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Dow dropped 508 points on Oct. 19 1987.......And again today!!!

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posted on Oct, 7 2008 @ 06:54 PM
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-508 on the Dow. It's crazy that we saw the exact same point drop today.

en.wikipedia.org...(1987)

Does that make today "Black Tuesday"?

en.wikipedia.org...

Nope that one's taken too.


What do you think tomorrow will bring?




posted on Oct, 7 2008 @ 07:25 PM
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I think it will continue down. Watching the traders today I saw no faith in putting large sums in companies that are giving millions to CEOs who are partly responsible for this mess. You can take cash and buy a loaf of bread, but try buying it with a worthless stock certificate.

The move away from the market and into safe havens like under the mattress, and gold has begun. I think it was CNN who asked where people were putting their money, and most said under the mattress.



posted on Oct, 7 2008 @ 07:55 PM
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You do understand that the percentage is the thing right? Black Monday cost the market 22.6% of its value. That is about the total loss absorbed between Last December and today.

If the DOW drops to under 7500 tomorrow, *then* you can call it Crappy Wednesday or something.



posted on Oct, 7 2008 @ 09:10 PM
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reply to post by Mainer
 


I know that percentage wise it is a different story between 87 and today. The number of points is exactly the same. The odds of the markets falling the same number on two different days are pretty good, and I'm certain that it has happened before. I cannot however cite one of these occurrences specifically, because I don't recall any two days that were the same.

That said I think something can be said for the symbolism of it.



posted on Oct, 7 2008 @ 11:32 PM
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As Mainer pointed out to you - focus upon the percentage move. The point moves mean nothing by themselves.

JK




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