Dow drops below 10k

[fistofrage]

Re: Dow drops below 10k

So now making profits hurts the economy? I'm really wishing I had bought some stuff low.

Now's your chance.....

[Cletus]

Re: Dow drops below 10k

Now's your chance.....

can I borrow a couple grand?

[USF11]

Re: Dow drops below 10k

can I borrow a couple grand?

Wait until 7500 That would give u a 50% retracement from the high. Technically thats what you expect.

Oh yeah I think some predicted this drop on monday! That would be me.

[MassNole]

Re: Dow drops below 10k

So lets see tomorrow we can expect a jump. probably 300-500 points, followed by big Friday sell off. I wish I had money to invest right now.

[dave374]

Re: Dow drops below 10k

Incorrect, thats not whats wrong with the economy. Thats called taking profits, and people do it in every walk of life. The problem is much bigger than one or two people. Its when EVERYONE sells just for panic's sake, not because one , two, or a hundred people take profits

I know Americans think of pure capitalism different than the rest of the world ... and I understand that ... but it's that kind of thinking that's created the economic nightmare.

I understand the "who dies at the end with the most money" argument, but it has clearly failed.

[stewaat]

Re: Dow drops below 10k

In FNM @ .96

I will dump at .90 and looking to sell at 1.08

[USF11]

Re: Dow drops below 10k

In FNM @ .96

I will dump at .90 and looking to sell at 1.08

Stewaat we might be kindred spirits first Atmosphere - now daytrading.

I have traded for nearly 6 years now. I am seeing opps all over the place. U gotta be real quick though.

From Technicals FNM .8 looks like the entry if it falls under .95 on the ask. Just a heads up.

[Brandon13]

Re: Dow drops below 10k

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

Unfortunately I was right. We're getting closer and closer to 7,000.

[callmetaternuts]

Re: Dow drops below 10k

THis has been unbelievable. Its been a steady, slow down trend on various fears and happenings. Who wouldve though in May of 08 (Dow at approx 13,800) that we would see the market lose almost 50% of its value

[davep]

Re: Dow drops below 10k

an easy way to make money when the market is tanking....

skf
dxd

[superjames1992]

Re: Dow drops below 10k

I can't say I'm surprised that the market went down again. Things said over the weekend likely caused this and now that the S&P crashed through resistant points (about 825), the bottom may be far, far away.

[SPTO]

Re: Dow drops below 10k

It's looking like the US Economy is in a bottomless abyss. It's a pretty vicious cycle as well what with banks not wanting to lend/give credit which causes people to hoard their money and not spend which causes the economy to grind to a standstill.

I heard this morning that the government wants a greater stake in Citigroup. If this allows for some lending and giving of credit then i'm all for it.

[USF11]

Re: Dow drops below 10k

It's looking like the US Economy is in a bottomless abyss. It's a pretty vicious cycle as well what with banks not wanting to lend/give credit which causes people to hoard their money and not spend which causes the economy to grind to a standstill.

I heard this morning that the government wants a greater stake in Citigroup. If this allows for some lending and giving of credit then i'm all for it.

The second wave of foreclosers hasnt even begun yet. Its gonna get really interesting.

[fistofrage]

Re: Dow drops below 10k

The second wave of foreclosers hasnt even begun yet. Its gonna get really interesting.

I wouldn't call it interesting. There were supposed to be mechanisms in place to stop this type of free fall. They failed. They need to get that money flowing out of the banks.

Here's the deal. My wife and I both work. I have an MBA, we make decent money. I have no credit card debt. However, my house's value has plummeted. I put down 20%, but my house has dropped 30%. So I no longer have equity.

I was just denied for a $5,000 loan by the bank. The bank lender that I was working with was also just denied a loan. Seriously.

Who is getting the loans? Stimulus? What Stimulus? I think the only person that could get a loan right now, probably wouldn't need these low Home equity loans.

[Brandon13]

Re: Dow drops below 10k

The Dow and S&P 500 closed at twelve years lows.