Author Topic: Stock Market under 10,000 (Read 23164 times)

CajoleJuice · « **Reply #180 on:** October 10, 2008, 08:44:22 AM »

Today is going to be another shitshow.

Joe Molotov · « **Reply #181 on:** October 10, 2008, 08:48:08 AM »

At this rate, the Dow Jones will hit 0 within the next two weeks.

CajoleJuice · « **Reply #182 on:** October 10, 2008, 09:03:05 AM »

It's the devil's way now
There is no way out
You can scream & you
can shout
It is too late now
Because

You have not been
paying attention

Bocsius · « **Reply #183 on:** October 10, 2008, 09:26:35 AM »

The European markets are down ~8.5% right now, too.

Will the Dow go below 8000 today?

The Fake Shemp · « **Reply #184 on:** October 10, 2008, 10:23:11 AM »

Down -127, yay.

CajoleJuice · « **Reply #185 on:** October 10, 2008, 10:38:31 AM »

UNDER 8000! (at least for a little while there)

The Fake Shemp · « **Reply #186 on:** October 10, 2008, 10:39:46 AM »

And this is why I wouldn't buy yet.

MrAngryFace · « **Reply #187 on:** October 10, 2008, 10:54:58 AM »

CRAMER YELLS SELL SELL SELL CUz HES A FUKIN MORON FIRE HIM CNBC ARGH

CajoleJuice · « **Reply #188 on:** October 10, 2008, 10:55:30 AM »

Human Snorenado · « **Reply #189 on:** October 10, 2008, 10:56:01 AM »

Quote from: Willco on October 10, 2008, 10:39:46 AM

And this is why I wouldn't buy yet.

Yeah, I'm gunshy again. Was gonna sink 5k into BoA but GOOD LAWD. Market hasn't bottomed out yet.

The Fake Shemp · « **Reply #190 on:** October 10, 2008, 11:06:04 AM »

Like I said, the bottom won't fall out for a bit. And personally, I'd wait a couple of months after the holidays to see which financial institutions and companies withstood the storm.

Van Cruncheon · « **Reply #191 on:** October 10, 2008, 11:07:06 AM »

yeah, i'm gonna sit this out until they've unwound all the big credit default swaps.

CajoleJuice · « **Reply #192 on:** October 10, 2008, 11:11:55 AM »

Whatever the Jew said.

The Fake Shemp · « **Reply #193 on:** October 10, 2008, 11:21:13 AM »

Prole is basically right, though. We are still trying to figure out how far the rabbit hole goes with CDS. Last I heard, the market was valued at $45.5 trillion - still an astronomical number.

I think it was smart to let it run free and unregulated!

Bocsius · « **Reply #194 on:** October 10, 2008, 11:28:18 AM »

Tell me why I didn't take my money out of my regular 401K accounts a year ago and place them in treasury bonds?

The Fake Shemp · « **Reply #195 on:** October 10, 2008, 11:32:43 AM »

Because like most of the market, you were in denial despite Jim Cramer's warnings! CATS AND DOGS LIVING TOGETHER - MASS HYSTERIA!

Bush needs to stop going on television to try and calm the markets. He has no credibility and it upsets people even more. "Oh shit, what will he do nex- sell sell sell! He's talking! He must be fucking up something! SELL!"

MrAngryFace · « **Reply #196 on:** October 10, 2008, 11:44:13 AM »

Cramer is a fucking nutjob, 2 months ago he said the stock market would recover from its first drop told people to buy, now hes telling everyone to sell. He doesnt know shit, he's just loud.

Bocsius · « **Reply #197 on:** October 10, 2008, 11:44:56 AM »

Bush is going on television because the McCain camp told reporters they'd be glad when the bailout package passed so Bush would stop being on television. Out of sight, out of mind, they figured. Bush: "I'll show them!"

The Fake Shemp · « **Reply #198 on:** October 10, 2008, 11:50:08 AM »

Quote from: MrAngryFace on October 10, 2008, 11:44:13 AM

Cramer is a fucking nutjob, 2 months ago he said the stock market would recover from its first drop told people to buy, now hes telling everyone to sell. He doesnt know shit, he's just loud.

Not that Cramer is a prophet, but to be fair, he was telling people if they need money within the next five to ten years that they should remove it from the stock market. He is still confident that it will rebound, but it's a very long term investment at this point.

Human Snorenado · « **Reply #199 on:** October 10, 2008, 11:53:36 AM »

Quote from: Willco on October 10, 2008, 11:32:43 AM

Because like most of the market, you were in denial despite Jim Cramer's warnings! CATS AND DOGS LIVING TOGETHER - MASS HYSTERIA!

Bush needs to stop going on television to try and calm the markets. He has no credibility and it upsets people even more. "Oh shit, what will he do nex- sell sell sell! He's talking! He must be fucking up something! SELL!"

Like I said on my facebook page, Bush trying to reassure the America people about anything at this point is like trying to fight a fire with napalm.

The Fed had better nationalize the banks this weekend or we're in really deep shit.

The Fake Shemp · « **Reply #200 on:** October 10, 2008, 12:08:53 PM »

There's no doomsday scenario coming up next week if we don't nationalize banks this weekend. There's not a need for it - yet. Don't necessarily remove the option, but the economic outlook, while bleak, is not THAT BAD.

Fragamemnon · « **Reply #201 on:** October 10, 2008, 12:58:30 PM »

Quote from: Willco on October 10, 2008, 12:08:53 PM

There's no doomsday scenario coming up next week if we don't nationalize banks this weekend. There's not a need for it - yet. Don't necessarily remove the option, but the economic outlook, while bleak, is not THAT BAD.

Disagree-if the entire G7 doesn't act this weekend in concert, the markets will give a final vote of no confidence for government intervention and slam the accelerator on the flight to cash that is currently going on in the markets. That starts a turbocharged level of asset deflation and lending remans totally frozen, resulting in the "The Mother of All Margin Calls" as firms liquidate good assets for rock-bottom prices just to stay solvent.

duckman2000 · « **Reply #202 on:** October 10, 2008, 01:01:13 PM »

Quote from: Bocsius on October 10, 2008, 11:28:18 AM

Tell me why I didn't take my money out of my regular 401K accounts a year ago and place them in treasury bonds?

We took our 401k money and spent it on a summer abroad. Planning for the future is for those who believe in a future. Besides, if I thought for a second that by 65 I wouldn't be rich enough to say to hell with accumulated retirement funds, I'd cry.

patrickula · « **Reply #203 on:** October 10, 2008, 01:22:05 PM »

I wonder how many retail companies will go under after the holiday season (Circuit City seems like an obvious candidate). People won't be buying like they used to.

Fragamemnon · « **Reply #204 on:** October 10, 2008, 01:25:57 PM »

maybe this will be the year we can finally rid ourselves of radio shack

funny snl ad regrding the market:

http://www.hulu.com/watch/36665/saturday-night-live-reliable-investments

Van Cruncheon · « **Reply #205 on:** October 10, 2008, 01:35:29 PM »

i actually use radio shack from time to time

CajoleJuice · « **Reply #206 on:** October 10, 2008, 01:36:24 PM »

drinky noooooo

DJ_Tet · « **Reply #207 on:** October 10, 2008, 01:48:19 PM »

Quote from: Professor Prole on October 10, 2008, 01:35:29 PM

i actually use radio shack from time to time

It's irreplaceable as the only place that carries something that goes for $1 on ebay, but costs $10 at the Shack.

Sometimes I don't want to/can't wait for that stupid little part. I'd much rather lose KMart and Circuit City than Radio Shack. I do wish it was illegal for the people in there to talk to you unless you talk to them first.

Human Snorenado · « **Reply #208 on:** October 10, 2008, 01:48:37 PM »

If it's time to play the blame game, let's point the finger where it belongs- Greenspan.

Money quote:

Quote

Today, with the world caught in an economic tempest that Mr. Greenspan recently described as “the type of wrenching financial crisis that comes along only once in a century,” his faith in derivatives remains unshaken.

The problem is not that the contracts failed, he says. Rather, the people using them got greedy. A lack of integrity spawned the crisis, he argued in a speech a week ago at Georgetown University, intimating that those peddling derivatives were not as reliable as “the pharmacist who fills the prescription ordered by our physician.”

This is why Libertarianism fails. They cooked up a system that, on paper, looks perfect. That's the problem- it IS a perfect system. On paper. But in the real world, you simply CAN'T take humans out of the system. People will be people, not robots. Especially when they are interacting with huge sums of money. Libertarianism am fail.

Fragamemnon · « **Reply #209 on:** October 10, 2008, 01:49:57 PM »

Quote from: Professor Prole on October 10, 2008, 01:35:29 PM

i actually use radio shack from time to time

hey you have to get the parts for do it yourself shock therapy treatment for the kids somwhere. and radio shack is so convenient!

Bubbles Greenspan definitely deserves his share of blame, him fanning the flames of the huge asset bubbles helped make this mess.

Olivia Wilde Homo · « **Reply #210 on:** October 10, 2008, 01:50:38 PM »

Holy fuck, it is about 8100 right now.

I'll wait until the status of the CDS are figured out before I put anything in now.

Also, Jim Cramer deserves to live out of a box for the next 10 years. Has he predicted anything right?

duckman2000 · « **Reply #211 on:** October 10, 2008, 01:50:55 PM »

I always assumed that Radioshack was just a way to steer more customers to Circuit City.

Van Cruncheon · « **Reply #212 on:** October 10, 2008, 02:05:17 PM »

Quote from: CajoleJuice on October 10, 2008, 01:36:24 PM

drinky noooooo

sorry, i occasionally need various electrical/electronic components, including solder, unorthodox jacks/splitters/adapters, and various household fuses. :'(

Flannel Boy · « **Reply #213 on:** October 10, 2008, 02:12:51 PM »

Well, it's below 8,000 again
index Value:   7,975.61
Trade Time:   1:55PM ET
Change:   Down 603.58 (7.04%)

Bocsius · « **Reply #214 on:** October 10, 2008, 03:01:37 PM »

The slide ends when every 401K in America has been liquidated.

Kestastrophe · « **Reply #215 on:** October 10, 2008, 03:34:39 PM »

RALLY INCOMING
Only down 60 points, woohoo

Brehvolution · « **Reply #216 on:** October 10, 2008, 03:39:08 PM »

This bail out has shown people that wall street didn't manage peoples money effectively. So people are cashing out at a loss before it's all gone. There is going to be a lot of empty high rises in NYC when all is said and done. Boom!

Kestastrophe · « **Reply #217 on:** October 10, 2008, 03:53:48 PM »

HOLY SHIT UP 200 POINTS

patrickula · « **Reply #218 on:** October 10, 2008, 04:06:37 PM »

Guess the bailout's finally kickin' in, the economy is saved, good jon everyone

Brehvolution · « **Reply #219 on:** October 10, 2008, 04:08:14 PM »

Almost as important is that oil is down almost $10 just today.

Bocsius · « **Reply #220 on:** October 10, 2008, 04:11:19 PM »

And it's back down.

They'll give back a couple of hundred in the last few minutes, just watch.

Flannel Boy · « **Reply #221 on:** October 10, 2008, 04:18:13 PM »

Quote

a record 107,000 jobs were added to the economy, Statistics Canada said Friday.

Last month's job growth was the biggest increase in 30 years, and defied economists' expectations for an actual decline in employment.

Economists had expected job losses of between 5,000 and 10,000

That would be the equivalent of 1 million new jobs being added to the American economy. Economists, by the way, seem to be bad at predicting things.

Tristam · « **Reply #222 on:** October 10, 2008, 04:20:34 PM »

Quote from: Night Man on October 10, 2008, 04:18:13 PM

Quote
a record 107,000 jobs were added to the economy, Statistics Canada said Friday.

Last month's job growth was the biggest increase in 30 years, and defied economists' expectations for an actual decline in employment.

Economists had expected job losses of between 5,000 and 10,000

That would be the equivalent of 1 million new jobs being added to the American economy. Economists, by the way, seem to be bad at predicting things.

But they've predicted nine of the last five recessions!

Flannel Boy · « **Reply #223 on:** October 10, 2008, 04:23:25 PM »

How do you predict that Canada will experience job cuts in September, only to have the biggest increase in job growth in 30 years. Do economists just make wild guesses.

Van Cruncheon · « **Reply #224 on:** October 10, 2008, 04:27:48 PM »

these crazy fluctations are NOT a good sign -- it reflects grossly mixed messages, complete insecurity, and rampant exploitative opportunism on the floor. :'(

Bocsius · « **Reply #225 on:** October 10, 2008, 04:35:32 PM »

Article headline on Yahoo Finance:

"The Crash of 2008: History Shows It Could Take 10-30 Years for Market to Revive- Tech Ticker"

http://finance.yahoo.com/tech-ticker/article/94433/%27More-Insidious%27-Than-1987-Current-Bear-Market-Ranks-Among-Worst-in-History?tickers=%5EDJI,%5EGSPC,%5EIXIC,SPY,DIA

Goodbye, hopes of retiring before age 93.

Human Snorenado · « **Reply #226 on:** October 10, 2008, 06:00:32 PM »

Quote from: Professor Prole on October 10, 2008, 04:27:48 PM

these crazy fluctations are NOT a good sign -- it reflects grossly mixed messages, complete insecurity, and rampant exploitative opportunism on the floor. :'(

Yup. After the original Black Thursday the market rallied for a bit before it totally fucking cratered.

Fresh Prince · « **Reply #227 on:** October 10, 2008, 06:24:52 PM »

Rallies are nothing basically all they are saying is, ' We can't be that fucked can we? No there is still some value in the market. Let's stay positive'

Cormacaroni · « **Reply #228 on:** October 10, 2008, 08:07:53 PM »

Anyone sane is just going to sell into any rally they see so the upticks will be immediately followed by new lows.

I could not be more scared right now. We're all filthy poors now $:-\$

:'(

Olivia Wilde Homo · « **Reply #229 on:** October 10, 2008, 09:09:19 PM »

Quote from: Bocsius on October 10, 2008, 04:35:32 PM

Article headline on Yahoo Finance:

"The Crash of 2008: History Shows It Could Take 10-30 Years for Market to Revive- Tech Ticker"

http://finance.yahoo.com/tech-ticker/article/94433/%27More-Insidious%27-Than-1987-Current-Bear-Market-Ranks-Among-Worst-in-History?tickers=%5EDJI,%5EGSPC,%5EIXIC,SPY,DIA

Goodbye, hopes of retiring before age 93.

There is no doubt that the way stocks are done will change forever.

Van Cruncheon · « **Reply #230 on:** October 10, 2008, 09:29:38 PM »

it's gonna be up-and-down until the holidays are past, and the buy-sell activity stabilizes. right now, it's just panic and crass opportunism yanking the numbers in both directions.

drozmight · « **Reply #231 on:** October 10, 2008, 11:42:04 PM »

My entire family decided not to buy presents this year. Instead it's strictly just a religious holiday.

...and the retailers painfully cry into the darkest of nights, "WHY, GOD, WHYYYYY MUST YOU RUIIIIIN USSS!"

Brehvolution · « **Reply #232 on:** October 11, 2008, 12:06:26 AM »

It is what needs to happen to make the dollar worth something again. $3000 for an couch is just not a lucrative venture any more. $60 jeans? WTF, Old Navy sells the same shit with a different name for $12 on clearance if you are not a fatty. TJ Maxx and Marshall's are thrift stores...pish.
A shirt is a shirt no matter what the price.

MrAngryFace · « **Reply #233 on:** October 11, 2008, 02:25:26 AM »

http://sadguysontradingfloors.tumblr.com/

Bocsius · « **Reply #234 on:** October 11, 2008, 02:28:30 AM »

Is it wrong to want the stock market to go down even further because I'd hate to think I pulled my money out of regular funds and into treasury bonds after we had already reached the floor? I'd like to think I at least avoided some of the meltdown.

Edit: Holy crap! My 401K statement reveals that I'm down 49.9% since the beginning of the year!

:'(

Olivia Wilde Homo · « **Reply #235 on:** October 11, 2008, 02:32:40 AM »

Quote from: drozmight on October 10, 2008, 11:42:04 PM

My entire family decided not to buy presents this year. Instead it's strictly just a religious holiday.

...and the retailers painfully cry into the darkest of nights, "WHY, GOD, WHYYYYY MUST YOU RUIIIIIN USSS!"

Yours won't be the only one. I think we'll be seeing a lot more "family-oriented" Christmases being celebrated this year. Not that there is anything wrong with that.

I think retail season will be very interesting this year. This will probably cause a few more businesses to collapse though.

Cormacaroni · « **Reply #236 on:** October 11, 2008, 05:34:26 AM »

Quote from: Spencer on October 11, 2008, 04:34:55 AM

I'm thinking about pumping an ungodly percentage of my paycheck into my 401k these upcoming months. Now is the time to buy buy buy buy for the long term.

err, no it isn't. i'm keeping everything i have liquid. the bottom of this market (which we are nowhere near) will last long enough for anybody who wants in to get in, don't worry.

Bocsius · « **Reply #237 on:** October 15, 2008, 10:25:31 AM »

The stock market could be taking a header today on bad economic news (it's down 268 as of this moment), but amidst the doom and gloom, there is hope...

[news.yahoo.com]

# Retail sales plunge, wholesale prices fall- AP
# World stock markets slip on recession fears- AP
# JPMorgan profit sinks as loan losses pile up- AP
# Britain calls for global finance summit- AP
# Oil near 13-mo. low on econ. weakness, lower demand- Reuters
# Coca-Cola's 3Q profits up 14 percent- AP

Mr. Gundam · « **Reply #238 on:** October 15, 2008, 02:46:56 PM »

Hey, Shat Pack:

Quote from: Chow Foods

Dow'd But Not Out

As a token of our appreciation to our loyal customers, on Thursday, October 16th, between 5-10pm, CHOW Foods is executing a short term Main Street bailout plan far more delicious than the one the goofs in congress passed last week.

To make sure the Dow doesn't get you down, on Thursday night only, we're pricing our menu based on the close of the market on the 16th. The lower the Dow closes on Thursday, the less your entrée costs--no food on the menu will be priced more than the Dow. If it closes at 8300 (gulp!) then you wont pay any more than $8.30 for any item on our food menus.

If Chowin’ on the DOW isn’t enough to whet your appetite, keep in mind that our house red & white wine, draft beers and well drinks will be priced at the NASDAQ close for the day. If it dips to 1250, then our depression era pricing on these libations will be just a buck twenty five!

Stop by for dinner and drinks between 5 p.m. and 10 p.m. at any of our joints as we match the economy cent for cent. Menu prices will be set according to the markets close, so for one night, forget about the size of your 401k and CHOW down on our nickel.

Get your wallet off your mind and join us on October 16th at your local CHOW restaurant and enjoy a taste of the good life for a little bit less. For a full list of restaurants or to browse our menus see www.chowfoods.com

Howard Alan Treesong · « **Reply #239 on:** October 15, 2008, 02:53:13 PM »

Quote from: Professor Prole on October 10, 2008, 01:35:29 PM

i actually use radio shack from time to time

Even CEO Can't Figure Out How RadioShack Still In Business

News:

Author Topic: Stock Market under 10,000 (Read 23164 times)