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Stocks Stomped in Financial Freefall

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posted on Oct, 9 2008 @ 02:36 PM
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A bear market within a bear market?

This type of selling has occurred twice before, October 1929 and 1987. The pattern this week is near identical to the week before the 1987 crash.




posted on Oct, 9 2008 @ 02:36 PM
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reply to post by grimreaper797
 


3 pm news conference yesterday by either Bernacke or Paulson, I can't remember which. They laid out the timeline for the bailout.

[edit on 9-10-2008 by JaxonRoberts]



posted on Oct, 9 2008 @ 02:37 PM
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Originally posted by burdman30ott6
Want to start taking bets on what reactionary nonsense the fed & treasury finagle over the weekend to ensure a 3rd consecutive bloody Monday?


Massive vacation for Senior Executives in Monte Carlo at FED expense???



posted on Oct, 9 2008 @ 02:40 PM
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reply to post by grimreaper797
 


Uh, if you want to make that batter at the plate comparison, let's be realistic. The bailout isn't Inchiro or Chipper Jones... it's more like Bob Uecker. If Wall Street anticipated the bailout to be effective, we wouldn't be seeing these daily mass losses, man. The fact is, perceptions are often more important than realities and frequently, perceptions change realities. Whether the bailout will or will not make a positive change in this magical future point when it actually gets under way (which is comical since we were told it was so imperitive it had to be ultra fast tracked through Congress... but now apparently we can afford to take our time actually implementing it? To steal an old Sci-Fi line: "DOES NOT COMPUTE! ERROR! ERROR!") is all meaningless because the fact is, right now, today, the bailout hasn't done jack squat except make Americans more paniced as we now know we're on the hook for trillions of dollars while Wall Street shows absolutely zero confidence or indication of positive effects in the plan.



posted on Oct, 9 2008 @ 02:40 PM
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reply to post by infinite
 


1987 is the year my husband lost everything. He's wised up a lot from that experience & manages his investing much differently now. He's more conservative with what every dollar is used for & I think it's a lesson other people will be learning the hard way as well.


BTW- it's under 8,800 now...



posted on Oct, 9 2008 @ 02:42 PM
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reply to post by 38181
 


That's actually an excellent analogy!

As the Black Knight stands there minus his arms: "It's just a flesh wound!"
Arthur chops off one leg, then the last leg, leaving the Black Knight's torso resting upright on the ground. Arthur leaves, as the Black Knight shouts after him:
"Running away, eh? You yellow (snip)! Come back here and take what's coming to you. I'll bite your legs off!

It's a lot like what's going on with the Dow this last month.

Twenty minutes to the bell close and we're down over 500 points. 8698.



posted on Oct, 9 2008 @ 02:42 PM
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The market is dropping at an insane rate, "specialist" will hit the floor soon to stabilise the markets.

The Dow is losing .30% a minute



posted on Oct, 9 2008 @ 02:44 PM
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I wasn't 'aware' of the stock market in 87 ( I was 13) so watching this happen now, is really scary. I talk to my mom and she's lost half her money. She got out the other day though so this drop today didn't affect her but damn...this s*&t is scary to watch. Its at 8,692.52 as I type right now



posted on Oct, 9 2008 @ 02:45 PM
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"No one wants to own stocks. ... It's just constant negative energy."



From CNBC...

Gold could overtake the S&P 500 INDEX at this rate



posted on Oct, 9 2008 @ 02:46 PM
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Its at -557 and dropping very fast... What a downward spiral!



posted on Oct, 9 2008 @ 02:47 PM
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This is getting scary...

Officials have declared the market in "free fall zone". Circuit breakers could become active VERY soon.



posted on Oct, 9 2008 @ 02:47 PM
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What are 'Circuit Breakers'?



posted on Oct, 9 2008 @ 02:48 PM
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Dow is down 6.9%
S&P down 7.5%
NASDAQ down 5.39%

Ten minutes to market close. Hurry up and close, I don't want to see any more carnage....



posted on Oct, 9 2008 @ 02:48 PM
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You know it's almost funny that a little over a week ago my boss was complaining that he lost over $6k on his 401k. When I told him it's not over, he laughed and said the bailout would work, and that the stock would come back right away. The naivety of some people is amazing. I keep telling people it's going to get worse before it gets better, but nobody wants to believe me. Everybody thinks the next day will make it all better.

There's one guy I work with who sees things my way, and surprise, he doesn't have internet, nor does he even have a cellphone. He gets all his info from MSM, yet he still sees through alot of the bs.

My 401k is going nowhere but down, but I expect to work till the day I die anyway. With the social security being drained, and the deadbeat welfare cases, there won't be anything to retire on in 30 years when I'm able to retire.



posted on Oct, 9 2008 @ 02:48 PM
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Good God!!


At 3:48PM ET: 8,595.59 Down 662.51 (7.16%)

It's looking really bad right now! Probably this drop will affect the Asian and Europeans markets today.

[edit on 9-10-2008 by ThePowerOfOne]

[edit on 9-10-2008 by ThePowerOfOne]



posted on Oct, 9 2008 @ 02:49 PM
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Originally posted by Telafree
What are 'Circuit Breakers'?


Electronic system that halts trading when the market drops -10% (crash)



posted on Oct, 9 2008 @ 02:50 PM
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Should be interesting when the FTSE opens tomorrow morning.

I expect it'll be a bloodbath!



posted on Oct, 9 2008 @ 02:54 PM
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Specialist are on the move.

The market is heading up.



posted on Oct, 9 2008 @ 02:56 PM
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Wheres the "plunge protection team"? will there be a big buy at close.



posted on Oct, 9 2008 @ 02:57 PM
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There she is!

Sorry for the one liner.



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