Who else is glued to the DOW?

[8mpg]

Officially over one trillion lost in paper - CNN

holy shit

[Denny]

Denny, I am just an idiot with a little bit of jingling jingling, so I ask this for discussion purposes.

If we lost a trillion on paper after a 630 point drop of the DOW, roughly 5.5% of the DOWs total; what was the most the DOW has ever gone up in history in one day?

If they can fuck things up this badly to domino us into loosing $1trillion in a single day, albeit on paper, you would think they could figure out a way to flip their strategy to send the DOW the other direction.

I'm trying to figure this out. I know the overall market lost value, but how the fuck did they come to that figure?

[347Mike]

So if this happens 14 or so more times we should be debt free, right?

[Zfan]

Boy that Muslim in charge can really tank a market by opening his mouth! Kind of like the Casino's use, they Call them "Coolers" I believe!

Barrack "The Cooler" Obama

[slow06]

Boy that Muslim in charge can really tank a market by opening his mouth! Kind of like the Casino's use, they Call them "Coolers" I believe!

Barrack "The Cooler" Obama

Did somebody say "Cooler"?

[Frank]

BOA may have gone down due to this announcement too.

AIG sues Bank of America for $10 billion over mortgages

http://www.usatoday.com/money/industries/banking/2011-08-08-bank-of-america-lawsuit_n.htm?csp=34money&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+UsatodaycomMoney-TopStories+%28Money+-+Top+Stories%29&utm_content=My+Yahoo

[slow99]

I'm trying to figure this out. I know the overall market lost value, but how the fuck did they come to that figure?

S and P is xx% of the US market cap, S and P lost x$ today. Or, just approximate it with market cap of the wilshire 5k or russell 3k.

[AdamLX]

I'm trying to figure this out. I know the overall market lost value, but how the fuck did they come to that figure?

And $2.9 trillion since July 22.

[Broncojohnny]

Futures already down another 3/4 of a point. Tomorrow will probably be another sell off.

[talisman]

Oh well. Just means I'm buying more with the money I'm shoveling into my 401k. Hell, I should probably up my contribution rate..

[Broncojohnny]

Uncle Ben needs to drop money from a helicopter PRONTO!

[slow99]

Oh well. Just means I'm buying more with the money I'm shoveling into my 401k. Hell, I should probably up my contribution rate..

The tax incentive alone basically makes that a no-brainer.

[talisman]

The tax incentive alone basically makes that a no-brainer.

Being serious, I already put 10% in. I figure it would probably be wise to seek other investments if I decide to start building more up. In fact, now that I've got all this free time, maybe it would be a good idea to start looking into that...


edit, or maybe more into the 401k would be better. Your thoughts?

[KBScobravert]

Futures already down another 3/4 of a point. Tomorrow will probably be another sell off.

I got confirmation my sells cleared out my portfolio on Thursday. I figure I may be buying it all back though in week when I see a bottom.

[Broncojohnny]

Being serious, I already put 10% in. I figure it would probably be wise to seek other investments if I decide to start building more up. In fact, now that I've got all this free time, maybe it would be a good idea to start looking into that...


edit, or maybe more into the 401k would be better. Your thoughts?

Until you are putting the most you can in the 401k then you shouldn't even put anything anywhere else, the tax advantage makes it very profitable. The maximum yearly is $16,500 or $17K, this is what you can put in, it doesn't count what your employer puts in. It also goes up every couple of years.