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Big day ahead!! dow futures will open down 535 points today!!

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posted on Oct, 24 2008 @ 07:33 AM
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well, I smell a run on banks in the works. Being divorced and father of two, this economy is scaring me. The divorce took all my cash, support is expensive. I'm living check to check, so I won't be running to the bank to get the cash I don't have. Greed and power are destroying our country and our way of life.

I wonder if the market will finally trigger the "circuit breakers" today.

hang on folks, could be the start of what so many have posted and feared on this very site...........




posted on Oct, 24 2008 @ 07:34 AM
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How long from now do the markets open? And could someone please link me to a good website so that I can observe, when it does open.

Cheers... and good luck! Although sadly I don't think luck can help you now.



posted on Oct, 24 2008 @ 07:36 AM
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reply to post by KaginD
 

Why would you make a run to the bank and withdraw your money. Just because the stock markets are down doesnt mean the banks are closing. Also during the great depression there was no fdic insurance. Your money is safer at the banks then at your house. It is people like you that are making this sitution far worse then it is. Panic isnt going to do you any good. Hell the dollar is at it strongest it has been in years. Everyone need to chill out. It is going to be a rocky ride for a couple more months. The market will probably have another huge gain next week sometime. And have more huge loses. I think it might eventually hover around 6000-6500. That is as low as I see it going. When we see the market at a standstill. When we see that nobody is buying these stocks, then you might start to panic. But you have to remeber, as long as the market is moving up or down there are people buying stocks. I bet the volume today ends up being one of the highest ever.



posted on Oct, 24 2008 @ 07:36 AM
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Originally posted by Navieko
And could someone please link me to a good website so that I can observe, when it does open.


Here you go Navieko...

www.marketwatch.com...

Upper right hand corner... all markets. Hope this helps.

[edit on 24-10-2008 by 12m8keall2c]



posted on Oct, 24 2008 @ 07:37 AM
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Originally posted by Navieko
How long from now do the markets open? And could someone please link me to a good website so that I can observe, when it does open.

Cheers... and good luck! Although sadly I don't think luck can help you now.

Check out CBNC It is the best. You can also watch to see what happens to oil today. Opec just cut production by 1.5 million barrels/day and it is still down over 4$.



posted on Oct, 24 2008 @ 07:40 AM
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Is it possible that we just see the same thing we saw a week or so ago, a huge selloff as the market tries to find the bottom and then a rally and a balance out?

I am scared that today may be the day and then i can watch any chance of returning to college go up in smoke next year. But i loke to be an optomist, I mean we have seen about 15 days in the last two months that was supposed to be D-Day and the start of a global depression, but the market seems to always find a way to avoid it for the most part.

So I guess my question is this, what makes today any different from the other bad ones that were supposed to cause Market D-Day?



posted on Oct, 24 2008 @ 07:44 AM
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Originally posted by Navieko
How long from now do the markets open? And could someone please link me to a good website so that I can observe, when it does open.

Cheers... and good luck! Although sadly I don't think luck can help you now.


This is the site that I follow

www.bloomberg.com...



posted on Oct, 24 2008 @ 07:50 AM
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If it was me invested largely in the market I would wait for the money to be injected in from the bailout plan and as it was I would sell sell sell and take whatever i could get out of it. Which I'm sure is what is/has happened.



posted on Oct, 24 2008 @ 07:50 AM
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reply to post by tide88
 


Thats your opinion, and I can respect that. Personally, I don't trust the FDIC to "secure" my money.. These agencies have not proven themselves in my eyes thus far, so I think that my suspicions of the FDIC are valid. To blame the crisis on people "like me" is a bit extreme though, no?? I mean, I am just a member of ATS. Its not like I am on the news screaming take your money out.. If you have concerns about these sorts of comments, then maybe you should take it to a higher up then just throwing blame on members from ATS that feel a certain way.. Just my opinion



posted on Oct, 24 2008 @ 07:53 AM
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Is this going to be the same panic that we saw the week of the 7th?
We have 3 kids and really cant take any chances, we stocked up and pulled a couple of hundreds out for that week but the banks didn't fail and the markets really didn't effect us.
Is this time any different?
Will the markets rebound next week and the banks still be open for business?
I am just wondering how panicked and concerned I should be about today, if this is the real thing or we still have a couple of months (after holiday retail sales dive) on main street?



posted on Oct, 24 2008 @ 07:58 AM
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reply to post by tide88
 


That was the same figure I was thinking, the bottom being around 6000.
If this is true, I plan on dumping what little I have right back in the market at that point.

As far as FDIC, is money really safe? I'm not panicking here, just wondering if the bail out doesn't work and our banking system collapses, our economy tanks, unemployment rises and less people are paying taxes....where does the money come from? In the end, do we end up owned by the Chinese? Do we just print more money to weaken the dollar and increase inflation?

I know one guy who took his money out of the market and another that actually pulled his money out of his bank account and put it in a safe deposit box. I thought it was funny and couldn't talk them out of it. They are the old timers who have seen a lot worse than we have, so I won't fault them. My point is, I'm sure this is starting to happen all over.

So many questions, no clear answer. I'll be on yahoo finance all day watching.

I agree though, EVERYONE NEEDS TO CHILL OUT. It's ok to be scared, but please don't panic. Like KaginD, I have mouths to feed, and I'm sure we all do, one does have to worry.

Fear is motivation, Panic is defeat.



posted on Oct, 24 2008 @ 08:00 AM
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Originally posted by SEEWHATUDO
Is this going to be the same panic that we saw the week of the 7th?

Will the markets rebound next week and the banks still be open for business?
I am just wondering how panicked and concerned I should be about today, if this is the real thing or we still have a couple of months (after holiday retail sales dive) on main street?


It's going to be worse.

I don't know if the markets will rebound.
The banks will most likely be open for business next week, though I will not be surprised to see a takeover/seizure or two.
This, IMO, is the beginning of the "real thing." It will be worse after the holiday retail flop.



posted on Oct, 24 2008 @ 08:10 AM
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reply to post by anachryon
 


Thanks!
My bank is already on its way out (Wachovia) so I hope Wells Fargo is up for the task.
I just ran around to all my friends and family the week of the 7th telling them the sky is falling, the sky is falling, prepare for Armageddon and nothing immediate happened to them so I dont want to be a chicken little again today.
If I continue doing that when the sky actually is about to fall they will laugh at me and not heed the warning.



posted on Oct, 24 2008 @ 08:13 AM
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reply to post by SEEWHATUDO
 


My paycheck is drawn on Wachovia. I get paid next Friday. I am a little worried.

I know what you mean about trying to warn people. I have tried and tried. 2 of them have decided I am paranoid and it may border on needing to see a shrink, so this time I am going to let it go and whatever will be will be.


JSR

posted on Oct, 24 2008 @ 08:18 AM
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im going to go ahead and make my prediction.

* pulling numbers from rear-end *..........i say the bottom today will be 8000. may dip below that. but i say it will stay above 8000. that would be roughly 9%. [edit 8% actually]

now......we wait.

------------------edit to add------------------

oct 24
asia down 7%-8% / futures down 4%-9%
europe currently down 7%-8% / futures down 8%-9%



[edit on 24-10-2008 by JSR]



posted on Oct, 24 2008 @ 08:23 AM
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PNC Bank just bought National City Bank.

See what I mean about banks being shuffled around?



posted on Oct, 24 2008 @ 08:24 AM
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Folks breaking news here.

Premarket trading has been halted due to a massive decline. No reports at length yet, but initial news coming out of the NYSE is that premarket trading has been halted.

In 6 minutes, armageddon is going to occur on the DOW.

Edit: So it seems like the 550 point drop WAS the limit...

abcnews.go.com...



[edit on 24-10-2008 by 44soulslayer]



posted on Oct, 24 2008 @ 08:36 AM
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reply to post by ghostlandseller
 


Yes!!!!!!!!!!!!!!I just saw the markets open in the US!!!!!!!!!!!!!!!!

Black friday!!!!!!!!!! the markets are ready to stop to the trading at least at two different times today and if it falls over 1000 before closing the markets will close!!!!!!!!!!!!!!!!!

braking news people

Big news!!!!!!!!!!



posted on Oct, 24 2008 @ 08:38 AM
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Originally posted by 44soulslayer
Folks breaking news here.

Premarket trading has been halted due to a massive decline. No reports at length yet, but initial news coming out of the NYSE is that premarket trading has been halted.

In 6 minutes, armageddon is going to occur on the DOW.

Edit: So it seems like the 550 point drop WAS the limit...

abcnews.go.com...



[edit on 24-10-2008 by 44soulslayer]


The Dow futures 550-down is a contractual agreement that was already imposed prior to today.


JSR

posted on Oct, 24 2008 @ 08:39 AM
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Originally posted by marg6043
Yes!!!!!!!!!!!!!!I just saw the markets open in the US!!!!!!!!!!!!!!!!



that's just morbid.....



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