Dow Closes. Up 936 Points, page 3
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ATS Members have flagged this thread 5 times


reply posted on 13-10-2008 @ 04:40 PM by LowLevelMason
And yet another fear mongering talking point blown out of the water:

"The DOW rallied only because of low volume!"

Wrong. Today's volume is the 15th highest of all time. Only 14 other days in the NYSE's history have had a higher volume.
Source:
online.wsj.com...

OK, I'll stop now, I might send the fear mongering people into a hysterical fit with all these facts as they struggle for a reason to explain away what was supposed to be "Black Monday" according to most on ATS

[edit on 13-10-2008 by LowLevelMason]


reply posted on 13-10-2008 @ 04:47 PM by TARBOX
reply to post by tide88



I understand that....and I do stand corrected.

However, do we really know for sure that the money hasn't been used just because the government says so? I believe this government as much as I believe the Earth is flat.

Do I believe that the worlds economy is going to crash? I don't know because I am not in the government or the banking system. But some posters here seem awfully sure that it's not. No one can say 100% that it will or not. That is why I question those who are certain that it won't.

Like you....I am just asking questions.


reply posted on 13-10-2008 @ 04:55 PM by netwarrior
reply to post by Mainer




Metaphor.

I think the actual "green" money supply in the US is only 3% of all the money that is out there. 97% is nothing but ones and zeroes, on and off, volts or no volts.


reply posted on 13-10-2008 @ 05:28 PM by traderjack
Originally posted by LowLevelMason
And yet another fear mongering talking point blown out of the water:

"The DOW rallied only because of low volume!"

Wrong. Today's volume is the 15th highest of all time. Only 14 other days in the NYSE's history have had a higher volume.
Source:
online.wsj.com...

OK, I'll stop now, I might send the fear mongering people into a hysterical fit with all these facts as they struggle for a reason to explain away what was supposed to be "Black Monday" according to most on ATS

[edit on 13-10-2008 by LowLevelMason]


This is true. However, the fact that banks were closed today DID effect the trading. I don't want the market or the economy to fail, frankly, I like my cable, I like my vacations, and I even like WalMart.
Nevertheless, I am bettin' on hard times ahead. This was, is, whatever, a dead cat bounce the size of Siberian Tiger. This is market volatility defined.

Sorry to smack down your sunshine, dittohead feelings of hope.


reply posted on 13-10-2008 @ 06:09 PM by burdman30ott6
Originally posted by In nothing we trust
Originally posted by Mainer
I believe we are a ta point where it is not physically possible to print all monies promised due to limitations on obtaining ink, paper and the physical time it takes to print the bills.


Maybe they should start printing bills in larger denominations?

$10,000 bills
$100,000 bills
$1,000,000 bills
$1,000,000,000 bills

[edit on 13-10-2008 by In nothing we trust]


It worked for Zimbabwae! Oh... wait...

Also, to correct a wrong perception several seem to harbor about me, I am NOT a doomsayer. If anything, I was one of the most doe-eyed dreamers on ATS for quite awhile. The simple fact is, the last month or so have made me open my eyes to alot of stuff I used to spend countless precious hours defending against your so-called "doomsayers" here. I'd love to be doe-eyed again, really, I would. Unfortunately I cannot afford myself the luxury of viewing one abberrant "good" day after a long string of truly horroriffic economic days as suddenly returning us to the land of sunshine & farts. Our market had a tumultuous an extraordinarily volitile day today, the important thing isn't the direction it went, but the fact that it went in this direction so drastically. One thing about the economy, drastic is NEVER good and NEVER sustainable.

Also, like I said before, regardless of whether today's upswing sustains itself or ends up being completely wiped out by week's end, one issue remains. We, the American tax payers, still stand before this market SCREWED by our own government. The bailout was, plain and simple, financial rape. It was every bit as damaging as the Japanese soldiers rape of Nanking in WWII. Furthermore, Wall Street was an implicit accomplice in that raping of America. Don't know about you, but I have just a little bit of trouble making eye contact with someone who just railed me, let alone congratulating them on their score.



reply posted on 13-10-2008 @ 11:20 PM by Ahabstar
Hmmm, haven't heard about any change in plans by GM in plants that are going to be shut down and the resulting job losses. Correct me if I am wrong, but will that not translate to less morgage payments being mae on time by people that were responsible but victims of knee-jerk reactionary planning by those that never worked a day in their life?

In my factory, a supplier to a locomotive builer, we had an order of parts for 700 or so to be built this year. We did maybe half of those so far. Next years order to date is for 27...my particular area can build those parts in 10 days provided we have parts on hand. So, yeah. I could finish out the remaining job orders for this year and next by Halloween easy.

A 2 billion point upswing of the Dow Jones does not fix the problems of the system:

That being a valueless currency that only has a remotely vague tangibility which is getting more added to the mix an the Fed orders more printed.

The people with large amounts of cash have no tangible means to spread the wealth and make more the old fashioned way by having a wide and diverse trade.

People with less brains than they will admit play the market instead of going to casinos with the hope of they will become the house with the odds in their favor.

People that have less depend too greatly with full faith and credit that those they do trade time in labor to that become richer will honor the contract of collective benefit. All too often it is the hourly worker that suffers while the salary worker has made their stake and moved on.

And lastly, that people willing put up with such a closed loop system in which they have not voice nor control over their own destiny due trying to participate in low risk advancement of their own lives and that of their family. Me, I have it easy as I have never married nor fathered children. I can pack up my stuff and move out to where no one lives and substance survive until my eventual mortality finds me. But the family of 4 can not in good conscience subject themselves the same way especially when the friendly fractional reserve banker wants his interest on dollars that never physically existed in the first place. All because some billionare would like to know why his $10 million investment devalued itself by $500 on an otherwise dreary Thursday out of pure subject concensus of the probable value of his stock at that particular moment. Nevermind the fact that it will rebound tomorrow or the next day to a net gain of $200 because the foreclosure papers have already been drawn so no sense in letting that effort go to waste.

Personally I find it hard to get too excited as I could have dropped a $100 on Ford Motor Company last Friday and could have sold today for a $2 gain, then there are those pesky broker fees....now if I had a spare $100 million last Friday, E-Trade would have cut a me check for $1,999,950.

But if I had $100M laying around I would back a summer blockbuster for a far larger return. Put about 6000 to work directly and indirectly via movie theaters. And maybe won an Acadamy Award for not being a tightwad or whatever that catagory is called now.


reply posted on 14-10-2008 @ 05:02 AM by dizziedame
reply to post by RiotComing


We scream that we want change. The problem is not many are ready to give up the luxuries they are now enjoying. They don't want to leave their comfort zone.

I have felt the same as you but just had not voiced it yet for fear of seeming uncaring of the hardships some people will find themselves in.

We are not going to have good change in our way of life without sacrifice. I am ready to get back to nature and the 'good life' our forefathers had.

Thank you for your post. You said what I wanted to say but had not the courage to do so.


reply posted on 14-10-2008 @ 07:12 AM by rickyrrr
reply to post by dlongwell547



I'll make some bets:

The fact that the Dow is up tells you nothing about individual companies and consequently job cuts, which is perhaps the root driver of the economy. People without jobs don't have any discretionary spend money.

A lot of stock was sold and then bought again not necessarily in the same proportions. Weaker companies are going to take a hit and some may disappear.

GM is already merging with Chrysler, a move predicted months ago which is likely to result in job cuts. Detroit in general is going to have a surge in unemployment. And there may be more mergers ahead, given how ford is doing. That alone could be scary as the auto manufacturing sector is such a large chunk of our industry, it depends on steel, it affects local producers of paints, glues, plastics, manufacturing equipment and so on.

Ebay already announced job cuts as well.

The extent of the job losses will not be fully understood until after Christmas where consumer spending will reflect quite clearly how the economy is doing.

-rrr
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