MY guess is it will close between -300 and -500 pts. Anyone else have any predictions?

Thanks for the post. I have watched CNBC for 2 weeks now daily and today of all days I didn't have it on. I work in a bank in the credit dept. so this definitely affects me. I had the good sense to put my 401 in bonds a while back to avoid losing my shirt so to speak. While I'm not making money,I'm not losing it either, but my job, well no job no 401K. Not a good day.

MarketWatch.com:

Countdown to the close:286min23sec
October 22, 2008 10:13 A.M.ET
BULLETIN
Dow falls as much as 390

Looks like we are in for stormy weather today.

Ahhhh . . . market prediction time . . .

[shuffles in to room . . . grabs blindfold and a dart . . . tosses it toward ‘big board’ . . . THUNK . . . it lands on . . . . . . . . . ]

The big fat red beak of Ben Bernanke who gets all angry and request an immediate influx of capital to his wallet to get the damn dart out of his schozzzzz.

Investment bankers react all nasty like because they feel Bernanke’s bucks were supposed to line their nests . . . . er . . . hide their mistak . . . . er . . . loosen the lines of credit.

Regardless, they’re pissed and the markets react in kind.

Down 560 by day’s end.

i think i posted this like 3 hours ago.

It looks like its leveling our a bit right now.

shedding some of the fear, now the market can trade normally for the day, so the rest of the way today will be based on regular trading, so it may do anything. But it will regardless be very volatile. I do think it will be down, but im not thinking 700. It should make up some losses. then calm down untill the last half hour or so.

I'm thinking of a 400- 600 point loss today.

Premarket data! haha


Its about 10 posts down the global meltdown page. just ignored..haha I didn't put a cool chart on mine. Survival of the fittest. haha

But the premarkets were down about 200-275 most of the evening after the European markets started tanking.




The markets are looking a lot more passive now, earning back a lot of its losses thanks to the Europe markets.. Just wondering what it will do at the end of the day, it will basically just be a crap shoot come 2:30 (central).

Im just trading oil and financial Ultra shares today. Pretty predictable trading there. About to start shorting oil again. Looks liek it made some gains and about to drop a bit again.

Eh, what the hell... My prediction: We close up 130 points for the day. Why do I say this? Easy, another day of heavy losses is the logical course to expect the market to take today, and this market has become anything but logical. In fact, it seems to go out of its way to act illogically, so I'll buck the prediction trend and say today will be a good day for profit vultures.

copy and paste old Rhetoric....

Nah, we will be fine. Don't pay attention to facts and figures, charts and stuff.

Sure we have a few thousand new homeless living in tents but thats their fault for being unsavvy. They need to join the military get off thier butts and quit smoking those expensive cigarettes or quit buying those expensive foods....

Everyone just needs to go out and buy a new plasma or lcd tv, a new chair or some furniture, new car or truck, ( Ford or GM or Chrysler) take a vacation ...everything is fine.....its all in your head.

Have a great American beer...This Buds on me!

No need to panic, the fundementals are strong.

Quit being unAmerican, get off your butt and get a job....yada yada............

The economy is resiliant.

The only thing to fear is yourself or something like that.

ignore Ron Paul.

edit...the above is the kind of crap I got yesterday when I called about a mutual fund....from two different companies....they basicly told me not to pay attention to CNBC, relax, ignore Ron Paul....etc

[edit on 22-10-2008 by whiteraven]

the Asian markets... used the excuse that, they see American & multi-nationals profits being dramatically reduced by a recession of the USA.

so... the US markets ate-up that news... and likewise are in the falling mode.


it is apparent that all world markets are reacting to rumor & fears rather than statistics or fundamentals --- which are no longer relevent to USA banks & financials, as a result of the 'bailouts' & recapitalization schemes :p


with the Fed backing one half of the american business enterprises to the tune of Trillion$...and globally the various central banks are pumping in Trillion$ into their banks & financial institutions...
there is no 'historical' trendline to follow or compare the present situation with.
so, imho, these major fluxuations are something to be taken advantage of...
just about what 'The Oracle of Omaha' told us minions.... "I'm buying American"....is what Warren Buffet says, and explains that he sees a profit to be had in 3-5 years !


PS {i'm crossing my fingers that gold mining stocks keep retreating... at least till after NewYears... & maybe spot bullion goes down to $650.
...as that will condition will signal my personal 'buy' opportunity...}