Market Freefall Today (Wed Aug09)

JohnL said: "This was simply a disappointing day. Everything started off so rosy then turned so dark."

Lagg-Alot said: "Cramer is Screaming about a Recession :eek: Leave it to the FED to F%$& everything up :mad:"

JohnL said: "Cramer screams about everything."

ADEBISI said: "[QUOTE=JohnL]Cramer screams about everything.[/QUOTE] haha true that"

Mr. Gekko said: "It was an odd day. Stocks that should do well with a fed pause and an economic slow down were mixed. For example, I own PG and SGP. Both, supposed, recession proof stocks... but, PG was down 0.30% and SGP was up 0.35%. Go fig?! :confused: I think that the free fall today was caused by the oil inventory numbers (or the lack thereof)."

Darren said: "It's tough to bullish. How can you not be concerned with energy costs?"

Harry said: "Yeah, if the FED doesn't do it, fuel costs will cause the next recession."

Rickster said: "If you pay attention to the news (I dont) and the headline indexes (I do, but not the way most people do) you would think things are depressing. But the NYSE summation index has been moving up strongly for almost 2 months now, and the NYSE composite is making higher highs and higher lows at the normal rate. The Naz has been trying to form bottom. Here are links to market indexes that I prefer over the headline indexes. [url]http://stockcharts.com/charts/indices/McSumNYSE.html[/url] [url]http://stockcharts.com/charts/indices/McSumNASD.html[/url] If the current uptrend continues, we could make a new NYSE high within a month or two. If it fails, we could take another hard down drop as sometimes happens in Sept/Oct. My gut tells me that since everyone expects weakness, the surprise value is to the upside. Add to that, elections are coming. So, I am all in, but only with stocks that I would expect to bounce back if I am wrong and we take another dip. In that happens, I will probably move more money into my stock account to pick up a few bargains. A little commentary on summer markets. After May, the stock market tends to get slow and soft. There is an old saying, sell in May and go away. The reason is that the big guys traditionally take the summer off and park their money in a safe place until they return. Add to that, little guys (especially first time winners) like to spend their stock profits on vacations. Then in the fall, even more money gets pulled out to pay going back to school expenses. (A significant chunk of the market is the "college fund.") Of course, this all gets reversed as the big guys return, IRA money starts coming in, and holiday cheer blooms. OBTW. It is also common to have a pre-election scare."

AlfredSokol said: "I think now is the time to buy. Sell again in late November."

thezster said: "but - I'm loading up - slowly but surely - in my "long term" account. My favorites that I play daily are also great long term equities IMHO... and I'm hanging on to some for the long haul.... If we end up with a total realignment of investor sentiment and prices stay low forever (c'mon)... then I'll sit and make a piddly percent or so yearly with them.... However - if (when) we recuperate - I think I'll be sitting pretty...."

AlfredSokol said: "I see lower lows coming when the severity of the news settles in."

thezster said: "[QUOTE=AlfredSokol]I see lower lows coming when the severity of the news settles in.[/QUOTE] Which is why I''m sitting about 40% cash right now.... waiting.. waiting..waiting...."