Stocks Plunge 634 Points 6th Worst Dow Day On Record

  • August 9, 2011
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Stocks Plunge 634 Points 6th Worst Dow Day On Record

The Dow plunged 634 points today making this the 6th worst day on record. Here are the 10 worst days on record.

10. August 4, 2011: -513 Points

9. October 22, 2008: -514 Points

8. October 27, 1997: -554 Points

7. August 8, 2011: -634 Points

6. April 14, 2000: -618 Points

5. October 9, 2008: -679 Points

4. December 1, 2008: -680 Points

3. September 17, 2001: -685 Points

2. October 15, 2008: -733 Points

1. September 29, 2008 -778 Points

Moral of the story… for the past 20 years investing in the stock market has been one of the worst ideas ever almost as bad as investing in real estate. The gold nuts were right. If you invested in gold over the same period you would have been better off. Seems like in real estate, stocks, and most likely gold market timing is everything. Buy and hold strategy has been proven wrong.

Virus on my blog and stock market (I call bottom)… random thougts

So a couple days ago my blog was infected with a virus. For the past couple days I’ve been wasting my time trying to fix this issue. I’m getting close… my hosting company is looking into this for me. I’ve worked around the clock trying to get ride of this annoyance… what a waste of time. Also, the stock market as I’m sure you know went down 678 or more than 7%. It’s dropped so much recently it has almost become like a sick joke. How does the stock market go from its high of 14,164.53 exactly a year ago to where it is now 8,579.19, or 39.4% drop? How could the market be so overvalued and companies so incompetent? I’m going out on a limb here and calling a bottom at this point. Unless the whole US economy collapses I don’t think it can go down any further. Housing is up here in Seattle and around the country singling a bottom, stocks are trading at about 15x earnings which is the historical average, interest rates are low, IBM beat expectations today, and the tax payers just injected almost a trillion dollars into the economy. Once again I’m in this for the long haul, 10 years plus, I call the bottom today.

Down Jones Industrial Average Chart Since Oct. 1st 1928

Noooo! Not again Dow drops over 500 points today! Things are looking grim right now. Your house is worth less than when you bought it, gas prices at the pump are still at an all time high, food prices are rising, and on top of that the stock market is crashing. It’s time for some perspective. Take a look at a chart of the stock market since October 1st 1928. The current credit crisis is nothing more than a small blip on the radar screen.

Dow Falls 777 Points Biggest 1 Day Lose Ever

  • September 29, 2008
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  • Comments Off on Dow Falls 777 Points Biggest 1 Day Lose Ever

CashSherpa.com, my blog, is all about saving money. With the DOW falling like a stone today and possibly in the near future until the 700 billion dollar bailout package goes through. Saving money makes more sense than ever until things settle down. The Jewish holiday of Rosh Hashana is Tuesday so may be we will get another vote on the bailout package Wednesday, but no one knows for sure. Republicans blame Pelosi for making a speech that was viewed as too partisan prior to the vote. In a time like this partisanship doesn’t make sense, we need leadership not politics.

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