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Mon Oct 14, 2013, 02:47 AM

Dow Futures down 108...

Anyone watching? I pulled out last week (IRA)... Hope I’m wrong.........

But right now I think it’s 50/50..

28 replies, 1366 views

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Arrow 28 replies Author Time Post
Reply Dow Futures down 108... (Original post)
busterbrown Oct 2013 OP
Warpy Oct 2013 #1
elleng Oct 2013 #3
Warpy Oct 2013 #4
elleng Oct 2013 #5
regnaD kciN Oct 2013 #14
elleng Oct 2013 #2
busterbrown Oct 2013 #6
Warpy Oct 2013 #7
busterbrown Oct 2013 #9
elleng Oct 2013 #11
elleng Oct 2013 #8
busterbrown Oct 2013 #10
regnaD kciN Oct 2013 #16
elleng Oct 2013 #19
Bunnahabhain Oct 2013 #20
elleng Oct 2013 #22
grantcart Oct 2013 #12
grantcart Oct 2013 #13
AngryOldDem Oct 2013 #18
BillyRibs Oct 2013 #15
nadinbrzezinski Oct 2013 #23
AngryOldDem Oct 2013 #17
Bunnahabhain Oct 2013 #21
rdking647 Oct 2013 #24
Bunnahabhain Oct 2013 #25
alcibiades_mystery Oct 2013 #26
Bunnahabhain Oct 2013 #27
A HERETIC I AM Oct 2013 #28

Response to busterbrown (Original post)

Mon Oct 14, 2013, 02:51 AM

1. Dollars are taking a beating, too

Thanks a lot, you teabagger putzes.

I can't pull out, I can think of any place the boodle would be particularly safe.

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Response to Warpy (Reply #1)

Mon Oct 14, 2013, 02:52 AM

3. Nothing safer than 'holding,' imo.

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Response to elleng (Reply #3)

Mon Oct 14, 2013, 02:54 AM

4. It also appeals to my lazy nature.

If we default, it's not going to last long before the 12 teabaggers are being burned in effigy outside the Capitol building.

Those morons have no idea in the world just what they're playing with.

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Response to Warpy (Reply #4)

Mon Oct 14, 2013, 02:55 AM

5. Right.

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Response to Warpy (Reply #4)

Mon Oct 14, 2013, 05:37 AM

14. The problem is…

…the Tea-liban could cave and agree to an extension and clean CR within a day or two after default -- and it would still be too late. The damage will already be irreversible, and guaranteed to remain for the long term.



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Response to busterbrown (Original post)

Mon Oct 14, 2013, 02:51 AM

2. This week will be bad.

Will see where we go. Hope managers of my funds do the right things, and my federal soc sec, pension, and annuities survive.

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Response to elleng (Reply #2)

Mon Oct 14, 2013, 02:55 AM

6. So many have bailed at the wrong time...

My opinion (highly uneducated) If you stay in, stay in all the way. So many pull out and never see the recovery.

There will be a recovery... I have faith in our country..

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Response to busterbrown (Reply #6)

Mon Oct 14, 2013, 02:59 AM

7. The worst reason to make any decision is panic

but most people panic and end up selling low and then rebuying at a higher price. That keeps brokers in hand tailored suits even when the game hasn't been as rigged as it is now.

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Response to Warpy (Reply #7)

Mon Oct 14, 2013, 03:01 AM

9. Very difficult not to...

Especially if one is retired and on S.S...Panic is a natural reflex..

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Response to busterbrown (Reply #9)

Mon Oct 14, 2013, 03:09 AM

11. Yes, to a physical assault or natural disaster,

but people really need to think before they do any leaping, market-wise, and they/we can, take time, study and watch the way things move.

Certainly S.S. will 'recover,' at the very least. Someone here mentioned that if/when seniors, who tend to vote repug, fail to receive their payments, congresscritters will start hearing from them, and will respond accordingly.

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Response to busterbrown (Reply #6)

Mon Oct 14, 2013, 03:00 AM

8. Yes, there will be a recovery,

likely slower than the one we've experienced so far.

IF folks will recall what these f*****s are putting us through, we'll get a decent congress in '14, and then we'll be able to move and recover.

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Response to elleng (Reply #8)

Mon Oct 14, 2013, 03:04 AM

10. Can’t be certain about 14....But one would think that they are finished..

But there will be a recovery!!!

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Response to elleng (Reply #8)

Mon Oct 14, 2013, 05:42 AM

16. According to projections from the OMB (?)…

…default could lead to a global slowdown lasting a generation. In other words, think "Great Depression," but lasting twice as long.

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Response to regnaD kciN (Reply #16)

Mon Oct 14, 2013, 11:41 AM

19. Yes, it could be that bad.


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Response to elleng (Reply #2)

Mon Oct 14, 2013, 11:43 AM

20. Wow

 

You are set! I've only known a few people that have SS + pension + annuities.

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Response to Bunnahabhain (Reply #20)

Mon Oct 14, 2013, 11:47 AM

22. Yes, but utterly dependent on Fed government

for all these 'benefits.' Annuities due to husband's death, otherwise fed govt pension and ss. Had been looking OK, before the clowns.

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Response to busterbrown (Original post)

Mon Oct 14, 2013, 03:12 AM

12. Tokyo was closed in one hour FTSE opens

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Response to busterbrown (Original post)

Mon Oct 14, 2013, 03:54 AM

13. FTSE just went positive making up for initial sell off.

Don't they know we are crazy.

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Response to grantcart (Reply #13)

Mon Oct 14, 2013, 06:02 AM

18. I think everyone has convinced themselves a deal will be reached.

Understandable, because who wants to think about the alternative?

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Response to busterbrown (Original post)

Mon Oct 14, 2013, 05:41 AM

15. does anyone suspect as I,

 

this Dog and pony show might be staged to extract a great deal of wealth when it ends?

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Response to BillyRibs (Reply #15)

Mon Oct 14, 2013, 11:53 AM

23. Dollar is no longer reserve currency

 

Is not good for business. They know it.

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Response to busterbrown (Original post)

Mon Oct 14, 2013, 06:01 AM

17. I think we'll have a better idea of what will happen by market close today.

If it's status quo at 4 p.m. -- then fasten your seatbelts for Tuesday and Wednesday.

-105 as of 6 a.m.

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Response to busterbrown (Original post)

Mon Oct 14, 2013, 11:46 AM

21. Nearly noon on the East Coast

 

And Dow down 1/4 of a percent. Markets are barely even noticing at this point.

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Response to busterbrown (Original post)

Mon Oct 14, 2013, 11:55 AM

24. 90% hedged with puts

not really worried.
if the market crashes im protected.
if it rallys i out on participatin gon part of the rally buy im proetcted

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Response to busterbrown (Original post)

Mon Oct 14, 2013, 12:02 PM

25. NASDAQ in positive territory...

 

I guess the sky is not falling at this point in time?

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Response to Bunnahabhain (Reply #25)

Mon Oct 14, 2013, 12:04 PM

26. Heh heh heh

 

I'm always amazed by these threads. Pulled out of an IRA? Isn't there a severe tax penalty for that?

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Response to alcibiades_mystery (Reply #26)

Mon Oct 14, 2013, 12:11 PM

27. Same here

 

I think people make things up and do not realize how transparent what they are saying is. As you pointed out no one is pulling out of their IRA over this and anyone that thinks a 100 point move in the DOW is "an event" obviously does not really follow the market. I've seen at least a dozen threads in the last week screaming the sky was falling for really marginal movement in the markets. I mean, am I a little concerned what happens in the babies in DC do not solve their argument ASAP? Sure. But that doesn't mean I'm not going to laugh at the Chicken Little histrionics I've been seeing.

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Response to alcibiades_mystery (Reply #26)

Mon Oct 14, 2013, 12:17 PM

28. If by pulling out the OP simply means selling.....

and not taking the distribution, meaning leaving the proceeds of the sale in the IRA, then there is no taxable event at all.

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