The Dow is getting hammered

[DavyRocket]

The Dow dropped to -1000+ pts shortly after opening. Now the manipulation has begun... Oops I mean the rally has started. I agree Gaz the market will rebound some, but will remain in the negative. The "plunge protection" team will continue "buying" while the free market keeps selling. Eventually the free market will win, and that is when it will go into freefall. When that happens I bet the Fed will call for QE4, but that will only work for a little while, but that is one huge reason we are where we are now. They just keep prolonging the inevitable making it worse. Again, go back in history. It's always September/October when markets crash, and bubbles burst.

 

[Gazrok]

Well, remain in the "negative" of a previously overvalued territory (thanks to China cooking the books)..... I do agree on Sept/Oct though. Not a good sign right before those months.

 

[Brent S]

I think the next couple of days, may continue to sink, but by week's end, start heading back up (though nowhere near the levels we saw).

I agree, there will be a bottom before long. I must admit though, the first hour this morning, seeing a 1000 point drop was a little apocoliptic! I'm really not worried though. As a matter of fact, once it bottoms out I may put some funds in a little more aggressive growth fund. I was currently in the most conservative options, so didn't get hit much here. Some though.

 

[DrHenley]

We'll see what tomorrow brings. Friday I was talking to a financial adviser, telling him I didn't see ANY good economic news anywhere that would snap the market out of it's dive on Monday. He said he was advising his clients to hold pat because there would be a bounce on Monday...

I predict wild swings again tomorrow, but where the pendulum will be a closing, I have no idea.

Things are as ripe as they have ever been in my lifetime for a SHTF event. Don't know that it will happen for SURE...but I cashed my Social Security check today instead of depositing it, and then made the maximum withdrawal at the ATM. I then stocked up on canned goods, water, and rice.

 

[Arcticdude]

Well, could depend on the Fed and interest rates.

This China correction has been in the making for a long time, they are just finally getting called out on their BS. Nice thing about a state-run economy....you can fudge the numbers like nobody's business....but eventually, the world is going to notice, and this week...the world noticed.

Just think how much the China market would tank if we stopped buying their junk.

 

[Arcticdude]

We'll see what tomorrow brings. Friday I was talking to a financial adviser, telling him I didn't see ANY good economic news anywhere that would snap the market out of it's dive on Monday. He said he was advising his clients to hold pat because there would be a bounce on Monday...

I predict wild swings again tomorrow, but where the pendulum will be a closing, I have no idea.

Things are as ripe as they have ever been in my lifetime for a SHTF event. Don't know that it will happen for SURE...but I cashed my Social Security check today instead of depositing it, and then made the maximum withdrawal at the ATM. I then stocked up on canned goods, water, and rice.

I tend to look at drops like this as a buying opportunity for good quality dividend paying stocks. I also believe the market will bounce back in the coming weeks, maybe not to the previous levels though. That being said, I do expect to see an economic collapse in the near future. I do not keep any money in the bank, other than what is needed to pay bills, its buried away in a safe location.

 

[DrHenley]

Here is a video of Michael Gayed on CNBC sounding like he might actually KNOW what the hell is going on. Where did this guy come from?

http://video.cnbc.com/gallery/?video=3000410676

 

[DavyRocket]

Just think how much the China market would tank if we stopped buying their junk.

The buying has not stopped, but it certainly has slowed down ALOT, that is one reason China's economy is in turmoil. When Mainstream media starts talking about crash/collapse... You know things are NOT good.

 

[alabaster]

Man... This is an educating thread for me. I don't know a lot about this subject. I've always thought watching S&P made better sense since it was a broader picture of things than DOW. I also thought this would be the time to get buying rather than selling. I don't have money to lose, so selling anything at a loss is gives me a burning sensation deep in my gut.

Not buying from China would be a great idea, IMO. It would cause a great stir at first, but would benefit us in the long run. I think it would encourage China to better relations with us and other nations, as well. We get taxed to sell there, and we import all their stuff like we can't live without it. Even as consumers, it seems that most folks would rather buy twice than to buy something nice. Redwing boots or Timberlands? Most folks will buy 3 pairs instead of one pair that will last 10 or more years.

It's Tuesday and overall, things are looking up a bit from what I've seen, but they still have yet to open. Hopefully I can make some good decisions here...

 

[Arcticdude]

Man... This is an educating thread for me. I don't know a lot about this subject. I've always thought watching S&P made better sense since it was a broader picture of things than DOW. I also thought this would be the time to get buying rather than selling. I don't have money to lose, so selling anything at a loss is gives me a burning sensation deep in my gut.

Not buying from China would be a great idea, IMO. It would cause a great stir at first, but would benefit us in the long run. I think it would encourage China to better relations with us and other nations, as well. We get taxed to sell there, and we import all their stuff like we can't live without it. Even as consumers, it seems that most folks would rather buy twice than to buy something nice. Redwing boots or Timberlands? Most folks will buy 3 pairs instead of one pair that will last 10 or more years.

It's Tuesday and overall, things are looking up a bit from what I've seen, but they still have yet to open. Hopefully I can make some good decisions here...

The old saying; "Buy low and sell high" is the best advice when it comes to investing in the stock market. In reality, many people do the opposite and buy when the market is high, because they feel like they would miss out, and then panic sell when the market drops.
I try to avoid buying anything made in China, and will pay double for made in USA products. Its cheaper in the long run. Even when I was working I made it company policy to absolutely NOT buy anything from China. I have a pair of Filson boots that are almost 20 years old. You'd be lucky to get 1 or 2 years out of China boots.

 

[Hippophibia]

Are we seeing a repeat of wild swings that occurred in 2008 - some of the larges gains on the Dow were during market crashes..