Holy Shyte! DOW DOWN Almost 200 Points in One Day!!

[loudsue]

Have you guys been to the Market Watch thread??

Check it out!

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x1396424


:sarcasm: Let's all hear a big cheer for republican management of the economy. :sarcasm:

:woohoo: More tax cuts for the wealthy!! :woohoo:

[hippiechick]

1. My company's stock is down almost $1.00 a share

... since close yesterday.

I thought they were just faking it again as a reason to fire the 200+ of us that they're getting ready to lose. :(

[loudsue]

2. I hope YOUR position is safe, hippiechick!

These downsizings are keeping workers all over the country in a high state of stress over their jobs.

[hippiechick]

19. nope ...

... they trimmed all the 'marginal' folks this time last year.

We have no idea where they're going to come up with this year's numbers and not do some damage to the operational ability of the company. But then again, that's not something they ever think about ... just cut the bottom line so they can increase their
own bonuses in December .... :mad:

But I'm ok with it cause they'll owe me several months' severance which will allow me to relocate fairly easily.

[ngGale]

38. This should put and end to....

privatizing Social Security accounts. I'm sure none of the big boy's are losing money.

[sinkingfeeling]

3. My $140 a share IBM stock that I haven't been able to get rid of

since 1998 is now worth $76.81. I think I will still try to sell it at a loss some time this year.

[Zynx]

47. At least wait for a pop - they ARE somewhat oversold at this point

But the computer box makers aren't going anywhere in terms of gains long term and you might not live long enough to see $140 again.

[applegrove]

4. Don't give them any ideas. They need a huge infusion of Cash

to put in the market. This 2001 recession has been put off time and again. I say that they move up the date of Attack on Iraq by a few months or they go into CUBA.

[Jack Rabbit]

5. !!

Varity headline from the website of the University of Missouri at St. Louis

[Panda1]

6. Just bloody great

Having just deposited a check into my shrinking retirement funds....it figures.

I hope no outsourcing happens as a result of this. But I know it will. :(
And they wonder why we're all scared shitless of them.

[loudsue]

8. Well, you're in good company, Panda1

There are millions of Americans whose 401k's and IRA's are shrinking like a wool sweater in the washer.

Now, what were the republicans saying about putting social security funds into the stock market?

:rofl: Silly republicans.

[KoKo]

33. a bad day out there and not just a "one day downfall." It was heading

down and down and down. Yet, the MSM sort of did a "yawn" and passed over it. Larry Kudlow was actually pushing for that old Steve Forbes thing of doing away with the income tax and doing a "Bush Fair Tax."

Disgusting. He didn't have the guts to talk about the "carnage" on the Street just went after the Repug Talking Points to give them even MORE PERKS!!! :puke:

[Catchawave]

7. I'm Stock Market Challenged, please explain what this

means, and type slow :dunce:

[loudsue]

9. Any DUers who are stock market challenged can learn a LOT by watching

the daily Stock Market Watch threads, every week day, in the LBN forum. You will not understand much of it at first, but after a couple of weeks of reading it, you'll start learning more than you ever dreamed of.

I highly recommend it!

[proud patriot]

10. Good recommendation loudsue

I sure have learned a lot by watching that thread .

[tsuki]

49. Thanks, I'll add it to my forums.

[Blue Moon]

23. It means

the stock market had a bad day. When the stock market has a lot of bad days in a row for a long time, it's called a recession. When the market has a lot of good days in a row it's called a recovery or prosperous market. Any single day of big up or big down is statistically meaningless.

[paulk]

34. true, but...

the biggest single day drop in two years isn't a good sign, and generally makes people take some notice.

[googly]

42. Today's 200 point drop IS NO BIG DEAL........

for example the SP500 (which is much broader index than
the DJIA) had gone from under 800 in march 2003
to 1230 in march 2005. That is a 50% gain in two years.

That is way above average return of 8 to 12% per year.

A 10% CORRECTION IS CONSIDERED QUITE NORMAL.

So a 123 point drop from 1230 = 1105 would not be out of
question. If we are still in a bull market, the SP500
could easily recover 15% in 2005.

[Zynx]

35. Three days in a row doesn't mean anything.

Five days in a row doesn't mean anything. Ten days in a row doesn't mean anything.

[Yupster]

36. But I bet the Dow tests 10,000

next week.

If 10,000 can't hold, it may be a long way before the next support level is tested.

Hopefully it will test 10,000 and bounce right back to its previous trading range of 10,500 - 10,800.

We'll see next week.

[Clark2008]

39. Except it's not totally dependent on the stock market

The stock market went up in 2004 - a lot - but folks were still not finding jobs or were being pitifully underpaid... therefore, the market never fully recovered because these people STILL were not consuming other than for basic goods and services (food, oil changes, a piece or two of clothing here and there).
The housing market looked good and is still looking good, but expect the bubble to burst when interest rates go through the roof.
We're hanging on by a thread, propped up by China and Japan and the only thing the Republicans can hope for is privatizing SS so that they can pump it back into the stock market to keep us in "voodoo economics" once again.

Hey - and I learned all this from DU's stock watch.

[googly]

43. Interest rates CAN"T go high at the same time MARKET is Dropping

because when the market drops, it means slowing economy,
and interest rates seldom go up in a slowing economy.

But if we have a big ass recesion, BOTH house prices
and stock market will be down, but also will the
interest rates stay down.

[Zynx]

46. Well, Greenspan *could* lose his mind again and invert the yield curve

Then...LOOK OUT BELOW!

[CoffeeCat]

11. Love that trickle down! (nt)

[loudsue]

12. Right now there are a bunch of folks feeling something "trickle down"

their leg!

The Market is down 420 points in the past 3 days. That's a hit and a half!

Spin this one, georgie boy!

:kick:

[MoonRiver]

13. I'm so depressed.

I got back in the market four months ago after being out for 3 years. Then it proceeded to crash. Now I'm stuck until it somehow goes up again. But I doubt that will happen until * is out and the Dems take over Congress again.

:argh:

[Clarkie1]

29. Hang in there. This could lead to a good buying opportunity.

We are still in a cyclical bull market within a long-term (many years) secular bear.

If you don't sell now, you are likely to see values surpass your buy-in point before the end of the year.

This is nothing more than a correction, the fundametals are still sound. 200 point drops or falls are not anything to cause undue alarm. Market volatility is normal.

I imagine some people are actually selling to pay off their taxes today...

[MoonRiver]

30. Thanks I needed to hear that!

The market starting to crash JUST after I put money in was really freaky.

[googly]

44. Keep things in perspective...............

Market went up from under 800 in march 2003 to
1230 in march 2005. I am talking about SPX which
is the index of 500 largest stock value companies
in the USA.

So we had a 50%+ gain in 2 years and now SPX is at 1140
which is aprox 8% drop. That is quite normal even in a
bull market. We could easily bounce back 15% from current
levels.

Good luck to you and me LOL.

[rocktivity]

14. It's been a while since that happened

Remember when Bush would give a speech during the day, and they'd have a stock sticker on a split screen, and the numbers would plummet? A Du-er patented it as "the piehole effect." Also, I wonder how my private Social Security account is holding up?

:headbang:
rocknation

[Emillereid]

15. Is there any safe place to put one's money that gives a half

way decent return?? I mean, where do the rich folk park their money??

[Catchawave]

16. Real Estate !

And believe me, you don't have to be rich !

[Tux]

18. I got $2000

Can it be dumped into real estate?

[Catchawave]

22. Maybe...see :

http://www.realestate.com/finance/mortgage/mortgage.asp?source=17988&siteid=&esourceid=17988&partner=realestate

[googly]

45. Check into a stock that pays good dividends, such as

Thornburgh Mortgage, and the old Philip morris (symbol MO)
they have changed name which escapes me at the moment, starts
with letter A.

[Emillereid]

31. I've got real estate here in CA that I want to dump soon -- this bubble is

going to burst soon, I just know it.

[Panda1]

21. The Cayman Islands; The Bahamas

That's where the rich keep their dough. And loudsue is so on the money ;)....a 401k in 1999 became a 101k by 2001. We'd already been raped in his first year of mismanagement and pillage.
He should be impeached immediately.

[Yupster]

37. Muni bonds

are always good for the rich. Tax free and a decent rate of return.

[Emillereid]

40. Are they safe? Since I'm not rich, I have to be extra careful!

[Yupster]

41. You're loaning money to cities,

school districts, and municipal projects like airport, hospital and water expansions.

Like anything there are risks.

I guess school districts can go belly up like anything else.

You can be locked into a 4.5 % interest rate while inflation goes up 40 % a year.

But compared to most investments, it's relatively safe.

Most have minimums of $ 5,000.

You can buy a muni bond mutual fund for $ 25, but then you have the risk of losing principal because they have to publish a price every day of what the fund would be worth if it was sold that day.

An individual muni has a published price too, but if you hold it to maturity, you should get your face value back. The mutual fund never has that day of reckoning where you get your face value back.

[Tux]

17. More excuses

To send jobs overseas since stocks are down and CEOs get massive raises. I hope the Libertarians and Republicians that supported Bush are happy about thier grand ideal of deregulation, layoffs, and McJobs.

[stray cat]

20. My 401K is the only thing trickling down.

And Bush says we will make up for 50% cuts in S.S. benefits by investing in his private stock accounts. How can he get away with saying that while everyones savings are plummeting in the stock market.

[loudsue]

25. They're republicans. They can lie all they want & their media reports it

as true. I'm sure the republicans will be telling us how this is just a market "correction" and everything is really hunky-dory, except, of course, what the Democrats and Bill Clinton screwed up.

It's a bizarro world we're living in these days.

[Al-CIAda]

24. I can't wait till they put our SS money in there, weeeee!!!!!!

Fucking bastards.

[mikelewis]

26. No shit! The Prez-o-dent was in Cleveland today selling his plan...

I hope the kool-aid drinkers check the dow before they nod thier heads in unison.

[Blue Belle]

27. I see low approval ratings in Bush's future...

Not that it is any consolation...

[Cha]

28. And if People's SS checks were

tied up in the market?

[KoKo]

32. Kick.....ain't that right, Loud Sue...Repugs are so great at managing

money...let's let them at the little we have left in "SS Funds.

They've destroyed our "Health Care System" and "Outsourced us all over the World" so now they want us Dead or in Debtor's Prison."

Sheesh...Dickens reading for anyone? Or, were you a product of Repug Education where Dickens was banned or burned.. :shrug:

[orleans]

48. privatization or flushing it down the toilet?

and the difference would be what exactly?