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barebull98
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1383
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10-23-2008 10:46 PM ET (US)
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I am thinking the C fund might test the magic 10 price soon.Just guessing.
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manOman
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1384
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10-24-2008 07:45 AM ET (US)
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bb98, good guess. LACOL (laughing & crying out loud).
This morning the US stock futures are down the LIMIT on the Dow - that's minus 550 points. The foreign markets are getting trashed. Not a pretty sight.
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manOman
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1385
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10-24-2008 04:20 PM ET (US)
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If my preliminary figures are right, the C fund will come in down 36 cents tonight, which would put the shares @ $10.065, so we just barely avoided closing below the magic $10 figure.
TGIF!!!!!
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| Tony
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1386
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10-26-2008 08:15 PM ET (US)
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Good luck to all of us this week. Love rollercoasters but sick of this one big time.
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manOman
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1387
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10-27-2008 07:33 AM ET (US)
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Right now it's looking as if we'll crash down through that $10 figure in the C fund today. Futures are down over 200 points & the Asian & European markets are taking big drops. Things COULD turn around, but some of the technical guys are looking at 7500 & even as low as 6000 on the Dow - ouch!
Meanwhile, the talk is that the Fed will cut rates again at this week's meeting. That used to give us a boost, but in this climate, who knows.
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barebull98
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1388
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10-27-2008 08:20 PM ET (US)
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$9.74 and change for the C fund.I didn't think I would ever see that.Guess it might be a good time to go in if you have a long term outlook.I will stay G as I don't have much time to wait.Good luck to all.
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manOman
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1389
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10-28-2008 05:02 PM ET (US)
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Well, the market was up fairly nicely all day, but right around 2:00 it LEVITATED, with the Dow up 889 points. I'm figuring with the huge gain in the S&P, the C fund will be up $1.05 tonight. That's a nice jump! It would put the C fund share back up to $10.79 or so.
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| barebull98
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1390
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10-29-2008 08:16 PM ET (US)
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I was expecting more upside after the 1/2 point cut.Oil doesn't want to stay down.I didn't really see capitulation Monday but that may have been the bottom.
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| manOman
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1391
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11-12-2008 07:44 PM ET (US)
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C fund back below $10 tonight @ $9.80.
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manOman
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1392
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11-17-2008 05:51 PM ET (US)
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Looks like the C fund probably sunk below $10 again - I'm figuring $9.78 for tonight.
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| sccarrier
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1393
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11-17-2008 06:03 PM ET (US)
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in my opinion, as long as the U.S. government continues to 'bail out' industries, the market will continue its swoon. Only hedge fund manipulation could cause this market to move upwards. No sane individual is going to jeopardize what they have (or have remaining) and gamble on stocks while the government 'guesses' as to what to do, when maybe, they should simply step aside, and let the chips fall as gravity and economic nature intends them to do.
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| barebull98
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1394
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11-19-2008 08:04 PM ET (US)
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A new low for the C fund.Hope no one went in too heavy.Never really saw capitulation but it looks like Chinese water torture.I noted that oil didn't go up even though the pirates seized a huge oil tanker.Looks like the oil market was manipulated when we had the high prices.
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manOman
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1395
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11-20-2008 05:08 PM ET (US)
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Edited by author 11-20-2008 05:11 PM
My guess on the C fund for tonight is $8.66. That would be a new low by far.
With the Dow at 7,550, and the S&P at 752, I'm wondering if we MAY have put in an intermediate low for now. I keep thinking the market can't go much lower, but then it does. I heard a nasty number on the unemployment claims today, and some economists are saying we may see 10% unemployment before this is over. I THINK the market is factoring in all the negatives at this point, and when it hits bottom, we could get a decent bounce, as I've heard there are Trillions of $$$ on the sidelines waiting to get back in.
We're going into tax loss selling season, and I'm wondering if that will put more pressure on stock prices until the end of the year.
btw, barebull's description of this market's action as Chinese water torture is a good one. Another might be death by a thousand cuts. I hope everyone is mostly in the G fund.
Good luck!
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gotmail
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1396
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11-20-2008 06:21 PM ET (US)
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I've been putting all new money in the C fund since I last posted and I'm biting the bullet and moving 30% into the C from the G. Even if we go down lower short term I'm willing to chance it. I'm a Buffett fan and I'm a buyer when everyone else is running (albeit in small increments). I thought 10,500 would be the bottom and here we are at 7550. Sigh. We'll have to see how it unfolds. I don't think this bottom can be called at this point. I think it's a matter of sleeping at night.
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| manOman
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1397
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11-21-2008 07:32 AM ET (US)
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gotmail, right now it looks as if we might get an snapback rally today. The futures are way up, and it is options expiration, so good luck to us - I'm only 10% in the stock funds right now, but have been trying to figure out when to jump back in. The Downs' site yesterday commented that Dow 6,000 was a possibility...
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manOman
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1398
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11-21-2008 06:40 PM ET (US)
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Edited by author 11-21-2008 06:40 PM
We got the bounce-back options expiration rally late today, and it looks like the C fund will be back up to almost $9.21 tonight.
The pattern for the last several moves has been for the market to drop, then drop some more, then drop more, then go up, then drop back. In other words, it looks like "they" are selling into any rally. That would mean the key to a turnaround would be a rally that is NOT followed by a drop back. We keep getting a barrage of bad news, and the market reacts with a drop, so if we get some more bad news, and the market DOESN'T drop, that would be a good sign too.
I heard that part of today's move up was in reaction to Obama's naming of his choice for Treasury Secretary. I also heard that part of YESTERDAY'S big drop was due to Citicorp hitting the skids, so it looks as if the banks are still having fallout from the financial FUBAR.
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