I hope you guys are watching Cramer right now!!! It's hilarious. He realizes how much his opinion swings the market so he's specifically not saying the names and acknowledging it lol

TD:

Cramer is good.....but to say that he caused the market here in the U.S. to take a dive....IMHO, that's stretching it because by no means is he a Paul Volker and definitely not an Alan Greenspan.


Just my .02.



atp

I know he didn't that's part of what makes it funny. Cramer doesn't drive the entire market. It was funny watching him talk about a bank but not mention the name because he's afraid he'd cause a run on it.

However Cramer can make a stock fluctuate like no other. A senator is labeled with closing down Indymac don't think Cramer can't swing people to sell all their shares in certain institutions.

Yeah, you're right. I've watched on him on MSNBC's Financial Report (forgot the actual name of his show) and he can get really animated. LOL.

Caught him on the Today Show yesterday and today with Ann and Meredith respectively.



atp

Next stop-eight thousand.

I don't think I'd be smiling about that. Our economy is sinking at an increasing rate.

Morbid satisfaction in being right perhaps?

Jungle's got it right. The support is the 2002/2003 lows. Once the Dow broke 10,000 that became the only technical support level. So look for something around 7500 to 8000 as the near term low. It could happen as early as tomorrow. Then it's quite possible there will be a rally off that low of 5 to 10%. If that's followed by a re-test of the low ( a W shaped bottom on the chart ) then a base may have been built. It's hard to say now though with so much government intervention in the markets and nationalization of financial institutions.

My bet is that we'll be in a bear market for at least 3 years and possibly much longer. Most people seem to use the logic of the post 1982 era as their foundation for making statements about buying on the dip and dollar cost averaging. Use that logic for the 1967 to 1982 time frame and all you would have done is lose money to inflation as the value of your portfolio stagnated.

If you are young a long term sideways market isn't the end of the world. It would give you the opportunity to buy for many years at roughly the same price. When the market does turn up again you'd have a very good base to start from.

With the amount of negative sentiment in the market as indicated by S&P put options a "bear squeeze" could make for an even larger move up. The trick is timing it right. That means buying near the bottom and then selling near the top because it will inevitably fall again based on economic fundmentals and the ongoing financial turmoil.

That's my two cents.



Typhoonpilot



P.S. Gold did really well in the last big bear market, making it's high very near the end of that bear market. Have at least 5% of your portolio in gold.

I think a lot of what we saw today was driven mostly by fear and uncertainty. i.e., more emphasis on emotion than economics.

At $45, does anyone think Boeing will go any lower?

I even remember ToiletDuck I think it was, saying on here how $65 or something around there was way undervalued.

Here it is at $45...AAPL at $88...etc.

Anyone have an opinion?