawn, n.  The time of day when men of reason go to bed.

Pray, v.  To ask that the laws of the universe be annulled in behalf of a single petitioner confessedly unworthy.

          --  Ambrose Bierce, "The Devil's Dictionary"

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DruulEmpire

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Re: Next Stop Dow 11111
« Reply #64 on: July 08, 2008, 03:12:55 PM »
I'm putting myself out on a limb starting this thread in the first place, so here's an even wilder thought -- what if my idea of falling just short of 11111 (actually I was preferring 11114) already happened yesterday, during that intra-day low of 11127, and that will be the low of 2008?

This is not to say that the market will (reliably, consistently) rocket back up -- but I wonder if we have at last defined this "bottom" that everyone (besides AZWolf) is looking for.

Personally I'm getting out my stopwatch, to see how long it takes for this rather optimistic idea to get shot down ...
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Hiram

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Re: Next Stop Dow 11111
« Reply #65 on: July 08, 2008, 03:28:56 PM »
Quote:

pedonbio said:As contrasted with the stunning success of the U.S. economy?

OK, fair point.  

The US does have a manufacturing base to get itself out of trouble - not really so in Eire.
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Hiram

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Re: Next Stop Dow 11111
« Reply #66 on: July 08, 2008, 03:30:57 PM »
Quote:

AZWolf said:
I love it since it has no bearing on my financial life

You don't have a pension then?
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ElmerFudd

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Re: Next Stop Dow 11111
« Reply #67 on: July 08, 2008, 03:59:55 PM »
Quote:

Hiram said:
Quote:

AZWolf said:
I love it since it has no bearing on my financial life

You don't have a pension then?



Pensions are approaching extinction in the U.S.  The only people who are in pension plans are some government workers and politicians.

Most who have company retirement plans are in 401K's which are often heavily invested in stock-based mutual funds, however.
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Bonkers

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Re: Next Stop Dow 11111
« Reply #68 on: July 08, 2008, 04:51:24 PM »
Quote:

ElmerFudd said:
Quote:

Hiram said:
Quote:

AZWolf said:
I love it since it has no bearing on my financial life

You don't have a pension then?



Pensions are approaching extinction in the U.S.  The only people who are in pension plans are some government workers and politicians.

Most who have company retirement plans are in 401K's which are often heavily invested in stock-based mutual funds, however.


Not really... all the unions still base on the pension. I hardly heard any going into the 401K's. There was mention of a few guys in my Local asking the delegates about doing it. But it was shot down and never mention again.
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Bonkers

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Re: Next Stop Dow 11111
« Reply #69 on: July 08, 2008, 04:55:34 PM »
Quote:

DruulEmpire said:
I'm putting myself out on a limb starting this thread in the first place, so here's an even wilder thought -- what if my idea of falling just short of 11111 (actually I was preferring 11114) already happened yesterday, during that intra-day low of 11127, and that will be the low of 2008?

This is not to say that the market will (reliably, consistently) rocket back up -- but I wonder if we have at last defined this "bottom" that everyone (besides AZWolf) is looking for.

Personally I'm getting out my stopwatch, to see how long it takes for this rather optimistic idea to get shot down ...


I remmember about five or ten years ago the Dow crashed into the 10,0000. the time of Enron and it's cooked buddies
Bonkers
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DruulEmpire

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Re: Next Stop Dow 11111
« Reply #70 on: July 08, 2008, 05:20:00 PM »
I remember that too and am not "disremembering" it.  I am NOT predicting any sort of boom at all this year.  Fact is, it was not so long ago that the Dow hit the high 7000s, and I'm not saying it's impossible to ever hit that again.  All I'm saying is that these low periods are like bouts of nausea that you just have to get through -- however, one bout can be quite different from another.  The Dow was already in freefall even before 9-11, and then a post-9-11 doldrums hung around for about three-quarters of Bush's eight years.  Would another "bubble" and/or poor Presidency and/or terrorist spectacle sucker punch the Dow all over again?  Sure, of course.  I'm just going by what I already see on the table right now.
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Hiram

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Re: Next Stop Dow 11111
« Reply #71 on: July 09, 2008, 04:09:01 PM »
Eek!

11174

Edit: I was just about to invest $1000 in the stock market - I'm going to wait now.  The check in the envelope, sitting there.
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Hiram

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Re: Next Stop Dow 11111
« Reply #72 on: July 10, 2008, 10:04:11 AM »
10:16 am EDT -- 11103.

Thats it, recession is now over.
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DruulEmpire

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Re: Next Stop Dow 11111
« Reply #73 on: July 10, 2008, 10:43:11 AM »
The close, my good man, I'm waiting for the CLOSE.

Still -- yikes.

By the by, yesterday actually closed at 11147.
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DruulEmpire

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Re: Next Stop Dow 11111
« Reply #74 on: July 11, 2008, 10:12:42 AM »
Okay, so, today I'm nervous.

Today is 7-11, so in honor of a day which brings mini-marts to mind, I will cut this deal:

My hope was for 11111, and then mastert suggested 9999.  Not too surprisingly, the midpoint is 10555 -- however, I don't want to have to wait for every last little remaining point.  I consider "57" to be a very Pittsburgh number, in honor of the 57 H. J. Heinz varieties, so if we ever close below 10570 I will concede to mastert.

First, though, we still need to close below 11111 before I concede anything.

Play ball!
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