So whatd'ya think? Up, more down or sideways?

Did you sell? Are you gonna buy? How long will you wait?

Interesting blurb in today's paper about Las Vegas pension portfolio managers who left hedge funds and put the fund money into index funds. Looks like they were just in time to get creamed.

Index funds are still the way to go. Just dont look on the way down and wait for it to go up again. I never look at my accounts on a down day.

bramzzoinks said:
Index funds are still the way to go. Just dont look on the way down and wait for it to go up again. I never look at my accounts on a down day.

That's true, but if you are sitting on cash right now, it would be prudent to hold it for a while.

"They" said more down, albeit more slowly.

My dad taught me to buy low and hold (forever). I bought right after the '86 crash; lost so much in '08. Don't have cash to get in now. Had moved most of the growth fund into IRAs; still not caught up to '07 numbers.

Shanghai market off almost 8% right now.

Oil at 39.14

The Dow futures at this point are trading about 435 points below their close on Friday. ETA, oops, now at 7:45 am, down over 500. This does not portend well for the opening of the stock market on Monday.

I would not be surprised if some influential members of the Fed signal that they won't raise September interest rates, and if some large companies announce stock buybacks, in an attempt to stem the tide.

Crash. Black Monday '87 redux. Dow futures -600, S&P futures - 65.

Never sell in a panic

Over the long term, it's just another blip. And as it's been said, stocks take the stairs going up, but the elevator going down.

Don't look! (Except perhaps for some bargains to have for the next stairs back up.)

sac said:
Don't look! (Except perhaps for some bargains to have for the next stairs back up.

That's my strategy and I'm sticking with it.

Dow futures down 700.

Nasdaq futures are limit down

Long overdue. Let's just hope there's no further intervention.

Good advice:

<< Let's forget the niceties today. NJMoneyHelp.com wants to make sure you don't panic with your long-term investments as the stock market is poised for another steep decline today. Before you lose your cool and sell your equities, remember a few important points. If you carefully created an asset allocation for your long-term goals, and if you have a diversified portfolio, selling now will probably be a mistake. You chose your investments for a reason, and you need to stick by your strategy. It's only a loss on paper until you sell. Those who got out of the market in 2007 and 2008 missed out on huge gains when stocks started to come back. Don't make that mistake. If you're having trouble stomaching the losses, instead, review your risk tolerance and consider working with a professional who can help you take the emotions out of investing. And if you have cash on the sidelines, think about getting in. Once this bloodbath ends, lots of stocks and mutual funds will have "corrected." This could be a great opportunity to buy cheap if you have a long-term time horizon.>>

House prices next? Everything else worldwide has collapsed, except US treasuries.

cramer said:
House prices next?

Can they wait a few weeks?

Any chance we can merge these two threads? This one and Dow Futures Point to 600+ Point Drop Monday Morning


I'm getting sick reading one of them. Two and I am really gonna lose it.

Better not to read either one and also not to look at your accounts right now.

Corrections happen, but this is part of the landscape for investing.

RobB said:

cramer said:
House prices next?

Can they wait a few weeks?

After the '87 crash, it took a while for the housing market to get hit - much more than a few weeks - about a year, a I recall.

My inability to time the stock market has pushed me to time the housing market. Can't lose, right??

Market timing is not for the faint of heart (nor for the 401k $$$ according to most reputable advisors.)

Is this what Ron Paul is talking about in those infernal commercials? I refuse to look on his website but wonder what Kool Aid he's selling.

mumstheword said:
Is this what Ron Paul is talking about in those infernal commercials? I refuse to look on his website but wonder what Kool Aid he's selling.

I don't have to look. Buy gold and silver and gold and silver miners. Companies like ABX (down 85% the past year) and Goldcorp (down 65%). Basically, he's holding out hope for total collapse of the world financial system.

RobB said:

mumstheword said:
Is this what Ron Paul is talking about in those infernal commercials? I refuse to look on his website but wonder what Kool Aid he's selling.

I don't have to look. Buy gold and silver and gold and silver miners. Companies like ABX (down 85% the past year) and Goldcorp (down 65%). Basically, he's holding out hope for total collapse of the world financial system.

Just what I thought.....

The Ron Paul thing is actually a warning about a currency crisis. But what it really is, is an unnecessarily long infomercial for a Financial Newsletter. My wife, who has been looking at internet marketing for her own business, says while schmaltzy it is part of a text book web marketing campaign.

Think long-term people. Who cares what happens day to day.