The Stock market 10/9/08: Yom Kippur - Will the stocks repent today?

[DavidS]

9:57 a.m. - Dow up 148.15

11:07 a.m. - Dow down 156.58

3:02 p.m. - Dow down 253.28

3:31 p.m. - Dow down 394.09

3:52 p.m. - Dow down 624.99

4:18 p.m. - Dow down 678.91 - a loss of 7.3%

 

[editec]

Cetnral banks worldwide are pumping money into the system and still the major banks won't lend money?

Maybe those commercial banks know something we don't?

 

[DavidS]

The DOW has dropped below 8900 for the first time since 2003.

 

[DavidS]

S&P has put GM on negative credit watch. Can someone explain to me what that means?

 

[LordBrownTrout]

I spoke with the branch manager at my bank the other day and they are hoarding their assets. They didn't get involved in the subprime mess and now they are fearful for what's coming....the credit card debacle.

 

[DavidS]

This is getting scary. This is almost the 2nd worst day EVER.

 

[Andrew2382]

I am not worried with the market.

A bear market is good for us. I feel bad for the retirees living off investments but you should always have enough cash on you to last a while.

However those working will be able to buy more shares when th ebottom hits and have a bigger portfolio when it grows again.

Remember we ahd a huge bear market from 2000-2002 when the dow lost 44% of its worth.

 

[DavidS]

I am not worried with the market.

A bear market is good for us. I feel bad for the retirees living off investments but you should always have enough cash on you to last a while.

However those working will be able to buy more shares when th ebottom hits and have a bigger portfolio when it grows again.

Remember we ahd a huge bear market from 2000-2002 when the dow lost 44% of its worth.

This is a different kind of market, Andrew. This is worst than the 1987 market.

 

[Andrew2382]

It will bottom out soon, we aren't near a great depression. You won;t see any soup lines