Will the DJIA drop below 10,000 This Year? (10/6 Update: Welcome back, 2004!)

Yay for 9,000!

Do I hear 8,000?

Maybe Congress can waste a few more trillion dollars and they can get it down to 1,000 and then buy it all back for a profit.
 
This is damn depressing man. The foreign markets weren't even that bad. Honestly, what the hell is going on? The Fed isn't doing a damn thing right now. Their bailout failed, BIG TIME. Their inactivity is driving up fears. And now CNBC is saying it's a crash. I mean, damn, man. Damn.
 
Yeah, 8600. The economy isn't that much in the tank right now, at least around here. The Fed needs to suspend trading for a few days to calm people the hell down.
 
[quote name='Friend of Sonic']Realistically, how low can it drop before chaos/depression ensues?
Curious to know if we're close to the point of me needing to buy a gun.[/quote]

Around the same time you should have pulled your money out of the stock market.

Here's the thing: Unless you're ex-military or sober ex-redneck, you don't know how to use a gun automatically.

Buying a gun just before society goes to hell won't help. You need a good 3 months of intense training (boot camp) or a year of recreational training (gun club) before you have a chance of killing somebody other than yourself with a gun and know proper maintenance backwards and forwards.

Another thing to consider is that your gun purchase is tracked by the feds. If the feds are going to hunt somebody, they're going to go after gun owners first. Buying a bunch of canned goods with cash isn't tracked.

If you're really scared about the future, get some cash, buy a few weeks of food you would have eaten anyways and learn how to swing a bat, hammer or axe.

If you hide the food well enough, you survive. If you don't, you might starve. If you start waving a gun around, you die.

EDIT: What in the hell just happened? 8600? Did it drop 200 points in 10 minutes?
 
Right, right. I didn't assume I could kill anyone without properly being trained. It may be too late to go to a gun club for one year. Of course, my post was semi-sarcastic. But the underlying fear is pretty much true. I'm curious how our nation in these modern times would handle a depression. Rioting? Extreme violence?
 
[quote name='mykevermin']:rofl: :rofl: :rofl:

EDIT: Brother, can you spare a sealed copy of Disgaea?[/quote]

This is what happened with you let GQD reprint the stock market.
 
[quote name='Friend of Sonic'] I'm curious how our nation in these modern times would handle a depression. Rioting? Extreme violence?[/QUOTE]
Yes. One need only look at Argentina when they devalued. I would venture it would be even nastier here because, well, we're nastier people.
 
[quote name='Friend of Sonic']Realistically, how low can it drop before chaos/depression ensues?
Curious to know if we're close to the point of me needing to buy a gun.[/QUOTE]


Its not the gun, its the ammo you need to worry about.

I am probably picking up another one shrotly, maybe a 9mm or something to go along with my other two.
 
im glad the bailout has turned things around so well. were down 600 points today and under 9000 for the first time in 5 years.
 
So where is it headed tomorrow? I imagine a Holiday is coming real soon to stop this... and if it doesn't stop it then what?

Look at apples stocks cut in half in 3 months time! Unbelievable.
 
Here's a question for you guys. Was the bailout truly useless or did we need it? In other words, would we down even worse than 8500 if we didn't have the bailout?
Tough question to answer, I imagine.
 
[quote name='Friend of Sonic']Here's a question for you guys. Was the bailout truly useless or did we need it? In other words, would we down even worse than 8500 if we didn't have the bailout?
Tough question to answer, I imagine.[/QUOTE]

One we will never know the answer to though.
 
[quote name='Friend of Sonic']Here's a question for you guys. Was the bailout truly useless or did we need it? In other words, would we down even worse than 8500 if we didn't have the bailout?
Tough question to answer, I imagine.[/QUOTE]
The measure of a market, at its basest level, is rationality. We have been so irrational for so long that rational measures to counteract the past aren't enough. I don't believe there is a tool in the toolbox that can be used to slow this down. Well, not the normal tool set anyways.

I would shut the market down tomorrow. I would send that dumbshit president of ours onto TV, have him look straight into the camera, and tell everyone to take a fucking chill pill.

And when that didn't work, I'd move to Canada.
 
[quote name='fatherofcaitlyn']This is like the Ferengi auction of shame.

Selling to the lowest bidder.[/quote]

Indeed.

[quote name='Friend of Sonic']Am I seeing this right? 8579?[/quote]

Yessir.

[quote name='Friend of Sonic']Here's a question for you guys. Was the bailout truly useless or did we need it? In other words, would we down even worse than 8500 if we didn't have the bailout?
Tough question to answer, I imagine.[/quote]

Let's call it what it is...

It isn't a bailout, it's more like a GTFO.

http://www.dowjones.com/
 
I think we would be better off withOUT the bailout.

The whole point of rushing it was to stop what has been happening. The bailout was supposed to bring hope to wall Street so that it would only drop a little or stay even until the bailout started working. It's dropped about 200+ points ever day sense the bailout, and a total of what 1,500-2,000 points sense the bailout?

I think it would be better if we spent the 700 billion on buying stocks now because there must be some great deals. GM is at a 50 year low, good time to buy. Plus if the government bought all this stuff for so cheap that should increase their prices.
 
So should I really buy some of this shit? I wouldn't have too much to spend on it, but would that just be money lost for the impending apocalypse?
 
Well, without the bailout bill, it dropped 780 points. With it, it dropped around 800.

The problem I see with the bailout now is that they are not saying it's going to get better with it, and how they're using it. They're just kinda sitting back letting everything go to hell. It's called DAMAGE CONTROL, and they aren't doing any.
 
WOOO DOWN TO 2500.....


Man i knew i should of sold Blockbuster online when i had a chance to break even...

Got at 2.85 last i looked around 1.70 That is almost a 50% lost ........ Man im sad i lost 150 bucks : )


This is why i got out of the market big time years ago .... i would rather stay in CD's and make a low but steady return then to lose 50% in a week
 
[quote name='Ugamer_X']Soooo, who else bought GM at under $5 a share?[/QUOTE]

I'm not a fan of bottom fishing. GM has a horrible balance sheet, very poor product lineup, very poor cost structure, is highly dependant on the credit markets and on consumers who can get credit.....all very big negatives for GM, even at $5 a share.

Obiviously GM will bounce at some point, along with the rest of the market, but that bounce could very well come at $3.

Personally, for those that want to buy something but don't know exactly what to buy, I would recommend something like SPY, the S&P 500 ETF.
 
[quote name='Dead of Knight']IT'S UNDER 9000!

Actually, it's WAY under 9000. Jesus christ. You're doin' a heckuva job, Bennie.[/quote]It's UNDER 9000?! What the hell are we going to do now?

Seriously, it just seems as if the government made things worse, as the government typically does, so no surprise there. :applause:
 
[quote name='Dead of Knight']IT'S UNDER 9000!

Actually, it's WAY under 9000. Jesus christ. You're doin' a heckuva job, Bennie.[/quote]

Hey, my Avatar line has had you beat for a couple of weeks.
 
[quote name='slidecage']WOOO DOWN TO 2500.....


Man i knew i should of sold Blockbuster online when i had a chance to break even...

Got at 2.85 last i looked around 1.70 That is almost a 50% lost ........ Man im sad i lost 150 bucks : )


This is why i got out of the market big time years ago .... i would rather stay in CD's and make a low but steady return then to lose 50% in a week[/quote]


What's down to 2500?
 
[quote name='BillyBob29']I'm not a fan of bottom fishing. GM has a horrible balance sheet, very poor product lineup, very poor cost structure, is highly dependant on the credit markets and on consumers who can get credit.....all very big negatives for GM, even at $5 a share.

Obiviously GM will bounce at some point, along with the rest of the market, but that bounce could very well come at $3.

Personally, for those that want to buy something but don't know exactly what to buy, I would recommend something like SPY, the S&P 500 ETF.[/quote]


Very good points. I like the way you think. Don't buy something just because it's cheap with the hope that it will be higher later. That's especially true for inefficient American car companies. I'm glad I took alot of money out of the market over the last couple years. I don't know what to do with it but it's sitting in a nice ING savings account for the moment.
 
[quote name='slidecage']WOOO DOWN TO 2500.....


[/quote]


:lol: yes, the dow is at 2500, slidecage. better go start the smash and grab at your local wal-mart. If you have any family pets, start plumping them up 'cause dog and cat meat is going to become a luxury in a few days.
 
You guys talking about GM got me curious so I just checked some of its ratios on Reuters. Oh... my... god... I had no idea they were this bad off. I've heard they were borrowing $25 Billion from the government which looks like money down the drain to me. TTM interest coverage isn't even 1! It isn't even .1! I can only guess at the massive amounts of debt they must have. Earnings is negative. Profit margin is negative. ROE, ROA, ROI are all negative. I wouldn't pay $1 for this stock unless they replaced every member of management.

Some quick advice for you fundamental investors looking to get into the market right now. Stay away from companies that have a lot of debt. Stay far away from companies with interest coverage less then 3. Stay far FAR away from companies that have negative earnings and massive debt.
 
[quote name='bigdaddy']I think we would be better off withOUT the bailout.

The whole point of rushing it was to stop what has been happening. The bailout was supposed to bring hope to wall Street so that it would only drop a little or stay even until the bailout started working. It's dropped about 200+ points ever day sense the bailout, and a total of what 1,500-2,000 points sense the bailout?

I think it would be better if we spent the 700 billion on buying stocks now because there must be some great deals. GM is at a 50 year low, good time to buy. Plus if the government bought all this stuff for so cheap that should increase their prices.[/quote]

Well the bailout hasn't even started yet, it's rather difficult to call a plan a total failure until it's in acted in the next several months. The point of the bailout is to remove "toxic" subprime housing debt that will A. help free up funds and B. help convince banks to start loaning each other and companies money again so we don't have another depression through loss of liquidity.

Stock prices are dropping for a whole slew of reasons: the fact that the market has been overvalued for quite a while, that the world is heading into a global recession, that capital isn't easily obtainable, and that a whole lot of people are panicking as people tend to do when one-third of their nest egg is wiped off an imaginary tablet and they're set to retire within 5 years.


On the plus side the market tends to focus on the economic near future, so just imagine how great everything today will look 6 months from now.:D
 
[FONT=verdana, arial, helvetica]it's under nine thousaaaaaaaaaaaaaaaaaaaaaaaaaaaaaand

Vegeta.jpg

[/FONT]
 
[quote name='XxFuRy2Xx']
Seriously, it just seems as if the government made things worse, as the government typically does, so no surprise there. :applause:[/QUOTE]

Which makes you wonder why so many people continue to see government as the answer to so much.
 
My boyfriend informed me they got rid of mark-to-market for the banks in the bailout. As an accountant, I can say this will certainly end well (sarcasm).
 
What? You don't think that suspending the rule to price at market value and giving the treasury secretary authority to suspend and re-instate it at will will engender confidence in the market? Jeesh, how un-capitalistic of you.
 
In the first few minutes of trading today, the Dow plummets another 600+ points. It's currently below 8,000.

Gonna be a fun day.

~HotShotX
 
[quote name='Dead of Knight']My boyfriend informed me they got rid of mark-to-market for the banks in the bailout. As an accountant, I can say this will certainly end well (sarcasm).[/QUOTE]


Congrats on finishing school. Are you in public or private accounting? I managed to snag another analyst job last year with a privately held telecom company. We're actually doing pretty well.
 
[quote name='ninja dog']fucking rad.

The Great Depression 2: 2Great 2Depressing.[/quote]

The market will most likely have the worst week ever, it's better around over 100 years.

So fuck the old Great Depression, we are in a greater one!
 
I dunno about you guys, but the whole riding in old boxcars, seein the country, fending for oneself lifestyle is soundin' pretty good about now.
 
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