Economy climbing back?

[klrv6]

Slowly....baby steps. We'll crawl back out. I've already tipped half my retirement back into the market but I don't expect to see real movement this year. Next year will be a little better. I'd just like to see people getting back to work and not hurting so bad.

I look at my current unemployment as a blessing. By losing my job with the big "T", I am able to spend almost all my time with the family. My wife owns a computer consulting company that I am able to turn several several grand a week for. I started it almost ten years ago as my plan B, when I worked at Lexmark. Years later, she became the president and owner, me just an administrator/consultant. I guess we did our best by having multiple financial paths and backups, not buying a house like almost everyone in the country wanted at the time and just general common sense when it came to big purchases. It's always the unknown that will get us though.

My personal opinion is most of the housing problems are a balance of greedy mortgage companies and people who aren't good at math or completely blinded by material things. If you buy a house @ $2600 a month and you bring home $2500, do you buy it? So many people wanted houses so bad, they chose to go ahead and purchase these homes, knowing they were already over their heads and the only thing that could help them was to let the price of the house increase and sell it for profit (that's where the ARM loan comes in). Then, you have the greedy mortgage company that just wanted bigger and bigger loans. That's when things started to get real bad.

One of pro's for me "losing" my job was getting my 401K rolled into an IRA that I can trade stocks with

 

[87grandnat]

klrv6 Yea, Ford "F" is in the crapper too... it may triple it's selling price in less than two months! It's a risk but most of my weight is carried in GM stock that was purchased this month

Why would you purchase GM stock this month? especially knowing they have until the first to make major chages (which they said are very unlikely) or declair bankrupty....which in case all shares will be cancelled or set to zero

Hope you didnt buy to much cuz they are screwed. Especially since all the insiders dumped there shares today. If you believe they are going to turn around you should have waited till after they go through bankruptcy and picked up shares at .2 cents lol

 

[IEATV8S]

What makes anyone think the economy is recovering? A stock market bounce? Oil prices shooting to over $60 a barrel intraday today? The fact that we are going to pay approx. $.50 cents on every dollar we borrow? A revised 1.8+ TRILLION DEBT for 2009? A true unemployment rate approaching 15%, A GM asured bankruptcy with over 50,000 worker being unemployed when considered with the auto parts suppliers, dealerships, and assorted spillover to Foreign car manufactures in America?

Please explain!

 

[87grandnat]

^^^^correct. the rally in the market has been very nice but there are still alot of other negatives that need to turn around or even stop falling

but the rally could turn around just as fast as it started. I sold out of most of my positions yesterday after feeling that the market is oversold or atleast moved to high to fast (biggest ralley since 2002) all my positions went lower yesterday and today. I am waiting to see how much lower they will drop and will buy back in....could be alittle, could be alot

we shall see

 

[Little6pack]

suckers Rally

 

[TT/Ameasap]

Agreed with the above post's. This market is a bear trap....Look at the T-bonds ready to implode.... Dollar aint looking too good either...Everyone is going into the market or precious metals right now, so there is a spike. I would invest in the latter to protect what most everybody else calls wealth....

Some people have had plenty of time to prepare for the worst and hope for the best.

Anyone got any .223 or 7.62x39?

 

[SS_Sean]

Yup, it's a false start in the market. This is where weak money gets shakin out. There will be another sell-off...a low...several false starts....and the slow climb out...

 

[Pronto]

If I remember right there's been 3 already, each a nice buying oppertunity to buy and sell later on.

 

[klrv6]

klrv6 Yea, Ford "F" is in the crapper too... it may triple it's selling price in less than two months! It's a risk but most of my weight is carried in GM stock that was purchased this month

Why would you purchase GM stock this month? especially knowing they have until the first to make major chages (which they said are very unlikely) or declair bankrupty....which in case all shares will be cancelled or set to zero

Hope you didnt buy to much cuz they are screwed. Especially since all the insiders dumped there shares today. If you believe they are going to turn around you should have waited till after they go through bankruptcy and picked up shares at .2 cents lol

I did buy a large amount and sold it Monday when there were rumors of them diluting the stocks to have enough to hand over to the investors/government. I made a few bucks on it and will pick them up after they become more stable. My Ford has been gone for a few weeks now. I'll wait to buy it again, it will go down before it goes up.