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KCornett
11-05-2008, 09:36 AM
Stocks Plunge 145

http://finance.google.com/finance?q=INDEXDJX:.DJI

Businesses and Investors know the deal... get out now.

KCornett
11-05-2008, 09:47 AM
Now it is down 200... It seems that one of the news outlets would be talking about this...

linda22003
11-05-2008, 09:49 AM
It's a normal day on the market, for these days. Profit-taking from the runup yesterday.

crockspot
11-05-2008, 09:52 AM
It's a normal day on the market, for these days. Profit-taking from the runup yesterday.

And it's all chimpy's fault anyway. :rolleyes:

linda22003
11-05-2008, 09:53 AM
Not chimpy's or barack's. :cool:

crockspot
11-05-2008, 09:55 AM
Not chimpy's or barack's. :cool:

Everything is chimpy's fault, from the first ice age to the itchy feet I am experiencing this morning.

Odysseus
11-05-2008, 10:03 AM
Everything is chimpy's fault, from the first ice age to the itchy feet I am experiencing this morning.

It's okay, the new messiah will bring a change... of socks! :D

KCornett
11-05-2008, 10:05 AM
It's a normal day on the market, for these days. Profit-taking from the runup yesterday.
While I can appreciate that... many were saying that the 300 point run up yesterday was anticipation of Oshamus getting elected.... so the drop must be the actual result then?

linda22003
11-05-2008, 10:18 AM
Don't you know the old saying, "Buy on the rumor, sell on the news" ? :)

biccat
11-05-2008, 11:56 AM
I'm still up (slightly).

Although I'm realizing I should have put all my money into Sony, it's up nearly 20% since I bought it last week.

Ah well, live and learn.

linda22003
11-05-2008, 11:57 AM
I assume you're joking, Biccat, and you would not really put all of your money into one stock.

biccat
11-05-2008, 12:01 PM
I assume you're joking, Biccat, and you would not really put all of your money into one stock.
Of course not. But hindsight is always 20-20. If I could go back, I'd also put a couple hundred thousand into Amazon at it's IPO.

Also, I tipped from +.2% to -.2%, so I am officially in the red for today. Aaw man. :(

SaintLouieWoman
11-05-2008, 01:06 PM
Sold some stock yesterday on the runup. My broker, one of the multitude of VP's with a major brokerage company, said that he thought there would be a downturn today, as he feared O would get elected. Looks like he's right. Wish I had dumped even more of what I still have left.

Constitutionally Speaking
11-05-2008, 01:22 PM
Don't you know the old saying, "Buy on the rumor, sell on the news" ? :)

They were buying yesterday as the rumors of a McCain comeback were spreading.

They sold today when reality hit. It is not a surprise, Obama promises Capital Gains and corporate tax hikes. That reduces the profitability of investments.

Now when you figure out that this means ALL investments, like those in new manufacturing plants and in new businesses and in new technologies - and that those investments mean jobs, you will understand just how ignorant Obama's economic plans are.

Money simply will not be invested to the degree it was before - it will move to safer and less beneficial places - like overseas.

KCornett
11-06-2008, 06:04 AM
They were buying yesterday as the rumors of a McCain comeback were spreading.

They sold today when reality hit. It is not a surprise, Obama promises Capital Gains and corporate tax hikes. That reduces the profitability of investments.

Now when you figure out that this means ALL investments, like those in new manufacturing plants and in new businesses and in new technologies - and that those investments mean jobs, you will understand just how ignorant Obama's economic plans are.

Money simply will not be invested to the degree it was before - it will move to safer and less beneficial places - like overseas.

This is exactly what I am seeing and thinking, I believe that the down will be down for years to come.
I hope that I am wrong. But I believe that businesses and investors are going to be fleeing the U.S. for some time to come.

Constitutionally Speaking
11-06-2008, 06:45 PM
This is exactly what I am seeing and thinking, I believe that the down will be down for years to come.
I hope that I am wrong. But I believe that businesses and investors are going to be fleeing the U.S. for some time to come.


There will be a recovery next summer/fall as the impact of the recent oil price drop begins to trickle through the economy, but the long term prospects of Obama's plans IF enacted, will be devastating.

I for one, will be one business owner that closes shop and retires. I work too hard to have it all taken away. I simply will quit working so hard and retire.

My employees will have to find other jobs. It sucks and they are good people, but I cannot risk my family's welfare if the income is not there to justify the risk.