Under 10,000...

Discussion in 'Politics' started by B_VinylBoy, Oct 6, 2008.

  1. B_VinylBoy

    B_VinylBoy New Member

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    Damn.
    I know that the supposed bailout and any affects that it may have on our economy may not be felt for a while. And I know that the day in stock trading isn't over yet. But as of 11:25AM this morning, the Dow dipped below 10,000. I don't even remember the last time the Dow was this low. DJIA - Google Search

    I don't feel it as much because I don't make a lot of money anyhow. But my partner, in this year alone, has lost more than twice what I make in a year. This is not good at all. Fuck all these conspiracy theories about ties to terrorism, pipelines to Alaska and bridges to nowhere. It's been said several times and it needs repeating... IT'S THE ECONOMY, STUPID!!!

    I'm sick of the pointing fingers. At this point we know that each side fucked up, Democrat and Republican, and regardless of who did it more than the other it's time to correct it all. :mad:
     
  2. B_starinvestor

    B_starinvestor New Member

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    [applause] A nonpartisan post? Well done.

    I agree. The selloff today is due to fear in the European and Asian credit markets. Int'l markets sold off fairly hard overnight.

    Right now, there is just panic selling. People tend to trade on emotions - fear and greed.
     
  3. Phil Ayesho

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    Vote McCain for more of the same.
     
  4. B_24065

    B_24065 New Member

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    Vote Obama if your a blind idiot.
     
  5. lucky8

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    Don't worry, it will rise tomorrow by 200-250...and then fall again...
     
  6. Drifterwood

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    That's called a dead cat bounce isn't it?

    Confusion and uncertainty, and companies can't make money if people haven't got any to spend.
     
  7. B_Nick8

    B_Nick8 New Member

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    It's still down 600 points, lowest since 2004.
     
  8. B_Monster

    B_Monster New Member

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    I guess you'll be voting Obama :eek:


     
  9. lucky8

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    Exactly. Our elected officials don't seem to understand that yes, this was mostly caused by the housing bust, but the housing bust was caused by the fact that A)we make the same amount of money we did 5 years ago B)the amount of money we make and have now isn't worth even close to what it was 5 years ago and C)EVERYTHING has increased in price except the McChicken. You can't blame the people for the depreciation of their money. Prices have inflated, our money has depreciated in value, leaving us even less money than we would have 5 years ago, when many of these loans were signed. These next few years are going to suck
     
  10. D_season 5

    D_season 5 Account Disabled

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    you guys seem to be able to repeat verbiage well...however, this could of been a great day for CAPITULATION...but...it was thrawted...with talk of lowering interest rates...

    there are massive margin calls being sent out and some are just selling to try to meet margin calls...and i would suspect when all this selling is done...then we should see CAPTIULATON...and CAPITULATION...is reached at the close...and the closes on the lows of the day...

    regardless of who in at 1600....the wheel is already in motion for this market to go much lower...and before it does that...a dead cat bounce of 800-1000 points on the upside is expected...sell that rally...either by doing a reversal...no use to do a conversion with i-rates so low...
    also, synthetic put strategies are perfect in this kind of market...
    short stock, buy calls in either a 1-2 ratio, 3-1 ratio or 2 x 5 ratio or 3 x 5 ratio....depends on the delta of the option...and all stock trades at a delta of 100...so the math is simple...
    any questions?....here to help...
     
  11. Drifterwood

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    Especially because one solution being discussed is hyper inflation to reduce the relative value of the toxic debt. Oh yeah, 1% interest on your savings and 10%+ inflation. There will be no point having any cash savings. Every route out of here is going to be very painful.
     
  12. lucky8

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    Yes, I am pissed...most of my income is made off of savings interest...
     
  13. D_season 5

    D_season 5 Account Disabled

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    ALSO...there is a vote coming up for a CONSTITUTIONAL CONVENTION...
    if we can...and we is..WE THE PEOPLE...we can finally clean house with all these bad people who create bad problems and have no culpability...ie Barney Frank, Chris Dodd, most of the Senate and Congress who were on the take with Freddie Mac and Fannie Mae...giving them 100's of thousands of dollars...its the biggest swindle in this country ever...
    and to put Henry Paulson in charge of all this...its like 1929...when Joe Kennedy was put in charge of the SEC...Joe...for those that don't know..was one of the top 5 largest short sellers in the USA prior to the crash...
    the day after the crash...he and his other co conspirators...make a public statement...saying " i have so much confidence in the stock market..i am going in today and buying shares." not a direct quote..but...its the statement...for what he left out...was that he was buying back all of his short sales...which would make him flat..no position in the market..after that rally...for the next few years the market keep sinking until the country was finally in the GREAT DEPRESSION...

    this bail out...was no bailout..if was a get out of prison free card...there now is no one to blame for all this mess...and yet...we all know who they are...

    as for Mc Cain and Bush...for the last 2-5 years...Bush has been asking Congress to put the brakes on Fannie Mae and Freddie Mac...all fell on deaf ears...so...anyone want to take issue with this Congressional record?
     
  14. B_New End

    B_New End New Member

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    AFAIK, dead cat bounces are from the demand caused by shorts deciding to cover their positions.

    Where are all the bialout chearleaders? Isn't everything supposed to be good now?

    Oh, BTW, the Fed has printed about $1 Trillion dollars more in the past 2 weeks.

    Look at it this way, the massive inflation will make your current debts seem like nothing.
     
    #14 B_New End, Oct 6, 2008
    Last edited: Oct 6, 2008
  15. Notaguru2

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    Thanks Bush & McCain for ruining our portfolios! Judging by the latest polls, the rest of America is grateful too...
     
  16. B_Nick4444

    B_Nick4444 New Member

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    it closed below 10,000

    do not confuse the market for the economy


     
  17. Drifterwood

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    and your savings if you were silly enough not to get into debt and your wages if you still have a job.

    Did you see the Economist?
     

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  18. B_VinylBoy

    B_VinylBoy New Member

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    I know the difference. But they're both related in some fashion.
     
  19. B_New End

    B_New End New Member

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    Another 500 pt drop today.
     
  20. catman

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    Saw my first McCain shirt today...

    and was baffled...
     
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