Stock Market

Fear_Of_Dreams · 10-31-2008, 06:25 PM

Well, after watchin CNN for a while it looks like the market is up and down and mostly down. And to my knowledge, isnt that best time to get in on it?

I know literally nothing about the stock market and how it works and how it effects our economy, but i do hear about people making some serious money on the market if they know how to play it.

I was just wondering if theres anyone here with extensive knowledge on how the stock market works and could advise me on if i should get in or what?

Im only 19 but from what iv been seeing wouldnt this be the perfect time?

Sym Misial · 10-31-2008, 06:34 PM

From what ive been told, when the Stock market goes to Roughly 8000 people start buying, knowing that its going to go back up, knowing they will make money.

newguy5 · 10-31-2008, 08:07 PM

Quote:

Originally Posted by Sym Misial

From what ive been told, when the Stock market goes to Roughly 8000 people start buying, knowing that its going to go back up, knowing they will make money.

it has little to do with that. if the economy is bad it's going to get worse, especially if no good is in sight. doesn't really matter where or what it is.

tremmor · 10-31-2008, 08:25 PM

ive bought at E trade several times but im conservative. Don't get stars in your eyes and jump to fast. i just bought about $600 of ford stock. its always risky business. on the other hand i like to play.
you can set up and account with automatic selling features. like when it double then sell. they have (i forgot the term). minimum or if it drops below this then sell. be careful though. its risky business now. if your looking for a quick buck and get stars in your eyes could be a mistake.
do it slow and not to confident.

http://finance.yahoo.com/q?s=^DJI

newguy5 · 10-31-2008, 08:23 PM

this is why we have a financial crisis, because of companies like this:

Zombie Bank approved a $430,000 loan for my wife with an income of $110 a week. She only worked for a retail store for eight months and had no previous work history.

The lender, Blood-sucking Mortgage in Fairfax, Va., did not check her employment and made up fake documents stating she worked for a grocery store as a manager and made up a bogus income to get the loan for her. She worked there for only six or seven months in the past five years. She never worked as a manager and she barely speaks English.

Blood-sucking Mortgage did not tell her about the 2 percent penalty if the loan transferred to another lender within three years. She only realized it when she was at the settlement table in Florida with a Budget truck loaded outside the settlement office.

My wife and I did not even know what types of loan we are getting. At that point, we had no choice but to finish the deal and unload the truck. The settlement agent did not know anything about the other terms and conditions. She suggested we should get more detail from Blood-sucking Mortgage.

When we went for a walk-through, the agent and owner was sitting in a black SUV 200 yards away outside the house. She handed us the keys on the curbside like she was giving us something free. We had no idea how to operate the pool, the garage doors, community entrance and much more.

When I received the second mortgage statement from Zombie Bank, I noticed the original loan amount went up. I immediately called Zombie Bank. They told me it is an index loan and it depends on the market, blah, blah, blah and kept explaining how index loans are calculated in Wall Street each month and other factors.

We were making a $2,300 payment, but $500 was adding each month to the original loan amount because I was not making the full interest payment. The $2,300 was just a minimum payment. In March 2006, I placed the house for sale and it was in the market until February 2007. In February the original loan amount went up by $6,000. We became so divested financially that I have to stay in my job in Virginia and visit my kids only once a month.

Finally, in March 2007 we decided to pay the 2 percent penalty and refinance the loan. The banks were not able to refinance the loan for my wife because she had no job and I was working in Virginia. At last, I found a lender who suggested that the entire loan should be transferred to my name in order to refinance and we agreed.

In July 2007, my family moved back to the same townhouse and we rented the Florida house. I am working two full-time jobs and my wife went back working as a deli clerk in order to cover the two mortgages. I had $33,000 in savings and $7,000 from 401(K). They have all vanished to cover the mortgages.

just a noob · 10-31-2008, 09:25 PM

if the american dollar is down, buy gold, and hope it gets worse, thats about all i can say

computermaineack · 11-01-2008, 09:08 AM

Quote:

Originally Posted by just a noob

if the american dollar is down, buy gold, and hope it gets worse, thats about all i can say

Good thing that couldn't apply any less to the current market situation.

The dollar has skyrocketed in value since July or so. Since global commodities are traded in US Dollars when they go up the value of the dollar falls. With commodity prices falling the dollar has strengthened considerably. Right now 1GBP= 1.6071 USD. Around July, before the dollar started going back up, it was at just about 1GBP=2USD. Similarly, 1 Euro=1.2732USD...before it fell it was at about 1 Euro=1.6USD. In june gold was trading at record highs...right around $1000 per troy ounce. It closed Friday at $718 per troy ounce.

The dollar has been falling against the yen recently, though. In times of market volatility the yen is seen as a very stable currency and thusly investors put their money into it.

Now is generally a good time to invest in the stock market if you're looking for long term gains. If you invest now you're likely to see a hit in your portfolio within the next few months. But alot of companies right now are tremendously undervalued and when we recover from this financial crisis (assuming we do) they should go back up to a more apropriate value. However if you're a new investor and don't know anything about investing I'd caution against it at this moment given the high market volatility.

Egon · 10-31-2008, 10:05 PM

...Everyone needs toothpaste and soap. Go buy stock in that.

ScOuT · 10-31-2008, 10:15 PM

One of my Mutual Funds was worth $12.30 a share and I had just under 1300 shares...It dropped to $7.80 a share in two days! Ouch...this market crash is kicking my a**! I have not even done all the math yet for the other accounts...I am scared to even break out the calculator

long term market trends tell a person it will go up...I don't retire for another 12 years anyway

Sym Misial · 11-01-2008, 12:05 AM

Dow seemed to close up today, or it was the last time I saw it.

10-31-2008, 06:25 PM	#1 (permalink)
Fear_Of_Dreams banned Join Date: Sep 2008 Location: Greed, Hate and Envy. I mean, USA. Age: 20 Posts: 117	Stock Market Well, after watchin CNN for a while it looks like the market is up and down and mostly down. And to my knowledge, isnt that best time to get in on it? I know literally nothing about the stock market and how it works and how it effects our economy, but i do hear about people making some serious money on the market if they know how to play it. I was just wondering if theres anyone here with extensive knowledge on how the stock market works and could advise me on if i should get in or what? Im only 19 but from what iv been seeing wouldnt this be the perfect time?

10-31-2008, 08:23 PM	#5 (permalink)
newguy5 Diamond Member Join Date: Jan 2007 Location: Dallas, Tx Age: 26 Posts: 1,931	this is why we have a financial crisis, because of companies like this: Zombie Bank approved a $430,000 loan for my wife with an income of $110 a week. She only worked for a retail store for eight months and had no previous work history. The lender, Blood-sucking Mortgage in Fairfax, Va., did not check her employment and made up fake documents stating she worked for a grocery store as a manager and made up a bogus income to get the loan for her. She worked there for only six or seven months in the past five years. She never worked as a manager and she barely speaks English. Blood-sucking Mortgage did not tell her about the 2 percent penalty if the loan transferred to another lender within three years. She only realized it when she was at the settlement table in Florida with a Budget truck loaded outside the settlement office. My wife and I did not even know what types of loan we are getting. At that point, we had no choice but to finish the deal and unload the truck. The settlement agent did not know anything about the other terms and conditions. She suggested we should get more detail from Blood-sucking Mortgage. When we went for a walk-through, the agent and owner was sitting in a black SUV 200 yards away outside the house. She handed us the keys on the curbside like she was giving us something free. We had no idea how to operate the pool, the garage doors, community entrance and much more. When I received the second mortgage statement from Zombie Bank, I noticed the original loan amount went up. I immediately called Zombie Bank. They told me it is an index loan and it depends on the market, blah, blah, blah and kept explaining how index loans are calculated in Wall Street each month and other factors. We were making a $2,300 payment, but $500 was adding each month to the original loan amount because I was not making the full interest payment. The $2,300 was just a minimum payment. In March 2006, I placed the house for sale and it was in the market until February 2007. In February the original loan amount went up by $6,000. We became so divested financially that I have to stay in my job in Virginia and visit my kids only once a month. Finally, in March 2007 we decided to pay the 2 percent penalty and refinance the loan. The banks were not able to refinance the loan for my wife because she had no job and I was working in Virginia. At last, I found a lender who suggested that the entire loan should be transferred to my name in order to refinance and we agreed. In July 2007, my family moved back to the same townhouse and we rented the Florida house. I am working two full-time jobs and my wife went back working as a deli clerk in order to cover the two mortgages. I had $33,000 in savings and $7,000 from 401(K). They have all vanished to cover the mortgages. __________________ C2D E6750 Arctic Freezer 7 Pro 2GB G.Skill RAM PC2-6400 Gigabyte P35-DS3L Sapphire Radeon 3850 250GB Seagate Barracuda 7200.10 Thermaltake TR2 500W 22" Westinghouse (widescreen)

10-31-2008, 09:25 PM	#6 (permalink)
just a noob Diamond Member Join Date: Feb 2008 Location: Vault 69 Age: 17 Posts: 3,857	if the american dollar is down, buy gold, and hope it gets worse, thats about all i can say __________________ When the shit hits the fan cpu: core i7 920@??? gpu: gtx 285 sli ram: 3 gigs of ddr3 hdd: seagate 500gb mobo: evga classified psu: enermax 1050 watt case: box from classified cooling: air for now

10-31-2008, 10:15 PM	#9 (permalink)
ScOuT VIP Member Join Date: May 2008 Location: Germany Age: 29 Posts: 2,186	One of my Mutual Funds was worth $12.30 a share and I had just under 1300 shares...It dropped to $7.80 a share in two days! Ouch...this market crash is kicking my a! I have not even done all the math yet for the other accounts...I am scared to even break out the calculator long term market trends tell a person it will go up...I don't retire for another 12 years anyway __________________ My Rig Coolermaster 690 / Nvidia Edition Seen Here Antec Neo Power 650w eVGA 780i 2 x 2 GB Dominators Intel Q9300 eVGA GTX260 Vista Home Premium 64bit Team Stats FOLDING FOR THE GOOD OF MANKIND :F@H Team 44358**

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10-31-2008, 06:34 PM	#2 (permalink)
Sym Misial New Member Join Date: Sep 2008 Posts: 11	From what ive been told, when the Stock market goes to Roughly 8000 people start buying, knowing that its going to go back up, knowing they will make money.

10-31-2008, 08:25 PM	#4 (permalink)
tremmor Diamond Member Join Date: Oct 2007 Posts: 1,819	ive bought at E trade several times but im conservative. Don't get stars in your eyes and jump to fast. i just bought about $600 of ford stock. its always risky business. on the other hand i like to play. you can set up and account with automatic selling features. like when it double then sell. they have (i forgot the term). minimum or if it drops below this then sell. be careful though. its risky business now. if your looking for a quick buck and get stars in your eyes could be a mistake. do it slow and not to confident. http://finance.yahoo.com/q?s=^DJI

10-31-2008, 10:05 PM	#8 (permalink)
Egon Platinum Member Join Date: Aug 2005 Age: 22 Posts: 822	...Everyone needs toothpaste and soap. Go buy stock in that.

11-01-2008, 12:05 AM	#10 (permalink)
Sym Misial New Member Join Date: Sep 2008 Posts: 11	Dow seemed to close up today, or it was the last time I saw it.

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