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And they're off.....Stock Market just opened, Dow Already Down 100

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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:33 AM
Original message
And they're off.....Stock Market just opened, Dow Already Down 100
Edited on Tue Jul-01-08 08:35 AM by marmar
DOW JONES INDUSTRIAL AVERAGE IN(DJI: ^DJI)
Index Value: 11,250.44
Trade Time: 9:32AM ET
Change: -96.07 (0.85%)
Prev Close: 11,346.51
Open: 11,345.70
Day's Range: 11,235.70 - 11,437.30
52wk Range: 11,226.30 - 14,280.00


http://finance.yahoo.com/q?s=%5EDJI

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SpiralHawk Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:34 AM
Response to Original message
1. "Our republiconomics plan is doing a heckuva job. Smirk." - Commander AWOL Bush
Edited on Tue Jul-01-08 08:36 AM by SpiralHawk
"Republicon shock and awe, baby. Smirk." - Commander AWOL Bush

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tedoll78 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:35 AM
Response to Original message
2. Huge psychological barrier coming-up:
10999 :)
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Renew Deal Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:35 AM
Response to Reply #2
4. 11330 was bear market territory
10,999 is probably freak out territory.
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Renew Deal Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:35 AM
Response to Original message
3. I see bears
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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:36 AM
Response to Reply #3
6. THOSE bears are cute....
:)

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KansDem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:46 AM
Response to Reply #6
12. Yeah, but I wouldn't want to meet one in a dark alley!
:scared:
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tedoll78 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:39 AM
Response to Reply #3
9. Fodder for Colbert..
so cute!!!
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PCIntern Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:36 AM
Response to Original message
5. LOL! Floor reporter on CNBC said this is "Good News"!
what could be better than the market down, right? He gave all this technical crap as to why we're hitting a double bottom and all that...I did day trading for over 10 years, with varying results, and lemme tell you that CNBC is the worst offender for propaganda...it's like Pravda for capitalism.

Orwell would be impressed...
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marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:38 AM
Response to Reply #5
7. "You spin me right round baby right round like a record baby....."
I can't even watch CNBC's total Koolaid fest. On Bloomberg TV, reality does creep in every now and then.


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malaise Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:40 AM
Response to Reply #5
10. CNBC is so good that people should
only watch them to do the opposite of their suggestions.
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AngryOldDem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 09:28 AM
Response to Reply #10
14. Or for entertainment value. n/t
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malaise Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:38 AM
Response to Original message
8. Saw that coming
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Andy823 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 08:43 AM
Response to Original message
11. Yep!
Oil us up again, which makes the dollar drop, which makes the markets drop. Same thing every week, and even though experts have told congress that we need to regulate the speculators, and do away with the "Enoron" loophole, which would bring oil pricers down up to 50% in 30 to 60 days, and told them they should have done this last year or earlier, nothing is being done! Republicans have started a new tactic of blaming high oil prices on the democrats for not allowing more drilling, and the democrats are playing right into their hand by not addressing the "real" issues on high prices.

Last month even republicans were laying the blame on speculators, now they, and many others in this country, are mad at the democrats for not allowing more drilling. Will the leaders of the party every get the backbone to take on the republicans and just do what is right for the people instead of playing politics, and being cowards when it comes to the "real" issues, and the real problems?
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Subdivisions Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 09:04 AM
Response to Original message
13. In one of their short news updates at the top of the hour ,
CNBC said that oil supplies will become tighter.

Us Peakers have been saying that for years.
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aspergris Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-01-08 10:20 AM
Response to Original message
15. Update ISM came out
It ramped right up to the Settle pivot, retraced to S1, came up to the daily pivot, and is now retracing

Currently down 30 pts

Bear markets are GREAT trading markets. You cannot beat this volatility.

For the longterm investor, otoh, they can be frustrating.

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