The stock market - 10/16/08

Discussion in 'Economy' started by DavidS, Oct 16, 2008.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    Asian markets free-fell during the night and the Nikkea was down 11%. Pretty soon, a stock market that had an average of 35,000 points will be below what the US has. It's amazing how the Asian stock markets have crashed so badly in the past few weeks.

    Yesterday marked the second worst drop, point wise, in DOW history and the second worst drop percentage wise.

    I think there will be some buying today, people bought on Monday and there's a lot of money on the sidelines just waiting for a bargain. The question is, are they going to risk going in while the market is so volatile?

    Dow futures are up 97 points.
     
  2. Annie
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    Annie Diamond Member

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    I saw the futures too a moment ago, think it's just hope of profit taking from the past two days?
     
  3. DavidS
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    DavidS Anti-Tea Party Member

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    Profit taking would indicate the futures were down... since people sell to make to profit. I think some stocks have gotten cheaper and some people want to buy those cheap stocks.

    Someone on CNBC said yesterday that if you don't have real time quotes, you shouldn't be trading because this market can change in an instant. He was right.

    Interestingly enough, Ford is looking to sell its Mazda division. I think Ford should get rid of its Mercury division as well... have just Fords and Lincolns.
     

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