The "up-to-the-minute Market Data" thread

Ok, this question is for my two "marketwatch idols", and the ones I believe to be the most trustworthy and comforting, Redhatty and Hx3.

This may be the wrong place to ask, but I have been following thiss nigt and day for months. My significant other recently settled his mother's estate and the funds are sitting quietly in 3 banks. I was able to convince him to split it up among banks for safety and STAY OUT of the market. His stock broker is desperately wanting him to invest it as you can imagine!!
(I feel like I'm swatting flies every time they call the house! lol!)

My question is, and he asked me last night out of fear, "what the hell do we do with this if banks are going to fail?? Bury It in the back yard?!".I really feel bad for him and I am kind of new to the game, but I'm slowly convincing him of things that are happening. Last night he asked 'so, where DO you get this information, anyway?"(I'll tell him eventually...not the right time to spring ATS on him).

So, what should we do? Now I'm starting to panic

Personally i would invest in land, crops and renewable energy for my home. These are things the are actually tangible, money saving and would be useful in or out of an economic disaster

reply to post by fullmoonfairy
I really wish I knew what to tell ya...

In one way...if a collapse happens...it might not be worth more than TP...

I'd keep a eye out for Treasury/FDIC/News...
It is gettin' quite tight now though...I'm watchin' REAL close...

Edit: Kinda like they said...do some stocking up on basic survival stuff...if nothing else...you'll always use 'em...worst case...barter...


[edit on 3/5/2009 by Hx3_1963]

Loved the title of an article on Bloomberg today

"Darth Wall Street" ...............calssic, S&P 689.25 lovely

reply to post by fullmoonfairy


**theoretical, non-advisory comments**

In your position I'd seriously consider investing in property. (Outright purchase only!)

As a long-term investment there is a strong case for saying few things compare.


[edit to add:]

There are several in here (in addition to the two you mentioned) with a very full grasp of the overall picture. While they can only provide thoughts rather than advice (!) they might provide topics that could be discussed with a good professional financial advisor. (Stander is another to look out for, incidentally.)




[edit on 5/3/09 by pause4thought]

Dow Jones Industrial Average 6,681.10 11:46am ET -194.74 (-2.83%)
S&P 500 INDEX,RTH 690.04 11:47am ET -22.83 (-3.20%)
NASDAQ Composite 1,318.58 11:48am ET -35.16 (-2.60%)

Leveling out for the moment...

reply to post by pause4thought
Agreed...

I'm a decent data/news/views guy, but, I would never claim to give actual advice...just some basics...

...many others are more versed in the real technical details than I...

Edit: In a way that's funny (not)..."seek Financial Advisors advise"...aren't they the ones who have been taking us to the cleaners all along?!?



[edit on 3/5/2009 by Hx3_1963]

Steven Leuthold, whose Grizzly Short Fund makes money for investors by betting companies will fail, said yesterday he wouldn’t invest in his own fund now because the U.S. stock market is close to its bottom.


This guy thinks we're near bottom? Did I miss something or is he in for a nasty surprise?

Thanks a lot, all of you. I won't take up any more space on this thread, but I do feel better already just letting it out!

We have a lot to talk about this weekend. It's too bad this all happened right when the collapse started and we haven't even had time to think it through!


Thanks!

reply to post by Hx3_1963


Yea those are the guys that take your money and move it around in the market. They get paid every time they make a trade so I would imagine in this market they are doing fairly well, frantically moving stocks around and hope they get lucky.

The DOW is approaching that 6500 level we just might see that today.

What was the next support level for the S&P 676? I don't think we will see that today, well maybe but that is looking to be on the horizon.

edit -

It didn't take long to wipe out all the gains of yesterday and then some.

[edit on 5-3-2009 by Hastobemoretolife]

Dow Jones Industrial Average 6,651.23 11:59am ET -224.61 (-3.27%)
S&P 500 INDEX,RTH 686.39 11:59am ET -26.48 (-3.71%)
NASDAQ Composite 1,311.45 11:59am ET -42.29 (-3.12%)

A slight drop...

DJIA Apr '97 levels?
S&P Sept '96


[edit on 3/5/2009 by Hx3_1963]

I think I'm going crazy.... someone please tell me why I SHOULDN'T BUY Citibank stock for a dollar??? Holy Crap!!!

reply to post by worldwatcher


Guess if you think the Gov will prop it up forever...it's a buy...



Oil $44.06
Gold $925

Closing in one 2 lost decades... + whatever it takes to regain what we lost...

Final Eastern Markets:
FTSE 100 3,529.86 11:35AM ET -116.01 (-3.18%)
CAC 40 2,569.6299 11:53AM ET -106.05 (-3.96%)
DAX 3,695.49 11:45AM ET -195.45 (-5.02%)

Dow Jones Industrial Average 6,651.39 12:07pm ET -224.45 (-3.26%)
Dow Jones Industrial Average 6,640.40 12:10pm ET -235.44 (-3.42%)

New Highs 4 5 1 57
New Lows 637 124 379 396

[edit on 3/5/2009 by Hx3_1963]

BOA I can see being nationalized and propped up by the govt until this situation changes, but Citibank I'm not so sure..... I just can't believe the price though...If only my crystal ball wasn't so darn cloudy when it comes to peeking into our financial futures....

btw Tuesday was the dead cat bounce and yesterday they took the cat out of the ICU too early, guess we're back to the death watch

sigh....

[edit on 3-5-2009 by worldwatcher]

reply to post by Hx3_1963


Re asking for advice from a professional advisor:

a) in the position described I'd talk things over after opening the discussion with "Stock markets are out of the question"

b) I was basically saying don't take my word as Gospel.

NOTE: In the light of the post at the top of this page I've started a new thread which I think may clarify to what degree we can be relied on for authoritative comments:

How Deep is your Understanding of Economics?!

Hopefully it will be a fun excercise...

reply to post by worldwatcher
It was the "classic pump-n-dump" on China stimulus news...put it out...pull it out..."buy on the rumor, sell on the news"...
Kinda sad in a way...we're all so desperate, we go gaga over China...


Dow Jones Industrial Average 6,640.32 12:12pm ET -235.52 (-3.43%)
S&P 500 INDEX,RTH 685.55 12:18pm ET -27.32 (-3.83%)

[edit on 3/5/2009 by Hx3_1963]

Originally posted by fullmoonfairy
Ok, this question is for my two "marketwatch idols", and the ones I believe to be the most trustworthy and comforting, Redhatty and Hx3.

This may be the wrong place to ask, but I have been following thiss nigt and day for months. My significant other recently settled his mother's estate and the funds are sitting quietly in 3 banks. I was able to convince him to split it up among banks for safety and STAY OUT of the market. His stock broker is desperately wanting him to invest it as you can imagine!!
(I feel like I'm swatting flies every time they call the house! lol!)

My question is, and he asked me last night out of fear, "what the hell do we do with this if banks are going to fail?? Bury It in the back yard?!".I really feel bad for him and I am kind of new to the game, but I'm slowly convincing him of things that are happening. Last night he asked 'so, where DO you get this information, anyway?"(I'll tell him eventually...not the right time to spring ATS on him).

So, what should we do? Now I'm starting to panic

AWESOME question fullmoonfairy! You are very fortunate to be in the situation you are in! (Well, condolences on the S.O.'s mother though.)

I am no expert, but IMHO, I agree with others... right now you want to look at putting that money into something that:
1. Is useful in the event of a full collapse/depression
2. Holds real, actual value
3. Will not disappear

Purchasing some land and the tools necessary to use that land would be a very wise start. Build a small building on the land with solar energy and a well. Try your best to make it sustainable. Purchase a good cache of seeds, learn the agriculture of your area, and start farming.

Worst case: You have a small sustainable farm yielding some fresh fruits and veggies which could become a summer cottage when the economy clears up.
Best case: You have a safe-haven/sanctuary if TSHTF.

Either way, you have something which holds REAL value. The cost of land is falling and reasonable, and the cost of building is currently low because no development is going on and fuel to transport materials is cheap. And labor? lol.... you will be fighting skilled laborers back!

The typical 3G's mantra of survivalists (Guns, Gold and Groceries) is decent, but if I had the cash I would start with the farm. If you purchase outright and go 'off the grid' with it, your only obligation is taxes.

DO NOT hold the money in USD too much longer. Not only is the FDIC concerned about being able to cover all of the projected 2009 bank failures, but inflation will ruin the value of that money.

Also, DO NOT put $$$ into the market or commodities thinking you are gonna get rich right now. Unless you are a seasoned investor (and even they are losing their shirts these days) you have no business being in the market. When the real 'bottom' comes in, you will know it. Everybody talks about the 'bottom' as if they are going to miss the boat if they do not hop on the bottom that very day when in reality it will take months to crawl back up. You will have opportunity to invest when the time is right. That time is a minimum 12 to 18 months out - at the safest measure.

Keep in mind, K-wave/Elliott Wave followers predict a false bottom very soon which will propel the markets into a small bubble. The dow could hit 9k or even touch 10k. Don't be fooled because the downturn after that is the proverbial "nail in the coffin".

5S: Settlement (Land), Shelter, Supplies, Seeds and Sustainability. That is what I would do.

Your mileage may vary. Best of luck!

The explanations the MSM are offering for the last two days demonstrate a complete absence of logic. They're pegging yesterday's gains to the idea that China would pass their own stimulus bill and today's losses to the fact that China has since said it will not be passing a stimulus package.

What a collective hive mind of dumbasses! They are flipping the good news and trying to sell it as bad. If China starts pumping resources into its own economy at an accellerated rate, guess who suffers the most? That's right, the USA. Do these mental midgets not understand the rammifications of a Chinese government boosting their domestic spending? Don't the see that any money China uses for that purpose will have to be taken from somewhere and the most logical target would be from the pool they've been using to buy US government debt?

The fact that China is still buying this debt should at the very least have no impact, positive or negative, on the market. At best it should provide a little boost. The idea that it is what's bringing it down today, however, is beyond idiotic.

reply to post by pause4thought


What a wonderful idea! If I even slightly had any trust in the professionals,I would have had one on speed dial by now! I trust what people here have to say far more....along with educating myself in the process.

reply to post by burdman30ott6
Ah...not exactly...

They're keeping the original $586B stimulus...and...

Chinese leaders to consider welfare for all
edition.cnn.com...

...there goes that theory...anything over the stimulus will go for social programs to quell the masses...sorry...


Gold $924.40... a slight rise in progress...time to watch it again?

[edit on 3/5/2009 by Hx3_1963]