Major stock market indexes fall to 1997 levels/Dow at -250 (7114)

NEW YORK – The major market indexes have staggered to their lowest levels in a decade, pulled lower by investors rapidly waning confidence. The Standard & Poor's 500 index fell to April 1997 levels Monday, while the Dow Jones industrial average, down about 215 points, reached its levels of October 1997 as investors succumbed to their growing worries about a recession that has no end in sight. "People left and right are throwing in the towel," said Keith Springer, president of Capital Financial Advisory Services.

news.yahoo.com...


It just keeps getting lower and lower. How many of you are still have stocks in and are you worried that it will get far lower?

I do not have any stocks in...including no 401k.

Do stock brokers know something that we don't or do they know what we know and are caving in as a result of it or does this have nothing to do with that at all?


[edit on 23-2-2009 by David9176]

reply to post by David9176


They know...they're hoping against hope something can be salvaged, but, in the end they know....

It's DOW 5000 for sure!

I want to go on the record been saying it for months! That would be a little closer to a proper valuation. Shorts must be having fun...

reply to post by Hx3_1963

They know...they're hoping against hope something can be salvaged, but, in the end they know....

That's what I'm afraid of.

It was nice to see Hilary Clinton go to China and convince them to keep buying our treasuries. Is this why gold went down?

Or am I wrong in the assessment?

reply to post by David9176


She must be taking her turn as Cheerleader for the PPT...
I'm not sure about Gold at the moment...gonna have to see how it opens after 6 pm est...see how Asian Markets take all this bad news today...they hold all the debt...might start gettin' itchy over there...

The reason for the downfall today is again the banks, as they are now asking for more money and that do not make the Markets feel any secure, this shows that the numbers been thrown out there are nothing but bogus when it comes at how much money this banks actually has lost.

Deceiving.

Still the Bank of America is now under scrutiny and trying to stop an ongoing investigation in allegations that they gave away bonuses prior to the TARP because they knew they were going to get the money back.

Also is rumors that Wall-street is asking the government to let Citcorp or citigroup collapse or bankrupt as they have waster enough of US tax payer money to fix something that is not fixable.

Originally posted by David9176
reply to post by Hx3_1963

 

They know...they're hoping against hope something can be salvaged, but, in the end they know....

That's what I'm afraid of.

It was nice to see Hilary Clinton go to China and convince them to keep buying our treasuries. Is this why gold went down?

Or am I wrong in the assessment?

LOL yea that Hillary , what a card.

The best is when she was quoted as saying something like, "The united states has a great financial reputation."

Are you smoking crack Hilary?

Seriously....that has got to be the most ignorant thing I've ever heard. The Chinese had to roll their eyes at that one.

New Zealand and Australia open first so that's the first reaction gauge to watch...


New Zealand
NZX 50 FF GROSS INDEX 2,518.29 -20.00 -0.79% 16:02
NZX TOP 10 INDEX 746.84 -7.68 -1.02% 16:01
NZX 15 GROSS INDEX 4,678.14 -44.95 -0.95% 16:02
NZX ALL INDEX 638.36 -5.17 -0.80% 16:02

and the verdict is in...

NZX 50 FF GROSS INDEX 2,505.20 -33.08 -1.30% 16:14
NZX TOP 10 INDEX 743.68 -10.84 -1.44% 16:12
NZX 15 GROSS INDEX 4,659.33 -63.76 -1.35% 16:14
NZX ALL INDEX 635.97 -7.56 -1.17% 16:17

New Zealand
NZX 50 FF GROSS INDEX 2,499.22 -39.06 -1.54% 16:46
NZX TOP 10 INDEX 743.13 -11.39 -1.51% 16:47
NZX 15 GROSS INDEX 4,648.04 -75.05 -1.59% 16:47
NZX ALL INDEX 635.67 -7.86 -1.22% 16:33

NZX 50 FF GROSS INDEX 2,494.32 -43.96 -1.73% 17:02
NZX TOP 10 INDEX 740.70 -13.83 -1.83% 17:01
NZX 15 GROSS INDEX 4,645.24 -77.84 -1.65% 17:02
NZX ALL INDEX 635.36 -8.17 -1.27% 16:48

sorry...done for now...just posting the lower trend for all to see...

[edit on 2/23/2009 by Hx3_1963]

reply to post by David9176


She also said: "If we go down, we go down together". I doubt if the Chinese appreciated that one much. Sounds way too familiar doesn't it? Remember this?: "Either you're with us, or you're with the terrorists".

I can tell you that when Rumsfeld said that, he turned 90% of the world against the USA in 3 god damned seconds. Smart move Rummy you crazy old bastard you!

Originally posted by Albertarocks
reply to post by David9176

 

She also said: "If we go down, we go down together"

Is there a video of this?

The bottom will be about 5000

YAY! Burn baby burn!

It's funny that people think the stock market diving is a bad thing. It's funny cause the cheaper the stocks go the better it will be in the long term. Think about people who wish they could have bought into microsoft when it was cheap? Well do you think that the market will be in the toilet forever?

It will eventually rebound and build up again and people will be able to buy into companies for a fraction of what they could previously. When people start throwing their money into the markets again and stock prices go back up people will make a killing.

Course let's look at the short term not the long term.

Originally posted by whatukno
The bottom will be about 5000

YAY! Burn baby burn!

It's funny that people think the stock market diving is a bad thing. It's funny cause the cheaper the stocks go the better it will be in the long term. Think about people who wish they could have bought into microsoft when it was cheap? Well do you think that the market will be in the toilet forever?

It will eventually rebound and build up again and people will be able to buy into companies for a fraction of what they could previously. When people start throwing their money into the markets again and stock prices go back up people will make a killing.

Course let's look at the short term not the long term.

Sorry but it's not that simple. If it were that simple we wouldn't be in this mess. The markets will need major restructuring to regain consumer confidence, I also think we should eliminate the short and carefully think about margins. jmo

Originally posted by Doomsday 2029

Originally posted by Albertarocks
reply to post by David9176

 

She also said: "If we go down, we go down together"

Is there a video of this?

I did see here say it in a news clip but I'm sorry I didn't record it. I'm sure it's on Google somewhere. In the meantime, here's a link to a print version.

www.google.com...

its a great time to buy i am sorry

i follow the stock market when it hit 14000 it will agian go up

real estate and stocks are a steal right now-thing is yes it will slide down even more but it will go up it always goes up.

timing and patience...........


altho for it to go up obama needs to be gone that is a fact. when in his own words dont pay attention to the daily "gyrations" of the stock market


i dont get why he hates the rich so much hes rich private plane etc.


i started following gold in 2006 when it was $500 and ounce 2 times since then its hit the $1000 mark.

if your scared about losing money invest in gold it will always have value unlike stock cause i am telling you this gold will never pull a citibank. less than a buck a share