Will this be Black Friday? - 10/10/08

Reading threads about the economic crisis, hearing 'Jeopardy' music in my head as I wait to hear further news. ~Pretty soon I will need more oxygen in my nicotine system. Coffee pot is going steady.~

reply to post by nj2day


Look on the bright side...with oil bottoming out at $80 USD per barrel gas prices should be getting a whole lot cheaper soon.



Im going to be stuck to this ticker all day Im afraid....I cant seem to stop staring at it either

reply to post by BlackOps719


If you believe the doommongers, $80 oil isnt much use if nobody has a salary to buy any!

Of course im not one of those... I think this is the floor. $80 oil cant hurt the economy

I think that today may not be too bad but I fear Monday.

Too many people have already lost too much money. No matter the outcome of today, when they had the weekend to work on their ulcer, I think that we'll see a lot of fear selling on Monday.

reply to post by BlackOps719


Gas prices around here are already getting close to $3/gal, so yah, gas prices are getting nicer. Not that anyone can afford to go anywhere

I was an early casualty of the economic situation... I'm lucky my wife is in Healthcare, or we'd be screwed.

Originally posted by 44soulslayer
reply to post by BlackOps719

 

If you believe the doommongers, $80 oil isnt much use if nobody has a salary to buy any!

Of course im not one of those... I think this is the floor. $80 oil cant hurt the economy

As soon as I close on these houses I will have a good amount of cash, just hoping the currency doesnt take in the scheme of things.


As for the bottom, not so sure. We just dipped below -400 again at -412

I remember a time when homemade baked goods and fruit were welcome Christmas gifts.

Christmas past may visit us again.

down 431.68

[edit on 10-10-2008 by dizziedame]

reply to post by BlackOps719


We are paying $1.54 a lt for gas right now And the Australian dollar is now trading at 63 c So they are saying our gass will not come down unless the Australia dollar goes back up In june it was at 98c

Dow -401

Originally posted by Wildbob77
I think that today may not be too bad but I fear Monday.

Too many people have already lost too much money. No matter the outcome of today, when they had the weekend to work on their ulcer, I think that we'll see a lot of fear selling on Monday.

oh give it time lol -414 at the time i'm posting this.

That's almost 5% from opening.

I think we're going to see another 650+ drop.

Originally posted by dizziedame
I remember a time when homemade baked goods and fruit were welcome Christmas gifts.

Christmas past may visit us again.

down 431.68

[edit on 10-10-2008 by dizziedame]

I dont know Dizzie...I sort of miss the old days.


Christmas shouldnt be about how much over priced crap you can buy someone anyways.

Im still not sold on my fruitcake making skills though

reply to post by nj2day


Wait and see what Monday brings!

One interesting thing is at some point the stock market will once again be a bargain.

Even good companies are having their stock prices dragged down.

At what point do you get back in?

reply to post by Wildbob77


Have to wait until Tuesday

Monday is Columbus Day in the US, banks/markets closed for the day

Although the rest of the world will still be trading, I am not sure if I want to see what happens Tuesday

Originally posted by nj2day
reply to post by BlackOps719

 

Gas prices around here are already getting close to $3/gal, so yah, gas prices are getting nicer. Not that anyone can afford to go anywhere

I was an early casualty of the economic situation... I'm lucky my wife is in Healthcare, or we'd be screwed.

Your wife was a wise lady to go into health care.

I made fun of my sister when she took a job with a company that makes catheters of all things.

Now here I am working in a ruined financial field and possibly having to change careers and their business has never been better.

Shows how much I know. Im too dumb to be a doctor and too ugly to be a nurse.

reply to post by Wildbob77


I'd wait to re-invest until after you either see the stocks hover around the same price for a week, or even until you see 3 consecutive days of gains, no matter how small.

Investing right now means you run the risk of the companies going bankrupt and losing it all.

yah, next week will be interesting. If history repeats itself, it will be wed before we see the BIG crash (Monday is a holiday).

reply to post by redhatty




I dont know.


I still think this afternoons closing hour could spell bloody murder. I hope you are right though.

Today I bought gas for 2.88 a gallon, that is down from over 3.50 earlier this week. I actually filled my tank up for the first time in months and months just in case (and cause it was cheaper)

I'm helping my dad out at his company this week, as I do from time to time. This morning the phones are dead quiet. The fax machine is quiet and emails are quiet. Granted Monday is a holiday but most businesses don't close for columbus day in his line of work, which is oil and gas related.

Its friday morning...... they should be slammed with last minute orders and panicky phone calls from people having end of the week equipment or a supply crisis etc.

Originally posted by BlackOps719

Christmas shouldnt be about how much over priced crap you can buy someone anyways.

This statement is a pretty good summation of how we got here . . . great big friggin' houses full of the latest and greatest furniture, big screen high def televisions with surround sound home theatre Dolby IIIII systems . . . Xbox . . . WII . . . video this . . . $200 running shoes . . . bling . . . blang . . .

All bought on 'credit'

Burried in what Bush babbled about this morning was the statement that they're working really really hard to free up credit to help families meet daily needs

Therein lies the rub, bub.

If you need credit to live day-to-day, the jig (I'm sorry to say) is up and collapse is inevitable because you eventually don't have enough credit to live and cover the interest nut.

Ain't that how we got here in the first place.

reply to post by BlackOps719


yah, at a non-profit gov't subsidized hospital even. Her job is secure.

In the meantime, maybe i'll have to learn how to make fruitcake

Thank God for Columbus Day

The dow can only fall about 1100 points before trading is suspended.

So, on the positive side, we can only lose about 14% today.

We'll all just have to wait and see.