Opening Bell

fogtender · Aug 5, 2011

After yesterday's sell off, I figured the buyers will move in looking for deals and drive the Dow up a bit, then it will start down and close even lower today....

The reality being the Congress has just spent too much money, the Feds are printing too much cash and raising the debt ceiling was just stupid!

Anyone figure different?

jpr62902 · Aug 5, 2011

I dunno, Foggie, but I'm gonna buy some blue chips while they're discounted.

fogtender · Aug 5, 2011

jpr62902 said:
I dunno, Foggie, but I'm gonna buy some blue chips while they're discounted.

Well I certainly wish you luck on you endeavors! A while back I took a pretty good hosing on stocks. I pulled the money out of the market and put it in metals and real-estate. Will find out it was worth while in time!

Sucks being asset rich and cash poor, but I'll stay that way for a bit!

fogtender · Aug 5, 2011

Well so far into the day, the Dow shot up about 150 and about an hour and a half into the trading day, it is now down -30...

It's nice calling it right, but in this case I'm hoping I'm wrong because as the Dow drops, people that have worked hard are having their savings/retirements wiped out...

If the jobless news can't keep the Dow positive, then we are on a short slide down a long hill!

jimbo · Aug 5, 2011

jpr62902 said:
I dunno, Foggie, but I'm gonna buy some blue chips while they're discounted.

Problem is, what is a blue chip? AIG, Chrysler, GM, Bank America?

fogtender · Aug 5, 2011

Damn, now it's Down 117 points and it has been open not quite two hours...

Sorry guys!

Been up all night on shift, so headed to bed, hope the stocks make me look bad and closes up! But I kinda doubt it....

jpr62902 · Aug 5, 2011

jimbo said:
Problem is, what is a blue chip? AIG, Chrysler, GM, Bank America?

I got my eye on P&G right now with a focus on companies that sell stuff people have to buy -- cleaning supplies, energy, techs\IT, etc.

fogtender · Aug 5, 2011

Well gladly I was wrong, the market recovered only slightly, but just s few min's ago on the radio, Starndard and Poor's just lowered the US credit rating, so I was only off by a few hours of us going off the cliff...

Monday is going to be a dark day!

waybomb · Aug 7, 2011

All the outfits that hold trillions in AAA on guarantee need to sell it now.

Heeah come dee judge.......

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