[quote=DAtoo][quote=joedabrkr] [quote=DAtoo]

[quote=joedabrkr]Did any of you consider taking a little cream off the top when the market screamed through 14000 with little good reason?

[/quote]

When did it scream through 14,000.  I seem to recall that it closed a tiny fraction above 14,000 and then headed south.

Did they ring a bell that you heard, but nobody else did?

[/quote]

Maybe I'm not being sufficiently precise.  The market topped out around 14123 on the Dow on what I recall was a couple of pretty strong up days.  "Scream" may be overly dramatic but the market action felt pretty fluffy and speculative to me.  As it approached that round number the "all is well" attitude most people had only increased my convictions that things were getting a bit over cooked.

[/quote]

Joeboy, if you're going to invent stories you really ought to research things--not to mention an embarassing lack of knowledge about recent history.

For three days--July 17, 19 and 20--the Dow traded INTRADAY above 14,000.  The all time intraday high was 14,021.95 on the 17th.  Where did you up with 14,123?

I'll say it again--you remind me so much of "Big Red" who used to show up at the bar talking about what a wizard he was in his ability to time the market.  Always ending with a whispered, "I'm a little short, can you loan me a grand till payday?"

[/quote]

Actually, DAtoo, the all-time intraday high was 14,121.

http://bigcharts.marketwatch.com/historical/default.asp?dete ct=1&symbol=djia&close_date=7%2F19%2F07&x=29&amp ;y=23

But who's counting...

[quote=AllREIT][quote=joedabrkr]Did any of you consider taking a little cream off the
top when the market screamed through 14000 with little good reason?

Or
did you listen to the talking heads from all the major firms who were
telling you "Life is good, pay no mind to the deteriorating
fundamentals in real estate."

One of the best things you can do
for yourselves and your clients is to realize that the so-called
’strategists’ and head economists for the major firms are merely
permabulls who would not tell you that they were worried about the
market even if they had the capacity to form a contrary opinion.

[/quote]



Which is all well and good, except that the issues in real estate
(which must be split into commercial/residential real estate et al) do
not affect everything else. IMHO wider credit spreads are a good thing,
since it means more return for each unit of credit risk.



While real estate securities have been fun drama, the much bigger risk is rolling over tons of leveraged loans into the much tighter credit market. People who invested in senior loan funds are going to take a bath.



IMHO if there is one sector to buy right now, it is major banks (KBE).

[/quote]

I disagree they DO affect many other things.

If you’re close to walking away from your mortgage you’re not likely to splurge on a big screen plasma TV(BBY) or renovate your kitchen(HD) or buy a new car(GM).

If this credit crunch means that existing leveraged deals cannot be consumated, it will have an impact on the stocks of the companies that were supposed to be taken private.

And eventually if real estate gets cheap enough the “smart money” might consider it a good competing alternative to stocks.

People are freaking out. It’s going to create some great opportunities, but perhaps not just yet.

[quote=DAtoo]

[quote=joedabrkr]

I took a quick look at the most handy resource:

http://finance.yahoo.com/q/bc?s=^DJI&t=3m

Perhaps they had bad data.  I’m not going to quibble over 100 points on the Dow, nor precisely which days it happened.

In the end, as I’ve said before, I don’t really CARE whether you believe me.
[/quote]

Joeboy, what is a financial "professional" such as yourself doing using Yahoo for your information?  Don't you "professionals" have access to more reliable sources of information?

While we're at it, I went to that site and can clearly see that the Dow touched 14,000 on July 19th but never really closed above it--I would think that a "professional" such as you would be able to do the same.

Finally, while you may not care if I believe or respect you--do you care if anybody does?

Why Joeboy I would figure a guy who was long puts and cash would be less testy.

Don't you have access to more reliable information than Yahoo?

[quote=DAtoo]

Why Joeboy I would figure a guy who was long puts and cash would be less testy.

Don't you have access to more reliable information than Yahoo?

[quote=pretzelhead]

DAtoo, you're like a one of those yappy little white poodles with the all that dirt and slobber caught in the hair around the mouth. 

[/quote]

And wearing a sweater...

[quote=DAtoo]

Why Joeboy I would figure a guy who was long puts and cash would be less testy.

Don't you have access to more reliable information than Yahoo?

[quote=joedabrkr] [quote=DAtoo]

Why Joeboy I would figure a guy who was long puts and cash would be less testy.

Don't you have access to more reliable information than Yahoo?

[/quote]

And by the way you never chose to address your apparent mistake.
[/quote]

I did not see that Yahoo had made that mistake because I knew--as in KNEW--that on the 19th it closed fractionally above 14,000 and had never been higher.

I saw the chart but did not look farther because I don't use Yahoo for my information.

Why did you not realize that 14,123 could not have possibly been right because you too knew that 14,000 and change was as high as it ever got.

How can you avoid looking at your shoes when you claim to be a "financial advisor?"

How can you avoid looking at your shoes when you claim to be a "financial advisor?"

How can you avoid the fact that nobody cares about your life... Nobody cares about your thoughts on the markets... Nobody cares about your doom and gloom scenarios... Nobody cares about your dinner plans this evening..Nobody cares about your trades or what the mutt in the other room is doing on the computer.

[quote=blarmston]

How can you avoid looking at your shoes when you claim to be a "financial advisor?"

How can you avoid the fact that nobody cares about your life... Nobody cares about your thoughts on the markets... Nobody cares about your doom and gloom scenarios... Nobody cares about your dinner plans this evening..Nobody cares about your trades or what the mutt in the other room is doing on the computer.

[/quote]

You do Blarmston, I can't say a thing without you commenting.  I am your hero.

14,121.04

You do Blarmston, I can't say a thing without you commenting.  I am your hero.

Oh my...

I'm not sure where the market is going, but I'm up just over 4% today in my stock account...

[quote=Indyone]

I'm not sure where the market is going, but I'm up just over 4% today in my stock account...

[/quote]

Good for you. What will you do when it hits $2,000?

So many choices.

Well, it was a pretty hairy day.  

One advantage of being longer in the businesses with clients that have been around a while (some for 15 years with me) is that even with the current drop, we are still well ahead of the game, have gains and they have been through similar market corrections.  No one likes to see their values drop, however some perspective is needed. 

That doesn't mean that I didn't spend a good part of this week and probably the next week holding hands and calling clients in addition to my regularly scheduled reviews.  If you don't stay in contact with your clients right now you are asking them to leave you.

What is the market going to do?  probably go down some more and then come up, after going sideways for a bit..... or not.  I think  that  this is a buying opportunity for some companies that have been swept up (or down actually) in the panic selling.

[quote=DAtoo][quote=Indyone]

I'm not sure where the market is going, but I'm up just over 4% today in my stock account...

[/quote] Good for you. What will you do when it hits $2,000?

So many choices.[/quote]

no no no....I said it GAINED 4%.  I'll keep my balances to myself, but I'll give you a hint...I made more in that account today than you and your wife combined...

[quote=Indyone][quote=DAtoo][quote=Indyone]

I'm not sure where the market is going, but I'm up just over 4% today in my stock account...

[/quote] Good for you. What will you do when it hits $2,000?

So many choices.[/quote]

no no no....I said it GAINED 4%.  I'll keep my balances to myself, but I'll give you a hint...I made more in that account today than you and your wife combined...

[/quote]

I don't recall saying what we made--so how would you know?

[quote=Dust Bunny]

Well, it was a pretty hairy day.  

One advantage of being longer in the businesses with clients that have been around a while (some for 15 years with me) is that even with the current drop, we are still well ahead of the game, have gains and they have been through similar market corrections.  No one likes to see their values drop, however some perspective is needed. 

That doesn't mean that I didn't spend a good part of this week and probably the next week holding hands and calling clients in addition to my regularly scheduled reviews.  If you don't stay in contact with your clients right now you are asking them to leave you.

What is the market going to do?  probably go down some more and then come up, after going sideways for a bit..... or not.  I think  that  this is a buying opportunity for some companies that have been swept up (or down actually) in the panic selling.

[/quote]

Would you like for me to shave you?

That might be my bad...was going off recollection that the wife made a couple grand and did better than you did today...

Loans market has crashed. Banks cant make the irresponsible loans they have over the past few years.  With so much junk bonds (ALT-A, Sub_prime, Neg-Am, no-doc) on the market bonds are not appealing to investors… not enough compensation for the risk associated with bonds.  It has hurt money market funds (those that were heavy in Floating rates), CMO’s, and corp bonds.  No demand for bonds kills the bond market.  With no bond market banks, realtors, title co’s, insurers, etc get slammed.  The cash pumped into the banks was a band-aid, the 50 bip decrease by fed is major surgery.  The doctor has not came of from the room to tell us how the patient is. JB- CNA