Mark My Words..Fellow/Sister Duer's... The Shit is going to hit the fan at 9;00AM..

[BlueJazz]

.. tomorrow. (est)
I suspect it's going to be another "Black Tuesday"...

[zanne]

1. Either that or people will buy low. nt

[sendero]

3. Buying low..

.. is pretty dumb when you are nowhere near the bottom. We're no where near the bottom of this thing.

[Matariki]

21. Where did you buy your crystal ball?

[sendero]

27. Don't have one..

... but have been predicting this exact scenario since 2005. Posted here. When did you see it coming?

[Ikonoklast]

9. Catching a falling knife is never much fun

Program trading designed to automatically sell to curb losses can steamroll a market.

I woder how heavily leveraged some of the hedge funds are, as commodity selling to raise capital is happening this very minute, big time.

[sendero]

2. It most certainly is...

... and it's going to keep hitting the fan for months at least.

[SpiralHawk]

4. Pluto is in the anarectic degree of Sagittarius this week

Gulp.

Enters Capricorn on january 25 and will stay there until 2024 or so. Systems gonna MUTATE majorly.

Gulp.

You all know what this means, right?

If not, ask a republicon occultist, like Ronald Reagan

(You will have to channel him and his dead astrologer for the detailed explanation. Republicon Skull & Boner occultists, like the Bush Clan, use bLacK candles for this kind of coMmuNicaTion with the dEAd, as well, I suppose, as the uNdeAd.)

[Sam Ervin jret]

42. DiDn't they make a new TAROT card for Ronnie?

I heard it was called;

The Foolish Imperial Asswipe

It's a major pain in the Arsscana card(oh sorry that was really bad)

[NightWatcher]

5. from the Guardian...."Black Monday: recession fears spark global share crash"

http://www.guardian.co.uk/business/2008/jan/22/marketturmoil.equities

Fears that 2008 will see the looming recession in the US spreading to every other continent triggered a global crash in share prices yesterday, wiping £77bn off the value of the City's blue-chip stocks in the biggest one-day points fall in London's history.

On a day of panic selling, hefty overnight falls on far eastern stock markets prompted a ripple effect through Europe and left the City's FTSE 100 index down 323.5 points at 5578.2 at the close.

[ayeshahaqqiqa]

10. I'm glad I don't have stocks

Might be wise tomorrow to invest in things like food, water, garden tools, and wood (for your wood burning stove).

[K Gardner]

6. Agreed. While we were closed today, the European markets tanked. Will be hard to watch,

but no one should be surprised.

[LakeSamish706]

7. If the Canadian TSX is any sign, yep the shit indeed is going to hit the fan...

The TSX fell 605 points today, and thats absolutely hurtful....

[Monk06]

36. A company I do accasional work for closed a $20 Million financing 2 weeks ago. How's that for luck.

[Renew Deal]

8. Is that because people have had 3 days to review their 401Ks?

[WinkyDink]

11. If the whole world "goes broke", what then? What do financial terms mean, then?

[havocmom]

14. at that point, the guys with the water and the seeds are king

and there have been lots of shady things going on with water...

[bluerum]

12. I suspect you are right. Should be an entertaining day. Taking bets on how

many jumpers we have?

[Hutzpa]

13. So the real terrarist where

sitting at the Wall Street.

hhmmmm!

[msongs]

15. hoover -> crash -> democrat president! yay! nt

[CK_John]

16. Any provision to keep the market from opening? n/t

[msongs]

19. there is a built in shutdown of some sort if the fall is too precipitous nt

[Yael]

22. There are circuit breakers built in

that will close the market for various lengths of time if it tanks 10%, 20% or 30%.

Going on memory, but I believe it looks like this:

10% before 2:00, closes 1/2 hour, 2:30, 1 hour, after 2:30 -- they let it run out

20% before 1:00, closes 1 hour, 2:30, closes for the day

30% at any time -- markets close for the day.

Someone please correct me if my numbers/times are incorrect.

PS -- Market opens at 9:30 and closes at 4.


Edit to correct numbers from TahitiNut's link:

10% prior to 2pm, closes 30 minutes. Prior to 2:30, closes 1 hour. After 2:30 -- they let it run out

20% prior to 1pm, closes 2 hours. Between 1 and 2, closes 2 hour. After 2 -- they close the market for the day.

30% as noted above.

[TahitiNut]

33. New York Stock Exchange Rule 80A and 80B.

http://www.nyse.com/press/circuit_breakers.html

http://www.nasdaqtrader.com/trader/help/circuitbreaker.stm

[Yael]

37. Thanks!

:hi:

[in_cog_ni_to]

17. *sigh* This turns my stomach. I'm just thanking my lucky stars that I took my son's college fund OUT

of the Mutual Fund we had it in.

[Loge23]

18. 10,000, here we come

10,000 is on it's way. By June, IMO.
Gold will soar, interest rates will come down - action by the Fed plus the cash rush.
The Chinese and Arabs will turn away from the dollar on the low interest.
Inflation comes next (or stagflation).
The global economy may shorten the cycle a bit, but it will also intensify the valleys and peaks.
We're in for a rough ride.
It'll all be worth it if Americans finally realize that trickle -down does not work.
Most of us would agree that we need to change - this situation is a part of that change.
Satchel Paige once said "Don't pray when it rains, if you don't pray when the sun shines".
I don't think he was talking about religion.

[paparush]

20. Ok..where should I move my $$

any 401(k) reallocation advise?

don't have much but would like to shelter what i have as best i can.

[K Gardner]

25. The guys in the Economic Forum here are pretty good, other than that, I'd talk to a

good financial advisor. A lot of people are investing in gold, I hear. I just put my money in a shoebox under my bed :-) :hide:

[Narkos]

23. Dude, you're scaring me....how do you know this?

[K Gardner]

28. It depends on whether you believe the US money markets are in sync or coupled with the European

markets.. read some of the european papers today or the NY Times from today:

http://www.nytimes.com/2008/01/21/business/22stox-web.html

[Pathwalker]

24. Stock Market opens at 9:30 est, doesn't it?

It does on CNBC. :shrug:

[RUMMYisFROSTED]

26. However, it must be noted, BlueJazz will be in front of a fan at 9 ET.

9:30 ET will make that spectacle look like a fart in a hurricane.

[Pathwalker]

29. Rofl!

Thanks - I needed that. At least we have something to look forward to, eh?

[malaise]

30. It's hitting the fan in Asia right now n/t

[inanna]

32. It certainly is! n/t

[natrat]

31. gold is pulling back so mid/low 800s seems a better buy than american stocks

[leftofthedial]

34. we need a new deal and we need to convince the masses

not to elect repukes for another couple of generations

if it takes shutting down the economy for a decade again, so be it

[GreatCaesarsGhost]

35. terror alert 8:30am

[Yael]

43. How sad is it that I was thinking the same thing

*sigh*

[Narkos]

38. And Obama praised Reagan! Look where it got us!

Still like the guy, but with supply siders looking idiotic by the minute, I just can't believe he said that stuff!

[Nimrod2005]

39. 9:30 AM

[Pavulon]

40. Yes it will be a bump, but 14,000 billion

dollar economies have thier ups and downs. Don't think we have a great depression on our hands.

[rockymountaindem]

41. Aren't you just rubbing your hands with glee that the capitalists will finally get theirs tomorrow?

:sarcasm:

I certainly detect an underlying sentiment of happiness/schadenfreude around here with regard to this topic.

[Narkos]

44. Yes, this is what's needed to get our country back!

We need to show once and for all that Bushonomics is fucking disaster, and get back to emphasizing the common good over private gain.

[rockymountaindem]

45. You're exactly what I'm talking about, except you've got the chutzpah to say it up front

Look man, what you're implying is cutting off your nose to spite your face. First of all, even the worst disaster doesn't automatically mean the public will turn away from conservatism. If not, then you've pissed away a lot of money, not to mention a lot of people's futures, for nothing. If what you say is true, the 1987 crash and the Great Depression would have done the trick by now. Secondly, losing our asses shouldn't be necessary to prove whatever point we're trying to prove. Thirdly, like I said, a lot of ordinary peoples' well being and peace of mind are at stake, and that's nothing to trifle with.

[Narkos]

46. Point taken, but you're way off base....

I agree that we shouldn't be rooting for a recession, but now is the time to take advantage of the gross mismanagement that has occured over the last 7 years. I'm not cutting off my nose, George Bush and the rest of corporate America did. I haven't pissed away money, I've been saving and stand to lose quite a bit. There's absolutely nothing I or anyone else on this forum can do about the situation, except offer solutions and yes, say I told you so. The conservative movement is intellectually bankrupt, and we can use this moment as a perfect example. So losing our asses sometimes is the only way to prove something!

[rockymountaindem]

47. I disagree with you that it's the only way

However, I agree that if the worst does happen (God forbid), it's happening at the worst time for the Republicans. That won't provide a lot of comfort for me or most people, but it's the truth, I agree.