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philosopherBoi
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13 Oct 2008, 3:07 pm

Hey all the stock market just bounced back big time well the US one did at least with the dow gaining over a 900 points today and the NASDAQ gaining almost 200 points.

http://finance.google.ca/finance?cid=983582

http://finance.google.ca/finance?cid=13756934


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twoshots
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13 Oct 2008, 3:12 pm

Damn. 900? I hadn't checked in a few hours and was pretty impressed to see the 500 point rally.

Although I have to admit, what the past few weeks have done to the dollar and to oil have actually made my life easier...

We'll see whether or not it sticks...


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pheonixiis
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13 Oct 2008, 3:24 pm

Cross your fingers...


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Ragtime
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13 Oct 2008, 3:52 pm

I think the effect is artificial, and thus temporary, due to the government's emergency-style infusing the market with money.
Even if the 9,300-odd points were taken at face value, such still leaves the market somewhat short of health.
You don't fix a hole in a bucket by adding more water, but doing so can keep the water surface high temporarily.

The Dow has risen back not even half the distance it had fallen, so we're not out of the woods yet.
The only real test of the health of the market is to see how it floats when the government leaves it alone.


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richie
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13 Oct 2008, 5:08 pm

There is a great deal of corporate greed and mismanagement that needs to be weeded out.

In the meantime have a look at how our grand parents made it through the Great Depression:
http://www.cnn.com/2008/LIVING/10/13/de ... index.html


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philosopherBoi
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13 Oct 2008, 7:38 pm

richie wrote:
There is a great deal of corporate greed and mismanagement that needs to be weeded out.

In the meantime have a look at how our grand parents made it through the Great Depression:
http://www.cnn.com/2008/LIVING/10/13/de ... index.html


Washed out no more like surgically cut out then thrown in a missile that is set to go to the surface of the sun and go BOOM!! !!

What we really need is oversight to make sure they don't get us in this mess again the free market is a good theory like Communism but like communism it does not work in the real world.


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Inventor
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15 Oct 2008, 5:14 pm

The market term is "The dead cat bounce" Even a dead cat bounces once.

It could also be a trendy new dance!



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15 Oct 2008, 8:00 pm

I don't think that there's any possibility of having a repeat of the Great Depression.


Locally grown food alone can be had in enough supply for me to fill my car with it, without going broke, and I have practically no savings.


I've heard stories about how my grandfather had to use cereal boxes as shoes.


Will I ever get to that point? It seems impossible. Right now is the weeding out the public's greed and excess, nothing more.



Triangular_Trees
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15 Oct 2008, 8:14 pm

gsilver wrote:
I don't think that there's any possibility of having a repeat of the Great Depression.


Locally grown food alone can be had in enough supply for me to fill my car with it, without going broke, and I have practically no savings.


I've heard stories about how my grandfather had to use cereal boxes as shoes.


Will I ever get to that point? It seems impossible. Right now is the weeding out the public's greed and excess, nothing more.


I doubt most people who are in a position to invest heavily in the stock market today would ever be stupid enough to put themselves in such a situation that would allow the great depression to happen again - its too recent for there not to have been a lesson learned and there are people alive today who remember what it was like. The people at risk for such losses are mainly younger people, and in general they wouldn't have enough resources to be living off heavy market investments. Older people are more aware of the importance of spreading their money through various investments - foreign markets, cd's, bonds, etc. Can't say it will be the same in a 100 years though


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psych
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15 Oct 2008, 9:38 pm

Q: if you are bailing out a sinking boat, is it prudent to cut a new hole in the hull to make another bucket?



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16 Oct 2008, 2:35 pm

A: NO!

The Dow is sure having one hell of a mood swing.


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