Dow loses 300, closes at 6700!!!

[ChTatum]

3 years, 10 months, and 10 days for the free-fall to free-fall. By then, we may all be calling each other comrade instead of brother.

(perhaps a little TIC, but not much)

[pelathais]

Originally Posted by 1Corinth2v4

My 10,000 shares @ Exxon are doing pretty good!


How's it going Bro. Cheeseman?

You lost $20,900.00 in the market today. I hope you have an amazing day job.

[EA]

Originally Posted by 1Corinth2v4

My 10,000 shares @ Exxon are doing pretty good!


How's it going Bro. Cheeseman?

Originally Posted by pelathais

You lost $20,900.00 in the market today. I hope you have an amazing day job.

For the life of me, I can't understand why people come on AFF (or any internet site) and misrepresent themselves.

Some folks just need to get a life.

[1Corinth2v4]

Originally Posted by pelathais

You lost $20,900.00 in the market today. I hope you have an amazing day job.

Up 138%

[pelathais]

Originally Posted by 1Corinth2v4

Up 138%

Down 4.39% today. Do the math.

Your "10,000 shares" were trading at $67.00 a share when the market opened this morning. Your shares were worth $670,000.00.

At the closing bell this afternoon you had lost 4.39% or between $2.08 and $2.09 per share. Your stocks were worth (with rounding) $649,200.

You lost:

670,000
-649,200
20,800 dollars today

[tbpew]

Originally Posted by Edward Anglin

I thought the bottom of this free-fall would be 6500, but we may go even lower.

Also, the House is debating another emergency spending bill of 410 billion dollars - as we speak.

I thought 7600 was the sensible bottom considering that was its level around 1996. The last 12 years have been so fueled by speculation rather than performance. THE WHOLE investment world seems to have looked to Las Vegas for counsel. What sensible evidence exists to suppose that real wealth was establishing markets for industrial production (as viewed by the valuation of the Dow 30) that would support corporate industrial plant equity to double in value?

IMO, HEALTH CARE spending (20+% of our GNP) does NOT produce any real NET WEALTH.

Price/Earnings ratios should mean something.
Instead, the world's economy was fueled on Twinkies and soda through:
-the vapor of internet companies (betting on IPO's)
-residential property values doubling every 3 years
-oil and gas futures driving a barrel of oil from 45 1o 145 in a 12 month period.

Some where along the way the last 10-12 years have been either been run by 28 year old, gameboy-trained idiots
OR
some well placed puppeteers are laughing so much they got their strings all tangled up.

No matter what the cause, we are in this world and will be impacted by its prosperity and by the forces of greed and covetousness. We need to define the principles that we can live that transcend economic booms and busts, capitalism and socialism, republics and totalitarianism.

After all the folly finds equilibrium, it seems that the USA will have to emerge as a regional economic organism that actually does build stuff that other people who are building different things, either want or need. That shift will inherently come with a further devaluation of national identity. Is that a problem for any of us? If so, why?

Bailing out those who profitted from horrible gambling in speculation-fueled appreciation of real estate markets is a national tradegy.

[Digging4Truth]

The day will come that this market will yearn for the good ole days of 6500.

[StillStanding]

IMO, Obama is directly to be blamed for this latest free-fall in the market.

Instead of focusing on our deepening financial crisis, he is trying to use his popularity and political clout to force in his welfare state agenda. The US can't afford both a needed money influx to strengthen our economy and the world economy, and the money needed to finance his welfare state.

Foreign banks are being asked to invest to make this happen. Foreigners will invest in our market system because it will help the world economy too. They do NOT want to invest in our welfare system.

It's kind of like loaning money to your neighbor to help bail him out because he lost some income. You wouldn't give him EXTRA money to remodel his home too!

Obama needs to focus on the crisis at hand. There is four years left to try to install his political agenda!

[tbpew]

Originally Posted by Mr. Steinway

IMO, Obama is directly to be blamed for this latest free-fall in the market.

Instead of focusing on our deepening financial crisis, he is trying to use his popularity and political clout to force in his welfare state agenda. The US can't afford both a needed money influx to strengthen our economy and the world economy, and the money needed to finance his welfare state.

Foreign banks are being asked to invest to make this happen. Foreigners will invest in our market system because it will help the world economy too. They do NOT want to invest in our welfare system.

It's kind of like loaning money to your neighbor to help bail him out because he lost some income. You wouldn't give him EXTRA money to remodel his home too!

Obama needs to focus on the crisis at hand. There is four years left to try to install his political agenda!

I think, he is thinking, he fell into the greatest transition window that he or Michelle could ever have imagined....massive deficit-fueled spending in public programs being cloaked in economic seed/stimuli terms.

I do not believe that the Obamas (Barrack and Michelle) were proponents of an America made strong on an economic platform of captialism. It would not surprise me if two folks living in an apartment on the second floor of 1600 Pennsylvania Ave may appear a little drunk with giddiness.

[tbpew]

Originally Posted by Digging4Truth

The day will come that this market will yearn for the good ole days of 6500.

I wonder what an investment world will look like if there is a prolonged hiatus from commerical paper. Pension funds will still need to go somewhere?

What does it mean when pensions fail in large numbers and state governments are dragged into a vortex? Who is the insurer of pension funds?

just wondering some things....