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Marth · 10-06-2008, 10:11 PM

Dow plunges as much as 800 points in new record for one-day point drop. Think it's hit bottom & will turn around now, I'm planning to invest in it now, with diversified funds. What do you guys think?

Restrikted · 10-06-2008, 11:43 PM

The main reason it dropped today was because of investors' worries about the global economy, not the US financial crisis, so in my opinion, it's impossible to judge what's going to happen next. But many wealthy investors think it still has a ways to go. Jim Cramer thinks the Dow could drop as low as 8,300. I honestly think the market is too volatile to do anything in right now. What were you planning on investing in?

tycoondreamer · 10-07-2008, 12:35 PM

Quote:

Originally Posted by Marth

Dow plunges as much as 800 points in new record for one-day point drop. Think it's hit bottom & will turn around now, I'm planning to invest in it now, with diversified funds. What do you guys think?

Just my two cents and don't take it for professional advice since I'm no professional. But it seems the market is reacting in an irrational way. Basically the market dropped after the bill wasn't passed. And then it dropped again after the bill was passed. So what does that tell you? Well, basically the general public is panicking and is not thinking clearly. It is way too volatile to get back in now. You don't want to get in and find the public stampeding towards you.

Best thing to do is wait it out until early next year. By the way, the election will also have a major impact to the market movement.

Just remember one thing: The stock market does not like uncertainty.

The markets are ruled by Fear and Greed. Right now the general sentiment is fear.

I would wait to see if any of the big boys (Warren Buffett, Bloomberg, Soros, etc) starts making a move. These are the guys who will start buying things up first. They have a pretty good feeling of when the market have bottomed out since they live and breathe this stuff.

Once they move, get ready for your chance. There will be another stampede to the upside. This will be a "greed-based" stampede. Get in in front of the herd and you will make loads of money.

Still Growing · 10-07-2008, 12:55 PM

Wait until it goes lower before you start buying.

10-06-2008, 10:11 PM	#1 (permalink)
Marth Senior Member Join Date: Apr 2008 Posts: 284	Market plummeted again Dow plunges as much as 800 points in new record for one-day point drop. Think it's hit bottom & will turn around now, I'm planning to invest in it now, with diversified funds. What do you guys think?

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10-06-2008, 11:43 PM	#2 (permalink)
Restrikted Senior Member Join Date: May 2007 Posts: 233	The main reason it dropped today was because of investors' worries about the global economy, not the US financial crisis, so in my opinion, it's impossible to judge what's going to happen next. But many wealthy investors think it still has a ways to go. Jim Cramer thinks the Dow could drop as low as 8,300. I honestly think the market is too volatile to do anything in right now. What were you planning on investing in?

10-07-2008, 12:55 PM	#4 (permalink)
Still Growing Senior Member Join Date: Nov 2006 Posts: 944	Wait until it goes lower before you start buying.

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