Dow drops below 10k

[SPTO]

Re: Dow drops below 10k

Yikes, when was the last time the Dow was below 9,000 points?

[callmetaternuts]

Re: Dow drops below 10k

I never guaranteed anything, i just thought with all the info out there, the passing of the rescue plan, the rate cut, the panic dying down (or so i thought) we would see a better day.

Ill gladly eat crow, i was wrong. It was just a hunch, nothing behind it. Im sorry to see our economy do this......its terrible

[callmetaternuts]

Re: Dow drops below 10k

Yikes, when was the last time the Dow was below 9,000 points?

Looks like the tech bubble back in 2003 (week of June 23 i believe). amazing stuff. This is (hopefully) once in a life time stuff. Buckle up folks, it looks like we have alot more info and fear/panic to digest.

On a sincere note, i hope all you OS'ers out there make it through these tough conditions alright. We always wish well on bad weather, this, to me, has more impact.

[OSUFan_88]

Re: Dow drops below 10k

WTF happened?

It was hovering around -100 all day, and I turn it on at 4 and all of a sudden, it's down almost 700 points!

[superjames1992]

Re: Dow drops below 10k

WTF happened?

It was hovering around -100 all day, and I turn it on at 4 and all of a sudden, it's down almost 700 points!

I believe there was talk of another bailout and that the government was going to buy stakes in banks (aka nationalize them), which has caused the market to panic. At least that is what I perceive to be going on, though I could be wrong.

[OSUFan_88]

Re: Dow drops below 10k

I believe there was talk of another bailout and that the government was going to buy stakes in banks (aka nationalize them), which has caused the market to panic. At least that is what I perceive to be going on, though I could be wrong.

So because something MIGHT happen, the DOW goes into a crazy nose dive?

Seriously, people on Wall Street make me want to go Rambo on their ***.

[SPTO]

Re: Dow drops below 10k

I think it'd be a good idea to Nationalize the banks or at least a couple of them. Canada has a national bank but it's not that powerful. I'd like to see how the Euros do with their plan of partially nationalizing their banking system before the US even gets to that point.

[superjames1992]

Re: Dow drops below 10k

So because something MIGHT happen, the DOW goes into a crazy nose dive?

Seriously, people on Wall Street make me want to go Rambo on their ***.

It happens all the time, such as oil. If there was peace in the Middle East, oil prices would be a lot lower now. For example, when tensions with Iran flare without any military action being taken, the crude oil prices go up. If a hurricane might knock out some of the oil supply in the Gulf of Mexico, oil prices go up a few days in advance due to the fears. This happens in the market too.

We may not like it, but it is the way it is.

[Brandon13]

Re: Dow drops below 10k

I don't think this is close to bottoming out yet.

[jct32]

Re: Dow drops below 10k

I think it'd be a good idea to Nationalize the banks or at least a couple of them. Canada has a national bank but it's not that powerful. I'd like to see how the Euros do with their plan of partially nationalizing their banking system before the US even gets to that point.

If we nationalize the banks Andrew Jackson might come out of his grave.

[callmetaternuts]

Re: Dow drops below 10k

Its all speculation (the market and what happens). If anyone had the answer, we wouldve solved it, but this is unchartered territory and all we (the gov't and economy) can do is try its best shot, and if that doesnt work, move on to the next solution. Until the speculation ends and the panic stops, it will be a rough ride.

[fistofrage]

Re: Dow drops below 10k

Last thing I'd be doing right now is selling, as soon as common sense takes back over and the panicking stops, it will settle back in between 10 and 11.

[OSUFan_88]

Re: Dow drops below 10k

Last thing I'd be doing right now is selling, as soon as common sense takes back over and the panicking stops, it will settle back in between 10 and 11.

Which is why the whole DOW process is stupid. It's a bunch of people that at the first sign of trouble, crash the economy.

[bkfount]

Re: Dow drops below 10k

I'm just looking at all the drops and wonder which US auto making giant will go under first. Ford or GM?

[SPTO]

Re: Dow drops below 10k

I'm just looking at all the drops and wonder which US auto making giant will go under first. Ford or GM?

GM has been on a lot more shakier footing then Ford IIRC. I think you're right in your thinking though. There's definitely going to be a few Gold Standard US institutions going down the drain after all this is over.