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Automotive News & Views Are car stocks driving you out of the market?
28 messages, Last post on Oct 17, 2008 at 4:12 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Stocks took a dive as well they should. After too many months hovering above real values, the market is finally getting real. Educated and experienced players are starting to prepare for some "buys", but they are not ready to take advantage until the market falls more. Those financially sound companies will be rewarded with additional investment income, but sadly, most of those companies are overseas. Look beyond your nose for some really good buys after the election of McCain.
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Replying to: euphonium (Sep 29, 2008 1:26 pm) My day trader friend said last week that the DOW would fall 2500 to 3,000 points. He's about 1/3rd of the way there. Lots of good buying ops, Maybe I'll load up on my margin. Congress will surely bail me out if it doesn't work out. 
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Replying to: steve_ (Sep 29, 2008 2:17 pm) Fat Chance Dude!!! My 401K went down about $10 per point today. I am thankful I don't need it to live on. My neighbor that buys and sells old cars is doing good in the car market. Bought and sold a 1957 Chevy 2 door over the weekend. He is happy when he makes a couple grand. Bought an ugly 1964 Chrysler Newport for $600. Real straight body. Says he will have it running and on Craigslist tomorrow. He is real worried about his 401K. |
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Replying to: steve_ (Sep 29, 2008 2:17 pm) " I'm over-weight off-shore as it is. My day trader friend said last week that the DOW would fall 2500 to 3,000 points. He's about 1/3rd of the way there. Lots of good buying ops, Maybe I'll load up on my margin. Congress will surely bail me out if it doesn't work out. " Steve, tell your friend be careful of what he wishes, cyclical bear vs secular bear really bites. Margin is a sword that cuts twice but good luck. tia.
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Replying to: duke23 (Sep 29, 2008 7:19 pm) Ford is at a yearly low. Buy? Ditto GM. Buy? Cerberus has Chrysler. Also GMAC. Also an airline (Air Canada). Will they be jumping out of the windows this week? Foreign investments were mentioned - South Korea is down almost 4%. Buy Hyundai? Toyota is down almost 5% today. Buy? The other option is to take the spare tire out of the Chevy, stuff it with cash and bury it in the backyard. 
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Replying to: steve_ (Sep 29, 2008 7:29 pm) |
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Replying to: gagrice (Sep 30, 2008 6:21 am) This very thing happened to me when K-mart went bankrupt a few years back.
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Replying to: gagrice (Sep 30, 2008 6:21 am) Risky business. Of course, if you had taken a flier on Ford or GM yesterday, you'd be up 8% today already. Tomorrow you could lose it all. If you think the companies are going to survive, now may be a good time to start buying on a dollar cost averaging plan. |
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Replying to: andre1969 (Sep 30, 2008 6:31 am) It happened to me with Excelsior Henderson motorcycles. I was sure they would compete with Harley. They were so much better. No such luck. When they went bankrupt they owed money. Local dealer took parts for some of his investment. I thought if GM liquidated all their properties the stockholders would be inline for some of that. Is that what they call par value? Or is that only for preferred stock?
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