Dow hits 10k. What's next.

NYC or NYC real estate? Or both?

Probably will go down and then up and then down and then up.

But clearly if it goes above 14,000 it's a great time to buy real estate, because the two are obviously so correlated.

> Probably will go down and then up and then down and then up.

I think you nailed it.

"I think it does for a bit, then bounces up... and sits there for a while"

Now if the market goes up, goes down or stays flat you can come back later and say that you predicted it, just like everything else you claim, in your tedious, tiresome fashion, to have called. Brilliant!

What's next?

More layoffs.

It's become painfully obvious that what's good for Wall Street is disastrous for people who work for a living.

tomorrow has the potential to be really ugly...eurozone fallin apart and the job report could be a bomb as well....welcome back to march 2009

"Now if the market goes up, goes down or stays flat you can come back later and say that you predicted it, just like everything else you claim, in your tedious, tiresome fashion, to have called. Brilliant!"

Nah, you have me confused with somebody else. You should take mine as a "flat for now" for the most part. Such that going up or down major, I'd be wrong.

You also have me confused with someone who DIDN't say...

Buy SSOs at dow 8k, 7k, 6500.

Its documented, check it.

Yes, I get that there are folks who make generics and then go off them. But I called major down on Manhattan, and major up on stocks... well documented.

btw, sideline, what's with the stick up your butt? why do you feel a need to jump on anything I post?

Mostly because what so much of what you post is to pat yourself on the back for supposed predictions come true, and it's annoying.

And I don't jump on even a fraction of what you post. For example, I don't jump on all the spam you post in new threads with some random news link that half the time is unrelated to real estate. What's up with that anyway? Are you trying to stand up for the bulls and level the playing field with ericho and steveF by posting equally random shit?

"Mostly because what so much of what you post is to pat yourself on the back for supposed predictions come true, and it's annoying."

What funny is, just up there, you jump on me and there is no such pat on the back. Hell, the post you jumped on me before that, I made no mention of myself either.

Methinks you're just a little too testy.

> And I don't jump on even a fraction of what you post

Are you bragging about that?

Its like the Chris Rock bit...

You want a cookie?!?!

;-)

> half the time is unrelated to real estate

If you're claiming that half the news I post is unrelated to RE, I say you're off your rocker (particuarly when the economy is pretty standard news for this site, particuarly local).

If you have a problem, and think something isn't related, say it.

But don't be a putz about it, acting like a child.

> Are you trying to stand up for the bulls and level the playing field with ericho and steveF by
> posting equally random shit?

If you are really comparing me to SteveF (or hell, even ericho to SteveF), what little credibility you had with me is gone...

sorry, meant stand up for bears, not bulls. obviously backwards

yes, backward.

;-)

Woohoo! we break 10k party like it's 1999

i sold half my stocks today and i will sell the other half tom. I think dow 9000 is coming before 1100 I am not willing to let my profits go ever again after what has happened.

You sold your 50% of your position to protect against a 10% loss?

sam...you're probably not alone...I don't think many people will this baby all the way down, if it does go down again....

What's next? Time to buy again.

honestly I dont want anything to do with stocks after all this. Not for a long long time. If the market goes low enough I would put my capital back in. But for now lots of things have to change in order for me to have any confidence in this crap.

Asia is down 2% to 3% all across the board, and if Europe wakes up with the same headache (how could it not) I don't see the DOW going up unless the jobs report is way better than expected. On the other hand, maybe "expected" went so low in the last 24 hrs. that it comes in better than that.

we are up over 60% from the march '09 lows with nary a pullback that hasn't been bought. now we are having a real correction. that his normal. when i look at the macro picture i see markets punishing prolifigate economies such as greece, portugal, spain etc...i see china trying to avoid an RE and stock bubble. they are taking the pain now to avoid a worse fate later. obama's budget is the most honest one we've seen in 20 years. we are finally getting the message here after a decade of bursting bubbles that triggered horrid recessions. markets don't like uncertainty and these measures will be painful, but once it becomes clear exactly what these measures are the markets will respond positively. as for today if the market gaps down, i am buying at the open for a day trade. the jobs number means nothing in itself. i am more interested in the reaction once the bell rings. everyone is expecting a big revision downwards so it's already priced in. if they rally i will fade that rally. i will look to add to longer term positions of: GOOG, TBT, GLD,AMZN,GS and SIRI.

jobs number were bad I sell my other half at 10. ALL OF IT

wannabuy, hopeful words, but I honestly don't think we've learned any lessons whatsoever, what with Republicans (such as Boehmer) saying loud and clear that they oppose any financial regulation and the government presenting FHA as the new clearinghouse for subprime, I don't think we get it. And with the Republican's 41-59 majority I think 2010 is going to be the year of stalled initiatives, deterioration, and blame games. And 2011 will be the year of "it's too late now".

Jobs numbers weren't terrible. They were about what you would expect coming out of a severe recession...mixed. They expected 13,000 and it was down 20,000. November was revised from 4,000 to 64,000. Service sector up, Manufacturing up and construction down. Average workweek rose and hourly earnings increased.

Some good and some bad. This will be the norm for the next few months. It isn't going to be all rosy news.

> What's next? Time to buy again.

You might be right.... especially when I hear things like...
"honestly I dont want anything to do with stocks after all this"

I'm picking up some more index shares... and I have a hair of "insurance" I've sold a small amount off of.

Waverly: "November was revised from 4,000 to 64,000."

Let's not forget December: revised from -85,000 to -150,000.

Wait I listened to all the Bears on this board and sold ALL my real estate and put it into stocks because they all told me the stock market is the better investment. What's going on?????

pulaski - yes...some good and some bad. The disappointment is because some have expectations that are out of whack with what is realistically possible, considering all that has happened and where we are coming from.

Great..no. Terrible...no.

widestance

Next time don't buy Reits. :)

"Wait I listened to all the Bears on this board and sold ALL my real estate and put it into stocks because they all told me the stock market is the better investment. What's going on?????"

what's going on... they were right. We're up, what, 60% off the bottom... while RE has continued to decline.

> Next time don't buy Reits. :)

lolo

Just my 2 cents, but I think stocks are only better right now if you are long and dont need the $ in the short-term (per Buffett strategy, buy companies with solid financials and then let it be and dont look at daily fluctuations). If you are daytrading or going short, its so volatile you could make good picks and still lose $.

agreed, tech.

I'm not much of a day to day trader, there often isn't a lot of logic... but I'm definitely using this opportunity to pick up some longer term shares. I had actually shaved down some position a few weeks ago, and I'm bringing them back up.

Can't find the balls to buy FSLR, it's cheap right now.
A proper solar company though the Walton (Walmart) family sold off a good chunk.

I sold it all this morning, i dont trust markets that are held up by the gov. Goodbye stocks and good riddance

making me feel better about my purchases....

don't look now, but did we just jump 140 to approach flat for the day. wait, spoke to soon... turning down again.

nice day trading day. market trending down all day and every rally was shortable. then the explosive move up. looks like an interim bottom at the least. GOOG setting up beautifully on the weekly and SIRI has great charts all around. we were due for a pullback and it happened to coincide with some scary economic headlines. too many people leaning the wrong way again and we had a nice strong close. this day to day market gyrations do affect NYC RE although the relentless rise off the March '09 lows certainly imbued some confidence. I think we go higher.

If we don't get any new dose of bad news over the weekend, I'm with you.

oops meant the day to day gyrations do NOT affect NYC RE. need a proofreader

Agree on the day to day. The month to month, though...

Look how many folks were talking about the S&P runup a few months ago when saying why RE would go up. Its one of those things, if in that market think X will impact, then it does. Of course, there are other, potentially stronger factors as well (like unemployment, an economy in shambles, a state government going bust...)

It will do one of three things: (a) go up; (b) go down; or (c) stay the same.

d) a and b e) a and c f ) b and c g) a, b, and c (if you give it long enough)