looks like gonna be an ugly start for wall st.

[tradergirl]

Ya think????

I was switch fund trading via the telephone the last time the Dow was this low.

 

[stone_seeker]

I remember starting a thread called "not one good day since obama was elected"

At the time (I wrote it in November) people flamed me because they said it was premature. The market has tremendous foresight.

Many of my colleagues who work in finance who supported Obama are feeling some buyer''s remorse.

At some point the investor class (40% of households own stocks or a 401k) turns on the President and his approval drops.

Dow down 305 as I type.

 

[fleur-de-lis]

Just be sure that you're not all focusing on the straw man argument about some guy who's been in office for a few weeks or months and failing to see more direct and logical explanations that have been percolating for years right in front of you....

 

[Hudson_Hawk]

Have they reported the approval rating yet during Obama''s presidency?

 

[fleur-de-lis]

Date: 3/5/2009 3:44:35 PM
Author: Hudson_Hawk
Have they reported the approval rating yet during Obama''s presidency?

60% approval, 26% disapproval as of this week.

 

[tradergirl]

Sorry, the Bush blame game won''t work anymore. The dow was 3500 points higher on election day.

 

[MaggieB]

Date: 3/5/2009 3:52:37 PM
Author: tradergirl
Sorry, the Bush blame game won''t work anymore. The dow was 3500 points higher on election day.

You win, tradergirl. Today''s market drop is because the market just doesn''t like Obama and has absolutely nothing to do with the fact that record breaking foreclosure numbers were released today.


http://money.aol.com/news/articles/_a/bbdp/12-pct-are-behind-on-mortgage-or-in/371480?cid=5

 

[fleur-de-lis]

Date: 3/5/2009 3:52:37 PM
Author: tradergirl
Sorry, the Bush blame game won''t work anymore. The dow was 3500 points higher on election day.

Wow, THAT came out of left field! (Who mentioned Bush?)

 

[Dancing Fire]

Date: 3/5/2009 3:36:28 PM
Author: tradergirl
Ya think????

I was switch fund trading via the telephone the last time the Dow was this low.

if the Dow keep on going down like this,we''ll be back to via tape trading level soon.

 

[purrfectpear]

...and we would have been there regardless of who was elected. That train left the station long ago and it''s just hurtling down the track.

 

[stone_seeker]

Date: 3/5/2009 5:25:28 PM
Author: purrfectpear
...and we would have been there regardless of who was elected. That train left the station long ago and it''s just hurtling down the track.

Possibly, but even left leaning economic experts agree that certain policies are out of bounds given the current crisis. NOw isnt a time to wage war against corporate America. Time to avoid a depression, then you can tax people all you want.

Heck, even Chris Matthews thought it was bizarre that he would allow all the pork in the bill. I almost thought it was April Fool''s day.

 

[fleur-de-lis]

Date: 3/5/2009 6:27:27 PM
Author: stone_seeker

Date: 3/5/2009 5:25:28 PM

Author: purrfectpear

...and we would have been there regardless of who was elected. That train left the station long ago and it''s just hurtling down the track.

Possibly, but even left leaning economic experts agree that certain policies are out of bounds given the current crisis. NOw isnt a time to wage war against corporate America. Time to avoid a depression, then you can tax people all you want.


Heck, even Chris Matthews thought it was bizarre that he would allow all the pork in the bill. I almost thought it was April Fool''s day.

Pork for votes? You don''t say!

 

[Beacon]

Date: 3/5/2009 3:39:01 PM
Author: stone_seeker
I remember starting a thread called ''not one good day since obama was elected''

At the time (I wrote it in November) people flamed me because they said it was premature. The market has tremendous foresight.

Many of my colleagues who work in finance who supported Obama are feeling some buyer''s remorse.

At some point the investor class (40% of households own stocks or a 401k) turns on the President and his approval drops.

Dow down 305 as I type.

It puzzled me at the time that many people in financial jobs, well paying jobs, supported Obama. I know it happened but it did confuse me. What did they think was going to happen? He was perfectly clear about what he would do and now he is doing it.

Sadly he does not realize that the economy he campaigned in is not the economy he is implementing in. He needs to back off the tax and spend deal.

Totally agree that his proposed budget and tax raises are an absolute disaster and indeed have much to do with what is taking place in the stock market.

Deficit is proposed at 12.5% of GDP and GDP is shrinking fast. We''ll drown in this.

The few companies doing half well are trapped by his "carbon tax" or the taxation on their assets held in foreign banks. The rest of the companies are dying on their own. He is making the health care/pharma cos much less profitable so they can now fire everyone too. What the heck is he thinking?

I pray not all of this gets through. Seriously, pray.

 

[tradergirl]

Beacon:

http://zerohedge.blogspot.com/2009/03/game-over-reits-s-puts-entire-industry.html

 

[Beacon]

Thanks TG. Yup, this was on the news so I saw it already but I appreciate your posting.

S&P is so useful now ,huh?

Talk about closing the door after the horse is gone. The nitwits! Fortunately my reits did trade up on Friday (maybe short sellers decided to take a nap for the weekend).

Years ago I did use one of their downgraded issues: United Dominion, but have not owned it in a long while. I''ll have to go take a peek at the numbers and see what has happened to them.

 

[Dancing Fire]

should i gamble short term on BAC,WFC or JPM?

 

[bebe]

this market is such a freakin mess. DH and I have been discussing all day seriously calling our planner and saying take us out.
we are losing so much it makes us sick. 54, retired and worried what the future holds.

 

[tradergirl]

DF: I''d "gamble" on SMH or Cisco, myself. Yes, I heard the Cisco rumor on Friday.

 

[Beacon]

Date: 3/7/2009 3:25:36 PM
Author: Dancing Fire
should i gamble short term on BAC,WFC or JPM?

If you wanna gamble, go to Vegas; they could use the business.

BAC - too hard to analyze
JPM - best capitalized of the 3
WFC - great management, fairly easy to understand, weakness in capitalization

I own WFC and bought it in 1992. My cost basis is between $4-5 per share. It is one of the very best run banks. You don't get money out of them unless you are a good credit. (Kudoos to Mara, she must be a good credit). It has been sad seeing this go from 35 to 8 in the blink of an eye.

I have collected dividends from them in mulitples of my cost basis, plus written calls over the years. If it went to zero tomorrow I would be money ahead. But I hope it does not go to zero.

I bought more on Friday, post dividend cut. I also bought GE on Friday. In fact, there is hardly a stock around I don't want to buy. I am a bad gambler and a worse trader. I do not know what it will do short term. It can all go lower. Look me up in a few years and we'll see.

Meanwhile you can track my losses! But I am a buyer.

 

[bebe]

hey, DF, TG and Beacon...
I own Hybrid Bonds for B of A and J P Morgan. If by chance one or both got nationalized, how does that affect my bonds?
Would they be converted to plain ol'' stock and then worth nothing? I''m clueless on this stuff and my planner has explained it
til he''s sick of me. But I still don''t get it.

 

[Beacon]

I do not know what a hybrid bond is. JPM will not get nationalized. If your BAC bonds are senior secured bonds I believe you will get paid.

The government does not want to nationalize the banks. BAC is a bit of a wild card. Have you asked your planner what the market prices of these securities are?

Try and stay steady - I know how bad this is and I feel for you.

 

[Dancing Fire]

Date: 3/7/2009 7:32:27 PM
Author: Beacon

Date: 3/7/2009 3:25:36 PM
Author: Dancing Fire
should i gamble short term on BAC,WFC or JPM?

If you wanna gamble, go to Vegas; they could use the business.

BAC - too hard to analyze
JPM - best capitalized of the 3
WFC - great management, fairly easy to understand, weakness in capitalization

I own WFC and bought it in 1992. My cost basis is between $4-5 per share. It is one of the very best run banks. You don''t get money out of them unless you are a good credit. (Kudoos to Mara, she must be a good credit). It has been sad seeing this go from 35 to 8 in the blink of an eye.

I have collected dividends from them in mulitples of my cost basis, plus written calls over the years. If it went to zero tomorrow I would be money ahead. But I hope it does not go to zero.

I bought more on Friday, post dividend cut. I also bought GE on Friday. In fact, there is hardly a stock around I don''t want to buy. I am a bad gambler and a worse trader. I do not know what it will do short term. It can all go lower. Look me up in a few years and we''ll see.

Meanwhile you can track my losses! But I am a buyer.

or bet on their stock. LVS,MGM,WYNN all down the toilet. i''am thinking about buying some WFC or BAC on monday.

 

[Dancing Fire]

Date: 3/7/2009 6:59:27 PM
Author: tradergirl
DF: I''d ''gamble'' on SMH or Cisco, myself. Yes, I heard the Cisco rumor on Friday.

and???

 

[Dancing Fire]

Date: 3/7/2009 7:52:30 PM
Author: bebe
hey, DF, TG and Beacon...
I own Hybrid Bonds for B of A and J P Morgan. If by chance one or both got nationalized, how does that affect my bonds?
Would they be converted to plain ol'' stock and then worth nothing? I''m clueless on this stuff and my planner has explained it
til he''s sick of me. But I still don''t get it.

i''ve never owned any of these bonds.

 

[Beacon]

Date: 3/7/2009 9:38:12 PM
or bet on their stock. LVS,MGM,WYNN all down the toilet.

Of those I like WYNN. Steve Wynn is in a great position and he is a great operator. I would not buy it now, but keep an eye. Even his leveraged balance sheet is better than the others. I am sure I will end up owning it in the future.

 

[Dancing Fire]

Date: 3/7/2009 10:39:18 PM
Author: Beacon

Date: 3/7/2009 9:38:12 PM
or bet on their stock. LVS,MGM,WYNN all down the toilet.

Of those I like WYNN. Steve Wynn is in a great position and he is a great operator. I would not buy it now, but keep an eye. Even his leveraged balance sheet is better than the others. I am sure I will end up owning it in the future.

waiting for $11 ?

 

[Diamond Confused]

Date: 3/2/2009 5:41:05 PM
Author: TravelingGal

Date: 3/2/2009 5:32:58 PM
Author: zhuzhu
What''s laughable is comparing the impact of an 8-years-long presidency to that of 2-months-long presidency, and calling the 2-months-long the evil.

I''m a republican, but er, I gotta agree!!

I don''t think two months is long enough to asses the impact Obama has on the economy; however, at some point he needs to stop pointing the finger at the previous administration and accept fault.

I personally think that with him in office, this country is headed in the wrong direction. The United States was built on Capitalist ideals and it has worked. What he did to Citigroup, he can''t blame that on Bush.

P.S. I had all of my 401K in citigroup but cashed out in May of 08 becuase I needed the money to pay for med school. I''m SOOOO glad i did or I''d have about $1 right now!

 

[tradergirl]

Bebe, I don''t think you need to worry about JPM and probably not too much about BOA either.