Re: Bummer... Ohio's Xploited Cinema will be closing over the coming months

We should vote on who the moderators should be. I agree that the posts are getting offensive. My Kids look at the computer with me sometimes when I come to this site!

Skyhawk
you seem knowledgeable on the subject of internet and IP addresses and moderating ect ect so you got my vote for moderator!
Tim also has my vote!

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[Post edited by Ironbull on Jul 8, 2008]

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Skyhawk
you seem knowledgeable on the subject of internet and IP addresses and moderating ect ect so you got my vote for moderator!
Tim also has my vote!

If Henning ever asked me too, I'd help him out in a heart beat and it would be out of respect for Henning and his site which I have loved for years. However, Henning likes to run things his way and he believes very strongly in freedom of speech and expression, which I also respect about him. Nevertheless, the site does need a couple moderators to control issues that arise from time to time.

Look, I don't think the occasional argument or the fact that Eddie and Skyhawk don't see eye-to-eye is a problem, etc, but sick and racist behavior from any troll is crossing the line. There is a reason why many public establishments have a sign posted that says "We hold the right to refuse service to anyone". I'm not saying the site needs to be some stuffy members only club but there does need to be some kind of control when someone has gone too far, that's all.

I think a good rule of thumb is that when Tim thinks someone has gone too far, they have definitely gone too far.

well, let's ban chris, even though he writes reviews for this site.

^ LOL!

LMAO!!! ^^

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Problem is, you have to avoid the ones that are going to go busto. And even companies as big as WAMU could be shutting their doors before this is all over.

Buying cheap is nice, but never ever try to catch the bottom.

As I said, if American blue chips that form the country's (and world's) financial backbone go out of business, then losing a lot of money on a stock that declares chapter 11 will be the last of your problems. Stay away from urban areas and arm yourself well.

That being said, there is a difference between "cheap" and "no-brainers". GM is cheap (along with other American car makers), but I certainly wouldn't advise anyone to buy into this sector at this time - especially GM or Ford, since that's more like playing dice.

But when everyone has abandoned entire sectors (like financials) and is most bearish, that's the time for one to pick out the best few candidates among them and start nibbling. 20 years ago I learned this strategy was much better than chasing other people's money with your money. Back in 1999, I would have never bought into one of those "popular" tech stocks. It's a very bad sign when everyone, even your grandma, is excited about a sector. Instead, I was nibbling on companies like POT, ENB, IMO, MFC etc. heck... even GIL (yes, t-shirts!). Everyone hated everything except tech. And everyone was teasing me about sticking with companies that paid 12% dividends per year and actually made profits. I used to co-manage an investment club here for "fun", and it was this disagreement that led to me quitting.

Since I don't day trade, finding the "bottom" doesn't concern me. I've owned some stocks for over 15 years - adjusting my weight in them as the years pass by. Which reminds me, I should sell a few more resource based companies (oil, mining, etc.) and buy some more PG and L! Toothpaste & food is always a good choice when no one seems to like them anymore.

How comfortable is that chair Eddie? It looks very, very, VERY comfortable...

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As I said, if American blue chips that form the country's (and world's) financial backbone go out of business, then losing a lot of money on a stock that declares chapter 11 will be the last of your problems. Stay away from urban areas and arm yourself well.

As the JPMOrgan CEO just said, Nobody is too big to go under.

Bear Stearns was all but wiped out overnight.

Certainly, not all of the major financials are going to go under, but some will. And don't think for a second BAC or C couldn't be one of them plus those dividend yields being listed on the quotes are completely fabricated (sure I'd buy BAC is it was really paying 12% but that's not gonna hold). As usually happens in these wealth destruction scenarios, consolidation occurs and a few companies come out as juggernauts. My wild ass guess: WFC comes out of this smelling like a rose. But nobody really knows. The best time to buy will probably be after we've had a few more major failures. There has been so sign of panic in financials yet, just a slow steady grinding decline. Look for the massive blowoff lows - monster volume on days when the stock is down massively and then finishes up. That'll be the beginning of the end of the downturn.

I remember being told what great values the financials were when they were about twice as high as they are now. Stocks often go further than you think they will, either up or down.

For me the best way to make money in the stock market has always been buy high, sell higher. But that only works in a bull market. In the bear market cycle, I just hunker down and wait. Well, that and hold onto anything that's still performing well.