Dec 12: A day to 'dread' on Wall Street, DOW futures down 260

A day to 'dread' on Wall Street says Sen Harry Reid

money.cnn.com...

After the auto bailout failed n the Senate last night Reid thinks we'll have a bad day on the markets.

The news isn't good today. The Ponzi scheme and ominous unemployment figures and a sell off in Asia and the support line trend has failed. It gonna be scary.

[edit on 12-12-2008 by venividivici]

Very interesting opening coming today, and day ahead... do we witness freefall today, or some magical upturn again, by those invisible hands, manipulating markets these days so powerfully?

Everything is set up for black Friday.
DJIA 8,303 -294.0000 3.4198

Futures Fall As Auto Deal Collapses
www.foxbusiness.com...

I think you're right, I was watching the Asian market responding to the news this morning.

I'm not good with financial systems, but I would guess it'll be pretty severe in the US when the markets open.

The american market is absurd because it is government controlled. The free market does not run the american stock exchange, and the past year should of shown you that.

So no one really knows which way it will go, so its a wait and see.

It's getting ridiculous, it is like the movie 'Groundhog day'. I live in Canada and let me forecast what will happen. Market will go down badly today, oh yeah, it will be terrible. The MSM add drama and fear to the situation. They will told us again that if one of the big 3 fall, the US economy and job losses will be terrible.

And tonight almost every americans would accept the bailout plan...and they will beg for the Government to do something. Even if 85% of them did not want a bailout plan last week! I just check a new poll on CNN and 49% of people wanted a bail out, so imagine tonight!

some time ago, i heared if this bailout will not pass the senate,
these car companies will die in weeks.
+/- 2 million people will lose their jobs all over the world.

if this doesn't make the markets plunge, nothing will.

reply to post by GondelleX


Actually GM is the only one that is in severe trouble right now. if they dont get the money, then they are done within three weeks projected....however Ford has said on many occasions even without a bailoput they should be fine until mid 2009. Same with Chrysler.

The catch is though, if GM is allowed to fall the ripple effect will kill the other two companies. Or so im told.

[edit on 12/12/0808 by Trayen11]

[edit on 12/12/2008 by seentoomuch]

reply to post by airlouche


Problem - Reaction - Solution

Thats the way NWO rules soon everything...

Great observing from you, I just get out from the jungle after 2 days out from net and "civilization", and when I sit in front of the news, I was very amazed that Bail out wasnt accepted already... I assume totally different outcome.

I have been hoping for the automakers to go broke.In my eyes that would be our chance to move to a dif kinda power.No more gas and oil.I don't care what that does to the markets as I think it is the sacrifice that needs to be made.
Technology and money go hand in hand and I feel we have our hands tied when it comes to clean energy.Too many carmakers would suffer and so would the oil and gas industry.The economy would crash if we did away with oil gas and gas powered vehicles.
I hope the automakers fall and I hope wallstreet does as well.Then I pray we get the right people in there to make the right decisions for all instead of just making you and your buddies some money on the backs of other people and the rest of the planet.
Thats my uneducated opinion!!

Originally posted by JanusFIN
Very interesting opening coming today, and day ahead... do we witness freefall today, or some magical upturn again, by those invisible hands, manipulating markets these days so powerfully?

Everything is set up for black Friday.
DJIA 8,303 -294.0000 3.4198

Futures Fall As Auto Deal Collapses
www.foxbusiness.com...

Why is it that if the markets go down its not government manipulation, but if it goes up it always is?

reply to post by DrumsRfun


I had US made Pick Up Truck once... But after couple of years with all kind of technical problems, I decided, that would be my last one.

After couple of good Toyota Vans, now days I have Nissan Navarra 4 door pick up, and I am very pleased from its quality and ecology.

At least I will not miss any GM, Mopar, or Ford... It doesnt matter how the car looks like, or what it can perform, if its not working tecnically with full quarantee, its just a piece of "S¤#" ...

and on top of that, these car companies produce so freaking much gassen and by-products that they damage the environment heavily.
if they go broke, we save alot of trees
(and finally, we silenced al gore )

I really dont understand how they can claim that GM falling will hurt chrysler and ford.

Surely the basis of the market is competiton; and GM falling means less competition for Ford. If anything, they should benefit from people buying Ford trucks instead of GM trucks.

the futures hitting low might have cause from all the things mentioned so far, no auto bailout etc..

but i note that the USD is hitting a 13 year low versus the Yen,
USD=90.1 area... and is rumored to be trading in the 89. Yen range in local asian exchanges (vs the USD)

i see the world reacting to the huge fed/treas inflationary injection of Trillion$ into the financial-system BlackHole in the USA...


the PPT will most likely reverse this dollar devaluation in the course of the day.
And the preception that the rest-of-the-world is contracting emmensely more than the USA, is being challenged...


perhaps these other blocs are actually thinking about 'stripping the whore of babylon of all her finery, and watching her burn...'

Dow down about 200 right now.

The market had already been valued assuming all of this.

[edit on 12-12-2008 by Grumble]

reply to post by LowLevelMason


That was a good question.

Manipulating markets show their true force, when acting without any sence at all - When all the analytics and observers will fall again under their tables, hiding their faces, and everybody are just wondering the same question... "What just happened?"

No matter if it happens when markets are in down ways, or up ways. US Markets are just very highly distorted, and under manipulators, and false indicators. I have no question about that anymore.

Observing US markets are just poor entertainment for me these days, and seen as badly scripted hoax... Like Free Wrestling.

True economy is in the streets, amongst homeless and jobless. With crimes, peoples outside hospitals, and childrens without education - or in prisons.

I am just waiting what will spark unrest all around USA. In Creece it was just a death of boy... When something like that, small incident will blow hurricane to its force, and will fuse USA to flames?

Surely that will happen soon...

www.rts.ru...
Once again, Russia is chaotic.

Equity trading suspended on RTS for an hour Due to the technical index going down by more than 5% as compared to its closing value, trading on the RTS Stock Market based on indirect orders was suspended time for one hour at 03:05 pm Moscow.

www.bloomberg.com...

Ruble Suffers Biggest Weekly Plunge Against Euro Since 2000

Oil prices must be killing countries like Russia and Canada.

Originally posted by JanusFIN
reply to post by airlouche

 

Problem - Reaction - Solution

Thats the way NWO rules soon everything...

This is PURE Milton Friedman. This is 'economic shock therapy' intended to help do away with any restrictions on the market here in the USA, think UAW. This is the last days of the Bush Co.'s ability to force through the ideologies they subscribe to nothing more. Sadly they are all such blind fools they pay no mind to the absolute destruction they are going to wreak on this nation and others through their unyielding belief in the cancerous form of capitalism.

Enjoy the ride because we ARE going down now. Chrysler and GM say they will not survive the month. Say good bye to the last legs of manufacturing int he USA. I sure hope China is going to be willing to build us tanks when we go to war with them...

The foolishness is stunning, we get what we deserve.

Originally posted by airlouche
It's getting ridiculous, it is like the movie 'Groundhog day'. I live in Canada and let me forecast what will happen. Market will go down badly today, oh yeah, it will be terrible. The MSM add drama and fear to the situation. They will told us again that if one of the big 3 fall, the US economy and job losses will be terrible.

And tonight almost every americans would accept the bailout plan...and they will beg for the Government to do something. Even if 85% of them did not want a bailout plan last week! I just check a new poll on CNN and 49% of people wanted a bail out, so imagine tonight!

I could not agree more with such sentiments.

1. The bad news regarding the bailout has broken.
2. People's emotions run riot and expect the worst. The MSM add fuel to the fire.
3. The masses sell as panic sets in. For some, down means loss, for others, opportunity for fire sale!

However, with this, I am interested if we are likely to see any plunge protection taking place, either before or after lunch - (watch out for the ''rally'').

DOW down 196.33 yesterday, The East big losses followed by Europe which is hurting at the moment - possibly a 500+ point drop today?? Big drop at open and then flatline thereafter perhaps.

I hope I don't need the ''edit'' button later!