This has to be the biggest one day loss I ever had

[vintner Super Moderator Find all posts View Profile Close vintner]

I am up today, but didn't recover much from yesterday's bleeding.

Tomorrow could be interesting, see what happens with AIG and Lehman. Could get news yet this evening on one or both and that may do big things with the market.

[bigfrank Administrator Find all posts View Profile Close bigfrank]

I am up today, but didn't recover much from yesterday's bleeding.

.

I got back about 65% of yesterdays loses mainly because of the trade I did buying FCH at $7.37 and watching it close at $7.80

[pranas Senior Member Find all posts View Profile Close pranas]

I may have to put off early retirement plans. Hope it gets better after the election.

[Pit Senior Member Find all posts View Profile Close Pit]

I can't believe it:

9/16/2008 1:14:38 PM - Fed leaves rates unchanged

Good news, as far as I'm concerned. Bring energy prices down and keep inflation in check.

AIG will be saved somehow -- too big to fail. I was so tempted to buy AIG today, but I stopped myself. I would be up 42% right now if I had clicked that button. Ah well, tomorrow is another day.

[vintner Super Moderator Find all posts View Profile Close vintner]

Good news, as far as I'm concerned. Bring energy prices down and keep inflation in check.

AIG will be saved somehow -- too big to fail. I was so tempted to buy AIG today, but I stopped myself. I would be up 42% right now if I had clicked that button. Ah well, tomorrow is another day.

Um...I think I will say nothing on this. 'Cause sure as heck, I would say something that would get me banned.

[Pit Senior Member Find all posts View Profile Close Pit]

Um...I think I will say nothing on this. 'Cause sure as heck, I would say something that would get me banned.

Sorry if I said something wrong. I simply believe we'll get through this bear market sooner, rather than later, if the Fed holds steady on interest rates --> reduce energy costs and inflation risk. At any rate, I wasn't trying to piss anyone off.

[vintner Super Moderator Find all posts View Profile Close vintner]

I just can't see basis for your comments, so I will shut up.

[bigfrank Administrator Find all posts View Profile Close bigfrank]

Don there are 2 sides to this, If rates stay the sae your not weaking the dollar so we will gain ground on the Euro. Now if we lower rates which most wanted it will bump up the real estate market while deflate the dollar. I do not agree with keeping it the same but for some dumb reason my reits should have taken a hit but they went up ward big time rather than sell off. I can't figure it out how it is good for REITS but I guess it is.

[Elan Senior Member Find all posts View Profile Close Elan]

I think it's safe to say that the cutting the funds rate recently isn't having it's typical effect on stimulating the economy. From what I've read, the reason is that the lending institutions have burned themselves so badly with high risk loans that they are being ultra-conservative in their lending practices. Basically, cheap money isn't any good if nobody can get access to it.

[vintner Super Moderator Find all posts View Profile Close vintner]

Lower rates encourages spending.

Homes get repaired more cheaply, so Home Depot and Lowes has business. Business means the people have jobs. People with job spend money on new appliances, so Whirlpool sells product, so people have jobs. This trickles down…and people have jobs.

The unemployment rate is the worse in 6 years.
Home sales are the poorest in decades.
Huge companies are getting bailouts or going into bankruptcy.
Feds have bailed out AIG to the tune of 85 Billion dollars. Too big to fail is an odd comment when AIG was hours from chapter 11. That would have cause major economic problems. Do some research on AIG, what it is tied into and see what impact this company in chapter 11 would have. It would be world wide and more harsh than it has been.
Has anyone see the news reports of the people at Lehman’s walking out with their boxes after they lost their jobs?

Inflation is not a problem right now. The price of oil is dropping reducing the inflation risk. The problem is money liquidity. The Feds know that or they would not be pumping Billions of dollars into Fannie, Freddy, AIG and pumping more money to help with the Lehman issue after working weekends to ease the impact. We all saw a 500 point drop after all that work.

Oil was at $147 a few months ago. Now oil is back to just over $90. The interest rate is the same at the high oil cost as it is today. Rate hasn’t made a difference on energy price.

The 30 year rate is now down to 5.7%. That may start housing to start moving again, taking more inventory off the market. That will start the value of houses to increase again. What would happen if the rate dropped even further, wouldn't people in foreclosure possibly be able to do a refinance and keep their home, reducing the huge foreclosure rage and keep more houses from being on the inventory list? I know that 30 year rate is not tied directly to the over night rate, but certainly the credit card rates are tied to that rate. But changes to one often impact the other.

I know that after owning my duplex for over 16 years, I cannot sell it. There is no market. Price value has dropped by 1/3. Tenants are hard to find because they don’t have jobs, or are at low wages. Dropping the rates would have eased my payments on my line of credit.

Money has to move, or nothing else does. When we get inflation, then raise the rates, but when China drops the rates, Japan and India dump money to ease the market, the problem is not an inflation problem.

I am on market news feeds, on and off for nearly 14 hours a day, from several sources, some are paid subscription sources, some are basic services. I lead a stock user group. I have a pretty good idea of what is happening in the market, and with my stocks. I know how the market and economic conditions has impacted me.

I haven’t had a raise in 2 years. I have no kids, but every year pay more for the school system by my property taxes, taxes on a house that has decreased in value. That is not a sign of inflation in a poor economy.

Yes there is more than one opinion on this. I know what affects me, and dropping the rates would have helped. It would have helped greatly. It didn’t happen.

Just 11 months ago, the market was over 4000 points higher than it is today. Last time the Dow was this low was July 2006. While the market will likely be up greatly in early market trading, what will happen in the next few weeks is unknown. What will Thursday’s unemployment rate be? Likely to be up with all the recent high profile layoffs. Will there be more fallout of banks?

I do not know of anyone that feels raising the rates will speed the housing recovery, or reduce the fall out of the investment banking firms, or start a bull run on the market.

Hey, I did pretty well. I didn’t blow up. Just facts.

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

The Federal rediscount rate actually means nothing - unless banks need that very short term borrowing. It's all hype and just an indication of which way the Fed wants things to move- yet the markets still tend to react strongly to rate changes.

[Elan Senior Member Find all posts View Profile Close Elan]

It seems to me the biggest lift to the economy right now would be to further remove the speculation component from the price of oil. Get gas back to ~$3/gal, ease inflation worries and give folks some sense that it's safe to spend money on discretionary goods again. Everyone I know is holding on to every penny they can because of the increased cost of non-discretionary items. I would think a recovery in the housing market is still quite some time away. Hope I'm wrong.

[Beaglemom3 Senior Member Find all posts View Profile Close Beaglemom3]

My money that my broker is managing is down ,5,000 shaggy

Hence the word " broker " !

[bigfrank Administrator Find all posts View Profile Close bigfrank]

Someone please take me out of my misery, I am not only am losing my shirt , My pants are gone to.

[ArtsieAng Super Moderator Find all posts View Profile Close ArtsieAng]

Someone please take me out of my misery, I am not only am losing my shirt , My pants are gone to.

Shoes.....Do you still have your shoes? I couldn't live without my shoes!