Where is market headed?

ehtasab · Oct 9th, 2008, 03:27 PM

What do you think DJI is headed towards? Would it go below 8000? Would it reach 7000?

Today both DJI and Nasdaq went below 5 year low!

ehsan · Oct 9th, 2008, 03:39 PM

At the moment all resistance levels are disappearing fast. Where it will stop is anyones guess. Before the financial crash I thought the market was heading towards 10K. But looking at what has happened since than 7000 could be on the cards.

underthedome · Oct 9th, 2008, 04:03 PM

Off 520 right now, better than the 650 it was just a short time ago. GM is down almost 30%, wow.

X2 · Oct 9th, 2008, 04:09 PM

My guess, it will go up after a blood bath that may take it under 8K in my view 7500 range and ppl will start selling more and more thinking its going to go down even more and they want to salvage whatever they have..then you will see major buying by institutional investors.

ehtasab · Oct 9th, 2008, 04:58 PM

Quote:

Originally Posted by underthedome

Off 520 right now, better than the 650 it was just a short time ago. GM is down almost 30%, wow.

End of the day:
DJI at 8579, -678.9, -7.33%
Nasdaq at 1645, -95.21, -5.47%

ehtasab · Oct 9th, 2008, 05:00 PM

Quote:

Originally Posted by X2

My guess, it will go up after a blood bath that may take it under 8K in my view 7500 range and ppl will start selling more and more thinking its going to go down even more and they want to salvage whatever they have..then you will see major buying by institutional investors.

Thats what I am thinking too but instiutional buying won't be able to push market too much for long.

X2 · Oct 9th, 2008, 05:07 PM

institutional investors have sold recently of course, there was profit taking earlier. Now I am not saying in any way that we have a strong market but institutional investors sell, avg ppl start sellign more and more and then these fund managers buy then, right now it has backfired a bit but masses will defeat themselves like before and market makers will come out ahead.

Asif2000 · Oct 9th, 2008, 05:48 PM

Lowest levels since 1950. I am $hitting in my pants. HUGE LOSSSSSES in MY PORTFOLIO

EDIT: I meant GM @ lowest levels since 1950

X2 · Oct 9th, 2008, 05:52 PM

u still have pants??
I lost my shirt..and pants in this stock market.
only positive is that for my largest 401K i pulled a bunch out months ago and went into bonds.

Asif2000 · Oct 9th, 2008, 05:59 PM

Quote:

Originally Posted by X2

only positive is that for my largest 401K i pulled a bunch out months ago and went into bonds.

I didn't and I don't know if I should now

X2 · Oct 9th, 2008, 06:36 PM

I am riding it out what is in stocks stays in stocks, i have lost plenty so if it goes up I recou, if i sell now I really realize those losses. dunn wanna buy hight and sell low u know.

Faisal · Oct 9th, 2008, 08:17 PM

I don't have a crystal ball, so I try not to over-worry myself and micro-manage my retirement on a day to day basis. History is a good guide to predict future. Unless you are planning to retire in the next 3-4 years, ride it out. Everything gets corrected in the long term. As one presidential candidate so infamously said not long ago "the fundamentals of the economy are strong

" Ok, I kid. But really, stocks may take a beating in the next 12-36 months, then things will begin to stabilize. They always do. If we are lucky, some of the new regulatory actions will turn things a bit quicker, but don't bet on it.

Faisal · Oct 9th, 2008, 08:20 PM

By the way, Paulson said he expects few more banks to fail. So
#1 don't keep all your eggs in one basket (especially if the basket is a small regional bank). Regardless of how good a service you get from the cute lady behind the counter.
#2 note this down: Bank of America. Yes, its too big now and no one will let it fail.
#3 safest vehicle to safeguard your money: your mattress. Ok, I kid again. But FDIC limit is now $250k. Most of you will be ok if you try not to be too greedy or overly smart. Don't listen to the television financial pundits (invariably all of them are ganjas, if they are male) who are saying "now is the time to buy". Realize they are trying to navigate a herd of sheep (thats you) to start buying so market declines can be stopped. Lets others be the guinea pig. Wait it out.

EcoShan · Oct 9th, 2008, 10:27 PM

ayite
ive been talkin to and listening to these big international investors, and everyone has agreed to one thing, that there are 60 percent chances that we r gona see a huge rally tommorow that will break records, and 40% its gona get so ugly that it would go to 7500. in either cases next week is a huge bullish market and from huge i mean record breaking.

ehsan · Oct 10th, 2008, 02:51 AM

^ I wish I could share your optimism. Even if there is a rally, it will be short lived. The trick is not to get sucked into it.

SindSagar · Oct 10th, 2008, 03:02 AM

Stock Market is suffering from "CHINA SYNDROME"........

it is like a Nuclear Reactor ........when it melts down through the Earth and it goes to China!....

But in reality the non existant Monies that purchased all those high priced homes in the USA using borrowed Chinese Funds left on a slow Boat to China...........

goodnews · Oct 10th, 2008, 03:03 AM

Quote:

Originally Posted by X2

My guess, it will go up after a blood bath that may take it under 8K in my view 7500 range and ppl will start selling more and more thinking its going to go down even more and they want to salvage whatever they have..then you will see major buying by institutional investors.

......................Ky khushi se mar na jaty agar aytbar hota