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

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posted on Oct, 10 2008 @ 02:58 PM
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As I said earlier, today won't be too bad.

Monday it could really tank.

You've got way too many people who have money for their retirement, still in the market. It's going to gnaw on them all weekend.

Then, they're going to watch the market on Monday morning and decide it's time to bail.

I think Monday will see another big drop.

Just my opinion.




posted on Oct, 10 2008 @ 02:58 PM
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As soon as I type it changes. -62. -63. -68. Updates are coming a little slow, I think there's massive volume.



posted on Oct, 10 2008 @ 02:59 PM
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Volume at this SECOND lol = 548,325,960.00



posted on Oct, 10 2008 @ 03:00 PM
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reply to post by Wildbob77
 


Are the markets open for trading on Monday? I know its Columbus day here in the States. Not sure if it's closed or not.



posted on Oct, 10 2008 @ 03:00 PM
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Alright, the bell has officially rung. Lets start to see what the final numbers will be. 40 down right now.



posted on Oct, 10 2008 @ 03:00 PM
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There's the closing bell. Numbers will continue to update over the next 5-15 minutes.



posted on Oct, 10 2008 @ 03:00 PM
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reply to post by grimreaper797
 


um no its not baseless. The dow was at 5000 during the 90s when the tech bubble started. The deep recession that should have happened didn't because of the housing bubble. No more bubbles. My guess is 5000. But who really knows?



posted on Oct, 10 2008 @ 03:00 PM
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Originally posted by stander
2:30 pm: General Motors and General Electric off the green. Banks are losing steady. Buckle up for 3:00 pm. It may go bellow 8000.




Ready? Go!


Noooooooo!!! Not that way! Oh, sh-t!



[edit on 10/10/2008 by stander]



posted on Oct, 10 2008 @ 03:00 PM
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If it isn't being manipulated, I wish it would have closed on the positive, that would've been really nice to see.

Still, things turned out a lot better than I thought possible. Not a horrible close today. We'll see what Monday brings...



posted on Oct, 10 2008 @ 03:00 PM
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Originally posted by grimreaper797
reply to post by 2 cents
 


That is a baseless guess. In reality, it seems like 7500. Some believed 7700. 7900 may have been it though.


Ya know Monday Cramer called it at low 8000's by "the end of the year", it blew through that before the end of the week. This might be unprecedented times, too difficult to guess. Look at that volatility today both in stock average and trading volume.

I am unsure two decades ago computers were fast enough to keep up with this market. Think about that.



posted on Oct, 10 2008 @ 03:01 PM
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And this is why acting hysterical and panicking on every intra-day swing on the stock market is not only pointless, but often makes you look like a fool later. The only people who should care about it are day traders, for everyone else its pointless.

Of course when I said this earlier, everyone just said I had no idea what I was talking about


Stock market doom canceled for today, but I'm sure if we really hope and pray for it we might get some doom in monday!




The only number that matters: Dow ends the day at ~-100

Black Friday canceled.

[edit on 10-10-2008 by LowLevelMason]



posted on Oct, 10 2008 @ 03:01 PM
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reply to post by TXPatriot38
 

Thanks for the info. I appreciate it.


Dow closed. 2.4 billion shares traded. That's pretty big volume.

Any guesses what the Dow will settle at?



posted on Oct, 10 2008 @ 03:01 PM
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reply to post by 2 cents
 


It was down to 5000 in the 90's, so why would it be that number almost a decade later. Its definately going to be HIGHER than 5000. Considerably higher. If you want to be pessimistic, 7000.



posted on Oct, 10 2008 @ 03:01 PM
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Originally posted by alphabetaone
Volume at this SECOND lol = 548,325,960.00


Holy crap.
595,213,617

It's going to take a while for this to clear through the system.

-79, doesn't look like we'll close up.
-94



posted on Oct, 10 2008 @ 03:03 PM
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My guess is 8379.

only a guess



posted on Oct, 10 2008 @ 03:03 PM
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Originally posted by LowLevelMason

The only number that matters: Dow ends the day at -51.30

Black Friday canceled.


It will probably end up more like -200 over the next few minutes. That number is NOT final. But still you are right, no black Friday for us.



posted on Oct, 10 2008 @ 03:03 PM
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Originally posted by LowLevelMason
The only number that matters: Dow ends the day at ~-100

[edit on 10-10-2008 by LowLevelMason]


I disagree. I think this sort of volatility is what is doing the real damage not the final numbers. There is a point where the trip itself undermines the confidence.



posted on Oct, 10 2008 @ 03:04 PM
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reply to post by grimreaper797
 


Because we have had a decade of over inflated wealth. Houses are overpriced and so is the dow.



posted on Oct, 10 2008 @ 03:05 PM
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reply to post by maus80
 


-105 points. I think the change is going to slow considerably, or even stop now. Usually only takes about 5 minutes to get it sorted out.



posted on Oct, 10 2008 @ 03:06 PM
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There's a lotta volume though to get sorted out.... Still most likely circa -100 will be the mark.


AB1




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