DOW record close

JHudd · 10-01-2007, 10:13 PM

Dow Jones passes 14,000 for record high - Yahoo! News

Stocks were buoyed by a growing belief that the worst of the credit crisis has passed.

That would be amazing.

4VR4CY · 10-01-2007, 10:15 PM

Profits will be taken and it will drop again. The market is too volatile right now. None of the analyst are agreeing lately. I still would keep my conservation stance until there is more than a few days of good closes.

Cyclonepride · 10-01-2007, 10:19 PM

Yeah, I expect a drop too, though I honestly don't have anything more than a gut feeling to go on. Seems like the market is whistling through the graveyard right now. Hard to say though. With elections coming up, the media will highlight as much bad news as possible.

JHudd · 10-01-2007, 10:19 PM

Oh I agree I was just surprised to see this today and I just now ran into the article at 10 pm. I guess Brit-brit losing custody of her kids was more important locally.

4VR4CY · 10-01-2007, 10:27 PM

Sad, isn't it? Brit crap out does the real news....

Market volatility - subprime mortgages, elections, war, the R word (Recession) in the vocabulary of the financial community. It is all a crap shoot when looking at the market futures, but in my humble opinion (which some people actually call me for, if you can believe it), I would just be careful. There are too many young people thinking that day trading is the cool new way to gamble. Invest for the long run, but keep your eyes open too.

cycloneworld · 10-02-2007, 07:44 AM

Originally Posted by 4VR4CY

Market volatility - subprime mortgages, elections, war, the R word (Recession) in the vocabulary of the financial community. It is all a crap shoot when looking at the market futures, but in my humble opinion (which some people actually call me for, if you can believe it), I would just be careful. There are too many young people thinking that day trading is the cool new way to gamble. Invest for the long run, but keep your eyes open too.

What's weird is that despite all of these "worries" the stock market is thriving. A few weeks ago when it was down around 12,000 people thought it was the start of a big down turn but it popped right back up.

I'm not so sure that many of the things (home sales slow, subprime mortgages, etc) aren't being a little blown out of proportion by the media. Many democrats want to believe our economy is going in the crapper but the fact of the matter is that its doing quite the opposite...and its been going strong since 2002.

dmclone · 10-02-2007, 08:38 AM

This is why I rarely look at or touch my 401K. There have been so many times that I've heard people say to get out and then a few weeks later everything would go up. The only thing I ever do is rebalance and it has worked out good for me over the last 16 years.

dmclone · 10-02-2007, 08:43 AM

14% this year so far and 18% last year.

jmb · 10-02-2007, 08:47 AM

Originally Posted by dmclone

14% this year so far and 18% last year.

be a contrarian it works very well...

herbiedoobie · 10-02-2007, 09:13 AM

I'm always interested to see those breakdowns that show how many days made up all the loss or all the gain for a year. It's what made me quit market-timing completely.

I'm stuck on dollar cost averaging and having a diverse portfolio and just saving all I can.

4VR4CY · 10-02-2007, 09:17 AM

Originally Posted by cycloneworld

What's weird is that despite all of these "worries" the stock market is thriving. A few weeks ago when it was down around 12,000 people thought it was the start of a big down turn but it popped right back up.

I'm not so sure that many of the things (home sales slow, subprime mortgages, etc) aren't being a little blown out of proportion by the media. Many democrats want to believe our economy is going in the crapper but the fact of the matter is that its doing quite the opposite...and its been going strong since 2002.

Funny, I am a republican (gasp) and I don't believe that it is as stable as we are making it out to be. The Fed to the rescue isn't going to sustain us for all rough patches.