Wednesday, September 17, 2008

Where is the bottom for this market...

Man I could be venturing off into dangerous territory with this one. Economics is not my strongest suit, that being said I usually watch CNBC 1-2 hours a day (mostly Mad Money) and consider myself somewhat knowledgeable about the stock market. I am opening this up to anyone who knows anything about this type of economy. When and where is the bottom for this market? Will it happen tomorrow? Next week? Next month? Sometime in 2009 (god forbid)? What is the bottom for the Dow Jones? 10000? 9000? 8000? 7000? Or maybe even lower? That being said after watching the first few minutes of Cramer I think the Dow will bottom out at around 7,000 sometime around Halloween. I am trying to get some cash available because, and I'll be honest, I have dollar signs in my eyes right now. I'm drooling at the possibility of being able to make an absolute killing right now in the market. Stocks that have good bottom lines and solid "fundamentals" are being sold off in this panic frenzy are way undervalued at this point and they could go lower. As FDR said, "The only thing we have to fear is fear itself." Fear causes people to do irrational things, irrational things lead to unintended results. Word to the wise, people who are confident and keep their cool (me and hopefully at least a few of you out there) will see a 100-1000% return on their even short-term investment if you do your research.

3 comments:

Drew D. said...

Hey there Ben , nice blog, we are on the same team you and I. If you would like further economic analysis please check out my blog. The Welcome section would have alot of info you might be interested in. I explain how the American markets are resiliant, how we have seen these times before and persevered. You are absolutely right though, it is the time to BUY BUY BUY, if you have extra cash on hand buying a security or a home is a great investment in this current climate. Take care.

Ben said...

well it got below 8000 3 weeks after Halloween, I actually wasn't off by that much

The Zombieslayer said...

Sorry haven't been by in awhile.

Hard to say. I'm long on the Dow at 12k, 9k, and 8k. I'll eventually make money on all three positions, but 8k is a good buy.

At least I've made a chunk of change on Ford (I got in right around the low) but lost big with Google.