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Dow falls below 7K

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posted on Mar, 2 2009 @ 09:56 AM
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It has been said that 7K was a specific psychological point in the dow.

Well, today we have dropped below that, now what???

7:53 Pacific Standard Time
dow down 167.26 @6895.97

Nasdaq: down 28 @1349.84

Sings," how low can you go...."




posted on Mar, 2 2009 @ 10:14 AM
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Hopefully it tanks and the American and UK people take back there countries



posted on Mar, 2 2009 @ 10:30 AM
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For complete information, please see the up to the minute market data thread



posted on Mar, 2 2009 @ 10:33 AM
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Originally posted by KonigKaos
Hopefully it tanks and the American and UK people take back there countries


That's a very very messed up way to think. Lots of people have lost their life savings, the money they worked 40-50 years for. I'm not saying having that much money in the the stock market was smart, but I can certainly find no pleasure out of the terrible loss experienced by so many good hard-working people. I am able to deduce that you don't have a pot to pee in or a window to throw it out of, never have and never will.



posted on Mar, 2 2009 @ 10:39 AM
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For some reason I've been waiting for the dow to fall below 7000. So I guess it really is a psychological thing.

I saw trouble coming many months ago and sold all my portfolio. It included some of the best. It was my life savings and I wasn't ready to play any games with it.

What worries me even more is that I have a desire to see the market fail completely.

I don't understand why I feel this way. I love my country and want it to prosper.



posted on Mar, 2 2009 @ 10:44 AM
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Yeah it did it again this morning after hearing more bad news on AIG

I still believe the worse is to come in the next 2 weeks.



posted on Mar, 2 2009 @ 10:46 AM
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reply to post by dizziedame
[What worries me even more is that I have a desire to see the market fail completely. I don't understand why I feel this way. I love my country and want it to prosper. ]

I don't see anything wrong with your wishes, it's perfectly normal. The financial system is a complete shambles, muck-ridden with corruption and fraudulent practices.

I for one am awaiting the collapse with bated breath. The system is sick and ruined and needs to change.

My only concern is those who profited greatly from this financial carnage profit from this, and not suffer the same fate as the people they ripped off.



posted on Mar, 2 2009 @ 10:55 AM
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8:54 AM PST

Dow -230.74@6832.19

Nasdaq -41.36@1336.48



Many people ask, how does this effect me????

My example is my dad had retired, but has decided to go back to work for 1-3 years, because he has lost so much of his retirement money(stocks/bond/401K......).


Hows that for a answer.


[edit on 3/2/2009 by mrmonsoon]



posted on Mar, 2 2009 @ 11:20 AM
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reply to post by Bombeni
 
Old family saying, "Don't gamble with cards, horses, dogs or the stock market with money you can't afford to loose."

As ignorant as I am I felt the the coming fiasco. If a person is smart enough to have a large retirement then he should be a good steward of that money and watch what's happening in the money world. If he smells smoke then he should have enough sense to take his money and put it somewhere safe.

I watched my money, moved it and I still have many pots and many windows to pour out of.

Thankfully the homes that hold my toilets are paid for in full and I do not have to resort to throwing my urine out of a window.

Maybe some of us feel that in order for our country to repair itself some things need to fail.

The stock market and banks seem rife with corruption. Together they have created many of the problems we are having now.

If you have an infection in your right foot and it is not responding to treatment and will spread and cause you to die you amputate that foot.

Our economy has a major infection and we must eradicate it or we will all fall down.



posted on Mar, 2 2009 @ 11:42 AM
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reply to post by Bombeni
 


I don't see anywhere in his statement that he said he was glad or happy that the economy was failing. If anything, I interpreted it as moving to the next phase of progression where the country can heal. Maybe you're the bitter one about losing some money in an illusion, and those who had their 40-50 years tied up into the markets should re-examine giving so much of their hard work to a bunch of men in fancy suits.



posted on Mar, 2 2009 @ 11:43 AM
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Originally posted by dizziedame
reply to post by Bombeni
 
Old family saying, "Don't gamble with cards, horses, dogs or the stock market with money you can't afford to loose."

As ignorant as I am I felt the the coming fiasco. If a person is smart enough to have a large retirement then he should be a good steward of that money and watch what's happening in the money world. If he smells smoke then he should have enough sense to take his money and put it somewhere safe.

I watched my money, moved it and I still have many pots and many windows to pour out of.

Thankfully the homes that hold my toilets are paid for in full and I do not have to resort to throwing my urine out of a window.

Maybe some of us feel that in order for our country to repair itself some things need to fail.

The stock market and banks seem rife with corruption. Together they have created many of the problems we are having now.

If you have an infection in your right foot and it is not responding to treatment and will spread and cause you to die you amputate that foot.

Our economy has a major infection and we must eradicate it or we will all fall down.


I see you talking out of both sides of your mouth. You just said people should not gamble with money they can't afford to lose, but in your earlier post you said your "entire portfolio" aka your "life savings" was pulled out of the market.


Well good for you, I'm happy if your life savings, you know the money people should never gamble with, was saved. Truly I am.

I just don't understand the sheer audacity of stating that you are waiting on pins and needles to see others lose theirs.

That is exactly how your posts played out, I stated my reaction to them, and I am not going to engage in a long drawn out deal that skews the facts. Have a nice day.



posted on Mar, 2 2009 @ 11:46 AM
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reply to post by American_Soviets
 


Oh my goodness, I received your very first post on your very first day at ATS.

That's exciting.



posted on Mar, 2 2009 @ 11:50 AM
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Thread Closed:

Earlier thread posted on the same topic can be found here:
Tomorrow the Dow below 7000 for the first time since April of 1997
Please join the discussion there and post your thoughts.



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