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epic007
Supreme tranceaddict



Registered: Jan 2006
Location: Long Beach, CA

Any opinions on investing in AIG.

Was roughly $24 3 weeks ago and now pretty cheap. Could it see a rise in the future?


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Old Post Oct-10-2008 04:44  United States
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xenpro
L.E.D There Be Light



Registered: Mar 2006
Location: Los Angeles, CA

ohhhhhh shiiiiiiiiiiiiiiiiiit

http://money.cnn.com/data/world_markets/

Old Post Oct-10-2008 05:01  Thailand
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DaveT
NEED PERSONAL COPY-EDITOR



Registered: Jul 2002
Location: San Francisco

Yah, the news here in Tokyo is like all about the stock market. Went down 10% in the first hour of trading this morning!

All because of the last hour of the DOW in today's trading.

Old Post Oct-10-2008 05:40  United States
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stefanoc
Supreme tranceaddict



Registered: Jun 2005
Location: CA

quote:
Originally posted by epic007
Any opinions on investing in AIG.

Was roughly $24 3 weeks ago and now pretty cheap. Could it see a rise in the future?


haven't been paying any attention to AIG lately but from what I remember was that the government was basically taking over it without even shareholders approval which means shareholders are getting screwed. the company won't be worth anything if government takes over.

my suggestion: skip AIG, stick to an etf or a mutual fund that holds a long a position similar in companies similar to AIG (KIE)

Old Post Oct-10-2008 06:24  United States
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diskodave
Supreme tranceaddict



Registered: Feb 2006
Location: dtsf

I would stay away from most financials in this market, besides BofA JPM and maybe Wells Fargo... many of the speculative names are a pure gamble. Nobody knows what's on their balance sheets.

I'd buy companies that have low debt, good growth rates, and low PEG/PE multiples. For example, LDK solar is BEATING their numbers and RAISING guidance as most other stocks arn't in this bear market... yet they are trading at a P/E to Growth ratio of 0.17 (which is very undervalued).


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Old Post Oct-10-2008 15:56  United States
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ninetyninej
Supreme tranceaddict



Registered: Mar 2003
Location: Sacramento, California

here comes socialism...


http://biz.yahoo.com/ap/081010/lehm...aults.html?.v=7

AP
US to take stake in banks, first since Depression

Friday October 10, 7:36 pm ET
By Jeannine Aversa, AP Economics Writer

WASHINGTON (AP) -- The government will buy an ownership stake in a broad array of American banks for the first time since the Great Depression, Treasury Secretary Henry Paulson said late Friday, announcing the historic step after stock markets jolted still lower around the world despite all efforts to slow the selling stampede.


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Old Post Oct-11-2008 01:23  United States
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djGT
pho dac biet xe lua



Registered: Oct 2003
Location: The OC, USA

936pt rally today, biggest one-day gain since 1933.

we've finally reached the bottom folks, BUY BUY BUY!


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Old Post Oct-13-2008 20:21  United States
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ninetyninej
Supreme tranceaddict



Registered: Mar 2003
Location: Sacramento, California

quote:
Originally posted by djGT
936pt rally today, biggest one-day gain since 1933.

we've finally reached the bottom folks, BUY BUY BUY!


today was great and allowed me to realize some gains (phew!), but i'm still skeptical.

we could see this continue for another day or so but then again we could lose 300 points tomorrow because today was just a snap back rally from the massive one week loss we just endured...


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Old Post Oct-13-2008 22:08  United States
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ninetyninej
Supreme tranceaddict



Registered: Mar 2003
Location: Sacramento, California

good article and even better metaphoric photo

http://www.portfolio.com/news-marke...ll-Streets-Boom

The End

by Michael Lewis Nov 11 2008




my stocks are getting murdered and i have no more cash, now I'm going to have to sit and wait a long time before I can pull out at a profit or just even.

if you are in cash though now is a good time to cherry pick some srsly beaten up stocks - you may just have to wait quite a while to see really good returns.

(God the best of breed, incredibly cheap stock list is sooo big :< )


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Old Post Nov-13-2008 19:35  United States
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djGT
pho dac biet xe lua



Registered: Oct 2003
Location: The OC, USA

i can't believe BAC dipped at 14.88.


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Old Post Nov-13-2008 21:43  United States
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ninetyninej
Supreme tranceaddict



Registered: Mar 2003
Location: Sacramento, California

quote:
Originally posted by djGT
i can't believe BAC dipped at 14.88.


I know its previous low was $18.44 on July 15th when everything was crashing and they halted short selling and signed new legislation July 30th.

I never thought it would go below $18 but that douchebag Henry Paulson from the Treasury is deciding to reneg on the TARP program (which is partly why the $700bln bill passed) and in doing so everyone freaked out and started selling their financial stocks.

BAC will rebound (which began at the end of the session today) and will return to the $20 range soon enough.

I'm down $300 on that stock so I'm looking forward to it getting back in the $20s so I can turn a profit.

WFC, JPM, C, INTC, MSFT, HPQ, COST, WMT, MCD, S, KFT, AMZN, T, KO, NOK, IBM, CVX, JNJ, PG, OSG, and many more got sooooo low (and most still are cheap as hell)

My two speculative trades are SIRI and ABK. SIRI is down but ABK is up.


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Old Post Nov-13-2008 21:50  United States
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Electrophile
Walking to the light...



Registered: Jan 2005
Location: Rigel VII

I came across this rather frightening article this morning.

quote:
Celente Predicts Revolution, Food Riots, Tax Rebellions By 2012


The man who predicted the 1987 stock market crash and the fall of the Soviet Union is now forecasting revolution in America, food riots and tax rebellions - all within four years, while cautioning that putting food on the table will be a more pressing concern than buying Christmas gifts by 2012.

Gerald Celente, the CEO of Trends Research Institute, is renowned for his accuracy in predicting future world and economic events, which will send a chill down your spine considering what he told Fox News this week.

Celente says that by 2012 America will become an undeveloped nation, that there will be a revolution marked by food riots, squatter rebellions, tax revolts and job marches, and that holidays will be more about obtaining food, not gifts.

“We’re going to see the end of the retail Christmas….we’re going to see a fundamental shift take place….putting food on the table is going to be more important that putting gifts under the Christmas tree,” said Celente, adding that the situation would be “worse than the great depression”.

“America’s going to go through a transition the likes of which no one is prepared for,” said Celente, noting that people’s refusal to acknowledge that America was even in a recession highlights how big a problem denial is in being ready for the true scale of the crisis.

Celente says that by 2012 America will become an undeveloped nation, that there will be a revolution marked by food riots, squatter rebellions, tax revolts and job marches, and that holidays will be more about obtaining food, not gifts.


Celente, who successfully predicted the 1997 Asian Currency Crisis, the subprime mortgage collapse and the massive devaluation of the U.S. dollar, told UPI in November last year that the following year would be known as “The Panic of 2008,” adding that “giants (would) tumble to their deaths,” which is exactly what we have witnessed with the collapse of Lehman Brothers, Bear Stearns and others. He also said that the dollar would eventually be devalued by as much as 90 per cent.

The consequence of what we have seen unfold this year would lead to a lowering in living standards, Celente predicted a year ago, which is also being borne out by plummeting retail sales figures.

The prospect of revolution was a concept echoed by a British Ministry of Defence report last year, which predicted that within 30 years, the growing gap between the super rich and the middle class, along with an urban underclass threatening social order would mean, “The world’s middle classes might unite, using access to knowledge, resources and skills to shape transnational processes in their own class interest,” and that, “The middle classes could become a revolutionary class.”

In a separate recent interview, Celente went further on the subject of revolution in America.

“There will be a revolution in this country,” he said. “It’s not going to come yet, but it’s going to come down the line and we’re going to see a third party and this was the catalyst for it: the takeover of Washington, D. C., in broad daylight by Wall Street in this bloodless coup. And it will happen as conditions continue to worsen.”

“The first thing to do is organize with tax revolts. That’s going to be the big one because people can’t afford to pay more school tax, property tax, any kind of tax. You’re going to start seeing those kinds of protests start to develop.”

“It’s going to be very bleak. Very sad. And there is going to be a lot of homeless, the likes of which we have never seen before. Tent cities are already sprouting up around the country and we’re going to see many more.”

“We’re going to start seeing huge areas of vacant real estate and squatters living in them as well. It’s going to be a picture the likes of which Americans are not going to be used to. It’s going to come as a shock and with it, there’s going to be a lot of crime. And the crime is going to be a lot worse than it was before because in the last 1929 Depression, people’s minds weren’t wrecked on all these modern drugs – over-the-counter drugs, or crystal meth or whatever it might be. So, you have a huge underclass of very desperate people with their minds chemically blown beyond anybody’s comprehension.”


http://www.infowars.com/?p=5938


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Old Post Nov-14-2008 16:39  United States
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TranceAddict Forums > Local Scene Info / Discussion / EDM Event Listings > USA > USA - West Coast / Las Vegas > Arrived: Recession
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