11:00PM Hawaii Time: DOW FUTURES at 7900....me thinks it might go lower

[opihimoimoi]

If When Pelosi hammers out a deal...the DOW might budge upward.

[CoffeeCat]

1. What is making the DOW go down so much...

...is it institutional investors; or the little guy with the 401k getting out?

[opihimoimoi]

2. The 401Ks have already lost ground...as much as 35%...if ya sell now to stem further losses

the penalties are about 10% I think....

Whos is selling...most likely the big boys.....they are gambling its going down...way down....and want to have some ammo to spend as it bottoms out

[CoffeeCat]

4. I hear ya...

I assumed it was the big boys.

Also...you can get out of stocks in your 401k plan, without penalties. We got out last year. We just
switched all funds from the stock market and put the money into MM funds. Most 401k plans allow you to
do this.

I'm sure as heck glad that we did it.

[KharmaTrain]

3. There's Not Enough In The TARP

Hey there Opi...

It's a real mess out there...banks are insolvent and doing anything they can to cover their assets. Even the 750 billion doesn't seem to be enough...and the longer this crap drags on the more money it'll take to make them solvent. The first bailout kept the Dow from crashing under 8,000, but with all the bad economic news lately, the downward pressure has been building.

The only way to get the banks going again is to isolate all that bad debt...get it off their books and then demand a total restructuring of these banks...divesting if needed...to restore investor confidence. Yep...it's inevitable, the banks are gonna have to be nationalized.

Cheers...

:toast:

[opihimoimoi]

7. Socialized Banks....who woulda thought....well, if it works.....may be we oughta try it

[FrenchieCat]

5. They fear audits from the Obama administration.......

That's why they "Don't like" Geithner's plan. It ain't because the particulars are missing, cause they actually know what the particulars are; that was just an excuse. What they don't like is that many banks may be found insolvent.

Listen to this Nightline interview with the President from yesterday...as the interview starts out on that topic.... http://abcnews.go.com/Nightline

[opihimoimoi]

8. Thank you Frenchie....Obama said it all...Its about Main Street

[Cash_thatswhatiwant]

6. damn. nt

[opihimoimoi]

9. 7 AM Hawaii Time...DOW at 7947...seems like its holding steady so far