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

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posted on Oct, 10 2008 @ 01:14 PM
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Even if the market drops its pants today, in the long run, there is nothing much to fear, because comrade Paulson will take care of things:


The Bush administration is considering a partial nationalization of some banks, buying up a portion of their shares to shore them up and restore confidence as part of the $700 billion government bailout. The notion of government ownership in the financial sector, even as a minority stakeholder, goes against what market purists say they see as the foundation of the American system.

Yet the administration may feel it has no choice. Credit, the lifeblood of capitalism, ceased to flow. An economy based on the free market cannot function that way.


www.msnbc.msn.com...




posted on Oct, 10 2008 @ 01:15 PM
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Originally posted by anachryon

That's 8.625 cents on the dollar in recovery.
This is not good.


The market disagrees. Jumping up now.



posted on Oct, 10 2008 @ 01:15 PM
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reply to post by infinite
 


Nah, Im going with 7350-7500. I think we will see small falls over the coming weeks.


JSR

posted on Oct, 10 2008 @ 01:17 PM
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Originally posted by Mainer

Originally posted by anachryon

That's 8.625 cents on the dollar in recovery.
This is not good.


The market disagrees. Jumping up now.


rolling back over now......



posted on Oct, 10 2008 @ 01:18 PM
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Originally posted by Mainer

Originally posted by anachryon

That's 8.625 cents on the dollar in recovery.
This is not good.


The market disagrees. Jumping up now.




Correction....WAS jumping up.

-394 down fron -298 seconds ago



posted on Oct, 10 2008 @ 01:18 PM
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This market is out of control...

Guys be prepared... please!!! Get food and protection for your family.

The last hour will see a huge unloading of stock. It'll probably end up in the -700 to -900 range. These markets are like a beaker of nitroglycerin in a washing machine, it's only a matter of time before the whole thing goes.



posted on Oct, 10 2008 @ 01:20 PM
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Down 445 now... going to be an ugly final hour.

yikes!



posted on Oct, 10 2008 @ 01:20 PM
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Did you guys here? UK banks have started lending to each other on a small scale now.

Those investors are idiots and should let the market go down. A 10% drop would be the best shock treatment; daily 5% drops end up creating fear worse confidence problems than a market crash.

And, as the traders believe, no global deal over the weekend and there'll be a blood bath on Monday. As one analyst said on CNBC, the markets are pricing in a depression - not a global recession.



posted on Oct, 10 2008 @ 01:21 PM
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Gah what a coaster! Sales of antacid at record levels in lower Manhattan.


JSR

posted on Oct, 10 2008 @ 01:22 PM
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reply to post by Mainer
 


yea...and most of it is going to the PPT trading room




posted on Oct, 10 2008 @ 01:23 PM
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Monday is a bank holiday. Guess it'll be another black tuesday. How appropriate...



posted on Oct, 10 2008 @ 01:24 PM
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gah, delete

[edit on 10-10-2008 by infinite]



posted on Oct, 10 2008 @ 01:25 PM
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The backlash of this will be greater than we could ever imagine............



posted on Oct, 10 2008 @ 01:26 PM
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reply to post by Ismail
 


I know, but apparently stocks are still open for trading (that's what CNBC said)

How ironic, the CNBC website has crashed


Also, the media is ignoring the fact that banks are starting to lend to each other again in the UK. Surely that is a significant sign that the British plan should go global? (Germany are against the idea though)



posted on Oct, 10 2008 @ 01:27 PM
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reply to post by rikk7111
 


In the words of Yan Solo, "I can imagine quite a bit"... Sorry, that was overly geekish. But I do know my classics.



posted on Oct, 10 2008 @ 01:29 PM
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finance.yahoo.com...

Look at the volatility. 75 points. I honestly have no clue how this market will close today. It is just too volatile to know. Volatility has NEVER been this high. As a result, I can't be sure how the last 45 minutes of trading will end. I am slightly nervous.



posted on Oct, 10 2008 @ 01:29 PM
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and here we go, dropping like a rock again.

at -511



posted on Oct, 10 2008 @ 01:30 PM
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they seem to be making another downturn. I believe they where just happy to hear a deal got reached for the leamon bros bank. and they have yet to digest how low it was and we will see a slow fall untill the last hour when it will rest at about -700 - -800. just my guess though.



posted on Oct, 10 2008 @ 01:30 PM
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reply to post by BlackOps719
 



posted on Oct, 10 2008 @ 01:31 PM
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Reuters

Sellers of protection on bankrupt Lehman Brothers will have to pay out 91.375 percent of the insurance they sold, based on the results of an auction on Friday to determine the value of the credit default swaps.

The final value of the contracts, which are estimated to be around $400 billion in volume, will be 8.625 percent, according to results published by auction administrators Creditex and Markit.


$365.5 BILLION in payouts if the contract estimates are correct.
THREE HUNDRED AND SIXTY FIVE BILLION, FIVE HUNDRED MILLION DOLLARS.



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