now percariously perched @ 7K
(I am guessing a big rally sold into by big & small fish alike, soon enough)
2007 I estimated the low would rest around 6K, but the speed & uniformity of the decline I am re thinking my assumtions to how ugly this could be for stocks
does anyone think we could see a 30% shave from these levels?
"We will not have any more crashes in our time."
- John Maynard Keynes in 1927
honestly I really thought we found a good level of support at the 7500 mark....if we lost another 30%, I really fear the thought of my own future and the struggles I will have come that time. Reason being, that would have this "recession" lasting at least into the early part of 2010. And I am not just saying the rulting effects on the workforce, unemployment, cost of living ect....but with the market normally reacting a good 6months before the rest of the nation, it will take another 6 months to rack up a -30% markdown in the DJIA from here, then the stabilization and building of support, then a turn around....I really hope this is the newest level of support, and this doesn't roll on for another year and a half. I like many others I am sure, will have trouble surviving! Well, at least my economic stimulus bonus went down this year...thanks BHO!!
ya keynes lol, infortunately he was only looking at one side of a highly dynamic situation...
another funny thing is that keynes thought that "we" fallable creatures could outright control things to a T, another huge misstep, people can only influence, unfortunately another fine example fo chasing zero risk... plain stupid...
there are many out there saying that things will go a lot lower, then again there are those out there also saying that we have already bottomed out, but enfortunately these latter folk are usually the same ones trying to spur bubble economics and fail to look at more then a few convenient variables... imo
When this all started I predicited a low of 7000, looks like I was too optimistic. From what I've read if it breaks below 7000 there is nothing stopping it to drop below 6000. Same predicitons would be the S&P around 450-550.
Over the weekend I was reading how many fundamentals are eeerily similar to the '87 crash. Not the past six months, but the past few days leading up to the big point drop that day.
Could we see 1000 points shaved in a day? Maybe. If Citi/BOA/WF or another biggie goes broke it would take a few points off the Dow, but the panic would possibly cause a run on all banks and break a few more who are holding on at the moment.
Every time Obama opens his mouth it drops hundreds of points it seems. He is giving a big speech tomorrow. 6800 for the close Tuesday?
When this all started I predicited a low of 7000, looks like I was too optimistic. From what I've read if it breaks below 7000 there is nothing stopping it to drop below 6000. Same predicitons would be the S&P around 450-550.
Over the weekend I was reading how many fundamentals are eeerily similar to the '87 crash. Not the past six months, but the past few days leading up to the big point drop that day.
Could we see 1000 points shaved in a day? Maybe. If Citi/BOA/WF or another biggie goes broke it would take a few points off the Dow, but the panic would possibly cause a run on all banks and break a few more who are holding on at the moment.
Every time Obama opens his mouth it drops hundreds of points it seems. He is giving a big speech tomorrow. 6800 for the close Tuesday?
the banks dont even have to go under, the stupid govt just bringing up the subject causes them to take a dive, fear of nationalization and further shareholder dillution .... when the govt is first in line for claims against a firm you are pretty far back even if you stand second
Chris Dodd is trying to pass legislation to allow the FDIC to get a $500B loan from the Treasury. Even until it passes, they can get $100B more immediately.
Perhaps a monster siezure on their typical Friday afternoon tomorrow? Is some biggie that starts with a C going to zero before the weekend?
Chris Dodd is trying to pass legislation to allow the FDIC to get a $500B loan from the Treasury. Even until it passes, they can get $100B more immediately.
Perhaps a monster siezure on their typical Friday afternoon tomorrow? Is some biggie that starts with a C going to zero before the weekend?
Chris Dodd is trying to pass legislation to allow the FDIC to get a $500B loan from the Treasury. Even until it passes, they can get $100B more immediately.
Perhaps a monster siezure on their typical Friday afternoon tomorrow? Is some biggie that starts with a C going to zero before the weekend?
ya... when the largest employer in the country is the country you know that it's no longer a democracy...
the DJIA
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