Dow Closes Below 8000 - How Low Does It Go?

[oldmanTED]

OK, now that the DJIA has closed below 8000, and the likelihood that Congress will not approve a bailout for the Big 3 automakers, let's hear opinions on where the bottom might be. Care to guess?

 

[3peet]

at 1st i was thinking 7300 but now i'm thinking mid 5000's since were officialy spirling down. We just gotta ride it out.

 

[tiznow]

near term think the 2002 lows will hold in the 7500 dow area for a while

and sell into any significant bounce

i may actually get quite bullish near term here soon down around the 2002 lows.....but not for the faint of heart or those not willing to take on big risks IMO

longer term 5k or lower coming

bagholders shoulda dumped a year or so ago....

now they just have to pray for a bounce at the 2002 lows to sell into to get out before the 5k or lower move comes

or you can do what 3peet and the MSM tells you and "ride it out"

enjoy the ride all i can say

 

[bilbal]

OK, now that the DJIA has closed below 8000, and the likelihood that Congress will not approve a bailout for the Big 3 automakers, let's hear opinions on where the bottom might be. Care to guess?

I'm back in at 7,500.

 

[tiznow]

hopefully not long term bilbal

that said i'm likely joining you near term

and i will be going heavy short if we can bounce back to the 9-11k area

volatility usually gets the highest in the midpoint of bear markets

i think that's where we are now

 

[oldmanTED]

I'm not back in until the housing market and the job losses stabilize, meaning consumers would have liquidity to spend.

 

[Whoson1st]

What does it mean "closes below 8000"?

 

[oldmanTED]

What does it mean "closes below 8000"?

Today the DJIA closed at 7997.28

 

[Whoson1st]

Today the DJIA closed at 7997.28

But what do the figures represent? (in simple terms )

 

[bilbal]

hopefully not long term bilbal

that said i'm likely joining you near term

and i will be going heavy short if we can bounce back to the 9-11k area

volatility usually gets the highest in the midpoint of bear markets

i think that's where we are now

There's 10-12 stocks in my portfolio worth dollar averaging at that level. It'll depend on how they're doing when we hit it, (and if there isn't any decent housing or acreage to be scooped up.)

 

[3peet]

near term think the 2002 lows will hold in the 7500 dow area for a while

and sell into any significant bounce

i may actually get quite bullish near term here soon down around the 2002 lows.....but not for the faint of heart or those not willing to take on big risks IMO

longer term 5k or lower coming

bagholders shoulda dumped a year or so ago....

now they just have to pray for a bounce at the 2002 lows to sell into to get out before the 5k or lower move comes

or you can do what 3peet and the MSM tells you and "ride it out"

enjoy the ride all i can say

well i'm not as active as u are Tiz. I'm mostly cash and MM and CD's right now.

 

[oldmanTED]

But what do the figures represent? (in simple terms )

http://www.djindexes.com/mdsidx/index.cfm?event=showAverages

 

[teazeman]

But what do the figures represent? (in simple terms )

my 401k is now a 201k, and i'm heading to the poor house:cripwalk:

 

[tiznow]

http://www.djindexes.com/mdsidx/index.cfm?event=showAverages

dow a pretty bad indicator in general since its 30 stocks and they constantly rotating

like recently AIG was replaced with KFT

and if GM goes bankrupt somebody else will move in

S&P 500 or even better wilshire 5000 total market index a better index to follow

 

[oldmanTED]

dow a pretty bad indicator in general since its 30 stocks and they constantly rotating

like recently AIG was replaced with KFT

and if GM goes bankrupt somebody else will move in

S&P 500 or even better wilshire 5000 total market index a better index to follow

Agree completely. However, from the media to the man on the street, the Dow is what gets the most discussion thus the thread title.

 

[Coldweather]

I think it may roll down to about 7683.227 cause the liberal media is perpetuating doom and gloom. The good news be that it be temporary cause investors are ready to buy stuff when it get to be that low in my opinion. I have been buying stuff already cause I think this be a good thing for me and a gooder thing for America too!

hno::cripwalk::cripwalk::cripwalk:hno::toast:

 

[Whoson1st]

Is there a low number where the Stock Exchange would be closed?

 

[eek.]

-1

'cos they would have to pay YOU to invest.

:grandmais

 

[Whoson1st]

-1

'cos they would have to pay YOU to invest.

:grandmais

Then it has a long way to go yet.

Down Baby Down!

 

[eek.]

Look on the bright side.

If you were poor, then you wouldn't care anyway.