WOW! What the Dow did today!

[fabsroman]

Originally Posted by Adam Helmer

I have some new money to (perhaps) invest in the stock market. I got out in October 2008 when the Dow was 14,000+ and dropped thereafter to 5,800. It went up to 11,000 and at noon today I chatted with my broker. He gave me his "dog and pony show" and I said, "I will get back to you."

I came home and turned on the financial channel at 2:30 p.m. I saw the Dow in FREE FALL to -998.50! It went BELOW 10,000. Well, I am not real sure the stock market is where I want to put my money.

I was amused when the Market "Damage Control" Folks came on and said, "It was a market transaction error." I am glad I am retired and my pension checks are NOT predicated on the stock market. I am glad the TARP stuff and renewed Financial Oversight by the Gummint is DOING SO WELL! We saw that IN ACTION today!

Adam

You were either very lucky, very smart, or a combination of the two if you got out in October 2008. Me, I just cranked up the investment amount in spring 2009 and now we are $40,000 ahead of where we were in spring 2009. Granted, we put $40,000 more in the retirement accounts, so essentially we are at a break even from the big plunge to 6,700. We are investing long term, so we are going to continue to plug the money into the retirement accounts and hope for the best.