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

Originally posted by LowLevelMason
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.

I saw you change that -53 to ~-100. Forget about the final trades filtering through, did ya?

If you think one day of trading where we didn't lose 500pts is a "victory" for your point of view, I'm frankly disturbed by that. The gloat in your post is rather obvious, and it's not becoming.
What was that about looking like a fool?


************************

Trivia: today was the first day in history the Dow traded over a 1000pt range.

Volatility is not always bad. Its actually helping confidence. The panic selling has a ton of buyers who are snapping up fire sale deals, and those people are very happy.

Originally posted by LowLevelMason
The only number that matters: Dow ends the day at -51.30

Black Friday canceled.

Well, I guess if we ignore the rest of the week then Friday looks pretty good. On the Dow, anyway. And if we ignore the European and Asian markets.

I see your point about panicking. Still think that today's final hour was utterly extra-ordinary, though -- and there was some evidence of panic.

Note: Dow final trades now being settled out. -112 at the moment.

Looks like it will be -112.55


we'll see if it changes

reply to post by 2 cents


So you are saying we have had 0 growth over the course of a decade? Come on. 7500 seems like a pretty realistic number as to where the markets should balance out. 14,000 was inflated, 7500, not so much.

[edit on 10-10-2008 by grimreaper797]

Originally posted by LowLevelMason
Volatility is not always bad. Its actually helping confidence.

Yeah makes me want to run right out and invest

Good lord....I need a drink.



This has been one screwball day.


Im happy things ended on a somewhat positive note, although the real tell will come Monday once this whole mess today has been sorted out and G7 has made some sort of statement.


Crazy is the only word for it.

reply to post by LowLevelMason


ahhhh just a bear market rally, or bounce. we are still in decline.

-100 a month ago was nothing to snicker at. my how the senses get dull fast.

If I had money, I would consider investing on monday/tuesday. Especially if the G7 does act. The market may have hit its bottom today. If the G7 does act, it is unlikely that the market will plunge much lower than what it has today. That means good buying deals on the table.

reply to post by grimreaper797


All I'm saying is that we weren't far from 7500 at opening today. But we are far from this crisis being over. You know its just my guess. But I don't think it will be far off the mark. We'll see.



[edit on 10-10-2008 by 2 cents]

-128


spoke too soon

We can all safely conclude that the market was being manipulated by someone...

Many think this is a good thing...I'll say it's the opposite because investor don't know what to expect, plus they will likely withdraw their money and cut their loses. And we all know that a collapse is imminent.

Volume is still massive. 672,211,027. It's gonna be a slow resolution today.
-128

Personally, I think this is anything BUT positive.

I think the speculation that will reverberate due to it will cause more trouble than actually having closed at a steady -250.


Just my opinion.


AB1

What can we do I just feel so damn helpless.. I think this is/was purposely done, I think this has been planned for a long time. Seriously all the worlds economies getting hit, this can't be a mere coincidence or chance although people are pulling out in fear of the possible.

Originally posted by anachryon

Originally posted by LowLevelMason
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.

I saw you change that -53 to ~-100. Forget about the final trades filtering through, did ya?

If you think one day of trading where we didn't lose 500pts is a "victory" for your point of view, I'm frankly disturbed by that. The gloat in your post is rather obvious, and it's not becoming.
What was that about looking like a fool?


************************

Trivia: today was the first day in history the Dow traded over a 1000pt range.

Oh no, you caught me! a -50 point drop! Thats so HORRIBLE! If you think acting hysterical and panicking over intra-day trading swings is victory for the economic doom brigade, I'm disturbed.

There is no gloat, only facts - your posts though, are always very gloating:

Trivia: Everyone predicted Black Friday and economic doom today, and they were wrong.

The point - stop trying to cause unnecessary panic. If you believe in it your only getting your blood pressure up, and the few who are embracing ignorance enough to follow aren't enough for all your efforts to stir up the hysteria.

Once we END the day down a large percent, then you can at least legitimately began spreading the fear mongering.

reply to post by BlackOps719


I'll take ya up on that offer.. i'm pouring myself a glass of wine right now..

Cheers!



Edit to add-

The big question now is WHO was doing the manipulation? Any idea who was responsible for doing it?

[edit on 10-10-2008 by Ketzer22]

By saying positive, I meant that at least it didnt finish up -900 like it very well could have.


No question manipulation was taking place in the last hour of trading. It wont do a thing to help boost investor confidence, but at least we managed to avoid an all out and total collapse.

For a couple of days anyhow.

reply to post by BlackOps719


True enough.


AB1

This day of blatant manipulation, coupled with a weekend of staged speeches I have no idea what Tuesday will bring.

Any ideas?