Out of the Market?

[southern151]

Originally Posted by ckinchen

I have not advised you are anyone to buy into this market right now. Rearding the site, what I paid for it is play money for me but for the record my reveue is up 150% since i bought it.

I gotta admit, I thought it was funny, what Dink had to say. While you may be up by 150%, how's the sanity holding up?!

[Dink]

Sometimes he's a touchy chicken.....o think he'll lighten up after he meets me.....

[Salty]

Originally Posted by southern151

I gotta admit, I thought it was funny, what Dink had to say. While you may be up by 150%, how's the sanity holding up?!

It'll be down 800-1000% by the end of football season.

[Dink]

Originally Posted by Salty

It'll be down 800-1000% by the end of football season.

You can always be counted on to deliver when it comes to that!!

["W"]

Well could not wait....bought LNG 7.80...

[yak'em-n-stack'em]

I think I'm gonna watch it close Monday and buy. I need to get a little cushion to get started

[Dink]

I'd go e it more time than That yak. But watch it close

[Zachary Boy]

Now that S & P lowered our credit rating, get ready for another wild ride Monday. I feel like I'm on the Titanic with no lifeboat...

[yak'em-n-stack'em]

Welcome to America

[ckinchen]

Originally Posted by Zachary Boy

Now that S & P lowered our credit rating, get ready for another wild ride Monday. I feel like I'm on the Titanic with no lifeboat...

Yep and I just bought another 2,500 shares of KOG on Friday, should have waited.

[ShadMan]

It's gonna be a while until I get back in. Until I see some leadership in the market (e.g. companies buying their own stock back while the market's low, the big investors buying up value stocks, etc.) I'm not going to be throwing my money back in. The people in the know understand that the market is going to be extremely volatile over the next few months and they are sitting on the sidelines. There is a good opportunity right now for those willing to take big risks, but I'm not a huge risk taker. I prefer 20% gains year over year to 20% gains one day followed by 40% losses the next.

[simplepeddler]

Yes it is going to be tough..........BUT if you have lived financially responsible to this point with very low debt to earnings (no credit card debt) then this is going to be a bee sting to you.

If on the other hand you are living out side of your means, the well, this may roll the hull for you.

You must first honor what is given to you to receive more, call it what you will, but it's the truth.

those that have been honoring the blessings given to them this far will have an opportunity to increase in this gulley we are going to be in.

[southern151]

Well, I've got a few k left on a credit card. Sounds like I better go ahead and knock it out. The only reason I haven't now is, I was waiting to find out about another purchase for the shop. Figured I'd leave a little in the bank in case it came through. Guess that mentality is one that could cause some problems though. With the threat of rising interest rates, I think I'll go ahead and knock it out.

Those of you in the know agree?

["W"]

The economy is not in that bad of shape as the market reflects.......I will stick to the Market because just like 2008 when it tanked ....I bought and make serious money coming back up........

[simplepeddler]

Originally Posted by southern151

Well, I've got a few k left on a credit card. Sounds like I better go ahead and knock it out. The only reason I haven't now is, I was waiting to find out about another purchase for the shop. Figured I'd leave a little in the bank in case it came through. Guess that mentality is one that could cause some problems though. With the threat of rising interest rates, I think I'll go ahead and knock it out.

Those of you in the know agree?

You are find man, just watch they don't go up on you rate.......
I'm talking 25K and up........I know of guys with 60-100K in credit card debt.
It's not as hard to do as you think. I was there once myself, God only knows where I would be if what is happening now had happened then.

["W"]

100K on a credit card???? Highest balance I think I ever had was 2500 in my life.... I bet they pay 300 month in interest and fees on 100K

[fishinpox]

I know dudes with almost 200k on the AMEX!! And it's nit paid off every month 24.99% !!!!! some people!!

["W"]

If you have that much credit card debt...you just can't manage your money and live way outside your means..............you CC should be paid off every month...I charge everything on my pay pal CC...gas,food,groceries and odds and ends...pay off every month and get cash back..free money....just cashed in 250 dollars this week ...

[ShadMan]

Originally Posted by "W"

100K on a credit card???? Highest balance I think I ever had was 2500 in my life.... I bet they pay 300 month in interest and fees on 100K

It would be much higher than that. You'd pay around $800-$900/month in interest on a $100k credit card balance. I've used credit cards to fund large purchases before rather than paying cash so my cash could be leveraged in other ways. I had well over $100k at one point on one of my cards, but was able to pay it off in a few months and made around $40k off of it (essentially investing on margin ). I also charge everything on my AMEX (including paying many of my bills with it) and pay it off at the end of the month. My AMEX bill is typically $4k-$5k each month, but I rack up frequent flyer miles like crazy. I put a $350 dinner on it tonight and I'll get 350 miles for it. Why pay cash when there is no interest charge and you get miles?

The people who get in trouble are the ones who live beyond their means and rely on putting $1k or more on their cards each month just to get by. That gets out of control very quickly. I've seen some good people get in way over their heads that way.

[ckinchen]

Originally Posted by ShadMan

It would be much higher than that. You'd pay around $800-$900/month in interest on a $100k credit card balance. I've used credit cards to fund large purchases before rather than paying cash so my cash could be leveraged in other ways. I had well over $100k at one point on one of my cards, but was able to pay it off in a few months and made around $40k off of it (essentially investing on margin ). I also charge everything on my AMEX (including paying many of my bills with it) and pay it off at the end of the month. My AMEX bill is typically $4k-$5k each month, but I rack up frequent flyer miles like crazy. I put a $350 dinner on it tonight and I'll get 350 miles for it. Why pay cash when there is no interest charge and you get miles?

The people who get in trouble are the ones who live beyond their means and rely on putting $1k or more on their cards each month just to get by. That gets out of control very quickly. I've seen some good people get in way over their heads that way.

$350, where did you go? I took my boys to the Steam Boat Steak House over on the beltway tonight, I love that place. Our firm has our Christmas party there every year.

Ok, sorry, carry on.