Are we headed for an epic bear market?

[SHELLY]

Xom is down $20 in 2 days !!!!!

I thought of TooFarTampa and her Mom's XOM and our discussion in May when it was trading in the 90s:

SoWal Beaches Forum - View Single Post - Oil a Classic Bubble, Detached From Reality, Like Houses, Dotcoms, and Tulip Bulbs

(TFT...did her position stop out?)

 

[AAbsolute]

I think we are at the bottom today. Xom is down $20 in 2 days !!!!! Total capitulation the last two trading sessions. I will see you tomorrow at the Green.

Would you believe XOM will be up 10% by next Friday? 10/10 to 10/17

 

[goofer]

I'll admit, we're closer to the bottom than the last time you called the bottom.

.

Why are you such a jackass ????

 

[elgordoboy]

Why are you such a jackass ????

I thought y'all were getting along?

 

[goofer]

I thought of TooFarTampa and her Mom's XOM and our discussion in May when it was trading in the 90s:

http://sowal.com/bb/showpost.php?p=413585&postcount=28

(TFT...did her position stop out?)

Shelly, do you really care about TFT's mom ? Or is your schadenfreude acting up again. You should really see a psychiatrist.

 

[SHELLY]

I thought y'all were getting along?

We are, in an ambivalent sort of way.

.

 

[SHELLY]

Shelly, do you really care about TFT's mom ?

Yeah, actually I do.

I think TFT had mom take some XOM off the table and then hooked her up with a trailing stop--I hope it worked out for her. TFT was on the right track by asking questions when the energy market was wild and wooly and did her mom a service by being the voice of reason.

.

 

[Miss Kitty]

Yeah, actually I do.

I think TFT had mom take some XOM off the table and then hooked her up with a trailing stop--I hope it worked out for her. TFT was on the right track by asking questions when the energy market was wild and wooly and did her mom a service by being the voice of reason.

.

I remember that discussion. I'll be interested to hear what TFT's mom did. I didn't touch mine...haven't touched it in 54 years.

 

[AAbsolute]

Would you believe XOM will be up 10% by next Friday? 10/10 to 10/17

Goofer44,

You know I am somewhat of an apprentice of yours. Can I get a little credit for my XOM pick from last Friday?

XOM 10/10 to 10/14 Market open up 20%.

 

[TheSheep]

Do you guys see how much of this crisis is driven by psychology versus fundamentals? People are panicking. Nothing good ever comes of that.

Back in them thar days of double digit inflation and Iran Contrafied kidnappings, a very bright man spake about the effect of the psychology of inflation. His name was ZBlkjcAo BSrsiyfgholsdkgs or something like that. Lotsa end-of-alphabet letters, very guttural. Nonetheless, I believed he was spot on as I do your statement above.

The underlying assets (stocks and homes) are not worthless. The value of the homes will never drop to anywhere close to zero. The problem is that there is fear about the immediate future and everyone wants to hoard what they have rather than take a chance on buying anything. So the market value of the asset drops because the sellers are desperate to sell but no one is keen on buying. This will eventually pass.

My, you are on an intellectual roll, please continue.

I'm not saying there is no crisis. Far from it. I think we will probably experience a serious recession......But if we figure out ways to stay productive, we can avoid the worst of it. Adapt to the new environment, learn from our mistakes, and on the other side of this we will all be better for it.

Yazzir, they fraudsters will have to come up with new way to milk the constituents tax givings, we ain't a gonna be doin' no more 100% financings to thems Mexicano green card carriers. <spit>