wall st massacre....

[strmrdr]

Date: 10/6/2008 11:43:51 AM
Author: Dancing Fire
will we see Dow 9000 soon? S&P below 1000? Naz below 1700?

It hasn''t hit bottom yet because the world currencies are tanking.
Everyone is printing money like mad and destroying the value.

 

[miraclesrule]

You''re right, we haven''t seen the impact of the "financial weapons of mass destruction" as Warren Buffet described the credit default swaps that are bringing down Wall Street. Here is a primer on the crisis behind the crisis...

The Ticking Wall Street Timebomb

 

[Dancing Fire]

same O story on wall st today

 

[tradergirl]

Here''s one for you, Dancing Fire. I thought this was funny.

CEO --Chief Embezzlement Officer.

CFO-- Corporate Fraud Officer.

BULL MARKET -- A random market movement causing an investor to mistake himself for a financial genius.

BEAR MARKET -- A 6 to 18 month period when the kids get no allowance, the wife gets no jewelry, and the husband gets no sex.

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW -- The movement your money makes as it disappears down the toilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 per share.

WINDOWS -- What you jump out of when you''re the sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who''s now locked up in a nuthouse.

PROFIT -- An archaic word no longer in use.

 

[miraclesrule]

How about "Chef" for the accountant, since they are always cooking the books.

 

[AGBF]

Date: 10/2/2008 9:08:21 PM
Author: Harriet

Btw, would you mind asking your hubby if he knew the late analyst, Jonathan Gray? Jonathan covered Freddie, Fannie and Countrywide.

I am sorry to be so tardy in replying to this question, Harriet. It took me a while to remember the question at a time when I could catch my husband.

The name seemed familiar to him, but he couldn''t place who Jonathan Gray was. Was he someone you knew or "just" a well-known analyst? (I do not mean to disparage Mr. Gray''s abilities, believe me! I am phrasing this badly. I meant did you know him personally or by reputation?)

Deborah

 

[Linda W]

The DOW is down again this morning

 

[Beacon]

I know - so sad. My lastest addition to my ever shrinking portfolio is the QQQQ. That basically represents all the major tech companies. Yesterday was so dreadful.

 

[Linda W]

Beacon, makes me sad too

 

[Harriet]

Date: 10/8/2008 8:33:16 AM
Author: AGBF

I am sorry to be so tardy in replying to this question, Harriet. It took me a while to remember the question at a time when I could catch my husband.

The name seemed familiar to him, but he couldn''t place who Jonathan Gray was. Was he someone you knew or ''just'' a well-known analyst? (I do not mean to disparage Mr. Gray''s abilities, believe me! I am phrasing this badly. I meant did you know him personally or by reputation?)

Deborah

No worries (though there''s something else awaiting your reply

).

Jonathan was an analyst at Bernstein and my hubby was his last associate. I miss him.

 

[Dancing Fire]

Date: 10/8/2008 1:54:53 PM
Author: Beacon
I know - so sad. My lastest addition to my ever shrinking portfolio is the QQQQ. That basically represents all the major tech companies. Yesterday was so dreadful.

don''t feel bad you not alone.

i was shorting the Qs a couple months ago,but not now.

 

[Linda W]

I am ready to pull everything out and stuff my mattress, that is if we have anything left

 

[miraclesrule]

Jeez, this money has to be going somewhere??? Where??

 

[Linda W]

Down the toilet!!!

 

[miraclesrule]

Time to change occupations to plumber.

 

[Beacon]

We''re due for a rally.

 

[Dancing Fire]

Date: 10/8/2008 11:17:51 PM
Author: miraclesrule
Jeez, this money has to be going somewhere??? Where??

into tradergirl''s pocket.

 

[Dancing Fire]

Dow -523 Naz -77 S&P -63

 

[NewEnglandLady]

I just keep watching it go down!

 

[Dancing Fire]

Date: 10/9/2008 12:38:01 AM
Author: Beacon
We''re due for a rally.

when???

 

[TravelingGal]

Ow! Ow! Ow!

 

[strmrdr]

unfortunately I called that one right but wasn''t expecting it that soon, we might even see 7k before it starts back up.
The stupid thing was that anyone with half a brain would know that the automakers are going to take some hits and the news should not have been unexpected.

 

[Beacon]

Wow - this does take the cake!

The action of this market reminds me of what they say at craps tables, "if you can''t be good, be quick." This is one fast market.

 

[Dancing Fire]

Date: 10/9/2008 6:53:12 PM
Author: Beacon
Wow - this does take the cake!

The action of this market reminds me of what they say at craps tables, ''if you can''t be good, be quick.'' This is one fast market.

i''am !!...losing my AS real QUICK !

 

[Linda W]

Date: 10/9/2008 8:13:46 PM
Author: Dancing Fire

Date: 10/9/2008 6:53:12 PM

Author: Beacon

Wow - this does take the cake!


The action of this market reminds me of what they say at craps tables, ''if you can''t be good, be quick.'' This is one fast market.

i''am !!...losing my AS real QUICK !

you aren''t alone

 

[ksinger]

Date: 10/8/2008 11:17:51 PM
Author: miraclesrule
Jeez, this money has to be going somewhere??? Where??

Why, back into the ethereal netherworld of nothingness from whence it came, of course.

 

[miraclesrule]

My daughter works at Wells Fargo and has for at over 10 years. She sent me this email today that sums up the philosphy and questionable business practices that went for the short term gain over the long term stability....

This was her line in the forward of a WSJ article excerpt:

"Nice! I remember being in the branch and having to tell customers no and they would say – “Well at WAMU, I can get xyz…”

Here is an excerpt from a WSJ article in Today''s Headlines…

...What is encouraging throughout this bursting bubble is that leadership matters, that good decisions can be made in good times and bad, and that making good long-term decisions is rewarded, even by short-term minded Wall Street.

I am, of course, talking about Wells Fargo & Co. Look at the company and its stock. Lehman is bankrupt, Merrill Lynch had to sell itself to survive, Washington Mutual lost over 95% of its value, then crashed and burned. Wells Fargo''s stock was just $1 below its all-time high as recently as mid-September. During the "good times" Wells Fargo lost market share in its mortgage business. By the way, Wells is the second-largest mortgage company in the U.S., so it is not because it was a small player in the industry that its exposure was limited. The company lost significant share and millions of dollars of profits because its management made the decision to decline bad business and say no to bad loans. Good management matters and works….

 

[Beacon]

I know. I have owned WFC since 1992, when I bought it during the last housing crisis. They are a good, make sense lender. They have always been a lender that turns away iffy business. Even so, they are getting taken down along with everything else.

A friend of mine gave me this expression and it is true regarding good stocks in bear markets: "when the cops raid the whorehouse they arrest the ulgy girls and the pretty girls too." So they are killing Wells too.

There are quite a number of good stocks suffering this fate as the whole market implodes.

Market is in sheer panic free fall.

 

[ksinger]

What? The great benevolent hand of The Free Market, is NOT working?? Other countries have stopped drinking our koolaid?? They don''t trust us?? Oh, the horroror!!

The End Of American Capitalism?

 

[Linda W]

The DOW is at it again

!! When will it stop

Linda