Stock Market Off Sharply Today

bob cole

bob cole

Well-known
Local time
4:05 PM
Joined
Feb 12, 2006
Messages
592
The New York Stock Exchange is still open at this time but stocks are down sharply because of unfavorable economic news...
 
stock market alternative

stock market alternative

Hmm,
Maybe buying that MP3 Black Paint would be a good hedge to the market.
clicker
 
And what exactly has this to do with rangefinders? One could at least link to a discusssion of whatever "news" might have been involved?

I did see a news item on Yahoo! about new housing sales being down, and worries about the mortgage maket, but unless you have been hiding under a rock, that isn't exactly news. I'll bet that some of the big investors just took some money off the table as the Dow is still up for the year at this point. Move along, nothing to see here...
 
Last edited:
One of the most enlightening explanations about the markets is this adage:
"The price precedes the news"
Which means, that AFTER the prices have moved substantially, people, who like to find a rational explanation to everything, try to correlate some piece of news with the move that has taken place.
If markets moved in a rational way, they wouldn't exist , because a bullish news would turn everybody a buyer, and bearish news would turn everybody a seller, and there would be nobody on the other side of the trades, and the demand wouldn't be able to meet supply.
Therefore, trying to attach a precise reason for each market move, is a bit like trying to explain rationally a human decision taken on a whim.
 
Al Patterson said:
And what exactly has this to do with rangefinders?

The stock market decline -- which was down more than 300 points or 2% -- has a lot to do with almost everything you buy...

It makes people nervous and when they're nervous, they sit on their money...

Unless the market recovers dealers will have to reconsider price increases because the high price of gasoline is eating up disposable income and the growth of home-mortgage woes is affecting a lot of people who might otherwise spend money on luxuries -- like cameras...
Click to expand...
 
Last edited:
Hmmm, relevance... Many of us RF fiends use Apple Macintosh computers, and so Apple stock might be of interest. Despite the blood-letting elsewhere, Apple stock closed at $146 today, up 6.4% from yesterday and an all-time high closing price I believe. It did get over $150 during after-hours trading last evening. This is not due to iPhone influence, but from very strong quarterly earnings reported yesterday after the market closed, the 11th straight quarter of increases. Go Mac! :)
 
bob cole said:
Al Patterson said:
And what exactly has this to do with rangefinders?

The stock market decline -- which was down more than 300 points or 2% -- has a lot to do with almost everything you buy...

It makes people nervous and when they're nervous, they sit on their money...

Unless the market recovers dealers will have to reconsider price increases because the high price of gasoline is eating up disposable income and the growth of home-mortgage woes is affecting a lot of people who might otherwise spend money on luxuries -- like cameras...
Click to expand...

Give me a break! The stock market has to do with what I have invested, not what I'm thinking of buying. If I want to buy a rangefinder, or a car, or a house, all I care about is "Can I afford it?"

I've been through a number of 10% corrections and a few bear markets in my time. This one day occurance means I'll watch the market a bit more over the next week or so, but your broad sweeping statement may not be warranted at this time.

You guys crack me up. And besides, this belongs "Off Topic".
Click to expand...
 
Stock Market Off Sharply Today

Al, the stock market has a lot to do with people who don't have even a penny in the stock market...Most newspapers around the world will make it their biggest story today and tomorrow...The news scares people with money and that affects people without money...
 
Doug said:
Hmmm, relevance... Many of us RF fiends use Apple Macintosh computers, and so Apple stock might be of interest. Despite the blood-letting elsewhere, Apple stock closed at $146 today, up 6.4% from yesterday and an all-time high closing price I believe. It did get over $150 during after-hours trading last evening. This is not due to iPhone influence, but from very strong quarterly earnings reported yesterday after the market closed, the 11th straight quarter of increases. Go Mac! :)
Click to expand...

Right you are, it's IN SPITE of the iPhone shipped numbers. I just wish I bought a boatload more when I bought some shares for my IRA back when it was 15!
 
Bob, I disagree. This is a ONE DAY occurance. I lost a few thousand dollars in the market drop in 1987, and was back to even within a year. I worry more about the value of the dollar in relation to the yuan, yen or euro than what the Dow does. And besides, how does the Dow inpact the price of an M6 on eBay or a R2M at one of the sponsor sites? Competition between various vendors has a more causal link to pricing than the Dow.

And if I buy a camera for CASH, what do interest rates have to do with it? We may in fact be in deep stuff, but again, your "sky is falling" attitude is unwarrented until there is further data.

But then again, some of us are blind to data, and just react to whatever some talking head on the boob tube says. Relax, have a cold one and wait until we see what happens tomorrow.

I have money in the markey and I'm not woried... YET. Then again I'm old enough to have some perspective.

You still crack me up...
 
Stock Market Off Sharply Today

Al, we are going through a market correction. First it was the continuing rise in the price of gasoline, which has affected not only the comfortable but also thousands of people on the edge...Now, with the fallout from the reckless purchase of sub-standard mortages by some of the best Wall Street firms [on behalf of thousands of their wealthy clients], lenders are working around the clock to see where they stand...

Homes, except in some hot markets, like Manhattan, are not selling as fast and prices are dropping...Real estate brokers are not selling as fast or as much now...Mortgage brokers are laying off people because they see difficulties...Home sales generate millions in other sales that aren't happening because of weak home sales...

Of course, companies like Apple and others are not affected... but could be at some future time. People with cash are not affected, unless they feel they might wait a while to see what happens...Meanwhile, the stock market drop reflects uncertainty... As for your years, I can match that and a lot more...
 
Last edited:
There is a possible ripple effect as people don't invest in funds which do most of the stock trading, or run to treasurey bonds. The whole problem is the paradigm shift over the last 15 or 20 years where everything is dictated by the bean counters. They have become powerful executives in their own right, often with yea or nay say so over others in the business, as opposed to the simple accountants who simply tell you every quarter if you won or lost. Plus which, everything is for the short terml. Nobody much looks at the long term for their profits. If you don't make them on a daily basis based on trades, you just aren't with it.

For truth in speaking, I don't invest every penny I have. I come from an age when "stock market" was a dirty word. My parents went through the depression and didn't like it. Everybody knew is was the stock market crash, not businesses. So stock market investing wasn't for them, nor me. Keep that in mind when you evaluate what I say for wisdom or intelligence.
 
bob cole said:
Al, we are going through a market correction. First it was the continuing rise in the price of gasoline, which has affected not only the comfortable but also thousands of people on the edge...Now, with the fallout from the reckless purchase of sub-standard mortages by some of the best Wall Street firms [on behalf of thousands of their wealthy clients], lenders are working around the clock to see where they stand...

Homes, except in some hot markets, like Manhattan, are not selling as fast and prices are dropping...Real estate brokers are not selling as fast or as much now...Mortgage brokers are laying off people because they see difficulties...Home sales generate millions in other sales that aren't happening because of weak home sales...

Of course, companies like Apple and others are not affected... but could be at some future time. People with cash are not affected, unless they feel they might wait a while to see what happens...Meanwhile, the stock market drop reflects uncertainty... As for your years, I can match that and a lot more...
Click to expand...

One day does not a correction make. I'll say it again that yes, this deserves watching, but I don't panic easy.

And the Dow could still hit 15,000 this year. Or 12,000. Or even both. I still don't see any connection to rangefinders however. I do wonder what your agenda is, and why you post this stuff here. Me, I'm bored, so I'll play until I have to go to sleep or the mods close the thread.
 
Last edited:
oftheherd said:
There is a possible ripple effect as people don't invest in funds which do most of the stock trading, or run to treasurey bonds. The whole problem is the paradigm shift over the last 15 or 20 years where everything is dictated by the bean counters. They have become powerful executives in their own right, often with yea or nay say so over others in the business, as opposed to the simple accountants who simply tell you every quarter if you won or lost. Plus which, everything is for the short terml. Nobody much looks at the long term for their profits. If you don't make them on a daily basis based on trades, you just aren't with it.

For truth in speaking, I don't invest every penny I have. I come from an age when "stock market" was a dirty word. My parents went through the depression and didn't like it. Everybody knew is was the stock market crash, not businesses. So stock market investing wasn't for them, nor me. Keep that in mind when you evaluate what I say for wisdom or intelligence.
Click to expand...

I agree with you. Another problem I have is the move from defined benefit plans to defined contribution plans. I have a buch of retirement money in the market, but for short term I stick with cash.
 
The market was down early 450 before rallying to close down 311.

Sounds like my golf game this afternoon.
 
Al's right on all accounts, though I don't care much for his aggressive responses. A one day high or low is not a correction and is not the beginning of the end of the world. 2% is big but that's it. When the DOW goes up 2% tomorrow no-one is complaining. If it goes down 2% all of a sudden people with little knowledge and a little money get all shaky and worried. If you invest, it's for the long run. But I reckon no-one is doing that anymore, speculating instead. And when you speculate, you take risks, big risks. It's what you're in for, right? Big risks can mean big returns, right? And big losses too. I personally am waiting for the US market to collapse, which it should have done about 2 decades ago already. And when it happens, it'll be a hard time for all. Then Leica prices will skyrocket.
 
Makes me laugh.
This stock market week was the worst since...2003! (Four years ago! An eternity.)
There has been nothing comparable since...February! (Another eternity -- two eternitys in one week!)
This could be it! The End!!!!

JC
 
You must log in or register to reply here.
Back
Top Bottom