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Here it comes!



May 21, 2009 – Comments (12)

I will be very surprised if the market doesn't resume it's plunge today.

Pension Insurance is 35 bil in debt.

Government hinting at longer recovery.

Techs having really bad earnings reports.

Oil and Gold shooting up for the last week.

The UK losing it's credit rating.

I hope I'm wrong, but I believe we are going to have a plunge that last for quite a while now.

12 Comments – Post Your Own

#1) On May 21, 2009 at 9:20 AM, goldminingXpert (28.89) wrote:

Oh Chris, that's so naive to think the market will go down because the economy is getting worse. If that were the case, the S&P would be at 690, not 890. We're probably going to do the old bull classic... open down 100 points on the Dow and close green. I hope not though, I'm starting to get tired of this bear market rally.

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#2) On May 21, 2009 at 9:29 AM, WeenTang (25.78) wrote:

Yeah Chris, you are basing your reasoning on logic.  The market is based on propaganda, fictitious numbers, and "hope."

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#3) On May 21, 2009 at 9:50 AM, ChrisGraley (28.73) wrote:

Thank you for correcting me! Now, I must hurry to buy all of those undervalued bank and automotive stocks!

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#4) On May 21, 2009 at 9:55 AM, JFund (50.77) wrote:

It depends whether you're a long term investor or a short term trader.  As a long term investor, the market is reasonably cheap when you take a 5+ year outlook.  If your time horizon is days or weeks, the market could very well revisit the S&P 700s.

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#5) On May 21, 2009 at 9:57 AM, goldminingXpert (28.89) wrote:

That's right Chris. One you remove your brain from the investing process, you can start to invest just like the bulls--what's first to buy in this GENERATIONAL BUYING OPPORTUNITY? Clearly, insolvent value-free companies are best, why buy companies with profits or a positive book value when you can get CHEAP STUFF like S, C, GM, AIG, etc. for under $5 a share. THAT'S SO CHEAP. GO! BUY! NOW!

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#6) On May 21, 2009 at 9:57 AM, tdoodler (37.49) wrote:

Dont forget to stock up on home builders, REITs and consumer discretioneries.  I didnt realize it, but apparently they're undervalued too.

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#7) On May 21, 2009 at 10:04 AM, goldminingXpert (28.89) wrote:

YES, HOMEBUILDERS! In five or ten years, we won't have a glut of housing anymore and clearly we need to be BUYING NOW to capitalize on the chance of a recovery sometime... man... I can't even get excited. There are no barriers to entry in homebuilding and most of these companies will go bankrupt, but what the heck, BUY BUY BUY!

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#8) On May 21, 2009 at 10:25 AM, ChrisGraley (28.73) wrote:

If I could just print my own money to buy all of these things, but alas I'm not a bank.

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#9) On May 21, 2009 at 10:31 AM, goldminingXpert (28.89) wrote:

Printing worthless paper to buy worthless shares. Does that actually accomplish anything?

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#10) On May 21, 2009 at 10:37 AM, ChrisGraley (28.73) wrote:

Worthless optimisim?

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#11) On May 22, 2009 at 4:14 PM, speedybure (< 20) wrote:



Hey I don't know if you remember, but i mentioned a few internatioal inflation play on valuation of silver wheaton post. Anyway Migao , which I think could be a 10-bagger reased earnings yesterday. They grew 270% even with lower potash prices relative to last year. they still trade at an 8 P/E, no debt, and have already laid out the investment to increase production capacity 70% over the next 12-14 months. Here;s the link from yahoo in case your interested : 

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#12) On May 26, 2009 at 1:51 AM, alexxlea (59.87) wrote:

Had to rec because the comments here are hilarious.

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