Indexes fall to 1997 levels - Page 2 - Mercedes-Benz Forum

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post #11 of 29 (permalink) Old 02-23-2009, 05:47 PM
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Put your money in the secondary auto parts business. Find a Franchise like Auto Value , Middas, Valvoline , Jiffy lube ,etc. That market is stable and growing.
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post #12 of 29 (permalink) Old 02-23-2009, 05:51 PM Thread Starter
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Good call.
I agree, people holding on to the so called junkers!

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post #13 of 29 (permalink) Old 02-23-2009, 05:54 PM
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My sons two stores are up 35% year to date, he is looking at opening another. I will give him the cash if he asks me, much better than TBills.
post #14 of 29 (permalink) Old 02-23-2009, 08:31 PM
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But of course one doesn't lose or make any capital gain until it's sold.
But you knew that already!
Thought I was net down (due to remaining mutual funds) last year so I deliberately took some gains on Dec.31 to offset. Wrong, I was net up, so now I owe more taxes. I guess that's good, but it doesn't feel particularly good. Even swimming pools probably got warm when Rome burned.

And btw, I've bought things lately too, only they aren't stocks. Mostly ETFs which I think are due for rebounds. We'd better all be real patient.
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post #15 of 29 (permalink) Old 02-23-2009, 09:22 PM
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What was the Dow in 1982?

Nikkei sheds 2.6% on exporters, 26-yr low in sight | Markets | Markets News | Reuters

TOKYO, Feb 24 (Reuters) - Japan's Nikkei stock average slid 2.6 percent on Tuesday, hurt by exporters such as Canon Inc (7751.T) after worries about financial system stability sent U.S. stocks to a 12-year low.

Japanese Finance Minister Kaoru Yosano said the government was studying measures to support the stock market, while the Nikkei briefly fell as low as 7,155.16, breaking below the Oct. 27 closing level of 7,162.90, its lowest finish since October 1982. [ID:nT359930]

The benchmark Nikkei .N225 declined 191.66 points to 7,184.50, after ending the previous day at 7,376.16, its lowest close since Oct. 27.

The broader Topix retreated 1.8 percent to 721.87, after booking a 25-year closing low for the second day in a row on Monday. (Reporting by Aiko Hayashi)
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post #16 of 29 (permalink) Old 02-23-2009, 09:26 PM Thread Starter
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Jan 4 of 82 it was @ 822

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post #17 of 29 (permalink) Old 02-23-2009, 09:28 PM
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Jan 4 of 82 it was @ 822
Fucking A.

Hope it won't happen.
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post #18 of 29 (permalink) Old 02-24-2009, 07:35 AM
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NEW YORK (AP) -- The major market indexes have staggered to their lowest levels in a decade, pulled lower by investors rapidly waning confidence.

The Standard & Poor's 500 index fell to April 1997 levels Monday, while the Dow Jones industrial average, down about 215 points, reached its levels of October 1997 as investors succumbed to their growing worries about a recession that has no end in sight.

"People left and right are throwing in the towel," said Keith Springer, president of Capital Financial Advisory Services.

Most financial stocks were pounded even as government agencies led by the Treasury Department said they will launch a revamped bank rescue program that includes the option of increasing government ownership in financial institutions without having to pour more taxpayer money into them.

Although the government has said it doesn't want to nationalize banks, many investors are clearly still concerned that this could be a possibility as banks continue to suffer severe losses because of the recession. They're also worried that banks' losses will keep escalating as the recession sends more borrowers into default.

"The biggest thing I see here is the incredible pessimism," Springer said. "The government is doing a lousy job of alleviating fears."

The Treasury and other agencies issued a statement after The Wall Street Journal reported that Citigroup is in talks for the government to boost its stake in the bank to as much as 40 percent. Analysts said the market, which initially rose on the statement, wanted more details of the government's plans.

"It's only a very partial picture of what we may get," said Quincy Krosby, chief investment strategist at The Hartford. "This proverbial lack of clarity is damaging market psychology."

Meanwhile, technology stocks are also falling after The Wall Street Journal reported that Yahoo Inc.'s new chief executive is planning a companywide reorganization. But the selling came across the market as pessimism about the recession and its toll on companies deepened.

"There's no where to hide anymore," said Jim Herrick, director of equity trading at Baird & Co.

The market's decline extends massive losses from last week when the major stock indexes tumbled more than 6 percent. The major indexes plunged through the lows they reached in late November, at the height of the credit crisis.

In the final hour of trading, the Dow dropped 215.76, or 2.93 percent, to 7,149.91, after earlier falling to its lowest level since Oct. 28, 1997.

The Standard & Poor's 500 index fell 22.12, or 2.87 percent, to 747.93. Earlier, the S&P fell to its lowest level since April 1997.

The technology-laden Nasdaq composite index dropped 44.60, or 2.41 percent, to 1,406.46.

The Russell 2000 index of smaller companies fell 13.08 or 3.18 percent, to 397.88.

Declining issues outnumbered advancers by about 5 to 1 on the New York Stock Exchange, where volume came to a light 1.03 billion shares.

Among tech stocks, Hewlett-Packard Co. fell $1.56, or 5 percent, to $29.68, and Intel Corp. dove 67 cents, or 5.2 percent, to $12.11.

Other big decliners included General Electric Co., which dropped to a 14-year low of $8.80, but later traded down 48 cents, or 5.1 percent, at $8.90. Alcoa Inc. tumbled 43 cents, or 6.8 percent, to $5.86.

Some financial stocks managed to hold on to their earlier gains, including Citigroup, which rose 33 cents, or 16.7 percent, to $2.28, and Bank of America Corp., which gained 30 cents, or 7.9 percent, to $4.09.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.78 percent from 2.79 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.28 percent from 0.26 percent Friday.

The dollar was mixed against other major currencies, while gold prices fell.

Light, sweet crude fell $1.90 to $38.13 per barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 fell 0.99 percent, Germany's DAX index fell 1.95 percent, and France's CAC-40 slipped 0.82 percent. Earlier, Japan's Nikkei stock average fell 0.54 percent.

Good job, GOP!

Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.

-President Barack Obama, 1st Inaugural address
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post #19 of 29 (permalink) Old 02-24-2009, 07:38 AM
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Fucking A.

Hope it won't happen.
If it does, I'm buying like a muh'fka...
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post #20 of 29 (permalink) Old 02-24-2009, 12:28 PM
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Good job, GOP!
!!! HURRY, BUY NOW, THE GREAT DEAL WON'T LAST TILL TOMORROW !!!

quotes:
"For every day we wait or point fingers or drag our feet, more Americans will lose their jobs. More families will lose their savings. More dreams will be deferred and denied. And our nation will sink deeper into a crisis that, at some point, we may not be able to reverse"

"A failure to act, and act now, will turn crisis into a catastrophe and guarantee a longer recession, a less robust recovery, and a more uncertain future.That's why I feel such a sense of urgency about the Economic Recovery and Reinvestment Plan"


Obama's Speech: Balancing Hope, Hype : NPR
"Don't tell me words don't matter," Obama said, recalling FDR's famous line. " 'We have nothing to fear but fear itself.' Just words. Just speeches."
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