Futures Down 51 Points Already!

[jclay2]

Futures for Monday have started trading again and right now the Dow is currently set up for a loss of 51 points. http://www.bloomberg.com/markets/stocks/futures.html

[Primbs]

We might see Dow head to six thousand and below.

[sam9657]

I wonder if this is the start of the decoupling.

[pinkmandy]

- 65 now

[ItsTime]

Dont sell dont sell! DONT SELL! You dont want to cash in your loses! DONT SELL DONT SELL!

Sorry I was channeling a MSM talking head when the dow was at 9,500

[Kludge]

Didn't that Cramer guy officially call the bottom some 3,000 points ago?

[Cowlesy]

:(

What makes me sad is that I know so many good folks who are believing the spoonfed bullshit from the financial prognosticators saying to "hold on...it'll go back up" -- and these people have diligently pumped cash into their 401Ks for the past 25 years, only to see massive losses of probably 15yrs worth of contributions.

I know that we are all about relying on ourselves, but I am still sad for folks who bought the lies.

[ItsTime]

:(

What makes me sad is that I know so many good folks who are believing the spoonfed bullshit from the financial prognosticators saying to "hold on...it'll go back up" -- and these people have diligently pumped cash into their 401Ks for the past 25 years, only to see massive losses of probably 15yrs worth of contributions.

I know that we are all about relying on ourselves, but I am still sad for folks who bought the lies.

I think I heard on CNBC that if you bought in at the peak it will take you 20 years at 7% growth a year to break even.

[Cowlesy]

I think I heard on CNBC that if you bought in at the peak it will take you 20 years at 7% growth a year to break even.

Yeah ---- there is a better chance of me flying a Humvee to the moon than the U.S. growing 7% P.A. anytime soon.

[thechitowncubs]

I followed Cramer's advice and bought financials around 9 months ago. I'm ready to jump out of my skin right about now! What should i doooooooo???????????


;)

[idiom]

The banks all lied on Friday and modified their earnings reports after the bell

[Sandra]

Start the Market watch thread early. It's gonna be a hellish day!

[angelatc]

:(

What makes me sad is that I know so many good folks who are believing the spoonfed bullshit from the financial prognosticators saying to "hold on...it'll go back up" -- and these people have diligently pumped cash into their 401Ks for the past 25 years, only to see massive losses of probably 15yrs worth of contributions.

I know that we are all about relying on ourselves, but I am still sad for folks who bought the lies.

You know as well as anybody that the market isn't any place for money that you expect to need in 10 years. Retirees with their money in stocks gambled and lost.

My parents phased out of stocks over the years, like a textbook case, and they're only exposed to the 10% or so they still have in the market.

Even with the losses, if you add in the employer matching funds, I would think that most of those people still made money or at least broke even.

[idiom]

Have a looke at todays Market-Ticker. (http://www.market-ticker.org/)

[slacker921]

:(

What makes me sad is that I know so many good folks who are believing the spoonfed bullshit from the financial prognosticators saying to "hold on...it'll go back up" -- and these people have diligently pumped cash into their 401Ks for the past 25 years, only to see massive losses of probably 15yrs worth of contributions.

I know that we are all about relying on ourselves, but I am still sad for folks who bought the lies.

The thing is.. odds are pretty good that we'll see inflation kick in at some point and the DOW will leap back to 10,000+ and everyone will say *whew*... and ignore the fact that $10,000 won't buy nearly as much. How many people today complain of the inflation that has caused the price of a car/house/etc go up over the last 15yrs? Very few.

[JoshLowry]

:(

What makes me sad is that I know so many good folks who are believing the spoonfed bullshit from the financial prognosticators saying to "hold on...it'll go back up" -- and these people have diligently pumped cash into their 401Ks for the past 25 years, only to see massive losses of probably 15yrs worth of contributions.

I know that we are all about relying on ourselves, but I am still sad for folks who bought the lies.

QFT

I'll add a sad face to that.

:(

[raystone]

jclay2 - when are you going to change the avatar ? Didn't David Walker support a mandatory savings plan for all U.S. citizens during the IOUSA premiere panel discussion ?

[Kludge]

:(

What makes me sad is that I know so many good folks who are believing the spoonfed bullshit from the financial prognosticators saying to "hold on...it'll go back up" -- and these people have diligently pumped cash into their 401Ks for the past 25 years, only to see massive losses of probably 15yrs worth of contributions.

I know that we are all about relying on ourselves, but I am still sad for folks who bought the lies.

I should mention that when I went to see my Edward Jones "adviser" to switch some Roth funds out of domestic companies, she said she was surprised because she's sure we're going to recover after listening to Obama's speech about a week ago (she said that because he mentioned accountability, she's sure the free markets will pick back up).

[Sarge]

HSBC shares suspended from trading. They are going to pull back from loans in the US.

Shares not to trade until Tuesday.

A few more like this, makes for a sleepless night.

[RSLudlum]

jclay2 - when are you going to change the avatar ? Didn't David Walker support a mandatory savings plan for all U.S. citizens during the IOUSA premiere panel discussion ?


LOL...yeah, mandatory savings plan = Social Security 2.0

[brandon]

:(

What makes me sad is that I know so many good folks who are believing the spoonfed bullshit from the financial prognosticators saying to "hold on...it'll go back up" -- and these people have diligently pumped cash into their 401Ks for the past 25 years, only to see massive losses of probably 15yrs worth of contributions.

I know that we are all about relying on ourselves, but I am still sad for folks who bought the lies.

Well...it will go back up. It might fall lower still...but just as the sun comes back up, the markets will too. They are going to reinflate the bubble, and the markets will eventually pass the highs of 2006/2007 before crashing again.

If you have had money in the markets for several years, and are still in at this point, it seems rather foolish to sell now.

[jclay2]

jclay2 - when are you going to change the avatar ? Didn't David Walker support a mandatory savings plan for all U.S. citizens during the IOUSA premiere panel discussion ?

Yeah, I only liked the guy because he gave the shock and awe figures of how in debt our country is. Shortly after I put him as my avatar, I did realize that he was just a lib with a different face on. Anyway, I havn't gotten around to changing it yet. Maybe a picture of Misses would do? I don't know. For the time being I will go without an avatar or signature.:(

[MrNick]

The thing is.. odds are pretty good that we'll see inflation kick in at some point and the DOW will leap back to 10,000+ and everyone will say *whew*... and ignore the fact that $10,000 won't buy nearly as much. How many people today complain of the inflation that has caused the price of a car/house/etc go up over the last 15yrs? Very few.

I completely agree.

[Original_Intent]

Well...it will go back up. It might fall lower still...but just as the sun comes back up, the markets will too. They are going to reinflate the bubble, and the markets will eventually pass the highs of 2006/2007 before crashing again.

If you have had money in the markets for several years, and are still in at this point, it seems rather foolish to sell now.

Hardly foolish if you believe the market is going to lose another 40% before a true recovery. Sure we will have mini-rallies and sucker rallies, but a growing number of economists are coming around that we have a ways to go down yet.

A month ago the pro's were saying that the market would bottom around 6500 in July....now it is looking like 6500 in early March is a very strong possibility.

I agree that people should have been out of the market long before now, but if I had any still in the market I'd still take it out now.

[Cowlesy]

I should mention that when I went to see my Edward Jones "adviser" to switch some Roth funds out of domestic companies, she said she was surprised because she's sure we're going to recover after listening to Obama's speech about a week ago (she said that because he mentioned accountability, she's sure the free markets will pick back up).

http://www.terminally-incoherent.com/img/facepalm.jpeg