Dow droping like a rock at opening (10/2/2008)

The dow is down 144.24 pts only 25 mins after opening on the approval of the bailout plan. i wonder what will happen to the U.S. dollar today after the approval of this plan as well.

now -180 30 mins after openening. anyone have any predictions as to how far this will go?

s&p down about -25 pts and nas is down -42 pts. The dow is now at -200 points

Most likely not another 777 point drop...i speculate a 400 pt drop, at the very most

The day when they original bail out plan was going through congress, the DOW was down about 200 points - this was due to fear as noone was sure what was going to happen. When it was becoming clearer that the bail out wasnt going to be approved, it dropped another 400 points in a matter of minutes.

Now the new bail out plan is again going through congress, the DOW is once again down about 200 points - once again, due to fear as noone is sure. When it is becoming likely that it will be approved, i'd imagine it would shoot upwards 400-500 points or so.

They say "buy on the rumor, sell on the news". This thing has a lot more downside in my opinion. I hope I can get some money together for when the DOW hits 7-8K so I can do some shopping.

Gold down, Silver down, Dollar up???????

www.dollarcollapse.com... scroll down to kitco charts

[edit on 2-10-2008 by Pinktip]

A co worker just got a call from his broker, SELL IT ALL! SELL!

Any other reports like this?

Originally posted by Pinktip
Gold down, Silver down, Dollar up???????

www.dollarcollapse.com... scroll down to kitco charts

It's a suckers rally on the dollar and will probably happen for a while. Two steps backward one step forward until the sponge is wrung dry. I wonder if they are going to try to cellarbox it? I don't understand why gold is dropping though. I keep hearing stories about high demand for it.

The rich want to convert dollars to gold. Increase dollar value while dropping gold value and badabing you can consolidate more quickly before the two reverse directions. I'm only a benchwarmer gosh darn it. I would buy gold if I had the means.

Dows down -274, Nas down -62.1... Well, I guess this bail out really will "save" our economy..

Edit for typo

[edit on 2-10-2008 by KaginD]

Modern stock market trading has little to do with an investment. It's legalized gambling where bunch of jerks armed with fancy math formulas try to outwit each other.

When Dow skidded 800 points, the loss was attributed to the decision made by Congress that said no to the bailout. Yesterday, the Senate said yes, and the market reacted by closing -348 (Dow). It's apparent that the yes/no parameter doesn't affect the math formulas designed to realize the get-rich-quick or risk-free schemes. It's kind of futile to read and rely on all those anal opinions made by the market analysts. Watching a spinning roulette ball is as much as future revealing as the crap seeping through financial media.

Today's loss has been attributed to the jitters regarding the outcome of the vote in the House on the bailout package. That means the market should move downward tomorrow about the same rate as today. But the fancy math formulas already picked up all "undervalued" stocks from today's trading.

Originally posted by stander
Modern stock market trading has little to do with an investment. It's legalized gambling where bunch of jerks armed with fancy math formulas try to outwit each other.

When Dow skidded 800 points, the loss was attributed to the decision made by Congress that said no to the bailout. Yesterday, the Senate said yes, and the market reacted by closing -348 (Dow). It's apparent that the yes/no parameter doesn't affect the math formulas designed to realize the get-rich-quick or risk-free schemes. It's kind of futile to read and rely on all those anal opinions made by the market analysts. Watching a spinning roulette ball is as much as future revealing as the crap seeping through financial media.

Today's loss has been attributed to the jitters regarding the outcome of the vote in the House on the bailout package. That means the market should move downward tomorrow about the same rate as today. But the fancy math formulas already picked up all "undervalued" stocks from today's trading.

So if the fancy math formulas affect the market and not what the bloomberg media wants you to believe, then let's see if it's true.



Here it is: By 1 pm Dow gains some 200 points to pick up the undervalued stock and then, probably reacting to the joyfull news from Capitol Hill that makes rich richer, the index loses the gain and closes -157 points!

Just don't let the official financial media f-ck with your head too much -- unless you like it that way.