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

a reply to: pl3bscheese

That's why I said "once the correction finishes". I didn't say it was over.

a reply to: Krazysh0t

Some I'm reading that people saying correction are saying it should be around 13,000 or another number. If that's the case it looks like we have about 3000 to go or whatever. Following that logic how smart is it to say buy?

originally posted by: Krazysh0t
a reply to: yulka

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.

Fair enough, though when reading the preceding sentence, it seems you're saying to buy now. For specific individual stocks, that may be a good play. For the market in general, no.

a reply to: pl3bscheese

I guess I should have been a bit more vague with that sentence... :/

a reply to: Krazysh0t

On the contrary, precision would have been the superior route.

this is much different than 2008, still I think there is downside risk.....

This is how I imagine things went down today when it dropped...lmao

Yes, this is different than 2008.
If it goes, it is going to be much much worse.

The DJIA finished 588pts under at the closing bell.

Here are the two charts mentioned in the OP after today's loss

1 month:



5 year:



I'm adding the 1 year to show more clearly we breached the Oct 14 dip:

a reply to: drphilxr

Very wise

The markets have a long way to go before they meet reality again in my opinion.
It has not gone up because the economy was doing so great, or the companies were in such a good and healthy condition, it was purely driven through interventions from central banks, ZIRP and QE.

Don't worry, it's just noise.....
Just wait until China dumps their trillions in US Treasuries and the Arabs decide to value oil in Euros rather than the Petro Dollar.
Then we're really hooped.

originally posted by: earthling42
a reply to: drphilxr

Very wise

The markets have a long way to go before they meet reality again in my opinion.
It has not gone up because the economy was doing so great, or the companies were in such a good and healthy condition, it was purely driven through interventions from central banks, ZIRP and QE.

I guess they thought putting a bandaid on it would eventually lead to a complete fix down the road...I'm thinking they are wrong.

This country is going to sh!t quicker than I thought...We're one major "thing" from all hell breaking loose I feel. I don't usually feel things like that, either. I am so not a doom porn junkie but, IDK, I just feel like something major is on the cusp. What that is, I have no clue.

a reply to: pl3bscheese

We have not seen it bad yet.

originally posted by: openminded2011
a reply to: pl3bscheese

We have not seen it bad yet.

They didn't. Have welfare and food stamps and food drives like we do today

originally posted by: onequestion

They didn't. Have welfare and food stamps and food drives like we do today

That's because the Federal Reserve and the 16th Amendment were too new.

1929 was the first "test" to get the programs arranged and enacted.

originally posted by: openminded2011
a reply to: pl3bscheese

We have not seen it bad yet.

At one point in the video it mentions there was an 80% unemployment rate in Toledo (Ohio). And we thought the last crash was rough

Nothing to see here;

Monday ended the biggest three-day loss for the Dow ever with 1,477.45 points shed. (The next biggest three-day loss for the Dow totaled 929.49 points in November 2008.)

The Dow has been down five consecutive days for a point loss of 1,673.9.

Cumulative volume traded was 13.94 billion shares for the highest volume day since Aug. 10, 2011, when 15.19 billion shares traded.

The Dow traveled more than 3,000 points within the first 90 minutes of trading on Monday.

WTI settled down 5.5 percent for the worst day since July 6 when it lost 7.73 percent. (Monday's low of $37.75 was WTI's lowest point since Feb. 24, 2009, when it hit a low of $37.65.)

9 out of 10 S&P 500 sectors are in correction; (energy and materials are off their highs by 20 percent or greater).

Industrial, tech, telecom, utilities, financials, consumer discretionary and health care are all off their highs by 10 percent or more.

S&P 500 companies collectively lost about $685 billion in market cap (about $100 billion more than Apple's market cap).

NYSE volume was at 6.57 billion shares, the heaviest since Oct. 27, 2011.

Shimita year is really heating up near the end, Hang on for the remainder of the ride to September 11th.

a reply to: pl3bscheese

Done a quick search on the FTSE100 - Have a look at the headlines!

uk.finance.yahoo.com...^FTSE

You need to add the FTSE to the search yourself.....

Not good, Shanghai Composite is already down 6.4% minutes into it. They're about to dip under 3k.



In related news:

Trading halted 1200 times Monday

a reply to: EA006

Yea London stock exchange is getting hammered as well, I see it!



Looks like it was down ~7% at one point earlier.

originally posted by: Cynic
Don't worry, it's just noise.....
Just wait until China dumps their trillions in US Treasuries and the Arabs decide to value oil in Euros rather than the Petro Dollar.
Then we're really hooped.

Whats China waiting for?