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Dow is down over 300 Points
Posted on 11/7/12 at 11:11 am
Posted on 11/7/12 at 11:11 am
I guess the financial industry didn't like the election results.
8
Posted on 11/7/12 at 11:13 am to CajunTigerBabe
Questions about tax hikes at the end of the year and cuts in government spending leave a lot of uncertainty in the market
Posted on 11/7/12 at 11:19 am to CajunTigerBabe
I have a people a ton of selling is about to happen. Cap gains taxes are never going to be this low again. There will be at least a 3.8% increase to pay for part of the Obamacare program.
This'll put even more cash on the sideline and hurt the market more.
This'll put even more cash on the sideline and hurt the market more.
Posted on 11/7/12 at 11:49 am to Ray Finkle
Interest rates are going down. I guess everyone will be able to buy a house for free now!
Posted on 11/7/12 at 12:38 pm to LSUTOM07
quote:
Questions about tax hikes at the end of the year and cuts in government spending leave a lot of uncertainty in the market
In addition the divided government will make the fiscal cliff harder to deal with.
Posted on 11/7/12 at 12:45 pm to CajunTigerBabe
Meh. It's a 2% sell off for a major event finally happening. "buy on rumor, sell on news". That is all that is occuring. I'll take a friendly wager that it is back to Tuesday's close in less than 30 days.
Posted on 11/7/12 at 12:49 pm to OFWHAP
Europe is the big problem here guys. its getting worse. U.S. President and congress can't fix that.
Posted on 11/7/12 at 12:53 pm to Larry Hollins
quote:
U.S is the big problem here guys. its getting worse. U.S. President and congress can't fix that.
FIFY
Posted on 11/7/12 at 1:06 pm to Larry Hollins
This is true, but the President and Congress need to come together and fix these automatic spending increases and expiring tax cuts that will put a nice little dent in our GDP growth (which will then put a dent in tax revenue).
Posted on 11/7/12 at 2:21 pm to C
C, I unloaded 300 shares of Apple today. I cant take the pain any longer. I still have 200. It has been getting smoked lately, and thats in my retirement account. Hope you are right about the market coming back by next week. 
Posted on 11/7/12 at 2:50 pm to Jed Zeppelin
The only two stocks I own are Yahoo and GG. Picked up yahoo back in Sept, been adding GG the pass couple years buying on it's dip and I have a shite load of it. But I'm real good on both. 
I will be dumping everything before the end of the year.
I will be dumping everything before the end of the year.
Posted on 11/7/12 at 2:59 pm to fishfighter
I picked up 145 shares of an aggressive Nasdaq ETF after it fell off about 8% early in the trading day
I'm going to sit on it for a few weeks and make a cheap buck hopefully
I'm going to sit on it for a few weeks and make a cheap buck hopefully
Posted on 11/7/12 at 3:02 pm to Jed Zeppelin
quote:
Hope you are right about the market coming back by next week
Man never bet on me! I'm making no long term projections, just that I doubt there has been a major change in market conditions. The same president. The same congress. And all the polls were pointing toward an Obama win (despite what many including myself thought may have been biased)
Posted on 11/7/12 at 3:28 pm to C
quote:
Man never bet on me!
Na, just respect your opinion on some things on the board.Posted on 11/7/12 at 3:37 pm to Jed Zeppelin
quote:
just respect your opinion on some things on the board.
Posted on 11/7/12 at 4:19 pm to CajunTigerBabe
Anybody surprised by this wasn't paying attention. The markets MIGHT come back up once BHO resumes the overtime operations of the government printing presses, but once he shows his true colors with an all-out war on the energy and petrochemical sector and anyone else producing a product, we are in for a really bad time of it.
(Disclaimer-by "we" I mean people that actually work for a living and not on the government dole)
(Disclaimer-by "we" I mean people that actually work for a living and not on the government dole)
Posted on 11/7/12 at 4:29 pm to Icansee4miles
quote:
The markets MIGHT come back up once BHO resumes the overtime operations of the government printing presses, but once he shows his true colors with an all-out war on the energy and petrochemical sector and anyone else producing a product, we are in for a really bad time of it.
The Federal Reserve prints currency. The Treasury issues debt.
The Fed =/= Government.
Posted on 11/7/12 at 8:05 pm to CajunTigerBabe
quote:
Dow is down over 300 Points
Obama's America.
Posted on 11/7/12 at 8:52 pm to CajunTigerBabe
I don't think it was the election as much as EUR/USD. Market started tanking about the time Draghi Spoke this morning and the Euro fell.
Could be some cap gains selling although we did ours months ago.
Could be some cap gains selling although we did ours months ago.
Posted on 11/7/12 at 10:12 pm to CajunTigerBabe
What's the best way to prepare for the "fiscal cliff"? I just don't see compromise happening.
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