Dow losing ground fast!greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
The DOW has dropped from 11722.98 on January 14, 2000 (it's all time high) to 10,219.52 today (2/18/2000). That's 14.8% of its value in just over one month. What gives? Can't you see that the bubble has more than a slow leak?
-- Farouk Madjurian (email@example.com), February 18, 2000
Yes, looks like the "bump in the road" had a nail sticking out of it.
The Fed is buying "Fix-a-Flat" cans and trying to keep the economy on the road. Someone will eventually have to take the tire off and repair the damage.
-- Possible Impact (firstname.lastname@example.org), February 18, 2000.
The Dow was ridiculously high at 11,700. So it corrected. Thank goodness. It is still about 10% higher though than it was a year ago......not too shabby really.
Of course, none of this has anything WHATSOEVER to do with Y2k.....in the spirit of "truth in advertising" let's change the name of this forum.....calling it TimeBomb2000 is absolute stupidity!!
-- Craig (email@example.com), February 18, 2000.
"The Dow was ridiculously high at 11,700. So it corrected. Thank goodness. It is still about 10% higher though than it was a year ago......not too shabby really. "
Craig, I'm gonna save this one for future reference. I guess if one owns stocks in this MANIA, one feels obligated to call this a correction. When one decides to call it a BEAR market I'm sure they have already pulled out all of their money.
We'll be waiting to see when you call it a BEAR market Craig!!
-- Ray (firstname.lastname@example.org), February 18, 2000.
Craig is one of those folks who would see the "cutesy-wootsey, wittle bear" and try to pet it. And then all too late realize it ain't anything cute, it's a full-blown, mean-mother, Grizzly bear. Plus he's hungry and Craig looks like dinner.
That's what's gonna happen to all those folks who try and stay in the market to ride the bubble any longer.
If you plan on playing the market, you better be looking for stocks that interest you and set the level at which you'll go shopping for bargains. Utilities, the premier transports and companies like Coca Cola. Just look at who was successful during the Great Depression. There were some companies which continued generating dividends during the worst of the Depression.
-- Wildweasel (email@example.com), February 18, 2000.
The collapse is near, I fear, and many bulls are disbelieving. When the crash occurs they will be grieving, sad to lose their savings, fearful of the bears' ravenous cravings.
by Henry GibsonBear
-- dinosaur (firstname.lastname@example.org), February 18, 2000.
Farouk - Are you asking rhetorical questions. You just posted a wonderful article from Gold Bug with the ship and waves analogy. Try rereading that article. Note how it says the ship has to ride the waves UP & DOWN.
Ray - People don't have to pull there money out of the market. If there is a clearly defined downward trend you can make just as much money by going short. However there is SO much volatility its too difficult to time the "waves". The DOW could easily go back up a few hundred points this coming week and then subside some more getting closer to 10000. Historical logic would dictate that because of rising interest rates and oil prices the markets would have to start declining. The NASDAQ has so much inertia though that rising interest rates and high oil prices are s l o w l y getting noticed (hardly at all actually evidenced by more record highs this week).
Besides it takes time for the costs to be reflected on the bottom line for companies. Remember the profits and losses are reported quarterly and of course profits are meaningless for high tech comps.
-- Guy Daley (email@example.com), February 18, 2000.
"...of course profits are meaningless for high tech comps..."
Only to the idiots buying them at absurdly inflated prices, Guy...
-- nabi (firstname.lastname@example.org), February 18, 2000.
THNX for your in put on the insanity that is called Wall St.' a super link to gold,....no i'm not a gold freak, is....(damn, don't have the exact link, except to check message #7079 on the bmg board. It is woth it. (Note, i just got online this week, due to concerns about y2k and am not really proficient on posting. all the best, and (remember.... didn't the good old USA debt recently get a downgrade????) Talk about irony)
-- robert gridlock (email@example.com), February 18, 2000.
The panic will start when a CLEAR WARNING SIGN is broadcast on Wall Street. Until that moment, we'll witness more deceitful speculation...
-- dinosaur (firstname.lastname@example.org), February 19, 2000.