Looks like were goign to have another BAD day today.

We probably have not seen the worst.
I dont know what to expect either.
Hope it ends soon.

I work for a printing company, and there is no work at all. My boss has been there for 8 years and has said its never been this slow. We had hours cut, few people got fired already.

I think its all BS, just fear on the markets part.
All of this from fear, imagine that.

Ausi market is open now.
They are in the red.

Japan still giving everyone egg rolls to suck on.


[edit on 8-10-2008 by R3KR]

I hear you! One of my companies sells laptop used or refurbished laptop parts to comapnies who repair laptops or to individuals who need a replacement part. We sell our prices lower than about 99.9% of the competition.

The parts used to litterly fly off the shelves. they would be sold before we could even get them stocked and organized. We literly at times go them in, listed them, and jsut packaged them to go out because they would sell in a matter of hours. Now we get inventory in, we just keep marking prices lower and lower and people just wont buy. Sales are hard to come by lately. I say this is in the matter of the last two months.

and that business is in a sector that is supposed to benefit from a down economy. because people are now instead of buying new laptops and tossing out the old ones, there trying to save money and have them repaired.

So if my business is supposed to be benefiting from this, i can only imagine what companies who wont benefit from this are feeling. I bet its a nightmare. And thats why people are not able to pay off all their loans.

I bet it will just continue to get worse now.

Originally posted by Rockpuck
reply to post by stander

 

Don't really get what your .. pointing at?

...listen carefully .. ok?




Looking at the ENTIRE CHART ..

I'm looking at a heading that says "Bad title." There is no "NO ENTIRE CHART."

Why would say "OMG the DJIA is at 1998 levels?!!!"

I didn't say anything like that. If you think I did, go back to my post and quote me.
All I said was that the market could go down to 1998 level without causing some economic disaster. You tried to correct me by producing a dateless chart claiming that back in 1998, the Dow was around 7 - 8k. So I zoomed in on that year and showed you that you screwed up on your estimate.

...When 1998 was the peak year, where it went (first 9 months.. hovering in the 7900-8900 range ... to begining it's final push to it's record points..

When in 2002-03-04 the markets where much lower then 1998 levels?

When you relate the DOW to the past you always say "lowest point since.. yada yada yada.. " .. In this case, sometime in 2003..

I don't have to say always anything. Dow hit 9250 for the first time in 1998 and so I used that year to go back in time. Simple.

THough, the other poster was right about everything except my screen name, the DOW adjusted for inflation, which is the biggest reason the stocks shot so high, is much less.. dramatic.

That poster agreed with you because of an inflation factor that you never mentioned in your post.

So what are you saying, Rockpuck? Do you think that if Dow Jones hits 8000 before this year is over, there's gonna be a serious trouble on Main Street?

Well folks the thing about this is...

The amount of drops that are occurring now are directly proportional to the amount of profit folks have been sucking up in the past ten or so years. The untold story of care free billionaires will be an unexamined foot note in history. This is WHAT we get... "we"
wanted free markets and jungle style capitalism, HERE it is! Its rather comical for
me to here the same people who worry about "redistribution of wealth", " its unAmerican"... HAAAAAAAAAAAAA - So quick to protect a faceless Billionaire and when they reap what they sow ...

There has been a redistribution of wealth alright... Can we vote BUSH in for a third term?

reply to post by mental modulator

Are you jealous or what? If all the whiners had that chance, they would have sucked the green in like a vacuum cleaner. You live only once. Get that cash as much as you can, buy a yacht, sail to the Riviera, and cheat on your wife with a 14-year-old French schoolgirl. Life is good.

Well, it looks like that "major insurance" company teetering on the edge of hell is......
Met Life! (We have a winner, folks).

Anyone having policies, assets, etc w/ the big snoopy would be well advised to run your ass off....

reply to post by nfotech

Hi Nfotech, more info please? Is your opinion about Met Life based on this:

www.marketwatch.com...

I just noticed, this thread has such a title that it can be resurrected day-by-day. Let's hope it doesn't have to.

Edit to add: This seems like a 'second order' repercussion, where a company has liability exposure being quantified by the first-round bailout auctions. Any predictions on where we'll see more of this, anyone? (Hint: who has extra money to invest?)

[edit on 9-10-2008 by Ian McLean]

My guess is around 8700. That will make it as stock frenzy if it goes that low. Evrybody with money left will be buying the hell out of stock. Some people are going to get VERY VERY VERY rich. Others will starve to death or jump off roofs. Oh well, thats the free market for ya. Look, people already worth a few million are doing great right now. I am not kidding here. Look it up. The working class and people with 100K in a 401K are going to get wiped out. The small secure banks are now killing the big ones. Stock is dropping and the rich are eating it up. I know of a few guys that got 8 million in stock that would have cost 15 times that 3 weeks ago. This is 8 mil they could give a rats ass about I might add. Me if I had 8 million to risk, I would buy a home on a island and arm myself to the teeth.

[edit on 9-10-2008 by TXMACHINEGUNDLR]

reply to post by Ian McLean


That is one source, I was going more by the bad news Met Life released:

" MetLife's results and company comments indicated that the firm had meaningful exposures to the failed or bailed-out firms American International Group, Lehman Bros. Holdings, Inc, Washington Mutual, and Fannie Mae and Freddie Mac, and suggested rivals might be exposed as well.
"We estimate that MetLife had $1 billion of exposure to AIG, Lehman, Washington Mutual, and Fannie/Freddie," analysts at Deutsche Bank told clients in a Wednesday research note. "

There have been rumors going around for the past two weeks that a major insurance company was about to fold due to an exposed position in Lehman and AIG. Based on the press release Met Life had that and then some.

reply to post by nfotech


Yes but look at the +90% rate on the Fannie/Freddie auctions! Doesn't that lend everyone a sense of confidence? After that, second-order exposure couldn't be worse, could it?

Does anyone else here see our tax dollars at work? (cough)

Well the asian markets had a good day, gaining some of their huge losses. And the European markets opened strong and gained a lot of ground but have started to fall back down to earth.

The DAX has just gone negative. was up about 3% and is about even now. But if the European markets close down then it might set up another down day for us. Although i don't feel like we will have a big fall if we do end the US trading day on another down note. But things looks a lot better than they have the last few days, But i do think its all because of all the government intervention that has taken place in the US and overseas. It seems that all it has done is prevent us from continuing our free fall, but that may just be temporary. Investors are still pretty uncertain.

And the Dow jones futures are still up about 130 points (1.5%)

WOW, TODAY WAS UGLY!!!!!!!!!!!!


down 678!!!! to 8579..... This is not good.

Originally posted by ghostlandseller
WOW, TODAY WAS UGLY!!!!!!!!!!!!


down 678!!!! to 8579..... This is not good.

That was an ambush, wasn't it?

Those folks who follow the Asian market as a harbinger of things to come to Wall St went to sleep, because the markets appeared mixed -- lots of green figures. After lunch, they were taking heavy fire -- complete pandemonium.

btw, if you see Rockpuck, tell him to stop by. He's an expert on lowest points, so I want to ask him about DJ < 8000.
Thanks.

reply to post by stander


800 was reached in the 2001 recession.

If we are to become "more severe" stock wise, in comparison to "lowest point" .. we would have to be nearer to 7.3k ..

% wise.. we are already nearing "worse than" ..

week wise.. nothing beats it.. except the Great Depression .. point wise, it's a record

Speed?

Great Depression ..

2001 was a volatile decline, this is a day by day free fall ..



Of course, 8,579 was also reached in 1998.

I am more concerned not with long run .. but in the short term .. where will it bottom out? .. so volatile right now, hard to say .. I never would have predicted a 600+ drop today, and it shows the system is in panic mode..

Originally posted by Rockpuck
I am more concerned not with long run .. but in the short term .. where will it bottom out? .. so volatile right now, hard to say .. I never would have predicted a 600+ drop today, and it shows the system is in panic mode..

That's what I meant. There is an interval where a function has its minimum. So I wonder what the minimum would be? Would it occur this year, or would the market bottom out next year. And what the bottom would look like?

I agree it's nearly impossible to tell. The sudden daily drops resemble the fight between Mike Tyson and Buster Douglas back in 1990. They're like punching each other the split decision style and then BOOOOM -- Tyson goes down! The trading acts funny, no trends visible.

So before this year is over, what do you think/guess would be the lowest point?

I just gobbled up some .02 stocks, 6000 shares baby, they are normally 5-7.00, if they ever go up Ill make out like a bandit

However the ways things are dont think it will happen anytime soon.

I guess the Japanese ran out of egg rolls for people to suck on, get this...

HONG KONG Hang Seng -1,191.00 14,820.02


Can also suck it...
DOW PRE MARKET -248.00 8350.00





[edit on 9-10-2008 by R3KR]

[edit on 9-10-2008 by R3KR]

LOL, yeah it all looked good till about an hour before the closing bell. That was suck a fast sell off! I think tomorrow is going to be brutal! have a 3 day weekend and this huge sell off right before the bell. Im interested to see what will happen overseas tonight. especially with europe.

As far as i see a low. We will have to break 7700/7500 mark. I see it being very hard to get below that. if we do, then as forest gump says. I went this far, might as well keep on going.

foreign markets are being demolished!!!!! Down on average of about 9% right now in both the Asian markets and the European markets which just opened.


HAHA the top gaining stock is -1.5%!!! i have never seen the top gaining stock be a negative # before! this is bizarre!

Watch out for tomorrow. we could see some amazing things.

And i do agree with RockPunk...(hope i got it right. haha). I do think there is more short term fear then long term. i think people do expect things to eventually get better, we jsut need to ride out the fever.

But im almost more worried about the governments. I am hoping they will just chill out and stop pushing recovery plans and fed cuts. they are having no affect and once the market levels out they will have no more options to help it recover.