dow dropping 250 pts 1 min after opening

any predictions as to how far this will go? i know aisian markets are down about 4%. things dont seem to be going to well for anyone...

Its rising now at 211

www.djindexes.com...

I have heard predictions that it will drop below 10,000. It doesn't have far to go.

I was watching it all night. It was down as low as -280 at one point but seemed to be steady at -215ish for most of the night. We'll see how bad it gets though.

I honestly believe that it's going to drop a bit as a effect to the asian, russian, uk market.

But all in all I'm only thinking about a 300 point drop on average.

Of course I could be wrong, this is just my feeling

reply to post by Trayen11

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It seems to be holding steady right now, which is good...I guess. All it will take is the hint of panic though and it could be lights out.

However it goes, it isn't going to be a day for the weak willed or anyone with a cardiac issue!!!!!

I just checked and it's down a buck eighty-eight . . .

I'm thinking it won't tank below ten grand today . . . but if it does, all bets are off!!!!!!!

I think it's going to bottom out today.

Index Value: 10,087.80
Trade Time: 9:45AM ET
Change: -237.58 (2.30%)

reply to post by GoalPoster

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It is down -230 again.... so only 93 points to go before we get below 10 grand.

I think you will see people running to the banks in the next day or two to get their savings out and thats when you will see the DOW fall off the clif IMO 900 points Down in the next few days

Gotta have a 10% drop before the circuit breakers are switched.

Opening at 10,000 means a drop of 1000 before trading is suspended

People are already pulling out (moving) their 401Ks and some are taking the penalty on their IRAs before they lose everything

why is everybody focused on DOW? is the rest of the market falling?? if not then i dont see people running to the banks just yet

they are reporting on CNN that Brazil has been forced to suspend thrading now as well, they had a loss of 10% and were forced to halt trading.

reply to post by DirtyHarry

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Yes, all of the markets seem to be falling at about the same rate. The Dow is just the easiest to look at. We are inching pretty close to 10,000 now. -289, only 39 points to go.

reply to post by DirtyHarry

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yeah man here is a thread that has all of the information globally...

might want to start doing some research....

www.abovetopsecret.com...

WHOOP!

there it goes, below 10,000 now. let the panic begin.

I went to the BOA (Bank of Ashtray) this morning and withdrew enough for a coffee . . . after that, it's lookin' bleak for me!!!!



Just kidding . . . but I've stockpiled enough food and water for about a month and am hunkering down for the worst.

Regardless of what happens today, it's gonna get ugly . . .

Down 283 with 42 points to go before the abyss!

reply to post by redhatty

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Sorry what is a 401k? is that a tax return? I'm from the land down under
They have been saying that our Banks here in Australia are ok and we don't need to stress about what is going on in the rest of the world LOL good ole government She will be right mate

So if it goes down more than 1000 points they stop the whole market?? then what?

[edit on 6-10-2008 by duffster]

reply to post by JipStix

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I don't know why but that made me a little nervous actually seeing it happen. Here we go...