Dow drops to nearly -800 points

Wow, the dow seems to be dropping like a sake of spuds

Check it out!

www.djindexes.com...

That hit on the S&P 500 today was the largest since the '87 crash - almost spot on down 10% today.

New low on the Nasdaq - a very bearish indicator.

Well i guess this will shut up all the people on Monday who proclaimed people liek me were just fear mongereres who got too into the drop and that it was just NATURAL FLUXUATION.

God pull your head out of your @sses.

Almost every time there is a stock crash, it will retest the lows. and thats what we are doing now, Tomorrow we will most likely drop. Check the low. If we hit it and bounce than we will have some good support that can be built upon, but if we have a few bad days and end lower it may just lead to more downward momentum.

Were not going to just in one day pop us and be like..OH look were up, nothing happened! But i think we will have spikes and then trickle down, have an upward spike and then trickle down. I think we will continue to slide down for a few months.

reply to post by leo123


So is it safe to assume that Monday was just a dead cat bounce on speculators buying cheap junk? Listening to Ben (Buttnose) Bernake today, the forseeable future still looks bleak in housing, banking and retail sales.

Gearing up for a cheap Christmas.

Monday was a reflection of the Depression Syndrome.

We will see at least one more 'miniature' spike in the coming week or so.

I don't know squat about finance, but i think the market's 'true' value is closer to the 6-6.5K range. After that the curve will flatten and resume modest growth. (yup, I pulled that one out of my butt! - if everyone else can 'guess' so can I.

The only fearmongers I have an issue with are the ones that FILL THEIR POSTS WITH OMG CAPS!!! and exclamation points and , followed up with goofy crap like "wow, looks like the economy is going to tank, here goes WWIII! ," as if this is a really cool and fun thing to liven up their lives.

Yes, the economy has serious issues. I'm hoping we can dig ourselves out, and I do have hope that we can do so. I am not wishing for the worst, like many for some weird reason, seem to like to do.

I think it'll get better, I think it's gonna be awhile and some terrible things may happen in the mean time but it'll get better.

We just have to hold on tightly through the ride.

reply to post by fleabit


Maybe they should post:

"Markets dropping like a stone" zzzzzzzzzzzzzz

"Banks around the world unable to survive without buy-outs/nationalization" zzzzzzzzzzzzz

"Government debt increased by hundreds of billions to save the system" zzzzzzzzzzzz

Monday's market reacted to the finances, today's market reacted to the preliminary economic indicators that were just released. Dismay replaced euphoria. The market will keep reacting to the economy outlook.

On Monday banks and bonds were not 'on' as such from what I've seen so it should have been better than what it was expected to show (and it was).

Today.. no surprise.

My father was talking to Mazda car CEO of New Zealand earlier this week, they are expecting a large economic crash/recession/whatever you want to call it and expect it to get much worse.

Originally posted by fleabit
I am not wishing for the worst, like many for some weird reason, seem to like to do.

I'm hoping it doesn't yet thinking a good kick in the ass wakeup call to people and how they are shafted every single day might be in order... so on the fence. I think that's why people wish it to happen. Also to see the fat cats toppled from the tree.. as most would.

[edit on 15/10/08 by GhostR1der]