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

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posted on Oct, 10 2008 @ 01:32 PM
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Apparently the G7 have come up with a plan but Italy are refusing to sign.

Not sure of the details as I just caught the headline on Bloomberg TV.

All this talk of Chrysler and Ford going bankrupt, Morgan Stanley shares falling and the British/Iceland issue is making me really jittery now!




posted on Oct, 10 2008 @ 01:33 PM
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It is all over the place!!


The graph on Yahoo from todays trading looks like the heart monitor of a dying patient who has gone into cardiac arrest and been revived over and over again. Up and down up and down.


Never seen anything quite like it.



posted on Oct, 10 2008 @ 01:35 PM
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Originally posted by BlackOps719

Radical Measures May Be In The Wings





As the financial crisis threatens to spiral out of control, it’s more likely Treasury Secretary Henry Paulson will take extraordinary steps through the extensive authority granted to him under emergency rescue legislation, say analysts.

With the legislation’s main mechanism—an auction system to purchase bad mortgage-based securities—still weeks away from implementation, Paulson may have to inject capital into any number of financial institutions—even non-depository ones like investment banks, insurers and hedge funds.

“I don't wish to spread alarm on the line people but the big issue confronting the market is I'm afraid the health and sustainability of Morgan Stanley (NYSE:MS - News) and Goldman Sachs (NYSE: gs)," Hugh Hendry, Partner and CIO at Eclectica, told CNBC. "It is unimaginable that they can be allowed to go, I suspect that they will be nationalized at some point today or over the weekend," he add.





CNBC



Have a go at that!! Looks like the suits are getting desperate.




For those who may have not seen this the first time around



posted on Oct, 10 2008 @ 01:35 PM
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Great, one analyst on CNBC just said "It is a friday, the last hour is going to be carnage. Its going to make the opening today look like a walk in the park."

If the last 7 days closing are any indication, he is spot on. My nervous rating is up 100 bps lol



posted on Oct, 10 2008 @ 01:35 PM
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Well we are coming up on the last hour, what do you guys think is coming, another mass selloff like yesterday which would be very bad. Or do you think the market will make a strong puch to try and boost things a bit.

My guess is for the latter but ive been wrong alot latley so who really knows.



posted on Oct, 10 2008 @ 01:37 PM
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reply to post by Trayen11
 





I think Grimreaper just covered it.


I am not optimistic.



posted on Oct, 10 2008 @ 01:38 PM
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2:30 pm: General Motors and General Electric off the green. Banks are losing steady. Buckle up for 3:00 am. It may go bellow 8000.




posted on Oct, 10 2008 @ 01:38 PM
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reply to post by Maya00a
 


Why are Italy considered a major economic power? that nation has a dreadful fiscal policy and is the sick man of Europe. Public debt is 105% of GDP in Italy, so are you SERIOUSLY telling me we need their advice during an economic crisis?? Oh FFS...

While we're at it, let's take democratic advice from Mugabe or allow the Chinese to given a presentation on human rights



posted on Oct, 10 2008 @ 01:38 PM
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has anyone looked at precious metal prices...

holy #!!!

gold down 7.75%

silver down 20%

BUY NOW PEOPLE!!!



posted on Oct, 10 2008 @ 01:40 PM
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Originally posted by JipStix
has anyone looked at precious metal prices...

holy #!!!

gold down 7.75%

silver down 20%

BUY NOW PEOPLE!!!




If you can find it, that is.



Stander - Im not doubting -8000 one bit, I think it is a given.

Im more worried about -7500 or god forbid -7000.

Could it happen?

[edit on 10/10/08 by BlackOps719]



posted on Oct, 10 2008 @ 01:42 PM
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reply to post by BlackOps719
 


Luckily my mom has this book of these gold stamps that has to equal to an ounce of gold or so.. it will be helpful i think in the long run



posted on Oct, 10 2008 @ 01:42 PM
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reply to post by stander
 


GM and GE are just rising some because they declared they aren't going bankrupt. I have been saying JPmorgan is a good buy, but Im still surprised that they went positive today.



posted on Oct, 10 2008 @ 01:46 PM
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Lots of whistling and cheering on the trading floor...the talking head didn't seem to know why.

"YAY we're only down 473!!!! WOO HOO!!"



posted on Oct, 10 2008 @ 01:48 PM
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Originally posted by Maya00a
Apparently the G7 have come up with a plan but Italy are refusing to sign.

Not sure of the details as I just caught the headline on Bloomberg TV.

All this talk of Chrysler and Ford going bankrupt, Morgan Stanley shares falling and the British/Iceland issue is making me really jittery now!



Why is Italy refusing to sign?


Anyone?




Edit - slight gain...now at -381

[edit on 10/10/08 by BlackOps719]



posted on Oct, 10 2008 @ 01:52 PM
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reply to post by BlackOps719
 


Because Berlusconi is an insane fascist with ties to cosa nostra. Sorry. Cosa Nostra. Please I meant no disrespect, don't shoot....!!!!!!!



posted on Oct, 10 2008 @ 01:55 PM
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reply to post by Ismail
 




Good answer!! Makes sense to me.


Back down to -481 with 35 minutes to go until the final half hour of trading.


This should be a great indicator of what is to come next week.



Edit - -511

[edit on 10/10/08 by BlackOps719]



posted on Oct, 10 2008 @ 01:56 PM
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Originally posted by anachryon
"YAY we're only down 473!!!! WOO HOO!!"


I've been thinking that way most of the day while we floated around the -300 mark . . .

Bizzare to think that being down 'only' 300 ponts made me feel kinda good.

It is a tad scary how you get numb to it after a week of it. Maybe that's part of the plan . . . let them numb up about five percent drops in the market then the gradual devaluation of everything that is American either won't seem so bad or won't even be noticed.

Really . . . how many people have you talked to and have honestly said they really don't have any idea or really care what's going on in the economy.

I've talked with several who glaze over when this is discussed, my partner included who outright says that the whole thing just doesn't interest her.



posted on Oct, 10 2008 @ 01:58 PM
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If we see the Dow go up or try to go up in the next .5 hours I believe this may be the Fed begin to buy up some banks and maybe GM....


It is unimaginable that they can be allowed to go, I suspect that they will be nationalized at some point today or over the weekend," he add.


We can expect anything?!

Very very volcanic situation:

Reminds me like being pinned in a "friendly's" crossfire....FUBAR.

[edit on 10-10-2008 by whiteraven]



posted on Oct, 10 2008 @ 02:00 PM
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reply to post by GoalPoster
 


Don't worry, she will change her tune when she loses her job. That or her hours are cut. People just don't care till it directly effects them. Quite sad really. I hope this crisis gets to the point of directly effecting everyone adversly. It will make them care.



posted on Oct, 10 2008 @ 02:02 PM
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Originally posted by BlackOps719
Back down to -481 with 35 minutes to go until the final half hour of trading.


Final hour. Markets close at 4pm EST.




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