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Arrived: Recession (pg. 21)
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| skizzell |
| quote: | Originally posted by |Thrax|
Until someone deletes this thread because of a HCWD ;)
That is what zee g00gles is for.
TA, zee mod's, zey do nothing. |
TA? Mod? Does not compute. |
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| ninetyninej |
| Wouldn't be surprised to see the DOW drop to the 8000s by years end (or weeks end for that matter) |
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| diskodave |
| quote: | Originally posted by ninetyninej
Wouldn't be surprised to see the DOW drop to the 8000s by years end (or weeks end for that matter) |
3 more days like today, and we're there! ;)
7,500 is key support, we should bounce there (but who knows how long that rally will last)...
| quote: | Originally posted by |Thrax|
Until someone deletes this thread because of a HCWD ;)
That is what zee g00gles is for.
TA, zee mod's, zey do nothing. |
Stop reading the thread if you're tired of it... users post threads about politics, ipods, cars, etc all the time... |
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| Electrophile |
| quote: | Originally posted by diskodave
..Stop reading the thread if you're tired of it... users post threads about politics, ipods, cars, etc all the time... |
Maybe we need another 3 threads about where Armin will be on NYE? :conf: :conf: :conf: |
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| ninetyninej |
| quote: | Originally posted by diskodave
3 more days like today, and we're there! ;)
7,500 is key support, we should bounce there (but who knows how long that rally will last)...
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I was right only took a few days and we are in the upper 8000s :<
I agree if it goes to low 8000s or even in the 7000s we'll bounce up because stocks will be sooooo cheap.
I did grab B of A (BAC) yesterday and I think in a month it will back to $30 range....
http://www.bloomberg.com/apps/news?...i6b4&refer=home
U.S. Stocks Drop for 7th Day on Credit Concern; GM Tumbles
By Lynn Thomasson
Oct. 9 (Bloomberg) -- U.S. stocks slid for a seventh day as higher borrowing costs and slower consumer spending spurred concern carmakers, insurers and energy companies will be the next victims of the credit crisis.
General Motors Corp. tumbled as much as 22 percent, heading for its lowest close in 58 years, and Ford Motor Co. slumped 12 percent. XL Capital Ltd., the Bermuda-based insurer, lost as much as 60 percent on concern investment losses will weigh on results. Exxon Mobil Corp. led the Standard & Poor's 500 Energy Index to its lowest level in two years, while a gauge of financial stocks sank to an almost 12-year low as the three- month Libor rate climbed to the highest of the year.
``The sickening slide in the market is unbelievable,'' said Jerome Dodson, a fund manager who oversees $1.7 billion at San Francisco-based Parnassus Investments. ``Investors are worried about the freezing up of the credit markets. We've had bear markets like this before, but the credit markets were functioning normally.''
The S&P 500 fell 25.14 points, or 2.6 percent, to 959.8 at 2:59 p.m. in New York, capping its longest streak of daily declines since 1996. The Dow Jones Industrial Average declined 184.86, or 2 percent, to 9,073.24. The Nasdaq Composite Index decreased 1.4 percent to 1,715.98. Four stocks fell for each that rose on the New York Stock Exchange.
Worst Slide Since '37
The S&P 500 extended its 2008 tumble to 34 percent, while the Dow is down 31 percent. Both are poised for their worst yearly performances since 1937. Banks and brokerages in the S&P 500 lost 2.3 percent today as short sellers returned to the market following a three-week ban by the Securities and Exchange Commission. |
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| djGT |
| wow what a beating! :wtf: |
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| ninetyninej |
| quote: | Originally posted by djGT
wow what a beating! :wtf: |
srsly!
PS. i should've waited til today to buy BAC :/
BK OF AMERICA CP
(NYSE: BAC)
NEW Real-time: 19.74 Down 2.36 (10.68%) 3:59PM ET
it will still get back to $30 per share, just who knows how long that'll take in this bear market |
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| djGT |
| quote: | Originally posted by ninetyninej
PS. i should've waited til today to buy BAC :/
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You'll be saying the same thing tomorrow! :crazy: |
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| stefanoc |
my position in SDS is making great moves, too bad it's a fake portfolio for one of my investment classes.
the dow is set to drop to 8000 and even lower before it even reverses, and the s&p is to drop to 800 but i wasn't expecting it to drop like it's hot. |
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| diskodave |
| quote: | Originally posted by ninetyninej
srsly!
PS. i should've waited til today to buy BAC :/
BK OF AMERICA CP
(NYSE: BAC)
NEW Real-time: 19.74 Down 2.36 (10.68%) 3:59PM ET
it will still get back to $30 per share, just who knows how long that'll take in this bear market |
7th straight down day today. The mkt is extremely oversold here. We will get a bear market relief rally soon, possibly next week… and when we do rally, it should be fast and hard. |
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| vxman |
| another wow from me. never thought we would have seen 9000. 8000, 7000.... going going going |
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| ninetyninej |
Preview of tomorrow happening right now in Asia:
http://www.cnbc.com/id/27106905
Asia Gets Hammered, Nikkei Plummets 10% - Bloodbath in Asia as Markets Freefall
Topics:Asia Market Week | Market Wrap | Stock Market | Malaysia | Singapore | China | Shanghai Stock Exchange | South Korea | Australia | Australia & New Zealand | Hang Seng | Nikkei
By CNBC.com | 09 Oct 2008 | 08:24 PM ET
It feels like 1997 all over again in Asia. Japan down 10 percent, Australia down 7 percent and South Korea down 8 percent as markets around the world are gripped by recession fears. And the selling continues this grim Friday session.
The morning bloodbath in Asia follows Wall Street's 7 percent plunge Thursday, finishing below the key 9,000 level for its seventh straight day of losses, as coordinated interest rate cuts by the world's leading central banks did little to thaw the credit freeze and lift confidence in the financial sector.
The yen jumped to a three-year high against the euro and gained 3 percent against the battered Australian dollar as investors panicked about the sell-off in global stocks despite the array of official efforts to unfreeze credit markets.
The euro [$$EURJPY 134.03 -1.64 (-1.21%)] slid to a low of 133.60 yen before trimming losses to 134.32 yen in hectic and volatile trade, down about 1 percent from late U.S. trade. The dollar [JPY-TN 98.7 -0.95 (-0.95%)] hit a six-month low of 98.50 yen, while the Australian dollar [$$AUDJPY 65.66 -2.32 (-3.41%)] shed more than 3 percent to a low of 65.93 yen. Crude oil prices [[email protected] 83.88 -2.71 (-3.13%) ] fell below $85 a barrel -- their lowest level in a year on fears of lower demand.
Japan's Nikkei 225 Average [JP;N225 8246.28 -911.21 (-9.95%) ] sank over 10 percent after U.S. stocks plummeted on fears about a global recession, while the firm yen added to the pain. Banks were ask only and many blue chips had yet to start moving. Traders are expecting the index to drop further.
Australian shares plunged over 7 percent to a fresh three-year low. The benchmark S&P/ASX 200 Index was down over 280 points, its lowest ebb since June 2005. Stocks fell across the board, including miners such as heavyweight BHP Billiton's despite a rebound in industrial metal prices overnight on Thursday. Banks worst hit with both Macquarie Group and Bab& Brown down by double digits.
Seoul shares slid over 8 percent. Volatility in futures prices prompted the Korea Exchange to suspend program selling on the main board for five minutes, just after trade started. Kookmin Financial Group returning to the main board after restructuring itself to a holding company, opened at 48,150 won and then moved to 41,100 won. Shinhan Financial was down almost 10 percent. |
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