Yeah team!
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.
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.
Yeah, but how low?
I just tossed a bunch of my cash reserves at the stocks today... maybe I should have waited a bit...
I just tossed a bunch of my cash reserves at the stocks today... maybe I should have waited a bit...
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...
Otherwise just dripping in any extra $$ as the market falls...
Aaaaand there went 8661.......
Damn Stoney, you were right about the "buy order" at 8661...
nice call
Im so glad I learned how to trade to the downside, though that doesnt mean all that much with some of this volatility.
Starting in January my company is starting its reimbursement with company stock, hopefully that will be just in time.
Starting in January my company is starting its reimbursement with company stock, hopefully that will be just in time.
ended at 8579, lowest level of the day.
yikes.
yikes.
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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.
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 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.
It is doom/gloom, but I am starting to see it from more high level sources which is not comforting...
the *real* scary thing is that should everything collapse, how many people have physical cash or commodities on hand? if the system collapses to that point, you won't be able to run to an ATM, anything held digitally will disappear, and that GLD or SLV ETF won't be worth squat.
<------ runs off to buy 3-4 months worth of tequila, because if it's all going down I want to be drunk as hell for it.
<------ runs off to buy 3-4 months worth of tequila, because if it's all going down I want to be drunk as hell for it.
"I can skin a buck and run a trotline..."
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.
And I agree, but from my seat it's a lot uglier than is being let on...
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'll buy a gun and when you win, I'll take it from you
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...
edit: oh yeah, and eBay is going to be ****ing awesome pretty soon. Desperate people sell things CHEAP!
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Don't worry, when all the 1s and 0s get turned into 0s, we can always get jobs as bike messengers in NYC.
Check Craig's List lately?
<edit> also see my house thread in the lounge. If we don't get it, we are staying put. But I would rather buy something soon in the event we all get "forgiven" and my house is free
and in the car just now i was hearing some caller rave on the dennis miller show about the jews are putting their boots to our collective neck.
talk radio is going to get very interesting again; to the point where michael savage will be aptly named "white noise"
talk radio is going to get very interesting again; to the point where michael savage will be aptly named "white noise"
In this thread:
Profiting on the misery of others.
Profiting on the misery of others.
I'm all in at 3000.
I'm dripping free cash into a general mutual fund, not specific stocks.
is that written by a 3rd grader?
so what's your bet on the final down number today? I'm predicting quadruple digits... With Monday being a holiday I can't imagine that people are going to want to be long unless they're looking at the looong term (ie, me).
Woohoo!
It's good to have cash!
It's good to have cash!