DOW Above 7500

[clayinaustin]

The DOW is trading well above 7500. What to the doomsayers have to say about this?

What happened to 6000 or even 5000?

Are these lows still coming?

http://ichart.finance.yahoo.com/instrument/1.0/%5EDJI/chart;range=1d/image;size=239x110

[glassdave]

hey . . . these guys predicted seven out of the last two recessions :D

[phragle]

the yo-yo has yet to stop spinning...

[MarylandMark]

Think it will hold or go higher/lower?

The Japanese Nikkei hit 40,000 in 1989. In the 20 years since has it fluctuated between 20,000 and 8,000 - it was at 8500 yesterday after gaining 20% in the last 2 weeks.

They all put their money into mutual funds just like Americans have been....then their market crashed and it hasn't recovered in 20 years...

If we are on the same path as the Japanese our market will decline until 2027. And the Japanese started out in a better position than the United States.....higher personal savings, lower personal debt, etc.

I'm still 16% in to my 401K so the lower the better but these past 2 weeks have been a welcome "gain" in my book as well.

[Chris]

Recessions end when the employed polulation grows disinterested. If 90% of the people are still working and earning and they stop hiding under their beds and head back to the mall, the recession cures itself.

[Expensive Date]

What Chris said,And we will probably test the lows again by end of April

[MarylandMark]

Well my root question really is-

I'm in the process of buying a house with a 203(k) rehab loan. I am researching my options to have more cash on hand so I can be on my timeline vs the banks. 401K loan is one option I am considering and not talking big money for a long time- $50K for a year maybe.

So- it is high now compared to then, most think it will drop down again- but then what?

I realize none of this is professional advice and all those other disclaimers. I know none of us can see the future but if I would have taken this on 3/09/09ish it would have cost me around $15K more than it would right now since the market is up compared to then.

Just kickin' sand..

[Sea-Dated]

I say the market still goes below 6000 before this is over..............

[Sunsation96]

I hope and pray that we have seen as bad as it gets. Again I pray...

[Ratickle]

Right now the big question hinges on GM, Chrysler, and Ford. If they file, the repercussions in the market will be huge. If you look at what they owe smaller supplies, the suppliers will have to file also. I think that will be a good thing in the long term, but absolutely terrible in the short term.

Any money the government continues to throw at the problem will be lost over time, just how much time is the question. I think it's going up for awhile, then down to where it was last week when a biggie files, then a long steady increase. Don't forget, we're talking about almost 10 Trillion $ in guarantees so far, they don't have it.

I still wish they would have guaranteed AIG's deposits to around 50% and let the company fail, this could all have ended a long time ago. Failing company's do not deserve to continue on. That's why we HAD the strongest economy on the planet for ever.

[glassdave]

Right now the big question hinges on GM, Chrysler, and Ford. If they file, the repercussions in the market will be huge. If you look at what they owe smaller supplies, the suppliers will have to file also. I think that will be a good thing in the long term, but absolutely terrible in the short term.

Any money the government continues to throw at the problem will be lost over time, just how much time is the question. I think it's going up for awhile, then down to where it was last week when a biggie files, then a long steady increase. Don't forget, we're talking about almost 10 Trillion $ in guarantees so far, they don't have it.

I still wish they would have guaranteed AIG's deposits to around 50% and let the company fail, this could all have ended a long time ago. Failing company's do not deserve to continue on. That's why we HAD the strongest economy on the planet for ever.

Amen

[MarylandMark]

Amen +1

If they would let those failing to have failed we would be on the road to recovery by now

[cuda]

Peception is reallity.

[masher44]

IMHO. We have seen the worst of it. It cant get much worse than losing Merrill, Bear and others, then throw in BofA at 3 bucks and CITI at .99. GE at 6. If they are shored up, which I think they are, it cant get much worse. Even if one of the big 3 file, it will help them reorganize and stop selling POS vehicles that no one wants.

May bounce around at this level for a while but the big banks are saved. If GM and Chrysler are saved, it will only get better. Housing is up and sales are up. Unemployment is really the only big concern right now.

[Ratickle]

Even if one of the big 3 file, it will help them reorganize and stop selling POS vehicles that no one wants.



Exactly, it needs to happen.

[MarylandMark]

I pulled the trigger but only on $25K. Under my plan I can take out 2 loans at any given time up 50% of balance with a max of $50K or some thing like that.

See if I'm right or not- dipsh1t is talking tonight so thinking it will tank tomorrow like every other time his trap opens

[fund razor]

I noticed the press conference and also remembered the prior dips, Mark. Will the market? Hmm. Hope its a good speech. :)

[03darkshadow]

so what will happen when the bailout money needs repaid?

[MarylandMark]

so what will happen when the bailout money needs repaid?

If in reference to my loan-

I think of it as in kind day trading with my 401K since I can't take a withdraw without penalties. I have to pay the same amount back but at the price at that time. I did the same thing when the market was around 10K but bought back in the first time it went in the 7's thinking I didn't want to be greedy. That was for $25K as well- which I found out is why I can only do $25K now since it was less than 12 months ago since paid back.

Anyway- (if bailout was directed to me) is I don't plan on blowing the $$; just may come in handy doing this rehab to bridge payments from the bank to the contractors so I can keep the work rolling. I will be paying 2 payments (rent & mortgage) while under construction plus loan stipulations say all construction has to be done within 6 months.

[MarylandMark]

ps- donkey has been talking for a long time which means it will drop like a rock tomorrow... :biggrinjester:

[Expensive Date]

In my opinion this is a classic bear market rally it will drop again maybe a few times but when it does this it is historical close to a true bottom.There will be major Resistance to go below 6s and if it does it will not last long.Financials in general are at a 16 year low and I really believe are in better shape than our government and media wants us to believe.Goldman Sachs announced today it Will be repaying there bailout within 30 days.Bull market this time next year????The only variable is the baby boomer's what Will they do if the market hits 11500 or 12000 will the get out or will greed set in don't know.But there is only two emotions with trading greed and fear it will be an interesting year

[fund razor]

I had to sell about 25k worth of stuff my Mom's stuff to get my Mom out ahead of her expenses now that she is in an assisted living place. It killed me to sell into a 6900 or whatever it was at the time, but I had to do it. At least she has a little left that can ride.

[MarylandMark]

Up 175ish and now back down to up 130ish. Looks like I made the wrong move but I still think overall I will be better off in the long run (meaning my guess is today is a spike and we will go back lower sooner than later).