I want to buy more sometime (maybe I'm a masochist, I don't know). What do you guys think is the bottom? My guess was 7500 about a week ago, now I'm not sure. Someone said 4500, but that seems insane....
It has hit bottom
my guess that the bottom is somewhere around the DOW 7k, its just my gut feeling but i'm not good at predicting these things....
we went as low as 7800 on friday and theres lots of panic world wide about all financial institutions, we can call this a crash a meltdown what ever.... nobody knows where the bottom is I hope I'm not too far off with my guess on the low side!
If I had a bank account full of extra cash right now, I can promise you I would invest every bit of it in the stock market.
Think about it, 2 things can happen.
1. The stock market goes up and down and up and down etc. etc. etc like it usually does, but in the end it recovers and goes up, and WAY UP (It has to, look were the DOW is at now) - RESULT - YOU CASH OUT WITH LOTS OF $$$
2. Stock market crashes, it's one or the other really, so say the stock market crashes, though I find it unlikely - RESULT - YOU LOSE EVERYTHING YOU INVESTED, but WAIT, the stock market just crashed, the US doller is now worth nothing, so everyone that DIDN'T invest also lost their money.
I've heard a lot of people say, gradually buy all the way down. I don't have the liquid money to do that strategy. I can buy once, maybe twice, so I have to try to figure out where the bottom is.
The real winner to buy this week is GPM. Its GM's 6.25% yield bonds, original pricing $25, maturity of 2033. Right now trades at $5 a share. So you get $1.56 in interest a year from GM, plus the odds of the US Govt allowing GM to go into bankruptcy is about 0, particularly if they purchase chrysler too.... So in 3 years you make your money all back, and should still be able to resell it at that point for a profit besides
This space for rent
Come visit my log http://anabolicminds.com/forum/suppl...-up-level.html
Geese, when i did my pick of 7k the down was at 9500 back in early October... its hard to phantom that its broke through the 7k and approaching the 6k mark and just yesterday someone was predicting a dow bottom range within the 4k mark. I'm starting to think wall street will soon disappear!
I'm 100% confident that the market will fluctuate.
I think once this rally breaks and we get bad news we'll retest new lows and get around 5500.