+750 tomorrow minimum

[Edited on October 9, 2008 at 4:57 PM. Reason : and yes...it's just wishful thinking]

10/9/2008 4:56:33 PM

i think we could see it actually, weve come down way too far too fast

10/9/2008 4:59:50 PM

Tell me how bat shit crazy I am. I am thinking of buying 100 shares of GM. everybody is against them right now, but they still have plenty of cash. If they can make it through this, then the payoff could be very big. Otherwise, I lose $500 (big deal).

With the stock market selling off, there are just so many bets you can play right now for pretty cheap. high potential reward, small risk....

10/9/2008 5:02:31 PM

buy 1000 shares and really make some money

10/9/2008 5:05:38 PM

Make it 10,000!

10/9/2008 5:05:58 PM

^^^I don't think it's crazy at all, it's a risky stock that can go either way right now, and I would be surprised if it went much lower.

I took a similar stab at Freddie Mac with 800 shares at $1, probably will dump it at $1.25-$1.50 if it gets back there anytime soon which I think it will

10/9/2008 5:16:42 PM

what about Ford? They are down to 2.08/share .. still need to research more, I know they are losing money but I just don't think they go out of business being as established as they are. Could be a nice gambling play.

10/9/2008 5:29:10 PM

There are a ton of stocks that are on a fire sale that are teetering on the edge of failure. some will fail, some will be worth 10x as much in 5-10 years.

10/9/2008 5:37:08 PM

Yes, yes, good, good. Now just tell us which ones!

10/9/2008 5:40:04 PM

I don't know about GM and F - you could make an argument for putting you black swan 10% in them, cause you never know what our wonderful government will do, but man on the surface the balance sheet is a nightmare.

For GM:

Last quarter's stockholder equity was negative $57 billion, which is roughly negative $100 per share.

What they owe for pensions and other retirement benefits is equal to roughly half of their total assets.

They have $20 billion in cash and are burning through $2-$3 billion per quarter. The government may give them money, but who else would?

[Edited on October 9, 2008 at 5:41 PM. Reason : GM]

10/9/2008 5:41:07 PM

So, tomorrow if the dow opens a lot lower than it closed today, I think it's very likely to go up. Everyone's going to see what happened today and put in their market orders in tomorrow morning and sell their shit. Once those orders are eaten up, we'll get a small rally tomorrow but from there I don't know where it'll go. I still wouldn't hold anything long. I bet we see Dow 6000s. Easy.

If the Japanese freak out from today, things could go to shit tomorrow. We'll probably open near where we closed and go down from there.

Like I said before TWM.

10/9/2008 6:09:52 PM

Damn, 6000s would be fucking nutty buddy bars!

10/9/2008 6:29:27 PM

"
For GM:

Last quarter's stockholder equity was negative $57 billion, which is roughly negative $100 per share.

What they owe for pensions and other retirement benefits is equal to roughly half of their total assets.

They have $20 billion in cash and are burning through $2-$3 billion per quarter. The government may give them money, but who else would?"

The retirement benefits have been a problem for years, even when the price was much much higher. I dont see that as the biggest problem they face to increased stock value.

10/9/2008 7:20:03 PM

Down another $2,700 today...

10/9/2008 9:30:02 PM

If we get a lift tomorrow, you need to sell that shit. We're headed lower. The Nikkei dropped 10% when it opened today.

10/9/2008 10:53:33 PM

Eugh, down about 5K today.

10/10/2008 12:06:20 AM

GODDAMN NIKKEI

10/10/2008 12:42:48 AM

Quote :

"Tell me how bat shit crazy I am. I am thinking of buying 100 shares of GM. everybody is against them right now, but they still have plenty of cash. If they can make it through this, then the payoff could be very big. Otherwise, I lose $500 (big deal)."

I'm going to wait for them to file bankruptcy and pull a KMart or MCI. Void all common stock, issue new stock under a new symbol, profit.

I'm too pessimistic these days. I'm looking at a lot of things, but waiting for the right conditions to buy.

10/10/2008 2:18:06 AM

All signs point to the market opening lower yet again, this makes baby jesus cry

10/10/2008 8:34:15 AM

i think the DOW will bottom at 4000 before it starts to stabilize.

10/10/2008 9:30:35 AM

down 900 in 3 minutes??

[Edited on October 10, 2008 at 9:33 AM. Reason : make that a grand]

10/10/2008 9:33:22 AM

ok, I'm officially scared.

and glad that i moved my all of my 401k to MM a moth ago.

and feel lucky that i was in a position where i had to cash out all of my stock options in buying a house.

10/10/2008 9:34:51 AM

this is ridiculous

10/10/2008 9:35:37 AM

approaching 7k......

[Edited on October 10, 2008 at 9:37 AM. Reason : and..... done]

10/10/2008 9:36:33 AM

this shit is crazy, I opened up the viewer and it started at -46 points, a minute later it was -909

I thought it was some sort of website error, at least now it "stabilized" at -573

10/10/2008 9:38:38 AM

wow. just wow.

(went from -200 to -1300 in a few mins)

[Edited on October 10, 2008 at 9:41 AM. Reason : .]

10/10/2008 9:39:10 AM

Dow
8,260.12 -319.07 (-3.72%)

10/10/2008 9:43:38 AM

You have to think we'll get a short covering bear rally before too long with the ban now lifted

10/10/2008 9:44:17 AM

WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!

10/10/2008 9:48:15 AM

Im only down 50 bucks right now today so I should feel pretty good right.. until I check later and the dow is down 700 again I guess

10/10/2008 9:49:22 AM

purchased 100 shares of GM at 4.70. Dont expect it to double anytime soon, but we'll see what happens

The DOW ride is a bit crazy right now. But the way the market keeps wildly swinging, you can tell there is a battle right now between the buyers and sellers.

10/10/2008 9:51:19 AM

Ive been adding a bit of money to my account to average down some more stuff next week if we havent seen any big spikes up by then. Stuff has fallen so far its not taking much money to average down quite a bit so its hard to pass up.

10/10/2008 9:57:28 AM

even for the day.

about to throw in the towel until the DOW reaches 6k

10/10/2008 9:59:07 AM

this is crazy, now im up a decent amount for the day

10/10/2008 10:08:48 AM

Quote :

"this is crazy, now im up a decent amount for the day"

it'd be up even more if it wasn't for the last 30 fucking minutes yesterday

[Edited on October 10, 2008 at 10:10 AM. Reason : ]

10/10/2008 10:10:11 AM

We hit a bottom at 8k, wish I had some more cash to put in.

10/10/2008 10:16:42 AM

We hit a bottom at 8k, wish I had some more cash to put in.

10/10/2008 10:16:42 AM

We hit a bottom at 8k, wish I had some more cash to put in.

10/10/2008 10:26:18 AM

i really doubt 8k is a bottom. i think it was just too much of a drop at once and with that combination of dropping below 8k it rebounded... TEMPORARILY.

10/10/2008 10:31:44 AM

A bunch of buy programs probably got initiated when that happened.

10/10/2008 10:32:17 AM

i just thought if we all said it over and over it'd come true

10/10/2008 10:32:24 AM

for some positive news, oil is around $80 a barrel (down over 5) and unleaded gas is down about another 15 cents to $1.88 a gallon. At the rate it keeps dropping, we might see 2.50 a gallon gas. I actually didnt want gas to fall much below 3.00 a gallon, but now I am not worried too much about the demand side of oil in the nearterm, just want to see some mitigation to all the other economic downers with lower priced crude.

10/10/2008 10:38:13 AM

8,000: The New 9,000

10/10/2008 10:52:19 AM

lol

10/10/2008 11:04:49 AM

in a week: 7000 the new 8000


sold almost everything when dow was even. kept INTC b/c i'm down on it and not worth enough to warrant selling.

my IRA is still in a fund but prob not gonna look at that for a long long time. would have been nice to sell and put in MM a while back, but kinda late for that i think.

[Edited on October 10, 2008 at 11:31 AM. Reason : ]

10/10/2008 11:08:32 AM

Glad I did not have much to lose.

10/10/2008 12:01:53 PM

Quote :

"for some positive news, oil is around $80 a barrel (down over 5) and unleaded gas is down about another 15 cents to $1.88 a gallon. At the rate it keeps dropping, we might see 2.50 a gallon gas. I actually didnt want gas to fall much below 3.00 a gallon, but now I am not worried too much about the demand side of oil in the nearterm, just want to see some mitigation to all the other economic downers with lower priced crude."

http://www.guardian.co.uk/business/feedarticle/7847487

10/10/2008 12:02:41 PM

Watch gas prices still stay up.

10/10/2008 12:04:36 PM

This feels like watching the end of Fight Club, but in very slow motion.

10/10/2008 12:16:23 PM

Haha. Yeah, just insert that pixies song.

10/10/2008 12:21:08 PM