What happens to the stock market tomorrow?

What exactly do we have to look foward to in tomorrow's stock market? Are stocks going to continue to plunge from the bailout news? I think that they may start to rise as either the investors realize this is in everyone's best interest, or there will be some surprise announcement tonight about a new deal, or something of that sort that will boost people's confidence.

What do you think?

Either a clone of John F. Kennedy walks out of a UFO on the White House lawn, or the stock market tanks further.

I am betting on the latter, but cha' never know.

Just wondering why don't they tax the churches? I mean everyone knows that is an untapped resourse.

Wouldn't taxing the churches help, ot that alone bail out the economy?

Anyone?

It's going to be an interesting week, never mind just tomorrow. My guess is that the markets will trend lower, but not necessarily "tank". Traders and investors will be digesting the news of the failure of the package while the White House begins quietly implementing the presidential powers under Special Orders NSPD 51 and HSPD 20 It's great being a Canadian, able to watch the unfolding drama that is 21st century America. Good Luck my American cousins, I think you're in for some tough sledding.

[edit on 29-9-2008 by Cynic]

Remember the stock crash of 29 and the great depression that followed... Yeah it will look something like that. I hope you prepared.

It might be up a bit because of the 600 billion the Fed invested. This is safe haven money to invest in companies that are still good buys because after all it's just a loan from the Fed right?

I agree with Cynic, I think it's going to trend lower, but I don't think it will tank. Over the next week or two, I think it will stabilize again.

reply to post by Cynic


Are those presidential powers you speak of the ones that suspend elections and institute martial law?

If the media keeps making a big stink about the bailout not passing and an economic crisis of catastrophic proportions, I think tomorrow will be a 400-500 point down on the DOW, I expect large losses, but not another record breaker.

Originally posted by Benevolent Heretic
I agree with Cynic, I think it's going to trend lower, but I don't think it will tank. Over the next week or two, I think it will stabilize again.

Your optimism is ruining the fresh doom we have here.

It will tank! What's left to discuss is chocolate, whiskey, Cheetos, smoking, and panic-sex.

reply to post by pluckynoonez


It does not have to be all doom and gloom predictions here. I want some honest input either way, and a little supporting information to go with it.

All that whiskey and cheetos and panic-sex has its place here as well.

Originally posted by pluckynoonez
What's left to discuss is chocolate, whiskey, Cheetos, smoking, and panic-sex.

Ah...the three major food groups and the two best vices ever created.....

But, I tend to agree with BH; it will go lower, but not tank. The rest of the week will be dicey, but the market will stablize itself within a few weeks. It's not like they got no help at all; the Fed threw $600+ billion at them today without the bailout deal.

Originally posted by ninthaxis
reply to post by pluckynoonez

 

It does not have to be all doom and gloom predictions here. I want some honest input either way, and a little supporting information to go with it.

All that whiskey and cheetos and panic-sex has its place here as well.

Exactly! Going off actual supporting info is the best policy to take when making predictions. To cry wolf and be known as a crackpot at least gives you an identity.

What was the need to approve a bailout if they can just keep giving them hundreds of billions of dollars at whim? This seems worse to me as there is no apparent oversight on this.

Originally posted by pluckynoonez
Your optimism is ruining the fresh doom we have here.

Oh, Sorry!

Yes, it's going to tank! Breadline, here I come. Order a big pizza and pass the Cheetos!

ninthaxis, I'd love to provide supporting information, but I don't really think there is any. These times are different than any other... No one can really know what will happen.

Originally posted by ninthaxis
What was the need to approve a bailout if they can just keep giving them hundreds of billions of dollars at whim?

That depends on what the definition of 'them" actually is. Could it be the dudes working for the Fed. I think it could, and why I think tomorrow the market will rise some.

The market volatility index closed in record territory. ^vix on yahoo. This is an indicator which gauges market fear. When it spikes up fear is greatest. Historically when fear has been at these levels, the bottom is very very close at hand.

the vix is at the exact same juncture that it was when the market turned bullish in 2002. I think today was a day to buy and that is what I did across the entire world markets. Very hard to hit that buy button but you have to buy when the signals say buy, even though every emotional bone in your body is saying sell, sell, sell.

Then again, maybe the tin foil hat crowd will be right for a while longer.

The Dow has seen worse slumps than this in the past decade. I dont remember there being a depression from 2001 - 2003 when the averages fell from 11,500 at the millineum down to 7891 in 2003 (including a slide down to 7591 in 2002). To be more precise, the Dow broke 10k in April 1999, climbing with the DotCom craze. Before then, as far back as the end of the Great Depression, the Dow stayed low and flat, with changes marked by decades, not weeks, months, or even years.

We are looking at a similar slide, but I dont forsee a depression on the horizon. A minor recession, I will conceed, but not a full blown depression.

The only reason why the Dow got as high as 14000+ in the first place is because companies fraudulently bloated their corporate values in the first place. Given accurate figures, the Dow would likely have never gone much above 10k in the last decade.

Just monitoring the trends (such as the DotCom bubble, millinium scare) over the last 10-12 years, there is still room for the Dow to fall safely. I would not be surprised if it did in fact fall back to around 8000 before it levels out.

Ok, so my 401k will take a hit in interest. My HSA investments will take a hit in interest. I am prepared for that. You should be too. Just remember to take in the news you hear and read with a bit of salt, because you are only going to hear one side of the story and it is likely going to be more fearmongering and doomsaying than it will be the truth. Things arent over, they are just adjusting.

I urge you all not to run out and pull your investments or dump you bank accounts based on the fears of a few. Just as you would on a normal day, set aside what you need and leave the rest alone. It will be safe. You will be safe. The market will be safe.

1000+ point plunge predicted (i use the term loosely cuz im not a psychic) tomorrow, black tuesday for the 21st century, based on the fact everyone will pull out cuz stocks will continue to fall for atleast the next few years even if they fall slowly, if ur in you better be in loooooong term like 5-10 years. there is no more money!

Please add you thoughts to the existing thread: Was today Grey Monday? What about tomorrow?.

Closed.
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