Are you buying anything after Thursdays panic? - Page 3

If you aren't going to buy dow down 1000 when are you going to buy?

When?

When we see the bottom, and this is by no way the bottom.
The market can't hold itself up

When it shows signs of life. My opinion is the whole Greece thing is just beginning, and there will be more to follow. Portugal, Ireland, and a few others are in an equally precarious position as Greece. Plus, if Moody's ever decides to lower the U.S.'s credit rating the market could get even uglier.

Moody is a joke, though.

The stock market is not controlled by Vulcan's, it's all emotion and symbolism.

However, I think we both can agree the US's level of debt is unsustainable. A Moody's credit reduction could trigger another sell off like today, but my opinion is it would have less of a rebound.

My exact thoughts, if Greece is this bad I dont even want to think about Portugal etc...

I do agree that our level of debt, and specifically the rate of growth, is unsustainable.

However, concerning Moody's specifically...

S&P and Moody’s continue ratings scam

Bad Credit: How S&P, Moody's and Fitch Helped Cause the Housing Bubble

Moody's Slapped With Subpoena: Credit Rating Agency Not Cooperating With Crisis Investigators

Moody’s Accused of Refusing To Explain Its Role in Financial Crisis

The Rating Game Scam
Bloomberg is reporting S&P, Moody's Mask $200 Billion of Subprime Bond Risk

I don't know enough about Moody's to defend or attack them. Saying that, all those links prove my point, Moody's has huge sway on the overall perception of the market (hence where I said it's symbolic).

Charles Manson is symbolic too

Touche.

and some adult diapers

As hard as it will be I plan to sit on the sidelines as I'm 65% cash. Days like yesterday could easily have an aftershock. I might even sell some more today as we could easily go green as people try to figure out what it is they will do. Either way 900+ down is not a good sign IMO.

I will look to renter around DOW 9500 or a clear sign things have calmed down.

Nasdaq names stocks with cancelled trades
Reuters
22 mins ago

HONG KONG/NEW YORK (Reuters) – Stock exchange operator Nasdaq OMX Group Inc issued the names of hundreds of stocks for which it is canceling trades following Thursday's sudden stock market plunge.

Soon after 2:30 p.m. ET, the Dow Jones Industrial Average fell nearly 1,000 points in its largest ever intraday points drop, which may have involved a trading error.

U.S. stock indices plunged by an average 9 percent in the last two hours of trading before clawing back some of the losses.

Nasdaq OMX said it would cancel trades with price deviations of more than 60 percent between 2:40 p.m. and 3 p.m. from their 2:40 p.m. levels, and the New York Stock Exchange said it would similarly cancel trades on its all-electronic NYSE Arca platform that deviated over 60 percent from their last print at 2:40 p.m. between 2:40 and 3 p.m.

Nasdaq said its decision was made in conjunction with other exchanges and said it could not be appealed.

For a list of the affected stocks, please see: (http://www.nasdaqtrader.com/TraderNe...?id=ETA2010-30)

Amongst the large companies that appear on the list are -

COMPANY NAME RIC

ACCENTURE INC ACN.N

EXELON CORP EXC.N

CENTURYTEL INC CTL.N

ONEOK PARTNERS OKS.N

CENTERPOINT CNP.N

BOARDWALK PIPELINE BWS.N

WINDSTREAM CORP WIN.O

INTERPUBLIC GROUP IPG.N

HANSEN NATURAL HANS.O

LINN ENERGY LINE.O

GENPACT LTD G.N

(Reporting by Phil Wahba and Vikram S Subhedar; Editing by Gary Hill and Anshuman Daga)

Buy anything? I'm buying EVERYTHING!