Dow Jones down again, page 3

reply to post by Unit541

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the lowest it hit was back in September I believe, at 7,773.71

reply to post by warrenb

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No, that intraday low was in October. September's levels were downright celebratory compared to what we saw today. This might be a really bad omen, what we just witnessed. I'd have expected the PPT to at least try to keep the Dow from breaking the 8,000 point floor. They either didn't try (let's hope) or weren't able to offset the sell offs (which is very possible as I just saw that 15 minutes after the closing bell, after hours trading is already down another 125 points). If all the auto-buy computer programs are reset tonight to take this all into account and are bumped down to a much lower threshold before their automatic buy protocols kick in, tomorrow might be a very, very bad day.

It's getting almost impossible to see any light at the end of this tunnel.

reply to post by Unit541

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I don't even see a train. At least that would indicate a swift, relatively painless death followed by the cool, loving embrace of death.

BTW, anyone who can answer this feel free, did we just see the beginning of Citi going under today? The credit default swaps for them went nuts today and were apparently a big ticket item in the market. Are they the next target? Correct me if I am wrong in this belief, but wouldn't a colapse of Citi basically be the straw that breaks the camel's back, opening up the floodgates on the derivative market and jamming a pin into that bubble?

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