The stock market - Monday the 13th

Discussion in 'Economy' started by DavidS, Oct 12, 2008.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    I'm starting this early to track European and Asian stocks. Fridays rarely see bottoming out, so I think tomorrow, Monday October 13th, we could see another black Monday. Foreign leaders met at the White House this weekend and instead of announcing a global plan to fix the economy, they came out with a joint statement saying "We'll work on it."

    People are going to spend the weekend looking at how bad the week did for them and they're going to sell. Everyone I've seen on the major networks agrees with this, but doesn't see us falling below 8,000.

    This will setup a nice bull run on Tuesday. People on Tuesday are going to see how cheap stocks are and there should be a nice rally to get us up to today's levels. We've got inflation reports, earnings reports and a couple of other reports coming out around Wednesday, Thursday, so everyone is saying this volatility should end by then.. unless something else happens.
     
  2. Paulie
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    Paulie Platinum Member

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    Stop listening to the "major networks". They're polluting your mind.
     
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  3. Toro
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    Toro Diamond Member

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    The Dow is up 150 points in the futures market at 10:30pm on Sunday night.

    I'd rather see it down 500 points and rally. I'm afraid an up open on Monday will merely encourage the sellers.
     
  4. Charles_Main
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    Charles_Main AR15 Owner

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    The people selling are fools, why turn a paper loss into a real one. Stay in for the long run. 5 to 7 years from now the markets will be back to where they were before this all started.
     
  5. DavidS
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    DavidS Anti-Tea Party Member

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    Asian and European stocks are up sharply! Dow futures are up almost 400 points! We could see the best day EVER on Wall St.!
     
  6. editec
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    editec Mr. Forgot-it-All

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    Hey Rocky! Watch me pull a bull or a bear out of my hat!​

    [​IMG]
     
  7. Dr Grump
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    Dr Grump Gold Member

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    Interestingly, the Australian market was up 4.5% as were most Asian markets at the close of play.

    I honestly think people are just lemmings. They follow the latest trends.

    That aside, my boss - who is a prick, but pretty astute - said any person cashed up would be buying like crazy. So many of these public companies are solid, but people are only selling because they are in panic mode. They don't realise how good some of these companies are....those in the know do, though, and will be richer for it. I wish I had a creidt line...
     
  8. DavidS
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    DavidS Anti-Tea Party Member

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    In about two years from now, we're going to have very cheap real estate and a very cheap stock market. Whomever is elected this time around will most likely be elected next time around as well, the economy is going to be on fire.
     
  9. editec
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    editec Mr. Forgot-it-All

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    The fact that central banks world round are putting money into the system seems like it should mitigate the current liquidity problem.

    The more important question for me is will the nations realize that bankers need rules to prevent them from doing this kind of wild speculation, again?

    We either need to give our government the responsibility for lending (we take that away from the FED) or we need to seriously regulate what kind of investing our banks are allowed to do.

    That, and we really need to punish those bankers and bond ratings companies which LIED to their bond puchasers. At minimum they ought to be stripped of every asset they own and the proceeds ought to go to the people holding those dubious bonds.

    THAT needs to happen no matter which course we finally decide to take, methinks.

    If we continue to overlook bad business practices like that, and if the villans continue to get away with these sorts of deals scot free and rich off the proceeds of it, then no investor anywhere in the world is safe for another diasterous conspiracy to defraud investors.
     
    Last edited: Oct 13, 2008
  10. DavidS
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    DavidS Anti-Tea Party Member

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    Hmm... a moose creating a bear... interesting.
     

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