WOW today was bad!
 

I leave for 10 min to help roommate change a flat and all when I come back we're down 700pts WOW!!! That's so bad I almost just have to laugh. My TD account took a nice one to the gut. Guess I'll be going longer than I had hoped for.

At least oil shot down to a new low we haven't seen in a while. However the price is still going to stay high due to the refining costs.

What moves are some of you making in this turmoil? Buyers market or holding out? I couldn't resist AAPL so went long with JAN CALL options at $115. Hopefully they'll announce this beauty at their upcoming conference. The execs just practiced their options so I'm sure they'll be doing anything they can to pump the price back up.

http://blog.wired.com/photos/uncateg...cbooktouch.jpg

I don't own any MAC products.... but I want one!

Yeah, the pain is just starting. I honestly don't know what to do with my 401k. It's of course dropping like a fly, and I'm tempted to re-allocate everything into low risk funds - but then again I'm young and need to learn to ride this crap out.
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Also - any bets as to how the airline industry will look in a year or so? I'm thinking a lot of people are going to be put on the street. Make those backup plans if you haven't already. It's going to get very ugly!!

Its actually nice to be forced out now than to try to find work later. I'm ready for the markets to take an even bigger decline; if only our government will let it. Being fiscally conservative now will help once things start to rebound. I have a very small IRA that I'm going to let ride. Everything else is in savings.

You said it best in the last part of your quote that I have boldfaced. Do exactly what you typed - ride it out. The market does not like fear and uncertainty. The biggest thing everybody is waiting for right now from D.C. is an answer. Regardless of whether the bailout is approved or not, an answer will provide the market with the type of playing field it will have and thus will react accordingly. The uncertainty is creating some fear and that fear is affecting the market. That is why we saw it drop 777 points today.

10 years from now your 401k will still be intact and it will be worth a lot more than it is today. It goes down and comes back up. Over the long haul your ups far outweigh your downs and you will come out ahead. Not just my opinion, but a fact based on historical data. And with a 777 point drop, the market still closed above 10,000.

I wish I knew. This industry is so sensitive to just about anything, that it's stability is unpredictable in both good and bad financial seasons.

Did you end up shorting BAC.... down to $30?