Black Monday v 3.0 Today - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

burn_this_city · 01-21-2008, 09:08 AM

I was thinking its probably a good thing its MLK day.. I'm afraid if they keep slashing interest rates they're going to create bigger problems down the road..

Cowboy89 · 01-21-2008, 09:14 AM

Warning to all shareholders! Don't panic and sell off, you're only increasing the problem and financially you're better off in the long-run holding on.

The Goon · 01-21-2008, 09:15 AM

This is why I keep all my money in between my mattresses.

Wookie · 01-21-2008, 09:29 AM

Wow - just checked some O&G companies I owned before coming into work, saw them down a chunk, one 24% thought "holy crap, musta been some bad results" didn't check the general market until just now - wow, that's a big hit! Makes me feel better about my 24% one as it's probably just people bailing who are leveraged etc.

burn_this_city · 01-21-2008, 09:32 AM

I wonder which direction oil will go tommorow..

chummer · 01-21-2008, 10:03 AM

It could get worse tomorrow as the US markets are closed today.
Still,there are a lot of great buying opportunities out there,now is NOT the time to sell.

Buy when there's blood on the streets.

return to the red · 01-21-2008, 10:04 AM

so far today alone I'm averaging -10% on all my holdings...someone tell me it's all going to be OK

albertGQ · 01-21-2008, 10:07 AM

Quote:

Originally Posted by fotze

But all my money is tied up in stuff that went down, so it is pointless unless you have cash.

Now is the time to borrow the money and buy low

Wookie · 01-21-2008, 10:09 AM

Yeah - would love to buy all the big O & G companies today, would probably be a great 6 - 12 month return, if not a few years and I'd probably feel great about it. Even a few of the banks that have gotten killed.

To bad I don't have cash lying around

Cowperson · 01-21-2008, 10:12 AM

Quote:

Originally Posted by fotze

http://www.thisislondon.co.uk/news/a...res/article.do

The stock market was in meltdown today as nearly £60billion was wiped off London shares.

A combination of poor economic figures and the worsening global credit crunch sent the FTSE 100 plunging.

At one stage the drop was the biggest since 9/11 in 2001, although the index of Britain's biggest companies later clawed back some of the losses. At lunchtime the Footsie was down 250.1 points to 5647.8.

Stocks getting killed today, good thing the US market is closed.

"When the blood is running in the streets, that's the time to buy." - Old Wall Street saying.

Is the blood running in the streets?

This is "only" about 17% from the top. Not huge as far as these things could go. When it's 25%, it's getting serious.

The one's that go straight down, like this one, tend to be followed by straight up.

It's the ones that drip, drip, drip on a gradual decline through a year or more that tend to break your psychology.

Have a nice day!!!

Cowperson

return to the red · 01-21-2008, 10:14 AM

Thing that really pisses me off is that I just invested a whole bunch of money about a month ago when there was a pull back in the market. Guess I should have waited another month

burn_baby_burn · 01-21-2008, 10:15 AM

I do have cash laying around. Which O&G companies are attractive?

albertGQ · 01-21-2008, 10:17 AM

Quote:

Originally Posted by return to the red

Thing that really pisses me off is that I just invested a whole bunch of money about a month ago when there was a pull back in the market. Guess I should have waited another month

I'm in the exact same boat.

Julio · 01-21-2008, 10:19 AM

I have some $, but can't even access my webroker account...there must be some people doing some serious panicking.

Wookie · 01-21-2008, 10:27 AM

Quote:

Originally Posted by Cowperson

"When the blood is running in the streets, that's the time to buy." - Old Wall Street saying.

Is the blood running in the streets?

This is "only" about 17% from the top. Not huge as far as these things could go. When it's 25%, it's getting serious.

The one's that go straight down, like this one, tend to be followed by straight up.

It's the ones that drip, drip, drip on a gradual decline through a year or more that tend to break your psychology.

Have a nice day!!!

Cowperson

Could be a great time to dump some money into RRSP's. Taking a long run approach there and times like these end up being the best buys when you can take a very long run look at things.

Leeman4Gilmour · 01-21-2008, 10:28 AM

A couple of months ago I told myself to increase my cash position.

I wished I would have listened to myself.

The good news - I'm not retiring tomorrow. It's still depressing though. Not jump out of a window depressing, but depressing.

And if anyone cares, CLL is my personal favourite O&G. In my opinion, the best execution strategy in the oil sands - 10,000 bb/d at a time.

Wookie · 01-21-2008, 10:31 AM

yeah CLL is one I'd look at as well as Suncor.

burn_baby_burn · 01-21-2008, 10:34 AM

What about BQI?

Mean Mr. Mustard · 01-21-2008, 10:40 AM

Quote:

Originally Posted by Wookie

Could be a great time to dump some money into RRSP's. Taking a long run approach there and times like these end up being the best buys when you can take a very long run look at things.

Along that note I am looking at putting around 10-15 thousand into RRSPs for exactly that - the long run approach but I don't have the slightest clue as to where to start...

chummer · 01-21-2008, 10:45 AM

Quote:

Originally Posted by Mean Mr. Mustard

Along that note I am looking at putting around 10-15 thousand into RRSPs for exactly that - the long run approach but I don't have the slightest clue as to where to start...

Buy gold.