Mister Moobs Posted October 29, 2009 Report Share Posted October 29, 2009 A friend of mine who I was too stupid to listen to last time PM'd me last night on another message board. Said it was time to get out. It's all about to happen again. The market is gonna knock off another 30% in deja vu fashion. Said the exact same reason as last time because no one learned the lesson. What do you market experts think? He called it exactly right last year and he's saying it's going to happen again soonest. Any opinions from the TF peanut gallery? Link to comment Share on other sites More sharing options...
Cosmo Posted October 29, 2009 Report Share Posted October 29, 2009 A friend of mine who I was too stupid to listen to last time PM'd me last night on another message board.Said it was time to get out. It's all about to happen again. The market is gonna knock off another 30% in deja vu fashion. Said the exact same reason as last time because no one learned the lesson. What do you market experts think? He called it exactly right last year and he's saying it's going to happen again soonest. Any opinions from the TF peanut gallery? IMHO, the factors which caused last year's collapse is just not there. Personally, I believe it is just a correction....the market has had a tremendous run from the lows of March.....currently, it is overvalued. But I doubt it will correct some 30%. My personal opinion is for a 5 to 10% correction. Link to comment Share on other sites More sharing options...
Flipamerican Posted October 29, 2009 Report Share Posted October 29, 2009 http://finance.yahoo.com/news/Stocks-slide-as-new-home-apf-2366648304.html?x=0 Link to comment Share on other sites More sharing options...
Flipamerican Posted October 29, 2009 Report Share Posted October 29, 2009 "The Roaring Twenties, the decade that led up to the Crash,[5] was a time of wealth and excess, and despite caution of the dangers of speculation, many believed that the market could sustain high price levels. Shortly before the crash, economist Irving Fisher famously proclaimed, "Stock prices have reached what looks like a permanently high plateau."[6] The optimism and financial gains of the great bull market were shattered on Black Thursday, when share prices on the NYSE collapsed. Stock prices fell on that day and they continued to fall, at an unprecedented rate, for a full month.[7] The October 1929 crash came during a period of declining real estate values in the United States (which peaked in 1925) near the beginning of a chain of events that led to the Great Depression, a period of economic decline in the industrialized nations." Seems there may be some parallels here. Hope not. http://en.wikipedia.org/wiki/Black_Tuesday Link to comment Share on other sites More sharing options...
beej Posted October 29, 2009 Report Share Posted October 29, 2009 I got out a few weeks ago, I wish I'd stayed in on some, but happy I got out of others. Will get back in if/when it crashes again, if not I'll bung it into property mid crisis winter back in Europe. Link to comment Share on other sites More sharing options...
condotown Posted October 30, 2009 Report Share Posted October 30, 2009 With all the (TARP and Stimulus) dollars that have been printed out of thin air in the past year the Dow should be on the moon. Unfortunately growth cannot be forced. There must be contraction, and the hot potato cannot be passed around indefinitely. And when the hot potato drops, it's going to make the crash of 1929 look like a walk in the park. Just like Religions and Governments, the current monetary system was invented by man and is extremely flawed. Just like the Greek and Roman gods and the ancient forms of governance, this monetary system is going to go through some major changes. We all wish we could time the markets.... I'm mostly out. Link to comment Share on other sites More sharing options...
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