DJIA Opened 480pts down DROPS 1000pts first 5 minutes of Trading

a reply to: pl3bscheese

Like I said, outside of something crazily unexpected, it looks like it will stabilize. Though you are certainly correct that the end of the day is what we should be looking at (I posted as much in another thread about this), but it's not like you can't start making predictions with the given data before the day closes.

originally posted by: Krazysh0t
It's at -678 right now, so it clearly regained some points. Are you guys just ITCHING to panic over this? Do you really WANT a crash to happen?

Yes. Why? Change.

originally posted by: Kuroodo

originally posted by: Krazysh0t
It's at -678 right now, so it clearly regained some points. Are you guys just ITCHING to panic over this? Do you really WANT a crash to happen?

Yes. Why? Change.

When have things EVER changed for the better after a catastrophic system failure? Usually, when viewing history, after such things the most unscrupulous people possible take control and make things worse for everyone.

And that's disregarding the extreme amounts of death and hardship that the whole world will experience that you are actively wishing for. I would NEVER want to wish that on anyone else, let alone the whole world...

Thankfully, I can take solace knowing that your crazy dreams will go unfulfilled since the market is stabilizing (and may even start reclaiming its lost ground from last week).

Knowing little about investing, but fearing this could happen, I temporarily helped placed a family member's 401K in gold & a very stable guaranteed income fund that withstood the 2008 upheaval just fine. I felt like I was being paranoid, but they asked me to and don't understand such things at all (not that I do much better myself.) Now I feel relieved my apparent overreaction may have actually done some good.

If I knew how, I'd try to help them take advantage of any future rebound once a bottom seems firmly established, but I am nowhere near educated or savvy enough to do so. Still... better something stable and slow growing than nothing or a huge loss, I figure.

Peace.

a reply to: Krazysh0t

When have things EVER changed for the better after a catastrophic system failure?

After WWII and precisely in Germany. But you know... just a thought.

Crash? where? everything is awesome, the dow has just gained 1000 points.

Buy Buy Buy

Dow

originally posted by: PublicOpinion
a reply to: Krazysh0t

When have things EVER changed for the better after a catastrophic system failure?

After WWII and precisely in Germany. But you know... just a thought.

I wouldn't call Germany getting its ass kicked in a war, a catastrophic system failure. That's more just being the loser of a war and the winner being able to dictate the policies of the loser. What I'm talking about is an absolute power vacuum that is created when the current system implodes on itself. Totally different event than losing a war. What I'm talking about is more akin to the Western Roman Empire falling and feudalism rising out of it. The Roman Empire wasn't conquered, it fell apart. The French Revolution is another example of this.

If our economy's floor fell out and cashing our whole system to crash, there wouldn't BE an external force guiding us through the mess so that we came out on top again. We'd be at the mercy of who ever managed to assert control and power to stop the damage, and those people are NEVER nice people.

a reply to: ANNED

Gold might dip but YTD will be quite positive , considering that US currency future trading was halted early this morning - due to a sell off. with no buyers. Silver is a great poor man's gold and is at its bottom (~$15/oz).

a reply to: earthling42

LOL - NO NO NO!!

a reply to: Krazysh0t

children, please!

stabilization or not - the intraday swings have been large - and it doesn't matter for the big picture.

There has been a loss of confidence in China's growth , with subsequent devaluation of feeder currencies.

Currency futures trades were halted (due to the graph pointing very south) this morning.

This is the global economy - all linked- precessing like a giant top, where the slightest surface tension vector can precipitate unraveling of derivative debt in microseconds.

The 800 trillion dollar question is derivatives. 75 Trillion in leveraged currency bets. All hinged on the world's largest economy.

Per Jim Chanos on CNBC this past Friday:

"It's worse in China than you think."

Well that did not last long. Talk about a quick recovery. Not real surprised fears about oil prices and China are only going to go so far with the US economy chugging along.

originally posted by: Boeing777
a reply to: pl3bscheese

I suppose the September doom might become a reality.

Oh yeah!!! The harvest is first of october!!!

a reply to: MrSpad

So could someone explain this to me, in a retarded way, it crashed, and it went back?

a reply to: yulka

It wasn't a crash. A crash is where the bottom falls out and the stock market just keeps plunging until they stop all trading. Then continues to plunge when they reopen trading.

What happened recently is called a correction. It is more or less like a rubber band snapping back into place when certain markets get too overinflated in price.

a reply to: Krazysh0t

Thank you! And could you tell me why so many are in the stock market? Is it the wishes of fast money ( lottery)

a reply to: yulka

Easy money mostly. It's kind of like controlled gambling. If you know what you are doing you can make a LOT of money very quickly, but you can also lose a ton of money very easily. Sometimes for things out of your control.

a reply to: Krazysh0t

Great!! Thank you for the answers!

Tried seeing the logics, never could. Its just a instinctual behavior applied on per pressure, so if you pulled the plug, what would happen? 1929 crash on all markets

a reply to: pl3bscheese

Great thread and an object lesson in flash trading. Bump!
After a dip or two of course.
I can't be the only guy in the chat room that noticed the
markets tanking at the SAME TIME the Trans Pacific Partner-
Ship got implemented. The ghost of FDR would be sayin'
there aren't many coincidences in rigged games. Or
politics, but I repeat myself

a reply to: yulka

Yea it is a very complicated beast, but then again there are many stock traders with just a high school education, so it's not like you have to be super well educated to be successful at it. Always remember, at the core of all stock trading, buy low, sell high.

That's why right now would be a good time to buy. Once the correction finishes, the stock market will start rising again. This means one could take advantage of any stocks that have dropped in price to buy them at a low point then make a bunch of money when they start rebounding.

a reply to: Krazysh0t

Except anyone calling this the end of a correction so early would be a huge fool. I agree with your basic premise, but c'mon guy, this could easily drop quite a bit more before hitting a bottom.