  Mauser765 Member Username: Mauser765 Post Number: 3037 Registered: 01-2004 |
Below 7000 today ? Its coming soon, is today the day ? Im sticking by my prediction that it will fall well below 5000. | ||
Cinderpath Member Username: Cinderpath Post Number: 945 Registered: 05-2006 |
Yep, looks like we're picking up where we left of Mauser, I predicted a bottom around 6500, I suspect you might be closer to the truth however. Looks like we've been on an extended bear market rally for quite some time. | ||
Gibran Member Username: Gibran Post Number: 4563 Registered: 02-2007 |
6915 as of now... | ||
Mauser765 Member Username: Mauser765 Post Number: 3038 Registered: 01-2004 |
dammit. | ||
Denbytar64 Member Username: Denbytar64 Post Number: 146 Registered: 03-2008 |
Thank you current administration...glad to see you got stimulated from the package. Stock market is the back bone of our economy...not the pork and payback for the peopole who voted for obama. | ||
Mauser765 Member Username: Mauser765 Post Number: 3039 Registered: 01-2004 |
Wall Street tumbles anew as financials slide By TIM PARADIS, AP Business Writer Tim Paradis, Ap Business Writer – 23 mins ago NEW YORK – The Dow Jones industrial average plunged below 7,000 Monday for the first time in more than 11 years as investors grow even more pessimistic about the health of banks, and in turn the economy. A staggering $61.7 billion in quarterly losses at insurer American International Group Inc. touched off fresh fears about the health of the nation's financial system. The worries pushed the blue chips below 7,000 for the first time since Oct. 28, 1997 and then below 6,900 for the first time since May 1, 1997. The credit crisis and recession have now slashed half the average's value since it hit a record high over 14,000 in October 2007. Investors are fleeing financials after the government said it would give AIG another $30 billion in loans, besides the $150 billion it has already injected into the company. Investors are worried about European financial companies, too. HSBC PLC, Europe's largest bank by market value, reported a 70 percent drop in 2008 earnings and said it needs to raise $17.7 billion and cut 6,100 jobs. "As bad as things are, they can still get worse, and get a lot worse," said Bill Strazzullo, chief market strategist for Bell Curve Trading. Strazzullo said he believes there's a significant chance the S&P 500 and the Dow will fall back to their 1995 levels of 500 and 5,000, respectively. http://news.yahoo.com/s/ap/200 90302/ap_on_bi_st_ma_re/wall_s treet | ||
Cinderpath Member Username: Cinderpath Post Number: 947 Registered: 05-2006 |
-Yes Obama inherited a great and functioning stock markets, with no problems in the financial sector, and Bush's plan with TARP was so great, Obama should have not had any problems right? Sorry but the Obama blame is not going to stick........ | ||
Mopardan Member Username: Mopardan Post Number: 211 Registered: 11-2008 |
"-Yes Obama inherited a great and functioning stock markets, with no problems in the financial sector, and Bush's plan with TARP was so great, Obama should have not had any problems right? Sorry but the Obama blame is not going to stick........" ============================== ================= Quite right you are CinderPath. It took a while to get into this, it will take a while to get out. And if any of these "critics" had been paying attention, Obama has said things will get worse before they get better. But in this age of instant gratification, too many people have lost patience and/or perspective of the bigger picture. I'm not a stock market wizard, but this is probably the time to start eyeing companies that are beaten down. From what I've gathered, CAT should benefit from some of the infrastructure projects. Check their 6mo chart: http://finance.yahoo.com/echar ts?s=CAT#symbol=CAT;range=6m Like anything, you only invest what you're willing or able to lose. Plus I'm not encouraging anyone to buy CAT, just using it as an example. For the time being keep your head low & keep pushing on. | ||
Ccbatson Member Username: Ccbatson Post Number: 19121 Registered: 11-2006 |
Don't think so? Give it time, the honeymoon will not outweigh the misery that results from socialism. | ||
Mauser765 Member Username: Mauser765 Post Number: 3040 Registered: 01-2004 |
we are in the process of recovering from corporate socialism. this involves putting stolen money back into the country, where it was taken from. sorry. | ||
Danny Member Username: Danny Post Number: 4534 Registered: 02-2004 |
YAY! Now here comes the Great Depression. Thanks a lot GREED and Thank you Republicans and Conservatives for make U.S. of A what it is today. People losing their jobs, homes and their lives. Corporate Socialism is DEAD! Let the Democratic Proletarian Socialism begin. | ||
20043_stotter Member Username: 20043_stotter Post Number: 814 Registered: 03-2007 |
Soon to be happening, Batman to begin paying some of my reduced taxes. | ||
Gannon Member Username: Gannon Post Number: 9073 Registered: 12-2003 |
Stotter, now you had to go and make it all personal and stuff?! Some of us had compassion on those who will have to soon suffer either an increase in taxation, or worse those who actually have to now pay taxes with their Bushie-loopholes gone, even hoping for the best for those who might get revealed as tax cheats by that big Swiss bank...but after looking at your first example, I say yes, OFF with their heads. Let them eat cake, first. What kind of cake do you like, Cc?! Certainly not humble pie. If we are what we eat, one bite and you might disappear. | ||
Flanders_field Member Username: Flanders_field Post Number: 1762 Registered: 01-2008 |
I find it difficult to muster sympathy for likely thousands of upper-class specialist professionals who think like these women do, and they probably have an accountant who can tell them how their income will be affected by Obama's tax plan: "We have to find a way out where we can make just what we need to just under the line so we can benefit from Obama's tax plan," she added. "Why kill yourself working if you're going to give it all away to people who aren't working as hard?" "The attorney says that in order to decrease her income she'll have to let go of clients, some of whom she's been counseling for more than a decade." "This means I'll have to tell some of my clients we can't help them and being more selective in general about who we help," she said. "I hate to do it." ... "Dr. Sharon Poczatek, who runs her own dental practice in Boulder, Colo., said that she too is trying to figure out ways to get out of paying the taxes proposed in Obama's plan." "I've put thought into how to get under $250,000," said Poczatek. "It would mean working fewer days which means having fewer employees, seeing fewer patients and taking time off." Wealthy Idiots Meet Idiot Reporter  | ||
Jimaz Member Username: Jimaz Post Number: 6731 Registered: 12-2005 |
So much for professionalism. | ||
Ccbatson Member Username: Ccbatson Post Number: 19147 Registered: 11-2006 |
Flanders, you just have a hard time the truth that without incentive, productivity declines, quality decreases, efficiency going down drives up costs...in a nut shell this is why socialism (and liberals like Obama) are doomed for failure. The real injustice is that those that don't want this kind of system are forced to suffer under it...and enough victims have been fooled into asking for it (voting for it). | ||
Rb336 Member Username: Rb336 Post Number: 8608 Registered: 02-2007 |
"you just have a hard time the truth that without incentive, productivity declines" yet, the american workers have increased their productivity while their pay and benefits have been slashed -- not to help the company bottom line, but to fatten the purses of upper management. what, exactly, do those people Flanders described produce? fake securities, insurance policies masquerading as securities, a false sense of security? they produce nothing more than a series of bubbles | ||
Ccbatson Member Username: Ccbatson Post Number: 19160 Registered: 11-2006 |
Because the system does not prohibit future rewards for an individual's labor....until Obama, that is. We can put up with a lot and defer gratification so long as it is a deferral, not a permanent surrender. | ||
Flanders_field Member Username: Flanders_field Post Number: 1765 Registered: 01-2008 |
And exactly how does a higher tax rate after a quarter million in annual earnings prohibit future rewards? Oh, that's right, it doesn't. | ||
Dougw Member Username: Dougw Post Number: 1234 Registered: 11-2003 |
I'll throw in a snippet of a recent update from Mr. Morgan, which fits in pretty well on this thread. He's even more bearish than I am. He has some good points about Obama... I still have some hope that Obama will eventually do the right thing, but he really needs to fire Larry Summers, Tim Geithner, Robert Rubin, Bernanke and the rest of the rest of the Goldman-related "financial engineering" crew who created this mess NOW, and put some people in charge who actually have the long-term interests of the country at heart, such as Paul Volcker, Joe Stiglitz, etc. quote: | ||
Ccbatson Member Username: Ccbatson Post Number: 19184 Registered: 11-2006 |
Largely the wrong villains. Try Frank, Dodd, Clinton, Carter, Shumer, and Obama himself. | ||
Dougw Member Username: Dougw Post Number: 1235 Registered: 11-2003 |
If you think the current crisis is a simple Democrat vs Republican issue (which it appears you do), you're missing the boat. None of the guys I listed are aligned with one party or another. | ||
Ccbatson Member Username: Ccbatson Post Number: 19197 Registered: 11-2006 |
Sadly no...socialist versus capitalist. | ||
Cinderpath Member Username: Cinderpath Post Number: 952 Registered: 05-2006 |
Looks like the Dow might be making a comeback, its hard to tell if 6,493 was the bottom or not. I do know we have seen plenty of dead cat bounces the last 5 months....... The could be just that. There is a lot of cash sitting out on the sidelines right now. | ||
Johnlodge Member Username: Johnlodge Post Number: 9606 Registered: 10-2003 |
Apparently Citibank turned a profit in the first two months of the year. Wait, weren't they given money during that time? | ||
Ccbatson Member Username: Ccbatson Post Number: 19366 Registered: 11-2006 |
We can hope and pray, but unfortunately, the real indicators (unemployment, and GDP) are pointing in the opposite direction. This is likely a small blip in between downward trends. | ||
Ktkeller08 Member Username: Ktkeller08 Post Number: 38 Registered: 10-2008 |
we're probably just in a bear market rally right now. But with times the way they are, any news bad or... well OK news, since honest to goodness "good" news really doesn't exist these days, can move markets. Also, I know this post is about the Dow Jones Industrial 30, but I don't really think it's the best indicator of what the market is doing. I'd look at the S&P 500, which encompasses 500 companies rather than 30, and employs a value weighted points system, rather than the Dow's inaccurate price weighted one. | ||
Oladub Member Username: Oladub Post Number: 1302 Registered: 08-2006 |
After the Obama stock market went down 38.8%, a remarkable thing happened. Last Monday, March 9, President Obama suggested "that stocks are becoming a "a potentially good deal" for those willing to think long term." Then, like magic, the stock market took off. (chart) http://finance.yahoo.com/q/bc? s=%5EDJI&t=5d The President gave better investment advice than Cramer did last Monday. Yesterday, the President added that "the national crisis is "not as bad as we think" and his plans will speed recovery." Hillary did pretty good with cattle futures but Porkulus combined with the President's optimism have goosed the entire stock market. | ||
Ccbatson Member Username: Ccbatson Post Number: 19397 Registered: 11-2006 |
A small upward correction always follows huge drops. However, notice that the recovery is incomplete, and then the next wave hits. |
