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  #21  
Old 02-20-2009, 06:51 PM
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Did anyone catch this crazy move in the EURO ???? It went straight vertical for nearly 300 pips within 30 mins. This is unheard of. The US Dollar was attacked on almost all currency pairs at the same time. Something is wrong.
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  #22  
Old 02-20-2009, 06:54 PM
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yes, something is wrong - the banks are about to be nationalized and shareholder value will be wiped out. Or that is the fear anyway. Currency will take beatings all over the world - Gold is on the way up.
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  #23  
Old 02-20-2009, 07:20 PM
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Originally Posted by X5rolls
yes, something is wrong - the banks are about to be nationalized and shareholder value will be wiped out. Or that is the fear anyway. Currency will take beatings all over the world - Gold is on the way up.

I understand what you are saying, but this is nothing like that. This is a massive intervention in the USD. It was a coordinated move that would have required billions to accomplish. For all we know it could be the good ol' PPT. Who knows.
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  #24  
Old 02-20-2009, 11:42 PM
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Anyone know what will happen to my GM stock if they declare Chapter 11? I only have about 750 shares but still... GM is under $2 now. Would it be too risky to buy more???
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  #25  
Old 02-21-2009, 12:17 AM
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Call me crazy... I am buying today. Everything's on sale!
Yes I rebalanced the 401 K and purchased more stock index with money market funds. I only purchased a little but I did buy.
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  #26  
Old 02-21-2009, 12:28 AM
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Originally Posted by Lambeau
Anyone know what will happen to my GM stock if they declare Chapter 11? I only have about 750 shares but still... GM is under $2 now. Would it be too risky to buy more???
GM stock will be worth pennies to zero if they file ch 11.
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  #27  
Old 02-21-2009, 08:31 AM
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hmmmm.... ok, any better idea yet? You have my curiosity.


Quote:
Originally Posted by lakai
I understand what you are saying, but this is nothing like that. This is a massive intervention in the USD. It was a coordinated move that would have required billions to accomplish. For all we know it could be the good ol' PPT. Who knows.
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  #28  
Old 02-23-2009, 04:15 PM
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Call me crazy... I am buying today. Everything's on sale!
You crazy. Dow dropped to 1997 level and will probably hit under 7000. Good luck.
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  #29  
Old 02-23-2009, 05:09 PM
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I'm very curious as to how low the stock market can go. (Of course, we don't really have anything in stock, so we're sitting on the sidelines watching)
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  #30  
Old 02-23-2009, 07:19 PM
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Originally Posted by LeMansX5
You crazy. Dow dropped to 1997 level and will probably hit under 7000. Good luck.
What's another 1 or 2 %? If you think it won't go much lower than 7000 then now is the time to load up.

I think it will get much worse though, more like 10% from here (< 6500)
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