- 78
- 10
- Joined
- Apr 22, 2005
Originally Posted by Dey Know Yayo
bruuuuutal plunge, 7500 here we come...
brutal indeed. took my positions in ferts and energy from green and put it in red in an instant. gold is the only thing up right now.
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Originally Posted by Dey Know Yayo
bruuuuutal plunge, 7500 here we come...
Stocks tumbled Tuesday as a sharp drop in New York manufacturing activity exacerbated worries about the deepening recession.
The Dow Jones Industrial Average was down nearly 300 points, or more than 3 percent. The S&P 500 shed more than 4 percent and the tech-heavy Nasdaq lost more than 3.5 percent.
This comes after last week's 5.3-percent drop in the Dow as few details on the execution of the stimulus plan and worries about the potential for wiping out bank stocks weighed on the market. Financials were the week's worst performer, down 10 percent, while health care was the best, down just 2.4 percent.
NEM, I heard was a good mining company.Originally Posted by keiththekid1
DKY, at the moment the only gold position i have is GLD...do you think i should diversify my gold position with some mining stocks? If so which ones? I have heard a number of people say that gold mining stocks give the best exposure, next to actual physical gold.
thats what im guessing as well.Originally Posted by Qpitfighter
and it immediately drops to $6.12
HA!
EDIT: I do expect it to close higher than my purchase price and open even higher on Weds.
Originally Posted by nicefro
PPT @ 3:30,
Still holding my FAS position from $10.88, was going to average down but decided against it. If we see 9's again I'll get out.
Originally Posted by MnMballa2323
can somebody please break down FAS and FAZ for me...how come when the market fails, FAZ goes up? and opposite for FAS.
Originally Posted by keiththekid1
what happens to fas/faz when/if the banks nationalize.....they would go to zero right?
Originally Posted by Dey Know Yayo
yes. get the hell out of all dollar-denominated assets. CDs, savings accounts, IRAs, mutual funds, 401ks, bonds/treasuries, etc etc. in fact, get out of all currency-denominated fiat assets.
on the short term i expect a pullback in gold, prolly to about 910/oz, who knows, but then another big takeoff move starting in 3-4 weeks. we'll see what the charts tell us. but on the long term, this is just the beginning, i expect gold to be at 2000/oz by 2010 and 10,000/oz by 2012.