DOW drops below 8000

[Scar Face]

http://www.bizjournals.com/dallas/st...7/daily39.html

Obviously everyone has heard of this...not really a need for a question or any opening statement really.

[Panzerbear]

I assume it will drop even below 7000. nobody should hold their breath for this winter shopping season... the retail sales will be down big time.

[Boyar Son]

I believe that in economy, it will get worse before it gets better.

[Last Roman]

he retail sales will be down big time.

heh, at the Target I work at, we're beating the sales we had last year.

[Iscariott]

heh, at the Target I work at, we're beating the sales we had last year.

The UPS facility I work at handles a decent portion of the shipping output/input for my entire state. Numbers are dooooooown. I'll wait till the week after black friday, hopefully things will pick up. But frankly we usually hire a couple people a week every week from the start of fall until the end of christmas, thats just how things ramp up.

Since the credit crunch hit, we've been calling people out left and right every week instead of hiring.

(if anyones invested in ups dont worry lol, we always make money. always.)

[Thorn777]

heh, at the Target I work at, we're beating the sales we had last year.

When people dont buy cars and alike, they actually spend more on food and convenient stuff. I work at a liquer-store, and booze sells like carzy.....why?.......shares are down. Im your pusher....

[Lou337]

heh, at the Target I work at, we're beating the sales we had last year.

heh at the Home Depot I work at we've been having "super days" for weeks now. That's when we make a lot

[Panzerbear]

the markets needs to reach bottom. the sooner it happens, the better.

however, with the way those bailout are going, reaching bottom will be a slow and painful process...

[The King Of Peasants]

I assume it will drop even below 7000. nobody should hold their breath for this winter shopping season... the retail sales will be down big time.

I agree people are in a saving mentality(which is a good thing on a personal level) it will take awhile for people to be confident in the stock market to even reinvest as currently its not at all smart so I would say 6k or so before it starts coming up again.

[Justinian]

We're ed, what else is new?

[HunterKYA]

We're ed, what else is new?

Exactly. If there was anyone in their right mind who believed the brief up-turn would last after the bailouts were only kidding themselves, because the economic situation isn't going to swing on the hinges of a couple bailouts. I wouldn't be surprised if the Dow Jones dropped below 6,000, or even 5,000; given the fact that with the complexities of figuring out how to slow the bleeding, nonetheless healing the wounds its caused, won't begin to materialize for between 12-24 months.

[Big War Bird]

Time to buy

[Fianóglach]

Time to buy

You said it!

[Erik]

Time to buy

IIRC you said the same thing when the Dow dropped below 10,000.

[Viking Prince]

IIRC you said the same thing when the Dow dropped below 10,000.

Standard strategy to average the loses -- it just needs bushels of cash when things get goofy. Just remember that you would lose 20% going from 10000 to 8000 and then another 20% on an investment at 8000 going down another 1600 to 6400. This can get expensive, but it does pay off as a strategy as opposed to going all in. Besides if the market never goes back up, the money is worthless in any case.

[Erik]

Standard strategy to average the loses -- it just needs bushels of cash when things get goofy. Just remember that you would lose 20% going from 10000 to 8000 and then another 20% on an investment at 8000 going down another 1600 to 6400. This can get expensive, but it does pay off as a strategy as opposed to going all in. Besides if the market never goes back up, the money is worthless in any case.

I wasn't saying you should never invest in the stock market again.

I just disagree with you that it would be better to step in right after a steep drop than at any other time.

If it were so clear that the next move will be up, then all those millions of professional investors would have figured that out too, but then the market would have anticipated on a rise and we wouldn't be this low right now.

[Hunter Makoy]

I wasn't saying you should never invest in the stock market again.

I just disagree with you that it would be better to step in right after a steep drop than at any other time.

If it were so clear that the next move will be up, then all those millions of professional investors would have figured that out too, but then the market would have anticipated on a rise and we wouldn't be this low right now.

right, as the old saying goes "never try to catch a falling knife". even if u might not end up buying at the absolute lowest, there is no reason to buy in before ur sure its over, and end up losing.

i would not suggest any buying right now. JP Morgan was one stock that was looking good during this whole thing because it was the strongest bank, but now it is at its lowest since 2002. so, go figure.

[Naturalist]

I work at a craft store, and it's as busy as ever. Those old ladies don't pay attention to the economy. Our numbers are always higher than corporate expects, not sure if they're trying to under-project or not though.

We'll see after black friday.

[mrmouth]

Good prices on stuff, if you have money in the first place.

Of course the only thing I currently 'want' is at LL Bean, and they are apparently not doing the whole sale thing...

[touchmaster]

You can blame the liberals and democrats who run congress for this bull