CRASH AND BURN

[Dismal Science]

Another ugly day in the books:

Dow Jones
10,733.83 -391.01 (-3.51%)

S&P 500
1,129.56 -37.20 (-3.19%)

Nasdaq
2,455.67 -82.52 (-3.25%)

[asdfasdf]

Ugly days are good to buy, just placed an order for another chunk of change. Although, that was the last of what I planned to use to buy stocks for a while.

[Dismal Science]

I thought this thread was finally going to die...but alas here we are again.

As of 2:30 pm:

Dow Jones 11,749.69 -420.49 (-3.46%)
S&P 500 1,228.16 -47.76 (-3.74%)
Nasdaq 2,622.45 -105.04 (-3.85%)

Financial Armageddon is here. The debt contagion is spreading! Italian bond yields > 7%. Chaos!

[tenthring]

At what point do you guys get back into the market? I've been hoping for DOW sub 10k as a start.

I'm talking about the 401k stuff you can't touch for 40 years and you don't have a lot of options beyond stock fund and bond fund. My regular trading account is different.

[ElDucky]

Sold my puts on Monday. Oops.

[Dismal Science]

I sold some puts I owned Friday last week. FML.

[fargo]

Originally Posted by Dismal Science

I thought this thread was finally going to die...but alas here we are again.

As of 2:30 pm:

Dow Jones 11,749.69 -420.49 (-3.46%)
S&P 500 1,228.16 -47.76 (-3.74%)
Nasdaq 2,622.45 -105.04 (-3.85%)

Financial Armageddon is here. The debt contagion is spreading! Italian bond yields > 7%. Chaos!

Yet we are still 1,150 point higher on the Dow than the 10/3 close. Everything is contained and fine. Please buy stocks as usual so the 10,000 baby boomers who turn 65 every day have someone to sell to.

Originally Posted by tenthring

At what point do you guys get back into the market? I've been hoping for DOW sub 10k as a start.

Same here; I'm waiting for that true, get me the **** out of here now moment in the market - but right now, there's way too many people who are all-in thinking they'll make up losses of the past X years between now and retirement. If we ever have an, "ok, we need to hit the reset button" decision I'll be all-in and then some as the smoke clears - but right now, we just seem destined to drag this out for years and watch the market inevitably churn away savings.

Italy is going to be a huge factor in the markets, whether people realize it or not - but I'm looking for someone to blow up either because of Italy or because of some other bone-headed move, and for that to haul the markets south in a hurry.

They bring in the MIT economist and its party time. LOL.

[d123454321]

Originally Posted by Irish Blues

Same here; I'm waiting for that true, get me the **** out of here now moment in the market - but right now, there's way too many people who are all-in thinking they'll make up losses of the past X years between now and retirement. If we ever have an, "ok, we need to hit the reset button" decision I'll be all-in and then some as the smoke clears - but right now, we just seem destined to drag this out for years and watch the market inevitably churn away savings.

Italy is going to be a huge factor in the markets, whether people realize it or not - but I'm looking for someone to blow up either because of Italy or because of some other bone-headed move, and for that to haul the markets south in a hurry.

I'm waiting for Dow 1000....that's where we were before the credit bubble of phony prosperity began in the early 1980s..we shall end up back there soon.

Will load some way OTM S&P puts by end of month, in all cash and short-mid term bonds now. also am selling naked puts way OTM on stocks with low PE, lots of cash, safe earnings, and would yield 5-6% if I got assigned (I'd love to buy these at those prices, like MSFT, JNJ, PG, ADP, etc). The put selling + bonds exposure gives me a decent 4-5% annual yield.

When they allow 401k's to short the market because things get so bad, that's when you'll know we've bottomed..probably like 2015-16