buy low, sell high.Just touched 880 and the VIX broke 60. This is a market run on fear. Fundamentals are out.
Now is the time to ramp UP your 401k contributions. As prices fall, you get more for your money. If you put more in, you get more out in the long-term (10+yrs).
I upped my 401k by 1% adtl last week, and will after my review next week when I know how much I wil be getting next year. I will likely be adding another 5% my year end.
Same here. Glad I switched some of my IRA funds over to the Silver ETF last week, it's up 2% while the DOW's down 5%.Yeah, but how low?
I just tossed a bunch of my cash reserves at the stocks today... maybe I should have waited a bit...
We're actually starting to horde lasting goods. I'm trying to get 3-4 months worth of canned/dry foods set aside. I don't have a lot of storage space, but I have a feeling that things are going to get a LOT more expensive and that if the house of cards falls, living in the City could get interesting.I've only been contributing 1/3 of the 401k max for most of the year, so I've got some headroom to ramp it up. Also lining up as much cash as I can to finally open an E-trade account. For anyone still alive, it's going to be like Costco up in this bitch.
You sound like Grants Pass, OR in 1999. The self proclaimed "Most Y2K prepared city in the US".It is doom/gloom, but I am starting to see it from more high level sources which is not comforting...
And I agree, but from my seat it's a lot uglier than is being let on...You sound like Grants Pass, OR in 1999. The self proclaimed "Most Y2K prepared city in the US".
I understand what you are saying, but I don't think we are close to an Escape from NY scenario just yet.
Oh please, it's not going to collapse into Mad Max post-apocalyptic anarchy and even if it did, I don't own **** that anyone wants to steal. As far as I'm concerned, people will continue to need things, folks will continue to make things, and while the slowdown may suck a bit, this is bargain central and I'm going all in.I have seen multiple reports from ultra-high networth advisors suggesting that their clients buy large properties away from the cities that are totally self-supporting and off the grid in all aspects. They are referring to "other supplies" which I am led to believe are recommendations of purchasing guns for defense. If the market does truly collapse (doom-gloom/depression hypothesis), people do not have enough savings or supplies to last until things settle.
I'll buy a gun and when you win, I'll take it from youOh please, it's not going to collapse into Mad Max post-apocalyptic anarchy and even if it did, I don't own **** that anyone wants to steal. As far as I'm concerned, people will continue to need things, folks will continue to make things, and while the slowdown may suck a bit, this is bargain central and I'm going all in.
It's super ugly for anyone heavily leveraged, which is a lot of people, but enough folks will be able to ride this out (hopefully I'm one of them), that it will rebound pretty healthily and hopefully much more conservatively next time 'round.And I agree, but from my seat it's a lot uglier than is being let on...
Check Craig's List lately?edit: oh yeah, and eBay is going to be ****ing awesome pretty soon. Desperate people sell things CHEAP!
The return of short sellers to the US market after a near-three-week ban was blamed for a sharp drop in prices on Thursday as General Motors and Morgan Stanley led stock markets sharply lower.
yes, because the market had been doing so well up until yesterday... :huh:
Stocks on Wall Street sank hard at the open Friday then surged breiefly back into positive teritory, as teh najor indices swung wildly.