How low will the Dow Go?

Sorry to bring up UKC again.
I had a look at UKC when you said you had bought some shares, and I thought it looked like a good long term share. There is nothing wrong with the company. The coal is going nowhere, and there will eventually be an increased need for fuel from whatever source. It's surface coal, so it is more quarrying than mining. So you can just leave it be if you want to.
Long term? What do I know?
It's gone up 50% in a few days,
Nice buy, but you must be considering selling. If you'd got this return in 5 years, you'd be doing well.

 

Log in or Sign up to hide all adverts.

Gee, I made £11,000 yesterday! Except I don't call it a profit until I've sold, and I am in no hurry to do so -- though the price may come back down before going ahead further. Long term, the price could go back up to a fiver!

I have never heard the mantra "Never catch a falling knife" chanted so frequently as in the last couple of months. Silly! Because it's all a matter of figuring which knife to catch (i.e. not a company that might go bust) and when to catch it. There are bargains out there!

 

Log in or Sign up to hide all adverts.

Can we start the thread over with new poll numbers? I'm curious at what people think now. It's be good to run this experiment again in 30 Jan 2009.

 

Log in or Sign up to hide all adverts.

So your calling complete failure of GM. Wow, that's an American Icon, I'd call such a call, the call of the END of an Empire.... which is only fitting and I can only be so happy to watch it implode. Good bye America, Hello USA

Please Register or Log in to view the hidden image!

 

They'll get their bailout, just watch :wallbang:

 

I voted 9,000. Completely wrong.
I was taken in by the politicians who said a recession could be avoided.
After a binge cometh the hangover. A rule of life.
I won't listen again.


If I was voting again I would say 7,000 for the DOW.
3,500 for the FTSE.

If I had any money available for stocks and shares, I would be considering investing now.
Unfortunately the shares I had are now a tenth of their former value, and I have no money to gamble.
Can't complain too much as I made good money on them when they were at their peak.

If the uk bank rates drop much lower I may consider buying some unit trusts.
I need money growth without too much risk.

 

I said 8000 and I too under estimated the stupidity of the George II administration.

 

After listening to George II today, I think he might sign bail-out legislation for them...but I could be wrong.

 

With increasing bad news, and the certainty of more to come in the World economy, how can the DOW remain as high as it is?

I can only think that it is based on a change in Presidency.
Yes, we have a change from a likeable idiot to a savvy strategist, but deep deep pain is to come whatever happens. We are back to a Clinton-like brain only younger, but this approach towards 9000 is nonsense.

When this thread started I voted for 9000 as a low.
The bad news that has come out since pushes me to 7000.

 

GM IS dead and they can't even afford a funeral (bankruptcy)...

 

Feb 17 10:30AM
Dow Jones down 273 at 7557
. . . time to bring this thread out of hibernation???

 

That's like yelling in someone's ear, "ARE YOU AWAKE??!!?!"

Please Register or Log in to view the hidden image!

 

Well it aint a pretty picture out there today. Obama is to sign the stimulus bill today. The market seems to be unimpressed with the stimulus bill or upset with Senator Dodd restricting TAR beneficaries from receiving huge bonuses.

 

The market knows this bill is bullshit.

 

I dont think you will find anyone who will tell you that the stimulus bill is great. But it is better than nothing.

 

Some people state the opposite, yet you say it as if this is known.

Think of the country like a household. Right now it is in debt and future prospects are not looking good. Would the best move be to throw a lavish party and eat fillet Mignon every night for the next 5 years?

Of course not. What the world needs right now is a nice, long recession. We need prices to go down and the value of money to go up. We need people to drastically reduce their spending and live on a lot less. We need these houses to foreclose and for people to move back in with family, build tiny houses, go without many luxuries. We probably need 25% unemployment for awhile, for people to grow some of their own food for several years, for everyone to start carpooling, working from home, piling in together.

You can not have a runaway economy forever. It is manufactured and it will correct itself. This bullshit that both parties are doing is going to make the future correction worse! Just let shit happen and allow people to learn to make do with their current iPod until it breaks, not until they need the shinier one. 1,000 sq.ft. per resident is mind-boggingly idiotic. CEO's making $30 million per year is ridiculous. I'm all for a free market, but when you set interest rates and enact protectionist policies, and subsidize some special interest groups, you do not have a free market. What we have right now is Mercantilism.