OT: Stock Market 1/7 Bad News

[clob94]

China is just kicking us in the teeth today.

 

[Top Gum]

There is no bad news, there is only news. If you have a plan in place you can take advantage of any situation that happens.

Exactly

 

[oldhorn2]

Then I guess today they are selling on the news.....

 

[elcapitan009]

Elcapitan-- I went to a board meeting yesterday in Houston for an O&G engineering firm based in the Woodlands that I serve at the pleasure of the board for, and after they showed me the end of the year P&L's one of the other board members who owns a huge construction company in Houston made mention of what you're talking about. He said they were 6-12 months away from the Houston housing market just tanking.

i need to be your friend... my networking skills are solid but my interest in it is faint.

also, you can help me get my bench up (i'm assuming)

 

[clob94]

i need to be your friend... my networking skills are solid but my interest in it is faint.

also, you can help me get my bench up (i'm assuming)

Ha! PM MM and he'll send you my email addy.

 

[4MNChampsHorn]

AT&T has a tasty 6% dividend. That's looking really good right now.

 

[clob94]

I'm waiting to see what the REAL numbers coming out of Iran insofar as their oil production capabilities are now. They say 9 million barrels a day. Saudi says 1 million. If it is 9 million (saudi produces 10.1 mil a day) we could be looking at 20-25$ oil. Gird thy loins.

 

[4MNChampsHorn]

The market will go down another 5-10% on that commodity price movement. China is consuming less oil as their has economy slowed down.

 

[4MNChampsHorn]

I just saw a picture posted of a Shell gas station in Houston, regular unleaded is $0.99/gallon!

 

[4MNChampsHorn]

Many small companies are about to go out of business, followed by the small banks that hold their unpaid loans.

 

[clob94]

Well, Iran says that they will immediately bounce exports by 500k barrels a day from 2.25m a day to 2.75m a day. Since they haven't updated their equipment in some time, it will take roughly 10 months to get everything running up to snuff and by then their production will be right at 5 million barrels a day.

It's about to get ugly in many cities in Texas. Odessa, Midland, Houston, San Antonio, Corpus.......

 

[diadevic]

Clob - who are we to believe? I see your analysis about Iran, and it makes total sense. And I've heard the exact same thing a hundred times in the last month. On the flip side - there's a guy on CNBC this morning who says the Iran glut is "already priced into the market." He predicted stability with a slight rise in the next year. Which, again, makes sense since we know the Iran supply is coming. I guess I should just sit on the sidelines and take my .5% CD rate. Ugh.

 

[Son of Wasatch]

Honestly, the best place to put your money when sitting on the sideline is if you have a whole life policy. Stick it there. you can get anywhere from 2% to 5% return. And you can take it out at anytime. It's actually nothing more than a savings account with a death benefit.

If you don't know, it is where most banks and corporations keep their cash.