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Cody Dawg · Jan 23, 2006, 08:11 AM

Today is Black Monday for a number of reasons.

With the stock market sell off on Friday, Ford expected to announce 25,000 job cuts and 10 plant closings, oil at $70 a barrel, and threats of more instability in the Middle East, this bodes to be a bad day domestically in the financial markets.

Any predictions? If you own stock are you selling out?

I have stock in tech stocks, but no way am I selling out. A loss in the markets is a loss on paper and not in reality and if I were to sell my loss would be a reality.

RAILhead · Jan 23, 2006, 08:17 AM

Buy when it's low, so no, I won't be selling anything!

w00t!!11!

Cody Dawg · Jan 23, 2006, 08:23 AM

Will you be buying then?

I'm not selling, but I ain't buying either!

Just saw Lou Dobbs on television morning news and he was saying that the middle class is "being assaulted and is going to be wiped out soon because of the economy."

Maybe he's right. I'm not sure. Thousands and thousands losing their jobs, people trapped themselves in unbelievably tricky (initially low then high - some are ARMS maturing right about now) second mortgages, people have credit cards to the max, and now the stock market bombing, who knows, you know?

All I know is that I got rid of ALL of my debt two years ago and am I ever glad that I did.

Good thing mom has a job too (that's me

).

Big Mac · Jan 23, 2006, 08:34 AM

Iran is going to cause the world-wide economy a significant amount of pain. This very well could be a Black Monday - I had exactly the same thought.

demibob · Jan 23, 2006, 08:35 AM

Originally Posted by Cody Dawg

Today is Black Monday for a number of reasons.

With the stock market sell off on Friday, Ford expected to announce 25,000 job cuts and 10 plant closings, oil at $70 a barrel, and threats of more instability in the Middle East, this bodes to be a bad day domestically in the financial markets.

Any predictions? If you own stock are you selling out?

I have stock in tech stocks, but no way am I selling out. A loss in the markets is a loss on paper and not in reality and if I were to sell my loss would be a reality.

i think it was 29 000 job cuts

apple shares have droped over ten % this week to

turtle777 · Jan 23, 2006, 09:21 AM

Originally Posted by Cody Dawg

Black Monday: What's Happening Today?

My prediction:
The sun is gonna rise, stay out for a couple of hours and then leave because of depression.
I'll be grabbing lunch sometime around noon.

Cubeoid is gonna post eleventy billion "Awesome" posts, and Rob will register two new nicks and get one of them banned.

It's an average day, if you ask me...

-t

Cody Dawg · Jan 23, 2006, 09:42 AM

And you can post somewhere else if you can't stay on topic.

Thank you.

turtle777 · Jan 23, 2006, 09:54 AM

Originally Posted by Cody Dawg

And you can post somewhere else if you can't stay on topic.
Thank you.

Sorry for disturbing your blog.

AWESOME

-t

Cody Dawg · Jan 23, 2006, 10:08 AM

You don't know what in the hell a "blog" is, jerk.

This is a THREAD about what PEOPLE "think" will happen today.

Why do you post anyway? Go away and take your little ball(s) with you.

Kevin · Jan 23, 2006, 10:15 AM

Why is it when anyone else makes a thread, it's a thread, but when Cody posts people whine about blogs?

Come on turtle, I expect better from you.

turtle777 · Jan 23, 2006, 10:19 AM

Originally Posted by Kevin

Why is it when anyone else makes a thread, it's a thread, but when Cody posts people whine about blogs?

Not true, cube's stuff would not even qualify for a blog

Originally Posted by Kevin

Come on turtle, I expect better from you.

Muahahaha. I don't know why Cody lost it here. It's a running gag, for Pete's sakes.
And if everybody would bitch everytime somebody would post someting OT in the Lounge, OMG. The hampstor would be dead

-t

euchomai · Jan 23, 2006, 10:19 AM

Black Monday? I thought martin luther king day was a couple of weeks ago.

finboy · Jan 23, 2006, 10:30 AM

Originally Posted by Cody Dawg

Maybe he's right. I'm not sure.

Well, there's a first time for everything.

Kevin · Jan 23, 2006, 10:35 AM

Originally Posted by euchomai

Black Monday? I thought martin luther king day was a couple of weeks ago.

wdlove · Jan 23, 2006, 10:39 AM

Originally Posted by Cody Dawg

Today is Black Monday for a number of reasons.

With the stock market sell off on Friday, Ford expected to announce 25,000 job cuts and 10 plant closings, oil at $70 a barrel, and threats of more instability in the Middle East, this bodes to be a bad day domestically in the financial markets.

Any predictions? If you own stock are you selling out?

I have stock in tech stocks, but no way am I selling out. A loss in the markets is a loss on paper and not in reality and if I were to sell my loss would be a reality.

Hi Cody,

I think that you are being very wise. Time is on your side.

Dakar · Jan 23, 2006, 10:49 AM

Originally Posted by euchomai

Black Monday? I thought martin luther king day was a couple of weeks ago.

ZING!

For some reason that seems like something that would be said on the Boondocks.

Cody Dawg · Jan 23, 2006, 10:52 AM

My son watches Boondocks.

He's 13.

Dakar · Jan 23, 2006, 10:55 AM

What's he doing up that late to begin with?

HAHAHAHA

zerostar · Jan 23, 2006, 10:56 AM

Shouldn't it be Red monday if you are talking about finances

Dakar · Jan 23, 2006, 10:57 AM

Originally Posted by zerostar

Shouldn't it be Red monday if you are talking about finances

Sounds communist.

I'll drink to that Comrade!

goofticket · Jan 23, 2006, 11:01 AM

Originally Posted by Big Mac

Iran is going to cause the world-wide economy a significant amount of pain. This very well could be a Black Monday - I had exactly the same thought.

I am very happy with my Intel iMac, it plays perfectly with my networked G3/266 and the 9600, it also likes my SCSI scanner on the G3.
Be patient, time will surely prove Apple's quality will set the bar too high for Microsnot to beat.
I'm sure Mr. Dell is not too appy about the new relationship Apple made with Intel.
Seems like those Windoze guys are going to have to change their business model abiet to keep up with Jobs & Co.
Maybe Jobs will allow OSX to be loaded on all those PC's. He'd get rich and have alot more to say about the direction PC's take.
As far as economy, you can rest assured that Bush is unlikely to do anything that affects oil's bottom line... and neither will Congress.

What scares me more than anything Iran can do, is if China decides to call in it's markers.

Cody Dawg · Jan 23, 2006, 12:17 PM

What IS the market doing? I'm not paying attention...

Oh, Ford cut 30,000 jobs to begin with.

Dow and Nasdaq are holding their own. Maybe it'll be alright. Let's see what happens at 3:00 PM, shall we?

wdlove · Jan 23, 2006, 01:06 PM

Originally Posted by Cody Dawg

What IS the market doing? I'm not paying attention...

Oh, Ford cut 30,000 jobs to begin with.

Dow and Nasdaq are holding their own. Maybe it'll be alright. Let's see what happens at 3:00 PM, shall we?

Yes, it is only on paper any way.

wolfen · Jan 23, 2006, 01:26 PM

The lovely wife and I assessed our finances in the economic climate, sold all our stock last year, and have decided to focus on eliminating debt as opposed to expecting a RoR from investment. We are at 20% equity on the house, now (we just bought it in August). Based on my investing criteria, etc., I do not expect the stock market to be a viable venue for my dollar until around 2010.

It's very liberating to be able to ignore the stock market. I highly recommend it.

turtle777 · Jan 23, 2006, 01:33 PM

Originally Posted by Cody Dawg

All I know is that I got rid of ALL of my debt two years ago and am I ever glad that I did.

From an investment perspective, getting rid of *all* debt doesn NOT necessarily make sense.

If you have a credit card balance with a low APR (like 2% or 4 %), you can make more money by investing instead of paying of that low APR balance.
It always depends on the individual situation.

Other example: car loan (installment loan). I have a car loan for 5.9%.
Installment loans don't reflect bad on your credit score, so why would I pay that of, while my 401k makes 15-20% per year ?

-t

shunt · Jan 23, 2006, 01:36 PM

I feel pretty darn great today, didn't even mind shoveling snow...

Saw all of this coming waaay back and adjusted accordingly, thankfully I have been able to keep my instincts intact--and the brainwashers at bay.

far200 · Jan 24, 2006, 02:29 AM

I'm looking around right now for some new stocks to invest in........ I'm searching the energy market...... any good companies to watch right now?

Artful Dodger · 03:52 AM

Originally Posted by far200

I'm looking around right now for some new stocks to invest in........ I'm searching the energy market...... any good companies to watch right now?

Leap Frog (LF)
http://finance.yahoo.com/q?s=lf

No debt
Great product line.
Cheap and undervalued stock price, IMHO

A lot more buying then selling. Provides a nice stable foundation, meaning there isn't much of a downside with this stock. plus, a lot of institutional buying occuring. check out this chart:

http://thomson.finance.lycos.com/lyc...LF&range=7&mgp =0&i=3&hdate=&x=12&y=7

I've also been investigating emerging technologies such as RFID (radio frequency identification) and have a current interest in Intermec (IN)
RFID is still in the early stages of development but the many analysts believe that it has huge growth potential. Intermec owns the patents that essentially run the Gen-2 RFID systems, therefore, any player will owe them a royalty.

http://finance.yahoo.com/q?s=in

Warnings:
Don't buy anything until you've done your due diligence
I own both these stocks, so you know where I stand
Never listen to Cramer

Kerrigan · Jan 24, 2006, 03:10 AM

It's a good thing Super Chicken didn't invest his 06-07 tuition savings into Apple like he was talking about doing in that thread. It would've been "Goodbye Bible College" and "Hello frontlines of Iran". Move out soldier!

far200 · Jan 24, 2006, 11:48 PM

thanks for the info Artful Dodger...

And I will do my homework for which ever stock I pick....

besson3c · Jan 25, 2006, 12:26 PM

I know that there isn't always a relationship between the success of an economy and government involvement, but I thought I would take this opportunity to ask some questions...

Has trickle-down economics ever worked? Are there people here that can cite examples of it succeeding, or is it just an interesting theory that governments like Reagan and Bush Jr. subscribed to?

A lot of people think that Republican governments are better at handling money, but I'm starting to think that the exact opposite is true. The tories in Canada didn't do nearly as good a job as the Liberals (over the last 12 years) at balancing the budget, and it seems that Clinton has been doing a better job than Bush now.

Are there holes in my reasoning?

Dakar · Jan 25, 2006, 12:34 PM

Split branches is the main hole... Clinton had Gingrich and his Contract with America to contend with... Bush has no real congressional opposition.

Artful Dodger · 01:22 PM

1) tax cuts take money out of government...by definition, this means they are handling less money then they would be if they were to increase taxes.

2) The past 6 years have been exceedingly challenging due to 9/11, tech sector crumble, corporate fraud, and hurricanes. I am surprised that the DJIA isn't hovering aroung 6000.

3) Don't turn this thread into a political debate. If you feel the desire, create your own in the PL.