Dow Jones Tanking

Dow Jones Tanking

money.cnn.com

Stocks sink for fifth of six sessions in 2008 after jump in consumer credit, AT&T warning add to recession fears. Weak housing news and spiking oil and gold prices also factor.

(visit the link for the full news article)

Dow Jones seems to be going down faster than a Japanese Zero on fire in the Pacific during 1942...

Since it broke its support of 12700 I expect to see the low 10K or lower.

money.cnn.com
(visit the link for the full news article)




[edit on 8-1-2008 by pityocamptes]

Originally posted by pityocamptes

Since it broke its support of 12700 I expect to see the low 10K or lower.

you would have been more believeable if your forecast of DOW 10K
was publicized even a week ago....

glad i'm a buy & hold gold investor (with small additional voluntary investments along the longterm)
the whole system of fractional banking
along with creative derivitives & the excessive credit expansion
has caused the Ponzi scheme to implode...almost instantaneously !!


!!!!

i'm pretty satisfied that --- at least myself & the 'family' can escape
the "Grapes Of Wrath" social order that is rapidly gaining on us middle class Americans....
(see the movie -> it's been playing regularly for the last 2 months on late night cable TV)
'Tobacco Road" is another 'futuristic' movie which depicts the social setting of where we are heading.





[edit on 8-1-2008 by St Udio]

A major correction? The federal reserve has plumped the economy, specifically the markets like a pimp with a bag of coke for its whores. The threads of the quilt are coming apart as we speak.
As Andy Capp says 'wait for it'.......

[edit on 8-1-2008 by jpm1602]