DOW is already below 7000 by quite a bit yet no one is fussing?

lol @ DOW Jones Industrial Average BECAUSE no one seems to have noticed that it has already dipped below 7000 and closed today at 6,626 points. I guess we don't really care at this point since all seems hopeless? No, but still, 6600 points!? That is really low!

www.google.com...:.DJI

It's bizarre, people seem to have just given up and accpet the fact that they are a giant cash cow being milked by both parties. The last 450 billion had 8,400 pork additions. 8,400! Good Lord.

I mentioned this in the thread dedicated to bashing Rush.

They are more occupied on if Rush is a windbag or if Bush is a criminal to care what is happening while Obama is in the seat.

Or they actually believe in this stimulus package because it has Obama's signature and not Bush's. *sigh, I voted for Obama yet I am quickly losing faith

[edit on 3/7/09 by MoothyKnight]

reply to post by MoothyKnight


This is still a reasonable correction. Ebb and flow is natural law. 1988 - 2007 was the ebb and now the flow. Any lower then 6300 indicates a return to the 1987 levels.

reply to post by MoothyKnight


MoothyKnight, no one is really complaining about the dow being down to 6600 because it was predicted at least six months ago to get down to 4500 before it stops its downward movement.

Wait for that 4500 benchmark, I'll bet it will get down there, just as predicted. I thought the guy was pulling my chain when I heard it, but now I'm sure he knows what he was talking about.

Snarkiness on: just keep pumping that money into failed institutions. Print more money, give it all away. Seize pension funds, whatever it takes. Obama is just following the lead of Bush, yet on steroids. This will all work out, the DOW will recover.

The reason no one is fussing.
Is because the DJIA was over inflated.
It was never worth over 7000 to begin with.
It is a bubble, just like the dot com bubble.
What we have to wonder is, what are they going to do this time, to over inflate it?
Another war perhaps?

People fussing is part of the problem. It's only worth what people think it's worth. That's the nature of faith-based systems that are no longer backed by anything other than cotton paper.

CaptainCaveMan, I just wonder what is really going to happen. Something is going to have to happen, and whatever it is, it won't be good.

The USA owes about 16 Trillion USA dollars is what I heard the total amount comes to. That amount is too much to pay back. The only way it can be paid back, is if the government just starts printing out its Monopoly money and says,"here it is".

The government bailout programs for the rich is wonderful for the rich, but the USA is going down for the count financially.

Wait for that 4500 benchmark,

Everyone is waiting for fire-sale prices on stocks.

We may have a long recovery if everyone is waiting for it to get to 4500 before they start buying stocks.

I expect it too hover around 5000 to 6000 for a few months till the unemployment numbers start to drop.

Then people will start to buy stocks.

If the stock market stays down below 9000 for two years Obama will have lost. And the republicans will take the next congressional elections.

reply to post by MoothyKnight


Hi.

lol @ DOW Jones Industrial Average BECAUSE no one seems to have noticed that it has already dipped below 7000 and closed today at 6,626 points.

There have been 400+ posts surrounding this issue in the last two or three days in the market data thread. Check it out - the news comes in hot with links to back it up & there are some outstanding commentators in there.

reply to post by pause4thought


I wasn't talking about here, I was talking about everywhere else. The MSM doesn't say anything (never did) and anyone I've talked to is like "Really?! I didn't notice!"

[edit on 3/8/09 by MoothyKnight]

reply to post by MoothyKnight


I do apologise. I mistook your meaning.

At least you can point such folks to GM if they decide they want to start following events.

Originally posted by CaptainCaveMan
The reason no one is fussing.
Is because the DJIA was over inflated.
It was never worth over 7000 to begin with.
It is a bubble, just like the dot com bubble.
What we have to wonder is, what are they going to do this time, to over inflate it?
Another war perhaps?

You have put this here several times. What imput are you using that the Dow is undervalued? Make sure to include that the risk free rate is below 1%. If you really look at it objectively you will see that the dow has never been this cheap in it's entire history.