This is why people aren't buying

[calibremagic]

the tech bubble back on 00 - 02 was different.

dot com companies back then were worthless companies making zero money and heavily in debt.

 

[Allen3]

Quote from calibremagic:

the tech bubble back on 00 - 02 was different.

dot com companies back then were worthless companies making zero money and heavily in debt.

And GM is different how???

 

[calibremagic]

well If GM and Ford is your only focus, then ya it's no different.

but who wants GM or Ford ? dead money for a long time to come.

Quote from Allen3:

And GM is different how???

 

[AMT4SWA]

Quote from CaptainObvious:

the Internet ain't going away, this is a great long term investment.

Well lets hope so......do some research on the ALREADY written "iPatriot" bill which is just waiting in the wings for a "i9/11" false flag op. If this ever gets passed, the internet will be very different from what we have now......unfortunately.

 

[gnome]

Even after this week, the P/E on the SP500 is still about 16x.

Expectations are for "E" to fall significantly further... and for the multiple to contract.

If earnings drop to $30, and the P/E drops to 10, = Dow <3000.

 

[mgabriel01]

Quote from calibremagic:

the tech bubble back on 00 - 02 was different.

dot com companies back then were worthless companies making zero money and heavily in debt.

Exactly!
Like Cisco, which went from 80 to about 11 in 18 months
they still dont make anything at all - they just advertise

 

[NoProblem]

Quote from mgabriel01:

Exactly!
Like Cisco, which went from 80 to about 11 in 18 months
they still dont make anything at all - they just advertise

You mean there's a company attached to that stock?

 

[daniel33]

Personally, I'm not buying anything until the US turns this fiasco around and the technicals show the market is bullish.

I don't need to buy the absolute low to feel confident.

Daniel

 

[Allen3]

Quote from daniel33:

Personally, I'm not buying anything until the US turns this fiasco around and the technicals show the market is bullish.

I don't need to buy the absolute low to feel confident.

Daniel

Bingo!

We have no idea what companies will be left standing so why jump the gun. I won't be on forward earnings estimates. PE's can be wrong. Price action is price action. If it goes down that's the way. If we turn around and start breaking ground on a bull, that's the way.

 

[CaptainObvious]

Quote from CaptainObvious:

I just watched another talking head on CNBC saying what a great buying opportunity some stocks are. He was referring to GOOG, saying that it being so far off it's high of 700+ not that long ago, it's a steal at under 400.
That was exactly my line of thought back in 2000. One specific stock was YHOO. It had fallen considerably from it's high a couple months earlier. I'm figuring YHOO is a major player, the Internet ain't going away, this is a great long term investment. The chart will show where I was buying and where I finally dumped.
The point of all this is, had I held I'd still be underwater 8 f'n years later. GOOG may look like a steal, but is it. I'm guessing many people like myself are thinking, not only will GOOG never see 700 again, it may drop another 50% from here.
Just my rambling thoughts in this crazy market.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2118206

And one month later GOOG is a "steal" under 300. The market action just confirms my point. Ain't no buyers, let alone investors.