Looks to be a day to watch the markets...

[stanb999]

The futures limited down.

This means that they stopped all selling at a lower price till open. So it should be a day to watch. The market brave-hearts on CNBC are saying it's too late to get out. So if your still in stock. Your done. They are saying DOW 5000 is in the cards. Now it can't get their in a day. But by mid week it may.

This could very well be a day your great grandchildren learn about in 100 years. The great credit market implosion and stock market crash of 08.

Get some popcorn. Enjoy the ride. Their isn't a darn thing to do.

[bowdonkey]

I don't have to worry, mine went with Conseco.

[JGex]

"Down, down, down
to a Burning Ring of Fire......... "

And we're off with the Dow plummeting right off......

[JGex]

"Today might be the day where everybody throws in the towel," Peter Cardillo, chief market economist for Avalon Partners, tells CNNMoney

http://money.cnn.com/2008/10/24/mark...ion=2008102406

[diane]

Why? What makes today different than yesterday? As you can tell, I don't understand the stock market. I don't understand what would drive it down today. I don't recall hearing anything all that bad yesterday except for Greenspan.

[mpillow]

I was thinking of Tom Petty "Free Falling".....

[chris30523]

Originally Posted by diane

Why? What makes today different than yesterday? As you can tell, I don't understand the stock market. I don't understand what would drive it down today. I don't recall hearing anything all that bad yesterday except for Greenspan.

If they could predict what people would do they could be millionairs.All it takes some days is for one person to yell "fire" and everybody runs.I think the foreign markets are the ones who yelled fire this time.It'll probably be up around noon and close down again at 4:00.

[ladycat]

Hong Kong is down more than 1100 points!

[Razorback21]

A lot of people say this downturn is psychological....and guess they are right if this fear is based on just observing the sheeple. I believe however, that the fear is based on the fact that they are actually looking over the edge of the cliff.

[ladycat]

Originally Posted by mpillow

I was thinking of Tom Petty "Free Falling".....

Me too.

YouTube

[Txsteader]

You know things are bad when the media starts using the term 'bloodbath' in their reports. So far, though, things seem to be holding in the -350 range.

[JGex]

Y'all know today is 79 years TO THE DAY of Black Thursday, right?

October 24, 1929

The Wall Street Crash of 1929,[1][2] also known as the ’29 Crash,[3] the Crash of 1929,[4] the Great Crash of 1929,[5] the Great Crash of October 1929,[6] the Great Wall Street Crash of 1929,[7] 1929 Great Crash,[8] or the Great Crash, was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and longevity of its fallout.[9]

Three phrases - Black Thursday, Black Monday, and Black Tuesday - are used to describe this collapse of stock values. All three are appropriate, for the crash was not a one-day affair. The initial crash occurred on Black Thursday (October 24, 1929), but it was the catastrophic downturn of Black Monday and Tuesday (October 28 and 29, 1929) that precipitated widespread panic and the onset of unprecedented and long-lasting consequences for the United States. The collapse continued for a month.

Just a little history to cheer everyone up.....

[Razorback21]

Originally Posted by JGex

Y'all know today is 79 years TO THE DAY of Black Thursday, right?

October 24, 1929

Just a little history to cheer everyone up.....

JGex,
I actually posted this on another forum, and it is so ironic. The title of the thread was "Is 2008 as bad as 1929?"

My Answer:
"Dow Jones September 3, 1929 381.4 to October 29, 1929 260. 31.8% down over 50 days.

Dow Jones August 28, 2008 11715.18 to October 22, 2008 8519.21 28.3% down over 55 days

Yeah, no debate...It is as bad as 1929.

[Aintlifegrand]

Originally Posted by diane

Why? What makes today different than yesterday? As you can tell, I don't understand the stock market. I don't understand what would drive it down today. I don't recall hearing anything all that bad yesterday except for Greenspan.

Economic data out of Europe with negative GDP spooked the Asian markets ( who rely primarily on consumers in Europe and the US to support their markets) which spooked the US market... the market is mostly controlled by either fear and confidence.. when fear prevails.. sell offs occur. This is only one reason. The other "behind the curtain" so to speak is that many hedge funds are having to liquidiate in order to deleverage.. the only way to do this is to sell everything.. and sell they have been doing.

[Razorback21]

Originally Posted by Aintlifegrand

Economic data out of Europe with negative GDP spooked the Asian markets ( who rely primarily on consumers in Europe and the US to support their markets) which spooked the US market... the market is mostly controlled by either fear and confidence.. when fear prevails.. sell offs occur. This is only one reason. The other "behind the curtain" so to speak is that many hedge funds are having to liquidiate in order to deleverage.. the only way to do this is to sell everything.. and sell they have been doing.

What aggravates me about the hedge funds, most days they have been selling at the end of the day and that just adds to the pessimism for the next day.

[JGex]

Originally Posted by Razorback21

JGex,
I actually posted this on another forum, and it is so ironic. The title of the thread was "Is 2008 as bad as 1929?"

My Answer:
"Dow Jones September 3, 1929 381.4 to October 29, 1929 260. 31.8% down over 50 days.

Dow Jones August 28, 2008 11715.18 to October 22, 2008 8519.21 28.3% down over 55 days

Yeah, no debate...It is as bad as 1929.

Ayup... and we still have to closing bell today to see where it actually ends up.

I'd even posture that it's WORSE than 1929 because of the increase of people involved with and affected by the Markets as compared to 1929.

[Aintlifegrand]

Originally Posted by Razorback21

What aggravates me about the hedge funds, most days they have been selling at the end of the day and that just adds to the pessimism for the next day.

Yeah.. as well as it seems to have affected the cycle of who follows who... typically, Asian markets followed the Us.. now with the end of day sell offs.. the Asian markets are reacting to that and we are now reacting to what they are doing... odd times for sure..

I am glad I am completly out.. have been since Oct 07.. don't know why I felt a strong need to do that then when the market was shooting for the moon at over 14,000... but I did and I am ever so thankful... as it has slowly moved downward every since the day I got out.

[Aintlifegrand]

Originally Posted by JGex

Ayup... and we still have to closing bell today to see where it actually ends up.

I'd even posture that it's WORSE than 1929 because of the increase of people involved with and affected by the Markets as compared to 1929.

Could be as most people have so much of their wealth tied up in these markets versus in 1929 when people's wealth was the family farm or lumber mill or something tangible..

[ladycat]

Originally Posted by JGex

I'd even posture that it's WORSE than 1929 because of the increase of people involved with and affected by the Markets as compared to 1929.

The economy is much more globally interconnected now than it was then.

We may not have a one world government (yet), but we DO have a one world economy.

[Razorback21]

What's even worse than the one world economy is the interconnected financial markets and the international buying of foriegn stocks, bonds, funds and other debt instruments. I'm sure that is what worries Central Bankers, because they can see how the dominoes are set up better than we can.