Stock Market Crash of 2002? - GoFuckYourself.com

roseyrid · 07-22-2002, 11:00 AM

wow, i woke up this morning and the DOW was under 8000, i thought it was all over...after i threw up a few times, the market turned around, its now up a little over 8000. Anyone else scared for what we might be in for?

FATPad · 07-22-2002, 11:03 AM

Nope. Looking forward to a huge drop.

FlyingIguana · 07-22-2002, 11:39 AM

if it drops under 8k i would pump some money in. don't have 100% of your money in stocks or anything close to it, but its smart to buy value when the markets down. eventually it'll go back up again.

when it makes its turn, thats where the gains are and if you buy before then, you already missed it.

RodneyXXX · 07-22-2002, 11:45 AM

will gain points soon!

Sly_RJ · 07-22-2002, 11:57 AM

Getting my money ready for it now...

Frank W · 07-22-2002, 11:59 AM

If the economy keeps on tanking and people's confidence in the accuracy of corporate audits remain low, Dow at 5000 is very possible. Check my post re P/E ratios.

I'm of the opinion that we're overdue for a long and sustained bear market. Look on the bright side, though, there are still ways to make money even in a down market. There will always be people that will make money--crisis or not. The real problem is the general economy and how it will impact most Americans--most of us really haven't gone through a crushing and long lasting economic downturn. The last long period began in 1973 and ended in 1981.

But as other posters pointed out, there may be a war soon with Iraq, etc. This may have an upside re the economy. Hmmmm, the first war with Iraq concluded with a recession [early 1990s].

salsbury · 07-22-2002, 12:02 PM

heh, i hope it drops. drops way further. we're looking at a correction rather than a crash. perhaps all of the late 90's phony gains can be erased completely. that'd be delicious.

the only thing i'm concerned about is mortgage forclosure rates. luckily, that's not tied to the stock market directly.

Sly_RJ · 07-22-2002, 12:07 PM

Question: what would a "crash" do to the real estate market? For example, if I wanted to buy a house or some property, would it be a better deal before or after a stock crash?

roseyrid · 07-22-2002, 12:12 PM

Quote:

Originally posted by Sly_RJ
Question: what would a "crash" do to the real estate market? For example, if I wanted to buy a house or some property, would it be a better deal before or after a stock crash?

youd be better off buying after the market crashed...many people will lose money and want cash, so you will be able to get better deals in property cause people will sell out, and move to a smaller house, hoping to pocket the difference in cash.
just my 2 cents
-rosey

Sly_RJ · 07-22-2002, 12:14 PM

Quote:

Originally posted by roseyatrid

youd be better off buying after the market crashed...many people will lose money and want cash, so you will be able to get better deals in property cause people will sell out, and move to a smaller house, hoping to pocket the difference in cash.
just my 2 cents
-rosey

That's what I was assuming...

salsbury · 07-22-2002, 12:24 PM

in fact

<img src="http://cchart.yimg.com/z?s=^dji&c=^gspc,^ixic&a=v&p=s&t=5y&l=on&z=m&q=l">

courtesy yahoo:
<a href="http://finance.yahoo.com/q?d=c&c=&k=c1&t=5y&s=%5Edji&a=v&p=s&l=on&z=m&q=l&x =on&y=on">DJIA vs. Nasdaq vs. S&P over the last 5 years</A>

so basically, forget the last 5 years even happened.

RW316 · 07-22-2002, 12:51 PM

true very true

Muffy · 07-22-2002, 12:56 PM

I am in the market for a new house as well...so perhaps I will wait and see

Frank W · 07-22-2002, 01:14 PM

Quote:

Originally posted by Sly_RJ
Question: what would a "crash" do to the real estate market? For example, if I wanted to buy a house or some property, would it be a better deal before or after a stock crash?

Actually, you're already seeing the effects of the stock collapse in the rise of the real estate market. It is viewed as a safe haven for cash fleeing the stock market. However, this is a bubble as well--specially in California. My guess is that in 3-5 years if not sooner there will be a real estate crash if the fed raises interest rates and cripples first time buyers. This will trigger a chain reaction upwards. Seen it before -- 1991 to 1994 in california, beverly hills homes went down to as low as 50%.

Sly_RJ · 07-22-2002, 01:28 PM

Quote:

Originally posted by Frank W

Actually, you're already seeing the effects of the stock collapse in the rise of the real estate market. It is viewed as a safe haven for cash fleeing the stock market. However, this is a bubble as well--specially in California. My guess is that in 3-5 years if not sooner there will be a real estate crash if the fed raises interest rates and cripples first time buyers. This will trigger a chain reaction upwards. Seen it before -- 1991 to 1994 in california, beverly hills homes went down to as low as 50%.

In my language, please? Bottom line, I'm sick of putting $1,200 on rent every month when I could be putting that same money into a mortgage instead, and be building an equity all along. So I want to get a house, condo, or whatever else that would be better then renting. Should I wait to see what happens, or try finding a place whenever is most convenient?

FlyingIguana · 07-22-2002, 01:39 PM

the economy isn't tanking. we're starting to see revenue thats beating expectations which is a good sign. but, investors are paranoid about the scandals which will keep stocks down. stocks have room to fall because p/e ratio isn't all that low, which surprised me when i seen it.

no one can predict the bottom, so if you keep a long term outlook on your portfolio you can get into stocks now and be ready when the markets go up.

FreeOnes · 07-22-2002, 01:58 PM

Quote:

Originally posted by roseyatrid

youd be better off buying after the market crashed...many people will lose money and want cash, so you will be able to get better deals in property cause people will sell out, and move to a smaller house, hoping to pocket the difference in cash.
just my 2 cents
-rosey
Originally posted by Sly_RJ

That's what I was assuming...

And many many other people. So I'm pretty sure it will happen

07-22-2002, 11:00 AM	#1
roseyrid Confirmed User Join Date: Feb 2002 Location: LA Posts: 1,058	Stock Market Crash of 2002? wow, i woke up this morning and the DOW was under 8000, i thought it was all over...after i threw up a few times, the market turned around, its now up a little over 8000. Anyone else scared for what we might be in for?

07-22-2002, 11:03 AM	#2
FATPad Confirmed User Join Date: Oct 2001 Posts: 6,693	Nope. Looking forward to a huge drop. __________________ <a href="http://www.adultcontent.co.uk">Adult Content UK - Great British Content</a>

07-22-2002, 11:45 AM	#4
RodneyXXX Registered User Join Date: Jul 2002 Location: trailerpark Posts: 69	will gain points soon! __________________ To be revealed on a rainy day in a near future... Is Rodney a motherfucker? You want to tell Rodney he is scum? You want to date Rodney (women only)? Click Here!

07-22-2002, 11:57 AM	#5
Sly_RJ Live Hard - Die Hard Join Date: Feb 2002 Location: Ready to leave... Posts: 17,042	Getting my money ready for it now... __________________ PHAT SERVERS - Quality dedicated hosting at a quality price! sly AT phatservers DOT com - 147479144

07-22-2002, 11:59 AM	#6
Frank W Confirmed User Join Date: Feb 2002 Location: California Posts: 889	If the economy keeps on tanking and people's confidence in the accuracy of corporate audits remain low, Dow at 5000 is very possible. Check my post re P/E ratios. I'm of the opinion that we're overdue for a long and sustained bear market. Look on the bright side, though, there are still ways to make money even in a down market. There will always be people that will make money--crisis or not. The real problem is the general economy and how it will impact most Americans--most of us really haven't gone through a crushing and long lasting economic downturn. The last long period began in 1973 and ended in 1981. But as other posters pointed out, there may be a war soon with Iraq, etc. This may have an upside re the economy. Hmmmm, the first war with Iraq concluded with a recession [early 1990s]. __________________ "If you hate a person, you hate something in him that is part of yourself. What isn't part of ourselves doesn't disturb us." -- Herman Hesse

07-22-2002, 11:39 AM	#3
FlyingIguana aspiring banker Join Date: Mar 2002 Location: toronto Posts: 10,870	if it drops under 8k i would pump some money in. don't have 100% of your money in stocks or anything close to it, but its smart to buy value when the markets down. eventually it'll go back up again. when it makes its turn, thats where the gains are and if you buy before then, you already missed it.

07-22-2002, 12:02 PM	#7
salsbury Confirmed User Join Date: Feb 2002 Location: Seattle Posts: 1,070	heh, i hope it drops. drops way further. we're looking at a correction rather than a crash. perhaps all of the late 90's phony gains can be erased completely. that'd be delicious. the only thing i'm concerned about is mortgage forclosure rates. luckily, that's not tied to the stock market directly. __________________

07-22-2002, 12:07 PM	#8
Sly_RJ Live Hard - Die Hard Join Date: Feb 2002 Location: Ready to leave... Posts: 17,042	Question: what would a "crash" do to the real estate market? For example, if I wanted to buy a house or some property, would it be a better deal before or after a stock crash? __________________ PHAT SERVERS - Quality dedicated hosting at a quality price! sly AT phatservers DOT com - 147479144

07-22-2002, 12:24 PM	#11
salsbury Confirmed User Join Date: Feb 2002 Location: Seattle Posts: 1,070	in fact <img src="http://cchart.yimg.com/z?s=^dji&c=^gspc,^ixic&a=v&p=s&t=5y&l=on&z=m&q=l"> courtesy yahoo: <a href="http://finance.yahoo.com/q?d=c&c=&k=c1&t=5y&s=%5Edji&a=v&p=s&l=on&z=m&q=l&x =on&y=on">DJIA vs. Nasdaq vs. S&P over the last 5 years</A> so basically, forget the last 5 years even happened. __________________

07-22-2002, 12:51 PM	#12
RW316 Confirmed User Join Date: Jun 2002 Posts: 1,103	true very true

07-22-2002, 12:56 PM	#13
Muffy Confirmed User Join Date: Apr 2001 Location: Toronto and Italy Posts: 494	I am in the market for a new house as well...so perhaps I will wait and see __________________ How Do I Measure Up? Need Something Written? I do press Releases, Articles, Websites, Marketing Materials, adult stories and more! Email [email protected] for more information

07-22-2002, 01:39 PM	#16
FlyingIguana aspiring banker Join Date: Mar 2002 Location: toronto Posts: 10,870	the economy isn't tanking. we're starting to see revenue thats beating expectations which is a good sign. but, investors are paranoid about the scandals which will keep stocks down. stocks have room to fall because p/e ratio isn't all that low, which surprised me when i seen it. no one can predict the bottom, so if you keep a long term outlook on your portfolio you can get into stocks now and be ready when the markets go up.