The Stock market 10/8/08

Discussion in 'Economy' started by DavidS, Oct 8, 2008.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    Dow futures are down 194 points. I can't imagine how bad this day is going to get. Can you say Dow 8900?

    Update: The people on CNBC look pasty white and scared.

    9:51 a.m. The Dow was down 250 points a few minutes ago and is now UP 160 points. This market is not for the weak at heart.

    10:57 a.m. The dow is now down 111.27 points from being up 160 points from being down 250 points. I'm dizzy.

    2:30 p.m. The dow is now UP 103.

    3:50 p.m. The dow is now DOWN 105. This is getting nasty.

    4:19 p.m. The dow has closed down 189.01. Down 2% for the day. I wonder if anyone from FoxNews who has no idea what the hell they're talking about regrets saying "Buy! Buy! Buy!"
     
    Last edited: Oct 8, 2008
  2. NOBama
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    NOBama Senior Member

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    If we don't see a pop today (based on Fed rate cut) what do you suspect is going to happen tomorrow when the short-sale ban expires?

    If there's an upside, I don't see it. Somebody enlighten me, seriously.
     
  3. slackjawed
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    slackjawed Self deported

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    The upside is that when the markets stabilize we will know the true value instead of the inflated value.
     
  4. DavidS
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    DavidS Anti-Tea Party Member

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    I'm going to say this and it's probably the scariest thing I've ever said.

    When Bill Clinton took office the DOW was at 3400.

    When Clinton left office, the DOW was at 11,000.

    That's nearly a 300% increase. In the entire history of the stock market, that has NEVER happened.

    When Reagan took office, the DOW was barely 1000.

    When Reagan left office, the DOW was around 2000. So it doubled. The DOW has always increased at least 50% no matter what president we've had. For dow to increase 300%, instead of 100%... it's amazing, but perhpas over inflated.

    The DOW should be somewhere in the 6000-7000 right now. We've had years of contractions.
     
  5. DavidS
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    DavidS Anti-Tea Party Member

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    I think they should continue banning it, but I think we should be somewhere around 7000 when we hit bottom.
     
  6. DavidS
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    DavidS Anti-Tea Party Member

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    By the way, YAHOO refused to be sold to Microsoft earlier this year because they felt $34 per share was too little.

    Yahoo is now below $14.50.
     
  7. AVG-JOE
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    AVG-JOE American Mutt Staff Member Gold Supporting Member

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    You know...

    Even if the system grinds to a complete halt, as long as China and Canada don't invade, another system will rise from the ashes - people gotta eat.

    If you have stock in worthwhile companies and you aren't going to die in the next 10 years, chances are good that your portfolio will recover.

    If you are smart, you'll start stockpiling as much cash as you can to reenforce your positions (in companies you feel are worthwhile) when the bottom hits. The really good news is that you can wait until you're certain the bottom has happened before buying and still be getting back in cheap.

    -Joe
     
  8. DavidS
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    DavidS Anti-Tea Party Member

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    Agreed. It's time to get out of the market and let it bottom out.
     
  9. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    I thought the Bailout (excuse me "Rescue" :rolleyes:) was supposed to stabilize the Market and stop the meltdown?
    The two good things I see is the dollar is strengthening and oil prices are coming down. Are they interrelated? I think so.
    Cheap oil is good for an economy that runs on it. Manufacturing and transportation costs will come down, the people will have more money to spend and it will all snow ball nicely.
     
  10. AVG-JOE
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    AVG-JOE American Mutt Staff Member Gold Supporting Member

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    We also thought Saddam had WMD's in his panty drawer...

    Fool me once...

    -Joe
     
    Last edited: Oct 8, 2008

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