Dow 5000/Nasdaq 750

[HG Pennypacker]

Believe it!!

It will be true!!

HGP

 

[beastboy]

If it does hit that low what would be some good buys?

 

[HG Pennypacker]

If it does hit that low what would be some good buys?

If you're buying for the long term, just buy blue chip companies with good earnings histories whose prices have diminished due to the overall effects of the market and economy.

The prime companies would be ones with a lot of cash and very little debt. I'm more of a trader and I don't have a long term portfolio right now, except for my 401K. If I were going to start of long term portfolio for Pennypacker Jr, I would probably start with these stocks:

IBM, GE, MSFT, DELL, MMM, PFE, DUK, VZ, KO, GM, XOM.

The Dow index is based completely on price. MMM and PG are the highest priced stocks in the index. If 3M falls under 100 and Proctor & Gamble falls under 80, look out below.

 

[WODIN]

You know... I didn't believe you when you said 7500 but now I think you might be right.

FYI --- Mortgage forclosures hit 1.3 % this month. Highest rate ever. Shit is about to hit the big fan.

 

[HG Pennypacker]

You know... I didn't believe you when you said 7500 but now I think you might be right.

FYI --- Mortgage forclosures hit 1.3 % this month. Highest rate ever. Shit is about to hit the big fan.

I want it to keep going lower. I have a shitload of put options right now: INTC, ORCL, NOK, CVS, TREE, EXPE, JPM, BAX.

Let is keep going down and down and down baby.

When the indexes hit those low marks (probably around 5000 and 750), it's time to scoop up bargains and get rich.