Wednesday on the Markets . . .

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posted on Oct, 15 2008 @ 11:45 AM
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Oh my GOD . . . rejoice . . . happiness in the streets . . . . We're back over 9000 now.

I think I'll make that trip to the mall and run up my American Express . . . .



Oh crap . . . I hate my life.




posted on Oct, 15 2008 @ 12:04 PM
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As mentioned earlier, retail earnings reports are coming in and they're not so good.
The LIBOR and TED spread are not coming in as quickly as expected. That's really not so good.
Then there's this:


German banks with funds to lend are offering about 200 basis points above Libor, double previous rates, while in Singapore the rate is plus-350 points, according to Tobias Koenig, managing partner of Koenig & Cie. In the main though, shipping lines aren't able to borrow, he added.

"There is no rate because all banks are closed for business,'' he said. "You have a few banks rescuing their best customers, but that's it.''

That is definitely REALLY not good.



posted on Oct, 15 2008 @ 12:07 PM
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Originally posted by JSR
did anyone notice that oil closed at 75.94?!
if that keeps up, it wont be profitable to pull it out of the ground. and me and my petrochemical job will dry up. yikes!

[edit on 15-10-2008 by JSR]


Are you serious? And what were you guys doing roughly 24 months ago when the prices were below that level? Oh yeah, still making pretty decent 'RECORD' profits. Don't feed us that.

On everything else you said, pretty much spot on.



posted on Oct, 15 2008 @ 12:10 PM
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Originally posted by JSR
reply to post by whiteraven
 


i think i read somewhere it was around 45 or 50. but, break even dont cut it with these guys. it there isn't a good profit, it's lay-off time.

---------edit---------

if it holds, ill be ok. i hope it holds.



[edit on 15-10-2008 by JSR]


I'm glad you cleared that up. hehe

It is about the bottom dollar and what I hope these guys realize (which I doubt seriously) is that their record profits of the last few years was done on a great deal of speculation. That it would eventually come back down to where they were making 'GOOD' profits.

No more records for a while. If they do layoffs because of this then they will show themselves as the greedy money grubbing bastardos that many people have labeled them as.



posted on Oct, 15 2008 @ 12:40 PM
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Well, Bernanke shoots off his mouth . . .

Blah Blah Blah


. . . and we're down over 500 now.


Go figure



posted on Oct, 15 2008 @ 12:41 PM
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DJIA went down over 500 for a 5.5% drop on the day. It's trying to rebound some without much success.
Volume is on the low side and volatility is very high.
This is not a healthy day on the Dow.


JSR

posted on Oct, 15 2008 @ 12:43 PM
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reply to post by dariousg
 


relax man....I don't work for the "big evil oil companies". I work for an engineering firm that services the oil companies. they pay my company, which in turn pays me. Jesus man, 80% of the computer your using to pigeon hole me, came from petroleum based products. good lord.......

the oil companies don't set the price. the futures markets do. otherwise, the oil companies would just keep it 150 and call it day.

and for future reference........im not "you guys". so stop stereo typing, ok uncle Sam?

ridicules. there are plenty more threads were you can go push your politics.



posted on Oct, 15 2008 @ 01:04 PM
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reply to post by whiteraven
 

The break-even price is not the cost that it takes to produce the oil; the price includes all expenditures that a producing country covers by selling the oil. So the break-even varies greatly. More on the subject here.



posted on Oct, 15 2008 @ 02:01 PM
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Originally posted by anachryon
DJIA went down over 500 for a 5.5% drop on the day. It's trying to rebound some without much success.
Volume is on the low side and volatility is very high.
This is not a healthy day on the Dow.


Steel thyself, the PPT is usually at lunch till 3pm.



posted on Oct, 15 2008 @ 02:17 PM
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Originally posted by Mainer
Steel thyself, the PPT is usually at lunch till 3pm.


Volume is back up to normal levels. Between the earnings reports, credit news, the Beige Book, and crude below $75 for the first time in 14 months, it's gonna be an interesting ride for the next 45 min.



posted on Oct, 15 2008 @ 02:51 PM
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We are witnessing an orderly descend toward 7500 by Friday. The official economic indicators are not available yet, but some of them are and they are interpreted as dismal by the market. It's a boring market.

I mean by Friday, next week.


[edit on 10/15/2008 by stander]



posted on Oct, 15 2008 @ 02:54 PM
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Originally posted by Mainer
Steel thyself, the PPT is usually at lunch till 3pm.


Looks like they have failed in their mission.
-650 with 5min to go.



posted on Oct, 15 2008 @ 02:54 PM
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Well looks like all the profit takers have taken their profit and fled once again the volatility of the market...Down 662 with about 6 minutes to closing bell.



posted on Oct, 15 2008 @ 02:57 PM
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reply to post by TH3ON3
 


Now down 705 points today. Schizo market.



posted on Oct, 15 2008 @ 02:59 PM
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-716 on heavy volume. The retail earnings report really is *that bad*.
-720
-725
Nearly an 8% loss.
-735



Edit: -747
-755
-770
-778

Freefall. Christ. Bell just rang, it'll take a few min to get the final trades through. -758 currently, give it 5-10min to finalize.

[edit on 10/15/2008 by anachryon]



posted on Oct, 15 2008 @ 02:59 PM
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And yet the plot stays true to the set course. Does anyone know when the fat lady will sing? And MOfree...you are surprised?



posted on Oct, 15 2008 @ 03:01 PM
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reply to post by TH3ON3
 


Not one bit.

Analysts and broadcasters weren't joking when they said Wall Street and the "free market" is done as we know it. The rules have changed and day-to-day stock trading will never be what it has in the past.



posted on Oct, 15 2008 @ 03:02 PM
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Originally posted by anachryon

Originally posted by Mainer
Steel thyself, the PPT is usually at lunch till 3pm.


Looks like they have failed in their mission.
-650 with 5min to go.


You know when its bad when the PPT starts shorting.



posted on Oct, 15 2008 @ 03:04 PM
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Today's economics lesson boys and girls is about "declines."

First we need some supplies. Find a rock about the size of a golf ball. Then find a nice fresh cow patty. If no cows are nearby, you can use excrement from a large breed of dog like a Great Dane or Mastiff.

Ensuring that it's quiet so you can hear, stand directly over the cow patty and drop the rock. Listen to the *sploot* sound it makes upon impact.

Congratulations! You have just demonstrated what our economy is doing!

735 and change in the red as of closing bell.



posted on Oct, 15 2008 @ 03:06 PM
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Looks like the G7 meeting was just to find out who could throw the dead cat the hardest........


I'm no expert, but I'd say if it continues to drop past the last low you'll see the banks Nationalize soon after. That, or more of the same downtrend until they do something extreme again. But here's to hoping.





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