7000 and below

For those people who thought 7000 would be as low as she goes... i don't see tomorows initial reaction to todays close being very good. When i checked the DJIA this morning i thought things looks promisingly stable... but as is now apparent things are bad and getting worse. I am glad, however, that the auto industries plan was rejected. the market, on the other hand, doesn't seem so happy.

Not like its big news, but the econemy seems to have fallen off the radar.

if it goes below 6000 they will close the market for a few days

DJI has always been a horrible indicator of the general market but... -444.99 to close at 7,552.29 tells us those bargain hunter turned off their auto buys... see the computers they use have this feature where if a stock drops to a (low$) it automatically sends in a buy order we saw a lot of that last week whenever the bottom hit 8,200 there would be a sudden rally...

but if you really want the broader picture...
The FTSE 100 Index is a capitalization-weighted index of the 100 most highly capitalized companies traded on the London Stock Exchange.
-130.69
The Nikkei-225 Stock Average is a price-weighted average of 225 top-rated Japanese companies listed in the First Section of the Tokyo Stock Exchange
-570.18
Standard and Poor's 500 Index is a capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.
-54.14 ...(I know that's not a big number but for them its really bad too)

Lastly we have The S&P/ASX 200 measures the performance of the 200 largest index-eligible stocks listed on the ASX by float-adjusted market capitalization. Representative, liquid and tradable, it is widely considered Australia's preeminent benchmark index.
-146.7

I did not include the DAX there were down today too -133.89 but they have been down everyday lately....

It's bad, but I think that all of those who can be scared from the market have left. Those who know what they are doing and hope for a big upswing over the next 3 to 5 years will remain. At this point, only financial destruction of the US would get the DOW under 6000 IMO.

Then again, Silence, maybe that is their plan...

As a native Detroiter and one who makes the bulk of my income contracting for the Big Three, these are trying times indeed. Thankfully, there's friends, family, and this great new ATS book!

reply to post by ItsTheQuestion

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Yeah, the way Paulson has been trying to "fix" the crisis, I've started to wonder that myself.

Wasn't Lindsay Graham, I think his name is, the one who made that prediction?

The one, that as soon as oil goes UNDER $50/barrel, bad stuff happens?

EDIT for typo

[edit on 20-11-2008 by LostNemesis]

I keep seeing the FTSE100 and others being stated as indicators of the economies but I can't help but wonder how the bottom 100 or more are performing? Does anyone know of an index that tracks the low-end or mid-range of the markets?

Smart people know that Nemesis/Nibiru are coming, therefore the NWO must be created now. So, to avoid the Neutron bombs and chemical/biological warfare, these intellectuals are building underground shelters, buying up all the precious metals, and hunkering down. If you were wise, you'd do the same.

Yeah, I've batten down the hatches a bit. But still leaving myself able to keep buying. When things do turn around should make out pretty good. Got twelve years before I retire or sooner if the world ends in 2012. Just a matter of waiting.




reply to post by Silenceisall

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There really isn't one...
the rules state to be listed on the exchange your stock has to trade at or above $1.to USD or risk being removed altogether...

as an interesting side note Fannie Mae (FNM) was warned just a couple of days ago their stock is at risk of being suspended Last Trade: 0.33 Change: -0.05 (13.16%) 52 weeks ago they traded at 40.45 that in and of itself should tell you generally how bad it is....