How low can you go?

Discussion in 'Finance, Property, Law' started by in_the_cheapseats, Sep 29, 2008.

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  1. in_the_cheapseats

    in_the_cheapseats LE Moderator

    Some time a go I made a brave statement that the markets low would be 4700.

    See here

    I'm kind of worried no-one else has set any other targets for me to argue against.

    Tonight the market closed at 4818 and the vote (currently) has gone against the US bail out plan.

    To nail my colours to the mast, can I suggest two numbers to the esteemed members of this site?

    If the vote turns Yes - tomorrow 5500

    If the vote turns No - 4200 (oh and I lose a great deal of money as RBS goes S BTW - not a happy fact :cry: )

    We have a couple of hours to argue the toss.

    In terms of politics,that's a biggggggggg swing. Trouble is I'm not even sure if the numbers are enough

    Yours terrifiedly.

    ITC

    PS Any other guesses/informed estimates/fingers in the wind???

    PPS Vasco is the smart man in this.
     
  2. If vote is no then I fear you may have been conservative with 4200, it could get significantly worse - under 4000 would be my bet - probably right with the 5500 though. Of course that's my rather uninformed guess but then again I wouldn't be the first to have a wrong opinion of the markets.
     
  3. House votes down bail-out package

    The vote followed hours of fraught debate in the House
    The lower house of the US Congress has voted down a $700bn (£380bn) plan aimed at bailing out Wall Street.

    The rescue plan, a result of tense talks between the government and lawmakers, was rejected by 228 to 205 votes in the House of Representatives.

    http://news.bbc.co.uk/1/hi/business/7641733.stm
     
  4. I was right - I've lost a fair few thousand quid but this morning I have been proved right so I can at least smile whilst I eat cold beans out of the tin and make the 14th cup of tea with the same bag.

    Seriously though, if anyone is actually reasonably informed on this issue what on earth can I do to protect my money? Cut my losses and invest in bricks and mortar? At least I'll end up with something? I am geniunely at a loss here!

    Yours searchingly,

    Alf