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I'll throw my guess in at down 6-7% at COB today.The futures market has us opening down 7%...
No-one knows how far the market will plummet, although many many think that they do. But we are still in a bear market which has shown no signs of hitting the bottom.
I've been a little surprised to see some forumers talking about it being a good time to buy shares. My opinion is that this bull market is pretty much following basic Dow theory of three downward phases (nothing to do with Elliot wave). We appear to be entering the third phase which is known by some as the "distressed selling" phase. It should be an interesting next few weeks.
EC
BTW, what happened with the washington mutual bank insolvency has just destroyed TRUST in the US share market and legal system. The entire capital structure of Washington Mutual was destroyed, by govt fiat, leaving no value for shareholders. How? All due process via the courts and bankruptcy process was denied. The assets were sold off to JP Morgon for a song. The shareholders will see none of the value of the company assets.
It is absolute theft.
and some wonder why I don't trust governments and their agencies.
Why would you be looking for bargains when the market is still showing signs of falling? You know...."never catch a falling knife"
I have been saying for 6 months to stay out of the stock market. And years to stay out of the property market.
Similar to the property market actually, with a much shorter time frame.
And Letiha, you fluked the profit. Be careful, you probably wont be able to repeat it. I lost quite a bit of money years ago (when i started investing in shares) thinking i was smarter than the market.
Evand where do you suggest we invest our money if shares are bad and property is bad?????
I could name many stocks that this logic would have cost you plenty.If I buy today and it takes a while to go back up...well fine with me.