Today 10/24/2008 is it. The mother of all selloffs

[MKTrader]

And if not, what will you do? Admit you were wrong? Keep trying to short at Dow 10,000?

It would be nice if we had more accountability for the "predictors" around here.

Quote from Cariocas:

As I mentioned in various other posts, we ain't seen the bottom yet. This accelerated move down will slow down then a long trickle down over next few years will take out all the small traders (elite type). Small trading ranges coupled w/low volatility won't provide anyone w/a decent living even w/the best systems. Watch and learn from history. Dow target is 5500-6200 area.

 

[MKTrader]

Yeah, and if you have a relatively new IRA (maybe Coverdell for kids), you have many years to keep adding funds and buying lower...if it goes lower. Even in the Great Depression you'd come out ahead doing that. I'm not a big fan of dollar cost averaging, but if you start at a relative low point, it can make sense.

Quote from S2007S:

I hate saying this but if you are long long term investor, 10 years or more buying on the dip like today may be the way to go, I have my IRA thats about 60% cash that I will be putting to work today, slowly buying on the way down, you cant time the bottom, but I think by the time I retire the DOW should be north of 20k.