dow dropping 250 pts 1 min after opening

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posted on Oct, 6 2008 @ 09:01 AM
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reply to post by duffster
 


401k = retirement savings which is based on the stock market. I feel horrible for people who were hoping to retire in the near future. This just added years to their career.




posted on Oct, 6 2008 @ 09:05 AM
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Originally posted by Karlhungis
reply to post by duffster
 


401k = retirement savings which is based on the stock market. I feel horrible for people who were hoping to retire in the near future. This just added years to their career.



It just dropped below 10 thousand, holy crap



posted on Oct, 6 2008 @ 09:05 AM
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below 10,000 WOW, talk about devaluation!

Now if the government will just stay out of it and let it do what it's gonna do, we might find that prices will re-value to something no bubble induced



posted on Oct, 6 2008 @ 09:06 AM
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The VIX (CBOE volatillity measure) spiked above 50. And for whoever was asking Nasdaq and S&P 500 are both down harder than the DOW percentage wise. The Nas has already breached 2000 and kept going past few weeks and the S&P is around 60 points above 1000.

Now if the S&P touched 1000 this week that would be something.



posted on Oct, 6 2008 @ 09:07 AM
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dow below 10k!!!!! wow.........



posted on Oct, 6 2008 @ 09:08 AM
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sweet lord.


I thought this bailout bill was supposed to save us? Thank you lovely wonderful representatives that voted yes for that, even though we told you NO!! Not only is the economy going to continue to crash bailout or not, now we have 800 som billion dollars that we have to pay back. Lovely, just lovely.



posted on Oct, 6 2008 @ 09:10 AM
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Just popped back over 10 , just slightly



posted on Oct, 6 2008 @ 09:12 AM
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reply to post by dlongwell547
 


well maybe it has to take some time before we "see it working"

pff...800 bil, hope they dont spend it all in one place



posted on Oct, 6 2008 @ 09:13 AM
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Remember the excitement when the DOW initially hit 10,000? In all seriousness (as someone trying to educate themselves) is 10,000 a "real" mark, or just a psychological one?



posted on Oct, 6 2008 @ 09:13 AM
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I hope no one was fooled into thinking that the "bailout" or "rescue" plan recently passed is going to save the stock market...


For the next few weeks - months, this is going to be a volatile time for the economy. There will be a recession/depression. These dips in the dow are nothing compared to what we're going to see...



posted on Oct, 6 2008 @ 09:15 AM
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you may call it what you want...

I AM FAAAAAAAAAAAAAAAAAAHHHHH REEEEEEKIN

9,989.91 ZOMG!!!!

were rolling back prices!!



posted on Oct, 6 2008 @ 09:16 AM
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Originally posted by Benevolent Heretic
For the next few weeks - months, this is going to be a volatile time for the economy. There will be a recession/depression. These dips in the dow are nothing compared to what we're going to see...


I'm afraid you're right.

Bleaker than anything Christmas for a lot of people . . . except for that day trader who just whizzed by my _



posted on Oct, 6 2008 @ 09:16 AM
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the silver lining is that the DOLLAR relative to other currency's has gained "value". and the dollar index has sustained it's rally above 80.........so far.


the stock market was going to fall, that was inevitable IMO, but the dollar tanking and no longer becoming world reserve currency is IMO the BIG GAME= which would lead to a new economic order in a long term bad way for america.

all the cyclical talk is flawed enough w/o realizing, that all the "cycles" have had the dollar as world reserve currency as the common denominator, should that change, we have a cycle breaker. As of now we are facing a LONG, SEVERE recession (war likely as well IMO) , that is bad enough, should we lose the world reserve currency (i.e) petro dollar we will likely face depression time will tell, this is going to be long and drawn out.

[edit on 6-10-2008 by cpdaman]



posted on Oct, 6 2008 @ 09:16 AM
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The DOW is falling because Wall Street never wanted the bailout, it was going up when they thought it wouldn't pass. Now that it has they are all jumping ship.

Does anyone every listen to the little people? Nooooo!



posted on Oct, 6 2008 @ 09:17 AM
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It's definitely a psychological barrier, 10k on the Dow, but if people panic it can drive down the index even further.



posted on Oct, 6 2008 @ 09:17 AM
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reply to post by Benevolent Heretic
 


Wait till the Tzar declares the need to demonetize the dollar!...., oooh I shouldn't have said that...

The Market is fighting for its life. Too bad it has no immune system, because these transnational banking cartels are a pestilence.



posted on Oct, 6 2008 @ 09:21 AM
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I have a very small amount of money in my bank, $1300. should I go get it out now? I live from paycheck to paycheck and am just worried about buying food for my family....



posted on Oct, 6 2008 @ 09:21 AM
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i believe they would halt trading at a level near 94-9500. for a one day drop


a good article on market oracle showed that there are a group of traders who are utilized in market days (like the 777 point drop) to buy buy buy and they have $ $ $ to keep things from becoming Cataclysmic, should the market get by that line of defense, then trading is halted.



posted on Oct, 6 2008 @ 09:21 AM
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Looks like us canadians are trying to catch up to the Dow.... down 6% at the moment. Lets have a race and see who can get theirs to 0 first....



posted on Oct, 6 2008 @ 09:21 AM
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ouch that last hit hurt down 350 points no wait 370 points Dam!!!





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