Dow drops below 10k

[callmetaternuts]

I figured starting another financial crisis thread couldnt hurt. For the first time in almost four years, the Dow dropped below 10k. Hasnt closed below 10k since Oct 26, 2004. Its a brutal day out there, just try and weather the storm.

Be diligent in what you buy, just like the gov't and market should be doing, be sure to do your due diligence. Dont panic, dont hoard, but be smart. We havent even seen all of the fallout yet, but we've recovered 2-3 times before, this wont be any different. The market works in cycles, and we are clearly on the downward trend.

[MassNole]

Re: Dow drops below 10k

Great advice, too bad the news media is too stupid to follow it and is seemingly getting their rocks off by creating a false hysteria.

[fistofrage]

Re: Dow drops below 10k

Yeah, but once this shakes out and hits bottom, the market should recover rather quickly. There is more than $1 Trillion in capital reserves waiting to be invested. People just don't know where to put that money right now. Once they get a clearer indication, you will see some industries shoot up quickly. Get on board early and enjoy the ride back up.

[stewaat]

Re: Dow drops below 10k

I'm looking for some good buying opportunities here. Good gains are on the horizon if you do your DD.

[fishepa]

Re: Dow drops below 10k

Apple is looking good to me.

[callmetaternuts]

Re: Dow drops below 10k

Due Diligence is one of the toughest things to do in any forum (dating, investing, cars, eating etc). It requires you doing your homework and looking beyong the polished surface, btu finding out what lays below, track records, management etc. Its not always fun, but its rewarding.

[stewaat]

Re: Dow drops below 10k

Apple is looking good to me.

People are freaking out because of Jobs' health condition. I don't get it. Do people think he is the only person with a brain at the company? It's not like he comes up with every single idea they have.

[EWRMETS]

Re: Dow drops below 10k

Great advice, too bad the news media is too stupid to follow it and is seemingly getting their rocks off by creating a false hysteria.

Since what's happening now with the financial sector and stock market is unprecedented, I wouldn't call it a false hysteria.

[dave374]

Re: Dow drops below 10k

Great advice, too bad the news media is too stupid to follow it and is seemingly getting their rocks off by creating a false hysteria.

What is the media supposed to do? Not cover the story?
Maybe if someone had found out about this house of cards three years ago, and the media went nuts, none of this would have happened.
I always love it when people blame the people for creating this "hysteria."
The media doesn't speculate on the price of oil, the media didn't deregulate the markets to the point where Mr. Burns seems like a nice guy, the media didn't give out mortgages to homeless people, etc...

[SPTO]

Re: Dow drops below 10k

Hopefully this is part of a quick (tho I doubt it) market correction.

[fistofrage]

Re: Dow drops below 10k

What is the media supposed to do? Not cover the story?
Maybe if someone had found out about this house of cards three years ago, and the media went nuts, none of this would have happened.
I always love it when people blame the people for creating this "hysteria."
The media doesn't speculate on the price of oil, the media didn't deregulate the markets to the point where Mr. Burns seems like a nice guy, the media didn't give out mortgages to homeless people, etc...

The writing was on the wall for a while. It was reported, just not mainstream. The mainstream chose not to pick up on items in different business journals. They chose to scare you with the "bird flu" instead. They will only pick up stories that scare or threaten people the most at that time. When the stock market was at 14000, stories of possible pending collapse were all over economic journals. But mainstream news wasn't pickingh it up because they chose not to.

The hysteria already happened, the market speaks for itself. You don't need a second rate news source to tell you that. But what they will do is feed on the fears of people now. Its what they do best. Its all fear factor.

If you analyze the situation, any situation, become informed and then make informed choices, you will be way out infront of the Panic Propaganda that the local rag is feeding Joe Public.

[callmetaternuts]

Re: Dow drops below 10k

Since what's happening now with the financial sector and stock market is unprecedented, I wouldn't call it a false hysteria.

This exact scenario might be unprecedented but the stock market dropping like this isnt. This has happened with the Great Depression, Black Monday and 9/11. Minus 9/11 all were results of market irregularities, lack of regulations and oversight, hence many changes in how programs are administered and governed

What is the media supposed to do? Not cover the story?
Maybe if someone had found out about this house of cards three years ago, and the media went nuts, none of this would have happened.
I always love it when people blame the people for creating this "hysteria."
The media doesn't speculate on the price of oil, the media didn't deregulate the markets to the point where Mr. Burns seems like a nice guy, the media didn't give out mortgages to homeless people, etc...

Three years ago, or three years from now, this problem is/was big. It has nothing to do with media hype, but with everyone (us, media, neighbors etc) predicting the end of times is a bit absurd. Its bad, it sucks, its not good, but its not the end. See it for what it is, lets not try to make this the biggest thing ever. Thats what our generation does, we over dramatize everything because we as a society are so de-sensitized. If we dont blow things out of proportion (notice how everything is the best thing ever or worst thing ever) no one would notice, so we are forced to over-exaggerate and blow things up to get points made

/tangent

[MassNole]

Re: Dow drops below 10k

Since what's happening now with the financial sector and stock market is unprecedented, I wouldn't call it a false hysteria.

Come on, we both know what precedent is and this is not unprecedented. Granted this is a new way for banks to screw up, but it isn't like they didn't have to be bailed about less than 20 years ago with the S&L scandal. The market took a bigger dip back then based on percentages.

What is the media supposed to do? Not cover the story?
Maybe if someone had found out about this house of cards three years ago, and the media went nuts, none of this would have happened.
I always love it when people blame the people for creating this "hysteria."
The media doesn't speculate on the price of oil, the media didn't deregulate the markets to the point where Mr. Burns seems like a nice guy, the media didn't give out mortgages to homeless people, etc...

There is a difference between reporting the news and sensationalizing the news for ratings. The coverage of the current events is very much on the sensationalizing side of the fence. Perhaps if we had more investigative reporters covering real news instead of what Britney Spears had for lunch, this would have been uncovered earlier. But we are where we are, and like it or not a lot of this hysteria has been largely generated been overreporting and scare tactics that have been employed by the news media for years. To make matters worse today a lot of the news outlets have political agendas behind there reporting, which only makes the sensationalism worse as they use their coverage as a political vehicle to pump up their side and demonize the other side.

[SlimKibbles]

Re: Dow drops below 10k

Great advice, too bad the news media is too stupid to follow it and is seemingly getting their rocks off by creating a false hysteria.

That always seems to be their M.O. I'd wonder what was going on if the media wasn't inducing panic, or blowing something way out of proportion, every day. This situation is obviously bad but instead of reporting something like taternuts posted originally, it's much easier to say the sky is falling and we are doomed.

[dave374]

Re: Dow drops below 10k

The hysteria already happened, the market speaks for itself. You don't need a second rate news source to tell you that. But what they will do is feed on the fears of people now. Its what they do best. Its all fear factor.

I can speak from first-hand experience here. I am a newspaper editor.
I can tell you honestly - we don't run stories to scare people. We run stories we think they'll read. Period.
I can never remember telling a reporter - not even once - to slant a story for sex or disaster appeal. 99% of the stories you read, honestly, are just a reflection of what's happening out there.
I know a lot of people see the media as liberal, but you'd be shocked at how surprisingly balanced many newspaper staffs are. Hell, my co-worker is a conservative Christian. She believes in end times ... and thinks this is it.

Feel free to ask me questions about your perceptions of the media.