Big day ahead!! dow futures will open down 535 points today!!, page 3
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ATS Members have flagged this thread 10 times


reply posted on 24-10-2008 @ 07:36 AM by tide88
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.



reply posted on 24-10-2008 @ 07:50 AM by KaginD
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


reply posted on 24-10-2008 @ 07:58 AM by BeavX
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.


reply posted on 24-10-2008 @ 08:10 AM by SEEWHATUDO
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.


reply posted on 24-10-2008 @ 08:13 AM by seejanerun
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.


reply posted on 24-10-2008 @ 08:36 AM by marg6043
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!!!!!!!!!!
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