Stocks are tanking, Dow under 8K!!

as of 2:19pm cst

Dow:7960
S&P:807
NAS: 1448

Has round two of the economic collapse begun?

So many predictions here on ATS, I'll give one. Stocks plummet late january to late february, stabilize, then tank again in the summer.

I don't know why, but 4 month intervals seem like a good time for the moves made at the top to come trickling down and cause all of this instability. It's just long enough for the average American to forget he's just been had, so it happens again.

I understand very little about economics, but if there are manipulations going on at the top, it seems logical that this is a controlled collapse that will unfold in stages.

Step one sets a cascading effect that once fully realized, gives way for step two, etc...until it's all done with.

Really wish I knew more about these things to speak more clearly. I can visualize the gist of what's going on, but it's hard to put into words.

What say you, ATS. Round two of economic turmoil? Dow 6000 before March?

I don't think it's fair to say "it's tanking" because it's been fluctuating between DOW high 7000s ~ low 9000s, but that said we are back to the high 7000s again, if it touches 7500, I think it's fair to say.. "crap it's happening again"

A financial advisor told me that there would be nothing to keep up the DOW if it drops below 7500. He said at that point it would be unstabalized and you could just count your chips and be done with it.

I don't know what that means, exactly, but seems like it's getting close, huh?

i remember two months ago DOW was nearly 7000 , maybe a very few points under. My opinion : we will see DOW aproaching 5000 by the end of the year. However I made a predicition last year - that DOW will go down towards 10 000 then stay there. I was wrong hehe.. Now I say it will go to 5000 in 2009 , i hope I am not wrong the same way I did last time..

Its quite simple, its been about 3 months since the last round of reporting so its reporting season again. Reported results are going to be bad, so everything is starting to tank again.

The lull was really due to the holiday period, it meant a reduced amount of activity (as well as a reduction in the number of journalists around to report bad news).

Making predictions is pretty much impossible, because no one knows the extent of losses to be revealed nor the response of govts and regulators. Even the companies taking losses dont actually know what they are exposed to at the lowest level, as you also have indirect losses which will occur when other companies go under or suffer large falls in their share price. So its a reactionary game at the moment, you have to work out your losses after bad news and cannot know if beforehand.

We just have to see where the roller coaster is gonna take us. I dont expect it to be pretty.



[edit on 21-1-2009 by zvezdar]

Business News

Worst Inauguration Day for stocks - ever.

Stocks traditionally slump on this day. But this is the slumpiest.
(new word just for the occassion! )

reply to post by FlyersFan


This happened right after election day as well.

The Obama effect in full force?

as a person who watches the markets closely and part-time trader, the sentiment overall is that the S&P will reach 550 before we see buyers enter the market for good. however watch for a rally up to 870 before we see that occur...

8000 is a huge support level for the Dow but it will most likely break as we have seen a double-top pattern on the 20 year chart, with 7700 as the 2002 low. As soon as we see a definitive break in these levels itll be a car crash waiting to happen.

this will probably happen when people realize Obama can't fix the problem

I dont feel so bad now about having some unfortunate circumstances happen 7 years ago to where I rent instead of pay a mortgage and I didnt have any investments. . I really honestly do feel for everyone else who has lost on all this downturn. Family members and many here where I work have lost thousands in the market and in home values. Keep yer head up folks and keep plugging along and just maybe it will turn around. I hope so for everyones sake.