Is the stock market going to tank?

[Moeghoul]

I did some bottom feeding in the miners today.

[Benny Profane]

http://seekingalpha.com/article/3069...ll-ride-begins

[SkiCougar]

http://seekingalpha.com/article/3069...ll-ride-begins

Yep. It's coming.

I had a financial advisor who newletter i take just email me and tell me its time to buy in(and pay his fees).

I think i'm going to reply back with shipping now at 2008 crisis lows, holiday employment forecasted as less than last year, a chart showing everyone in europe and china trending into a recession, china housing market about to fall off a cliff and US foreclosures are up and ask him which sector he expects a good stock market to start up in.

[Benny Profane]

Speaking of financial advisors, did anyone catch this pathetic thing yesterday?

http://www.nytimes.com/2011/11/09/bu...ef=todayspaper

" My income fell about 20 percent because my take-home pay depended on the amount of money I managed."

Remember that little ditty when someone does a sales spiel over your hard earned money.

[liv2ski]

http://beta.finance.yahoo.com/news/y...024014390.html

Read the comments. Refreshing. Maybe the supply of sheeple longs will dry up but that's a good thing long-term imo

Seems like there were no long takers. The contrarian in 4matic says "bullish for the markets". I liked all the Ponzi comments and ones like this: "a 30 yr old that puts 75% of his portfolio in an index fund will find he looses 40% of his portfolio in the very near future!"

[JimmyCarter]

Speaking of financial advisors, did anyone catch this pathetic thing yesterday?

http://www.nytimes.com/2011/11/09/bu...ef=todayspaper

NYT is using the "pro" title rather loosely it seems.

[ass-to-mouth]

http://www.nytimes.com/2011/11/09/bu...ef=todayspaper

Somehow, even in that horrid market, we sold the home for $531,000. That was in late August 2010. In exchange, the lender released us from both our first and second mortgages.

He'll rent for 18-24 months then buy another place no problem. God bless America.

[JimmyCarter]

He'll rent for 18-24 months then buy another place no problem. God bless America.

I hope he gave the buyer a copy of his new book for future reference.

[Benny Profane]

He'll rent for 18-24 months then buy another place no problem. God bless America.

He'll buy a new MacMansion with the proceeds from his book and speaking tour.

[ass-to-mouth]

He'll buy a new MacMansion with the proceeds from his book and speaking tour.

He won't have to. He'll be able to get a mortgage no problem. Save the cash for ATVs and European vacations.

[ass-to-mouth]

Another gem:

Like most financial stories, this one is personal. It starts with me getting into the financial services industry more or less by accident. I answered an ad in 1995 that I thought was for a job related to “security” (as in security guard) but was in fact related to “securities.” That’s how little I knew about the stock market. A few months later I found myself working a phone at a Fidelity Investments call center.

LOL...dood thought he was applying for a job as a security guard.

Those who can do. Those who can't become financial advisors.

[Benny Profane]

Read the comments. This article has done a lot of damage to the financial advise industry.

[4matic]

Dax up 3.5%. SP500 above 1250 pivot. Russell 2000 up 3%. Small and mid cap looking good.

Too bad we didn't get back to 1200 SPX for another entry point.

[Moeghoul]

Seems like the market wants to go higher but caps out at this level. I'm thinking we need a further drop in the USD to get higher. that may happen if they drop the Euro (unlikely), underpin the Euro with gold (possible) or drop the weak hands in the EU and give them a Euro Lite or let them print their own money.

[4matic]

Seems like the market wants to go higher but caps out at this level. I'm thinking we need a further drop in the USD to get higher. that may happen if they drop the Euro (unlikely), underpin the Euro with gold (possible) or drop the weak hands in the EU and give them a Euro Lite or let them print their own money.

Italy is one of the worlds largest holders of gold.

[AdironRider]

Read the comments. This article has done a lot of damage to the financial advise industry.

Maybe for know it alls like you and me, but for the average joe out there without a damn clue, they still serve a purpose.

My parents guy takes about 1%, and does everything they ask of him, and gives (what I feel) are pretty average returns. However, in their case its a perfect scenario as hes honest and doesnt sugarcoat. Gives advice, but still lets my rents make the calls. Doesnt pressure one way or another.

The problem is youre looking at him as how much does he make on an hourly basis, which is a pointless exercise as that will always lead to worse money management in this field.

[Moeghoul]

Italy is one of the worlds largest holders of gold.

Yep, most likely tucked away in the NY fed vaults along with Germany and a few others.

[Benny Profane]

Maybe for know it alls like you and me, but for the average joe out there without a damn clue, they still serve a purpose.

My parents guy takes about 1%, and does everything they ask of him, and gives (what I feel) are pretty average returns. However, in their case its a perfect scenario as hes honest and doesnt sugarcoat. Gives advice, but still lets my rents make the calls. Doesnt pressure one way or another.

The problem is youre looking at him as how much does he make on an hourly basis, which is a pointless exercise as that will always lead to worse money management in this field.

Not really. I'm looking at the total cost, which, at 1% over a long period adds up. Besides, what makes him so smart? If he had some inside knowledge, I'd pay him 10%, otherwise, I'll do it myself.

[iceman]

heh, like business school professors. If they're so smart about business...

[Toadman]

Speaking of financial advisors, did anyone catch this pathetic thing yesterday?

http://www.nytimes.com/2011/11/09/bu...ef=todayspaper

" My income fell about 20 percent because my take-home pay depended on the amount of money I managed."

Remember that little ditty when someone does a sales spiel over your hard earned money.

I suspect there are thousands of Financial planners like this guy out there.

[LeeLau]

Sold LULU - looking at how NFLX got eviscerated reminded me of what happened when fad stocks are undressed.

Covered GRPN. Not that it matters much but IB has lots of borrows and at quite a bit less than the 100% mentioned in initial news stories.

A tip of the hat to Groupon's first mention in the thread

Whens the Social web bubble going to burst? $900 million round for Groupon? Groupon!

[LeeLau]

http://www.businessinsider.com/amr-c...ruptcy-2011-11

American Airlines declares bankruptcy. Down 75%. Clearly a Strong Buy opportunity

[4matic]

Clearly a Strong Buy opportunity

UAL up 7% and JBLU up 8%.

[ICEHOCEY77]

http://www.businessinsider.com/amr-c...ruptcy-2011-11

American Airlines declares bankruptcy. Down 75%. Clearly a Strong Buy opportunity

uhhh, not sure if you are serious.....

[Rubicon]

uhhh, not sure if you are serious.....

He is. He's also likely right. This bankruptcy will make AA more competitive, should be good for them in the long run.