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Stocks Stomped in Financial Freefall

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posted on Oct, 9 2008 @ 02:58 PM
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they should have given the 800+ Billion dollars back to the tax payers so we could pay off our mortgages, credit cards, and vehicle loans. Then invest or blow the rest on toys or strippers.

That would be the best way to boost the economy, but instead they give the money to the already rich bank ceo's.

What do you expect, this was a calculated collapse anyway.




posted on Oct, 9 2008 @ 02:59 PM
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What a day when the 'plunge protection' is considered reducing it to 'only' a 500 point drop... and they don't even make that stick.

Close Oct 9th:
8,609.77
-648.33 (-7.00%)

[edit on 9-10-2008 by Ian McLean]



posted on Oct, 9 2008 @ 03:00 PM
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Bell about to ring: -509 to 8748.60.
Whoops, -539 to 8714.83

Dropping again, bell ringing - 8680.
Final trades will take a few minutes to work through the system, the ultimate closing number will be along shortly.

[edit on 10/9/2008 by anachryon]



posted on Oct, 9 2008 @ 03:02 PM
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reply to post by burdman30ott6
 


These losses were inevitable. How big they would be without a bailout package, I would bet MUCH higher. The lack of confidence would be MUCH higher without any government bailout. That is certain.



posted on Oct, 9 2008 @ 03:03 PM
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8,644.10 -614.00 -6.63%

make that

8,628.73 -629.37 -6.80%

[edit on 10/9/2008 by Telafree]



posted on Oct, 9 2008 @ 03:04 PM
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Wow it the last seconds before it closed it went down from -5.75% to -6.49%


This for sure its going to affect the Tokyo Nikkei.

Wait a minute...they are not done counting!

[edit on 9-10-2008 by ThePowerOfOne]



posted on Oct, 9 2008 @ 03:05 PM
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-648.33
8609.77
-7%

Dear god....


Dropping some more:
-678.91
8579.19
-7.3%

[edit on 10/9/2008 by anachryon]



posted on Oct, 9 2008 @ 03:06 PM
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Originally posted by grimreaper797
That is certain.


What seems to be certain is that the "bailout" was on the order of pissing on a forest fire.

[edit on 10/9/08 by The Axeman]



posted on Oct, 9 2008 @ 03:06 PM
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Originally posted by xstealth
they should have given the 800+ Billion dollars back to the tax payers so we could pay off our mortgages, credit cards, and vehicle loans. Then invest or blow the rest on toys or strippers.

That would be the best way to boost the economy, but instead they give the money to the already rich bank ceo's.

What do you expect, this was a calculated collapse anyway.


First off let me say you get a star fomr me because wow you sir are right, I just wish the market would fall out and crash. I mean just get it over with as of right now Dow -599.74 -6.48% 8,658.36 I hope it falls futher before it closes. perhaps than the american people will see that ther goverment has failed them.



posted on Oct, 9 2008 @ 03:07 PM
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It hasn't stoppeddropping yet...



posted on Oct, 9 2008 @ 03:07 PM
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Right.


* Bail outs

* Talk of buying out banks

* Fed interest cuts around the globe

And Lady Capitalism still has anorexia - a very odd little "adjustment" going on here...



posted on Oct, 9 2008 @ 03:07 PM
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What the hell we're loosing almost another 100 points in the finals calculation? Heart attack, after market closure


Edit: I can't speeeel.

[edit on 9-10-2008 by Manawydan]



posted on Oct, 9 2008 @ 03:08 PM
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Still dropping after close... 7 1/3% now...

Looks like that just erased the 'big buy' bump at end of day..



posted on Oct, 9 2008 @ 03:09 PM
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Does this have anything to do with when the ban on short selling lapsed?

one liner avoided.



posted on Oct, 9 2008 @ 03:09 PM
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Dang.. there was about 90,000,000 volume moved (sell off) within a 6 min. period.

The average I could see was about 3-8 million per min...

I think it's going to get worse tommorow after the asian markets take a huge hit tonight....

[edit on 9-10-2008 by Willbert]



posted on Oct, 9 2008 @ 03:09 PM
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reply to post by The Axeman
 


Again, you can't possibly know that as it hasn't even taken effect yet. This fall was happening one way or another. Given the situation, this market is set to go down to 7500 is my bet.

Once it goes down another 1000 points, I think it will start to balance itself out. Hopefully by that time, Paulson will get his ass mobilized. The sooner they get to work, the better.

With no bailout plan, there would be no reason to believe that the credit market would unfreeze at all.



posted on Oct, 9 2008 @ 03:10 PM
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8,579.19 -678.91 -7.33%

is it finally stopping?



posted on Oct, 9 2008 @ 03:11 PM
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reply to post by The Axeman
 


Thanks for the laugh there. Sums it all up pretty well IMO.

This is a huge mess made even worse by adding debt onto an already strained working class citizen. We can't take anymore, yet we are expected to pay for the screw-ups of these corp. jerks.



posted on Oct, 9 2008 @ 03:12 PM
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reply to post by Maxmars
 




The Securities and Exchange Commission took the very drastic step of outlawing the essential financial practice of short selling in an attempt to galvanize financial markets. (The SEC recently extended at least some portions of its initial ban through October 17.) But short selling provides essential information to market participants and helps us update our expectations accordingly. By outlawing short selling, the SEC has eliminated a crucial element of what makes markets work.


Source

Could be. It certainly doesn't seem to have helped (the right people, that is).



posted on Oct, 9 2008 @ 03:13 PM
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reply to post by anotherdad
 


If the dow was to lose 500 points everyday for the next 8 days what happends when it gets to zero?




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