Dow drops below 10k

[Hooe]

Re: Dow drops below 10k

I'm just glad for the sake of my father's sanity that he moved his retirement account out of the market back in March. Had he left it, it would have lost about a third of its value since then.

I'm more or less in agreement with you, OSUFan (at least, going off what I had been told about this), though you seem to have a better grasp of the situation than I do.

[dave374]

Re: Dow drops below 10k

If this continues for the rest of the week and into next week, then you need to start to worry. Soon, though, I expect it to level off and it'll slowly climb back up.

I hope you're right, but I don't think you are.
The market movement we're seeing now is from people scared to death of losing all their retirement savings.
The slimebags had their money out long ago.
They will re-enter the market when the middle and lower-middle class have sold their stocks.

The sad part about this entire thing - not once have I read about the U.S. government going after the CEOs and execs who created this mess in the first place. Not once.

They're ready to throw billions to buy bad debt, but not once have I read about possible prosecutions.

Frankly, I'd put the top five execs of Lehman and its ilk in front of a firing squad for tanking your nation's (and likely my nation's - Canada) economies.

Why these people are allowed to walk away without repercussion from this is mind-boggling.

[fistofrage]

Re: Dow drops below 10k

I know the Dow is not a sure way to predict the economy and I know that economies around the world are falling, but Congress acted as if this would spruce up the stock market, which it hasn't.

I've heard from some experts before all of this began that the Dow was going to drop and settle around 8,500 or so and they may turn out to be correct.

The Dow often predicts what the economy will be like in six months, so I think the Dow may also be predicting a certain presidential candidate (not naming names...) winning which would probably be detrimental to the economy.

The point is that this bailout is absolutely stupid. As most socialist programs do, it rewards bad behavior (companies offering bad loans and people owning houses they can't afford) and punishes good behavior (the majority of Americans who are paying their mortgages on time).

You just don't get it. Without funds available to lend, many healthy businesses would go under. We can all agree that some clowns will profit from horrible business decisions, its unfortunate, but the bailout was needed to have a ready supply of funds for the businesses and people who need it.

Besides that, anyone who thinks this is a free market is crazy. In a free market, the goal of a business is to do its best, eliminate competition and make as much profit as possible. The government calls that a monopoly and regulates it. So thats the other end of the spectrum.

[callmetaternuts]

Re: Dow drops below 10k

Despite the Fed rate being cut a half a point (and other nations doing the same), the market is down again. Just an overall sense of pessimism and fear right now. The rescue plan (im not calling it a bailout anymore) will start kicking in gear, and once all of the panic is gone and everyone that wants out is out (a few days away it seems), the market will be able to start looking up. Not drastically, but you'll see more green than red.

[fistofrage]

Re: Dow drops below 10k

Despite the Fed rate being cut a half a point (and other nations doing the same), the market is down again. Just an overall sense of pessimism and fear right now. The rescue plan (im not calling it a bailout anymore) will start kicking in gear, and once all of the panic is gone and everyone that wants out is out (a few days away it seems), the market will be able to start looking up. Not drastically, but you'll see more green than red.

I agree. People selling at this point and getting out are just adding that last burst of fuel to the fire. I think it may be more than a few days away, but things will begin to stabilize.

[gta95]

Re: Dow drops below 10k

I'm seriously considering investing in the market soon. With all this talk about solar power I may just jump on while the price is low.

[mgoblue]

Re: Dow drops below 10k

I agree. People selling at this point and getting out are just adding that last burst of fuel to the fire. I think it may be more than a few days away, but things will begin to stabilize.

It'll just take a few weeks for banks to actually get the rescue from the bill, and for banks to start letting credit money flow. People are still freaked out and things don't turn around instantly in this type of situation. I think we'll slowly start climbing up and get a little better soon.

[CS10029]

Re: Dow drops below 10k

I'm seriously considering investing in the market soon. With all this talk about solar power I may just jump on while the price is low.

If I had the money to do so I absolutely would.

[SuperBowlNachos]

Re: Dow drops below 10k

People who are focusing on what the Dow is doing to determine the effectiveness of the bailout really need to spruce up on their economic knowledge. Do you understand what is happening in the world markets right now? Do you understand all the components that are driving the Dow?

Most people, myself included, probably have no idea how the DOW works and what all that stuff really means

[callmetaternuts]

Re: Dow drops below 10k

Today should be a better day market wise, time to digest alot of info and see if all of the sellers are out

[fishepa]

Re: Dow drops below 10k

I agree. People selling at this point and getting out are just adding that last burst of fuel to the fire. I think it may be more than a few days away, but things will begin to stabilize.

That is whats stupid about the stock market. If everyone got together and said "Hey, let's turn this thing around and quit selling everything" the market would turn back up. Everyone follows everyone else's lead and it just makes it worse. They need to act as one.

[fistofrage]

Re: Dow drops below 10k

That is whats stupid about the stock market. If everyone got together and said "Hey, let's turn this thing around and quit selling everything" the market would turn back up. Everyone follows everyone else's lead and it just makes it worse. They need to act as one.

Its like watching the lemmings isn't it?

[SPTO]

Re: Dow drops below 10k

I just hope this collapse in the markets last til at least the 14th.

There are reasons for my wish but I can't state them here.

[OSUFan_88]

Re: Dow drops below 10k

Its like watching the lemmings isn't it?

Yes, yes it is.

I can't believe some of these dumb asses actually do this stuff professionally.

[dagger55]

Re: Dow drops below 10k

Today should be a better day market wise, time to digest alot of info and see if all of the sellers are out