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Aug 9, 2007 6:37 pm

Did any of you boys or girls hear John Bogel discussing today's down day?


In a nutshell he said that he normally doesn't listen to the chatter because, like Shakespeare said, it's a sound and fury that signifies nothing.


He then added that he's not so sure this time.


Do you understand that in order for the market to not decline there have to be buyers.


Can anybody make a case for buying stocks in light of the credit worries--and the rippling effect of having tens of thousands of houses being defaulted on?


I know I'm an old fart, but something echoes in my head--hearing a guy who became a very big deal at Bear Stearns standing on his desk screaming, "NO BIDS--there are no phucking bids!"


There doesn't have to be a bona fide reason to sell--just no bona fide reason to buy.

Aug 9, 2007 8:08 pm

REally? You have to have sellers AND buyers? This market stuff is complicated.


Also, I don't appreciate you naming yourself after me.

Aug 9, 2007 8:38 pm

The market is going to be fine. That is my expert opinion.

Aug 9, 2007 8:52 pm
Rabbit:

The market is going to be fine. That is my expert opinion.


How does it go up if everybody decides to wait and see before putting in a bid?


Could the Dow lose 1,000 points in one day?

Aug 9, 2007 8:59 pm

No bids today huh? None at all? Zero Volume? I must've missed that on MSNBC today.

Aug 9, 2007 9:58 pm
Rabbit:

No bids today huh? None at all? Zero Volume? I must've missed that on MSNBC today.


I think I heard that today's volume was the all time high volume.


What does a 400 point sell off on record setting volume suggest for tomorrow's trading?

Aug 9, 2007 10:20 pm
DAtoo:
Rabbit:

No bids today huh? None at all? Zero Volume? I must've missed that on MSNBC today.


I think I heard that today's volume was the all time high volume.


What does a 400 point sell off on record setting volume suggest for tomorrow's trading?



Nothing. But the heavy selling at the end suggests that the selling is not done and there's more to come.

Aug 9, 2007 10:24 pm

Could be cutting below FEB lows very soon...within days/weeks...If we do this market is officially toast IMO. 12,000s or lower on Dow...1390 on S&P...  Pretty close now...


Devils Advocate:
DAtoo:

Rabbit:

No bids today huh? None at all? Zero Volume? I must've missed that on MSNBC today.


I think I heard that today's volume was the all time high volume.


What does a 400 point sell off on record setting volume suggest for tomorrow's trading?



Nothing. But the heavy selling at the end suggests that the selling is not done and there's more to come.

Aug 9, 2007 11:12 pm

It's so lovely to own puts right now. 

Aug 10, 2007 8:05 am
joedabrkr:

It's so lovely to own puts right now. 


I knew a guy like you Joeboy.  On major move days we'd run into each other at the local watering hole.


He'd wander over and tell us how he had timed that day's activity perfectly.  If we were up big he'll tell us that he used all his availalbe buying power to buy calls--if the market was down hard he just happened to be long put and paid for them by shorting calls.


It was always the same.


What was also always the same is before he left he'd whisper, "I'm a little short. Could I borrow a thousand till pay day?"

Aug 10, 2007 10:56 am
DAtoo:
joedabrkr:

It's so lovely to own puts right now. 


I knew a guy like you Joeboy.  On major move days we'd run into each other at the local watering hole.


He'd wander over and tell us how he had timed that day's activity perfectly.  If we were up big he'll tell us that he used all his availalbe buying power to buy calls--if the market was down hard he just happened to be long put and paid for them by shorting calls.


It was always the same.


What was also always the same is before he left he'd whisper, "I'm a little short. Could I borrow a thousand till pay day?"



Putsy-I don't care what you think.  I know what my account balance is right now, and I won't need to borrow any lunch money from you.

My biggest challenge right now is deciding whether or not to take more profits because the Fed is getting aggressive with their interventions.

Aug 10, 2007 11:29 am

What I find amusing is Putsy's interactions on this board... His argumentative and abrasive nature is probably what kept him muddled in mid-management his entire career... His need to constantly convey his superiority- yet he takes potshots at me when I state my desire to own a condo in the near future. I love his need to appear superior with his 'my kitchen is larger than your condo" comments... Truly is a sight to behold when a 60 year old feels the need to "one up" someone half his age...


Makes for a humorous distraction to the markets these days...


Aug 10, 2007 11:38 am

Putsy,


Yesterday you were barking at everyone, saying how we don't add value, and how you make eleventy kazilion doing your silly options trading.  Now you're asking us for advice? Blippity blap blap.

Aug 10, 2007 11:45 am
blarmston:

What I find amusing is Putsy's interactions on this board... His argumentative and abrasive nature is probably what kept him muddled in mid-management his entire career... His need to constantly convey his superiority- yet he takes potshots at me when I state my desire to own a condo in the near future. I love his need to appear superior with his 'my kitchen is larger than your condo" comments... Truly is a sight to behold when a 60 year old feels the need to "one up" someone half his age...


Makes for a humorous distraction to the markets these days...




Once again blarm you've proven how much you 'get it'...

Aug 10, 2007 12:04 pm
blarmston:

What I find amusing is Putsy's interactions on this board... His argumentative and abrasive nature is probably what kept him muddled in mid-management his entire career... His need to constantly convey his superiority- yet he takes potshots at me when I state my desire to own a condo in the near future. I love his need to appear superior with his 'my kitchen is larger than your condo" comments... Truly is a sight to behold when a 60 year old feels the need to "one up" someone half his age...




I am not trying to "one up" you.  What I am doing is shining the bright light of reality on what a poser you are.


There is a difference.

Aug 10, 2007 12:54 pm

Do you really think so?


I am in my late-20's. I am several years into a successful career as an advisor with a great firm. Adding about a million in new assets a month...


I have zero debt other than $12K in student loans at 3.79%. I have a brokerage account that will be around six figures within 2-3 months... A healthy money market account for savings... Contributing 10% to a rapidly increasing 401K. Looking to purchase real estate within the next 9 months or so...


Poser? C'mon now... You shouldn't hate so much...

Aug 10, 2007 1:31 pm
DAtoo:


I am not trying to "one up" you.  What I am doing is shining the bright light of reality on what a poser you are.


There is a difference.



You've reached a new high on the irony scale by making that comment....

Aug 10, 2007 1:41 pm

As an aside, they're interviewing this guy Mike Malone on CNBC who is apparently head of trading at Cowen and Co....I'm not sure this kid is even old enough to shave by the looks of him.

No wonder you can make money trading in this market when fellas like him are on the other side.

Aug 10, 2007 2:01 pm
blarmston:

Do you really think so?


I am in my late-20's. I am several years into a successful career as an advisor with a great firm. Adding about a million in new assets a month...


I have zero debt other than $12K in student loans at 3.79%. I have a brokerage account that will be around six figures within 2-3 months... A healthy money market account for savings... Contributing 10% to a rapidly increasing 401K. Looking to purchase real estate within the next 9 months or so...


Poser? C'mon now... You shouldn't hate so much...



I have no hate--none whatsoever.


I still think you're a poser however.

Aug 10, 2007 2:25 pm

C'mon Datoo. You are jealous my life and my lifestyle.. You are jealous that I work my ass off during the week and am successful. You are jealous that I actually am relevant in the world today. You are jealous that I am financially secure and can do whatever I wish (maybe Vegas this weekend, maybe a trip to Santa Barbara with a lady friend for a couple days, maybe Scottsdale to party at ASU...)... You are jealous that I dont live retirement staring at a computer... You hate that you are no longer important. If oyu ever were at all...


Meanwhile, you live with your in-laws in some podunk town in GA... FUN...