The Official Dow 7000 thread

[DavidS]

At this rate, we'll be hitting Dow 6000 by mid-next week.

Don't you mean this week??

 

[wimpy77]

something needs to be done and quick.

 

[DavidS]

something needs to be done and quick.

What do you suggest? The market doesn't play wait and see anymore. The market says "If you don't give us a detailed line-by-line analysis of what you're going to do and 50,000 testimonies of how it's going help we're going to sell."

Last year's speculators in oil have moved onto stocks and are speculating an Obama fail. Good for us youngsters who want to pick up some GE below $10 - but we just don't want to, I just don't want to get caught with the next Bear Sterns where Jim Cramer tells me to buy 4,000 shares at $65 and then it's sold to JPMorgan at $2 the next week.

 

[editec]

something needs to be done and quick.

What do you suggest? The market doesn't play wait and see anymore. The market says "If you don't give us a detailed line-by-line analysis of what you're going to do and 50,000 testimonies of how it's going help we're going to sell."

Last year's speculators in oil have moved onto stocks and are speculating an Obama fail. Good for us youngsters who want to pick up some GE below $10 - but we just don't want to, I just don't want to get caught with the next Bear Sterns where Jim Cramer tells me to buy 4,000 shares at $65 and then it's sold to JPMorgan at $2 the next week.

OUCH!

My sincere sympthies, DavidS.

 

[DavidS]

6594.44. Down 281.40. Damn. And if unemployment is bad tomorrow... just wait.

 

[wimpy77]

6594.44. Down 281.40. Damn. And if unemployment is bad tomorrow... just wait.

oh it will be bad they are already expecting the unemployment rate to go to 7.9% tomorrow. if that's the case i dont see what will keep it from going to 10% or above, especially if gm files for bankruptcy. at this point i think the government will give them money just to keep that from happening.

 

[Toro]

Obama today said, when asked about the unemployment figures tomorrow, that "they're going to be bad."

No wonder the market sold off!

Barack, my man, you gotta be a wee bit more savvy than that!

 

[Valerie]

6594.44. Down 281.40. Damn. And if unemployment is bad tomorrow... just wait.

All I have to say is:




Dow Jones Industrial Average
(DJI: ^DJI)
Index Value: 6,594.44
Trade Time: 4:02pm ET
Change: Down 281.40 (4.09%)
Prev Close: 6,875.84
Open: 6,874.01
Day's Range: 6,544.10 - 6,874.01
52wk Range: 6,661.74 - 13,191.50

 

[American Horse]

6594.44. Down 281.40. Damn. And if unemployment is bad tomorrow... just wait.

All I have to say is:




Dow Jones Industrial Average
(DJI: ^DJI)
Index Value: 6,594.44
Trade Time: 4:02pm ET
Change: Down 281.40 (4.09%)
Prev Close: 6,875.84
Open: 6,874.01
Day's Range: 6,544.10 - 6,874.01
52wk Range: 6,661.74 - 13,191.50

GE is becoming a good deal at current prices. I have my price alert set for $5.00/share and thought I'd never see it, but yesterday it was down to $5 and change. We last sold 600 shares 10 October 15 2007 at $40/share leaving us with 400; the purpose of the sale was to pay federal taxes. We may soon buy back those 600 shares back for $5/share.

Those 1000 shares grew out of $15 a week payroll deduction totalling only about $300 at GE during 71-72. So now that it's price is down from $58/share in April 2000 when my bride said "we need to sell that GE Stock." At the time I said "No wait....Bush is going to cut cap-gain-taxes and we'll save a bunch by waiting."
...

 

[wimpy77]

Obama today said, when asked about the unemployment figures tomorrow, that "they're going to be bad."

No wonder the market sold off!

Barack, my man, you gotta be a wee bit more savvy than that!

i think in all honesty he believes people want to hear the truth, but he doesn't understand that he its not doing alot for confidence

 

[American Horse]

Obama today said, when asked about the unemployment figures tomorrow, that "they're going to be bad."

No wonder the market sold off!

Barack, my man, you gotta be a wee bit more savvy than that!

i think in all honesty he believes people want to hear the truth, but he doesn't understand that he its not doing alot for confidence

I think all these remarks are telling.

I think he is still passing the buck. He believes that he can continue talking down the economy, and all the blame for what happens will accrue to Bush. He believes, and Rahm Emmanuel has said that "A crisis is to important to waste" and there is a philosophy that concurs stating that "Crisis equals Opportunity"; That seems to be Barackonomics 101, and that's all this is for the Obama Administration.

...

 

[wimpy77]

his approval rating right now is 62%. i will be watching this closely in the next few weeks. i

 

[DavidS]

Obama today said, when asked about the unemployment figures tomorrow, that "they're going to be bad."

No wonder the market sold off!

Barack, my man, you gotta be a wee bit more savvy than that!

Toro, do you have a link for that? I'd like to at least read or see that for myself.

 

[Toro]

Obama today said, when asked about the unemployment figures tomorrow, that "they're going to be bad."

No wonder the market sold off!

Barack, my man, you gotta be a wee bit more savvy than that!

Toro, do you have a link for that? I'd like to at least read or see that for myself.

No, a salesman told me that today.

 

[editec]

6594.44. Down 281.40. Damn. And if unemployment is bad tomorrow... just wait.

All I have to say is:




Dow Jones Industrial Average
(DJI: ^DJI)
Index Value: 6,594.44
Trade Time: 4:02pm ET
Change: Down 281.40 (4.09%)
Prev Close: 6,875.84
Open: 6,874.01
Day's Range: 6,544.10 - 6,874.01
52wk Range: 6,661.74 - 13,191.50

GE is becoming a good deal at current prices. I have my price alert set for $5.00/share and thought I'd never see it, but yesterday it was down to $5 and change. We last sold 600 shares 10 October 15 2007 at $40/share leaving us with 400; the purpose of the sale was to pay federal taxes. We may soon buy back those 600 shares back for $5/share.

Those 1000 shares grew out of $15 a week payroll deduction totalling only about $300 at GE during 71-72. So now that it's price is down from $58/share in April 2000 when my bride said "we need to sell that GE Stock." At the time I said "No wait....Bush is going to cut cap-gain-taxes and we'll save a bunch by waiting."
...

You must have saved a bundle in taxes, I'll wager.

Your bride must be so pleased.

 

[manu1959]

he the dow is at 1997 levels.......clinton years all over again......

seems deregulating the banks didn't work out too well for big bill ......

 

[oreo]

My hair dresser told me she wouldn't buy in until the DOW hit 4000 & I laughed. Maybe, she's right!

 

[oreo]

6594.44. Down 281.40. Damn. And if unemployment is bad tomorrow... just wait.

oh it will be bad they are already expecting the unemployment rate to go to 7.9% tomorrow. if that's the case i dont see what will keep it from going to 10% or above, especially if gm files for bankruptcy. at this point i think the government will give them money just to keep that from happening.

Personally, I think all these bail-outs & government spending is what has got the market terrified. Ever since our government intervened & bailed-out everyone our markets have literally collapsed.

To me more good tax payer dollars thrown at a failing industry only excalates the downhill slide in the markets.

 

[oreo]

Obama today said, when asked about the unemployment figures tomorrow, that "they're going to be bad."

No wonder the market sold off!

Barack, my man, you gotta be a wee bit more savvy than that!

i think in all honesty he believes people want to hear the truth, but he doesn't understand that he its not doing alot for confidence

President Obama definitely needs to tone it down. In fact one of his biggest supporters Jim Cramer--CNBC of Mad Money has just jumped ship on Barack Obama. He is furious over the sky is falling rhetoric out of this administration. He also stated, that Obama's policies are the largest transfer of wealth of any President in history & the markets don't like it. When asked why he voted for Obama. He stated he thought he was a moderate democrat & that his policies would be moderate. Little did he know that he was a left wing liberal.

"The problem with socialism is that government eventually runs out of other peoples money to spend" Margaret Thatcher.

 

[oreo]

The market sold off today, March 5, 2009 because of the statement out of General Motors--"after the bail-out" that Chapter 11 was in site.

They will now be requesting more tax-payer dollars to stay afloat.