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Market Meltdown...looks bad

awakegirl said:
Our broker tells us to stay in. That doesn't totally assure me bc he wants us to stay in. My brother who works at JP Morgan keeps telling me to buy and buy ewz. This thread plus the news still has me freaked the hell out though.
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doing an option seems like that would be a solid move
 
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Sorry parents, but with my almost non-existence 401K let it burn now. Apparently its gotta plummet sometime.
 
awakegirl said:
Our broker tells us to stay in. That doesn't totally assure me bc he wants us to stay in. My brother who works at JP Morgan keeps telling me to buy and buy ewz. This thread plus the news still has me freaked the hell out though.
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Brokers are car salesmen in slightly nicer suits, of course they are going to tell you to stay in. Don't pitch the bitch.
 
Don't worry folks; this is just the market pricing in a stronger/more-stable dollar. :tard:
 
2&2 Slider To Leyritz said:
Brokers are car salesmen in slightly nicer suits, of course they are going to tell you to stay in. Don't pitch the bitch.
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What's the motivation for them to tell you to stay in?

If they charge commission, wouldn't they tell you to get out just so they could tell you to get in a couple of weeks or months later. If they told you to stay put, there is no commission.

If they charge a percentage on assets, wouldn't they want to keep you from losing money, which gives them less money to bill on?
 
ABCDeac said:
Because if that happens, you will be unemployed, unemployable, and probably dead.
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The stock market only has a moderate correlation with the economy as a whole. I think the market is very overvalued right now and is due for a correction anyway. All it would take is a panic/overreaction. Sure, it's unlikely, but I would love a 90% drop.

Besides, I live in a little oil kingdom.
 
Corp profits have been pretty good, but its all expense reduction. Not much more fat to trim. No increased demand
 
qcdeac said:
What's the motivation for them to tell you to stay in?

If they charge commission, wouldn't they tell you to get out just so they could tell you to get in a couple of weeks or months later. If they told you to stay put, there is no commission.

If they charge a percentage on assets, wouldn't they want to keep you from losing money, which gives them less money to bill on?
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Like car salesmen, once you're off the lot, you're gone. If you cash out, there is a real high chance you're not going back to them. If it tanks and you lose your shirt, they are betting that they can convince you to stay in to ride the upswing.
 
2&2 Slider To Leyritz said:
Like car salesmen, once you're off the lot, you're gone. If you cash out, there is a real high chance you're not going back to them. If it tanks and you lose your shirt, they are betting that they can convince you to stay in to ride the upswing.
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The stock market isn't the only thing that a broker can sell you to invest in.

If I had a broker tell me to get out and the market tanked, I would have increased confidence.
 
WFU03 said:
The stock market only has a moderate correlation with the economy as a whole. I think the market is very overvalued right now and is due for a correction anyway. All it would take is a panic/overreaction. Sure, it's unlikely, but I would love a 90% drop.

Besides, I live in a little oil kingdom.
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If you believe that you are not only immune from, but would actually profit from, a 90% drop in the market, you are simply delusional.
 
The only good news right now is that I'm 30+ years from retirement :(
 
Shouldn't have money in the stock market that you have any need for for at least ~ five years. If you think the companies or funds you're in are good for the longer term, just stay put. If not, sell.

I try not to think short term with stocks.
 
man investment threads on the pit are just like car threads on the pit. why dont you guys stick to something you can competently speak on; like good music or picking up hoodrats? oh wait...
 
My company's 401k plan is switching administrators/custodians and has been in cash for the last 3 days. Can't ask for better timing.
 
InTheKnow said:
I tried to post it but it wouldn't show up. That scene with Bodie Broadus and McNulty on the Wire where they are sitting on the park bench and Bodie says the game is rigged is pretty much how I feel about the stock market.
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The Wire was so good.
 
ABCDeac said:
If you believe that you are not only immune from, but would actually profit from, a 90% drop in the market, you are simply delusional.
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I didn't say that I would be immune from it anywhere, but I certainly believe that I could profit from it. We can agree to disagree here.
 
WFU03 said:
I didn't say that I would be immune from it anywhere, but I certainly believe that I could profit from it. We can agree to disagree here.
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Always looking to make a profit huh? Were you paid off not to submit answers during our sheep cup playoff matchup?

This might be the most corrupt season of sheep ever after all the scandals are finally revealed...
 
DiegoTiger said:
Always looking to make a profit huh? Were you paid off not to submit answers during our sheep cup playoff matchup?

This might be the most corrupt season of sheep ever after all the scandals are finally revealed...
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Haha, yeah, I felt bad about that. So bad that I couldn't submit answers for the playoffs after that. I forget what was going on that week, but I realized it like two days later. I was like, "Sheep? Oh crap."
 
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