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How much will the market drop tomorrow?

Ugaman72 said:
Here's a name I can throw out there. It's a Brazilian Oil company named PBR (no not Pabst Blue Ribbon), but "Petroleo Brasileiro". I have some clients doing well on it. Worth some investigation. The symbol is PBR...read up.
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I've heard of them...they are worth a closer look.

Now, how about any of the stocks that took a big hit today? :D
 
Euros and British pound sterling.

Recent strength of dollar will get wiped out if Fed lowers rate.

To my limited understanding of the markets this looks like a good chance with limited downside.
 
grateful1 said:
Ugaman72 said:
Here's a name I can throw out there. It's a Brazilian Oil company named PBR (no not Pabst Blue Ribbon), but "Petroleo Brasileiro". I have some clients doing well on it. Worth some investigation. The symbol is PBR...read up.
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I've heard of them...they are worth a closer look.

Now, how about any of the stocks that took a big hit today? :D
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Do some research and find some good solid financials that have their feet under them. Wachovia has been taking a hit but will rebound nicely soon. Plus, they pay a good dividend.
 
Ugaman72 said:
Do some research and find some good solid financials that have their feet under them. Wachovia has been taking a hit but will rebound nicely soon. Plus, they pay a good dividend.
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Doing research now for a few names to get into down the road makes sense to me, but I'd be wary of putting money into equities right now. There will be a time to do it, but I don't think it's now. Too much volatility and risk out there for my comfort at the moment.

WB's dividend isn't that great in my eyes, I don't know that it's sustainable even at the rate it's been reduced to, and after they've picked WaMu clean, it wouldn't surprise me if the shorts really start to lean on it (12.6% of Float was short on 8/26 according one set of numbers I saw, vs 2.60 and 2.90 for BAC and C respectively).

Patience, Garshopper! :D
 
tigger said:
This is actually getting a little worrisome...
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It's suppose to.

The market balloon finally popped.

Hell, my house value went up almost $100K in a couple years...that's just does not happen where I live.

What goes up, must come down....
Spinning wheel...
 
I know it is only paper losses and overall I'm still ahead but almost 40K down for the week and it's only Wednesday ??? This is gonna cut into my scotch buying :(
 
AVB said:
I know it is only paper losses and overall I'm still ahead but almost 40K down for the week and it's only Wednesday ??? This is gonna cut into my scotch buying :(
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Can you say major correction, boys and girls? Although a paper loss, it's still painful!
 
grateful1 said:
tigger said:
This is actually getting a little worrisome...
Click to expand...

It's suppose to.

The market balloon finally popped.

Hell, my house value went up almost $100K in a couple years...that's just does not happen where I live.

What goes up, must come down....
Spinning wheel...
Click to expand...

I've been waiting for a significant correction for a while now. That's not what worries me.

The level of fear out there, as evidenced by the rates at which banks are willing to lend to each other, record jump in the price of gold, drop in the price of the dollar and finally, what's going on in equity markets, is, well, scary.

Fear makes people do stupid, poorly thought out things.
 
tigger said:
This is actually getting a little worrisome...
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It's going to get worrisomer and worrisomer.....

There is just no way this can end well. The Fed is out of cash, USA is 10 trillion in the hole, and burning an $800B annual deficit. Foreign markets are crashing, and they are not going to be happy with us, let alone buy our treasuries.

The craps tables in Vegas are a hell of a lot more fun than buying financials in this market, and IMHO, a much safer bet. BSC, LEH, FNM, FRE, AIG and WM all looked like screaming buys on their way to zilch.
 
half full monty said:
tigger said:
This is actually getting a little worrisome...
Click to expand...

It's going to get worrisomer and worrisomer.....

There is just no way this can end well. The Fed is out of cash, USA is 10 trillion in the hole, and burning an $800B annual deficit. Foreign markets are crashing, and they are not going to be happy with us, let alone buy our treasuries.

The craps tables in Vegas are a hell of a lot more fun than buying financials in this market, and IMHO, a much safer bet. BSC, LEH, FNM, FRE, AIG and WM all looked like screaming buys on their way to zilch.
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I doubt seriously we're at bottom yet. I'm taking a paper bath, but I'm staying the course. This too shall pass and the market will recover.
 
Marco-Polo said:
tigger said:
The level of fear out there, as evidenced by the rates at which banks are willing to lend to each other, record jump in the
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LIBOR's actually down year over year. Unfortunately, that's WORSE, not BETTER.
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MP,

I'm referring to the fact that the actual rate at which banks have been loaning to one another has been well over the Fed Funds Rate at times this week.
 
Regulators and institutional investors have made some good moves today.

Less fear out there is a good thing. :)
 
tigger said:
Marco-Polo said:
tigger said:
The level of fear out there, as evidenced by the rates at which banks are willing to lend to each other, record jump in the
Click to expand...

LIBOR's actually down year over year. Unfortunately, that's WORSE, not BETTER.
Click to expand...

MP,

I'm referring to the fact that the actual rate at which banks have been loaning to one another has been well over the Fed Funds Rate at times this week.
Click to expand...

Yes, that's exactly what I said: LIBOR = the London Inter-Bank Offered Rate. When banks loan to each other for capital, as opposed to reserve, they lend at rates relative to LIBOR, just like a commercial bank will loan you, as an individual, at rates relative to prime.

By contrast, the Fed Funds Rate is the rate, or range of rates, within which depository institutions (depository institutions only, by definition) lend to each other for regulatory reserve purposes. The Fed Funds Rate is manipulated by the FOMC.

There is a FFR-LIBOR spread, but that's a) because of different risk profiles and b) because LIBOR is open-market, where FFR is controlled by the Federal Reserve and is used as a tool of monetary policy (in order to manipulate the money supply or flow of monetary aggregates, M).
 
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