I'd rather not talk about this, it's so depressing. I feel for those who are near retirement or have to come out of retirement due to this crisis.

 

For those who have cash on the side waiting to buy in, my advice is to only buy on massive dips. Yesterday was a good time to buy within the last 10 minutes of trading, then sell into the rally early this morning - this is how a lot of money is being made.

All rally's for the next while will be sucker rallies - i.e. they are just temporary highs before new lows.

Anyhow, at the end of this, I think there will be a small few that will get extremely rich off of this - the shorters and those that catch the market near the bottom and hold on for the ride up.

For those of you that are sitting on companies that are fundamentally sound - just stay there and do not bother looking at your portfolio.

I have watched companies drop 80%, companies that have been posting net profits quarter after quarter. It is just rough.

I actually lost most of my savings earlier this year on a spec play, stupid move of me, and I vow never to put more money than I can afford to p!ss away again into a spec play. Terrible move.

Good luck to the longs here, but right now this is a day traders paradise. The spreads we have been having here can make a day trader rich - of course with a good amount of luck to time his moves well.

 

When the whole market dives (the way it has lately) then everyone hurts. The only one's to make money in that instance are those that are playing in futures.

With regards to current markets, I'm taking a hit as well. On the flipside, I've kept some funds aside and been sitting in a cash position - only because I was being negligent and hadn't made the time to make any investments recently. As a result, I'm in a position to buy in - but I'm not touching it with a ten foot pole. Not right now.

There will be a recovery. No doubt about that, just a matter of time. It won't happen in Q4 of '08, but I would be surprised if this lasted longer than Q2 of '09.

It may not turn around as quickly as it slid downhill, but it will not take that long to recover.

Just have to weather the current storm. I feel bad for the parties that were hoping to retire on the market and had invested a lot of their retirement savings. A LOT of baby boomers out there were looking to pull some funds and sail off into the sunset ... they may be looking for jobs down at the pier now Hopefully they manage some sort of financial recovery sooner rather than later.

'06

 

i lost my set of volks....
thats abt it.......
lol pretty sad...........

Damn

 

to b honest people who r about to retire should have convert their investments to more liquid and less risky investments.since they need it pretty soon. if they havent , im sorry to say its either their or their investmen advisors fault.

 

At the beginning of the summer I bought a nice clean low low km G35 Coupe 2003, and had some cash left over which i wanted to invest in the car but my gut advice was to invest into my investment account, since I work at a brokerage firm. After 7 months of investing my investments are 65% down and get margin calls every day and sometimes get a little break for a few days.

It is ridiculous to see some older people who lost their retirement completely.
Just the other day I had to do a RIF payment for a older person and had to liquidate the account. Poor guy didn't even have enough for a years payment and last year his account was around the 100k mark.

Sad times and I fear more it will come, I cant help it but see bad times for Vancouver which will be hosting the 2010 Olympic Games. The property prices have skyrocketed and unfortunately there is a ton of people losing their jobs...
I fear to see some folks lose their jobs and have huge mortgages meanwhile the house next door is half the price of what they paid for and newer...

 

It's going to get a lot worse before we see any kind of recovery. This is just the tip of the iceberg.

 

Exactly. Get out when we have these "suckers rallies" as we have had the past few days, then get back in lower. Time to day trade and play the spreads. However as most of us know, timing is everything, and its very difficult to time the market properly.

 

All these bail out measures that the US government is supporting are doing nothing but adding fuel to the fire. The root cause of this whole mess was too much liquidity, and they are trying to fight that with more inflation? That doesn't make any sense. The only thing I would be long on right now is gold.

 

I am thinking of getting in a bull ETF on gold once it comes back a bit. Lots of talk about the the US dollar busting soon and everyone going into bullion.

 

It will bust, it's just a matter of time until China and Japan stop buying up US treasuries which has been financing America's addiction to consumption. I don't think you can go wrong with gold in the long term.