The Dow closes today at 11,383.68 with a drop of -512.76 points

reply to post by StalkingGoogle


And Seriously do you have to call someone delusional just cause they have a different view ?

reply to post by Romanian


Wasn't there breaker points installed in 2008? the Tech behind it kicks in and gives them 15 min to catch there breath/jump outta a window

reply to post by TreX-UK


lol did not know about the break. This just proofs smoking is bad ! after the cigarette-break they started to panic-sell !

Its going to be a bumpy ride. Look for another 2000 point drop. If you have the balls now is the time to get in . Money is made and lost in times like these.

reply to post by Romanian


hmmm well Link Says that it only comes on at 10% so couldn't of been a Breaker stop

it could be just a routine break as you firstly mentioned. Just interesting how the volume of the trade increased after this break, like it caused some form of panic !

Just as a side note if your 401k is taking a punch in the face right now (like mine is) id make sure your portfolio is diversified and you have a decent amount invested into bonds to soften the blow.

reply to post by TreX-UK


Yup. The SEC set 'circut breakers' at certain points as a halting mechanism when the market liquidity drops too fast.

The circuit breakers provide for market-wide trading halts during a severe market decline as measured by a single day decrease in the Dow Jones Industrial Average (DJIA). There are three circuit breaker thresholds—10%, 20%, and 30%—set by the markets at point levels that are calculated at the beginning of each quarter. The formulas for these thresholds are set forth in the New York Stock Exchange (NYSE) Rule 80B.

For example, for the fourth quarter of 2010, the Level One (10%) circuit breaker is set at 1,050 points, the Level Two (20%) circuit breaker at 2,100 points, and the Level Three (30%) circuit breaker at 3,150 points.

from the SEC webpage

I'm sure there are plenty of breakers they won't care to discuss

reply to post by OuttaTime


did you even look at my link?

2nd line

reply to post by Romanian


That's a damn interesting chart Romian. But it looks to me more like a data feed error than anything else. Both price action showing no volatility and volume showing none. Good catch, though that's the type of stuff to look for. If a market hit LLD (Lock Limit Down) the chart would look like that during the lockup period. It didn't happen today, nor in the Flash Crash last year.

reply to post by TreX-UK


Oops. My bad. I musta 'PgDn' too fast

reply to post by jefwane


It could be a feed problem from Yahoo, however - the graph should have got a discontinuity if a feed problem, and also the volume of trade suddenly increased. Bit strange indeed. Bloomberg does not show the "break"..

reply to post by Romanian


Yahoo sucks. They always have weird issues like that happening.. from Bloomberg:

www.bloomberg.com...:IND

No breaks.

Apparently I can't link to the interactive graph .. so click on DOW and 1day graph on the next page.

All they did back in 2008 was kick the can down the road a bit and we are now nearing the end of the road.
The stimulus packages didn't work. There is no more money left for the government to inject into the economy unless they go and print more. QE3 anyone? If they do that they will devalue the dollar and hyperinflation will be a real possibility.

They are out of ammo. We'll see what Timmy Geithner and Bernanke try to cook up this time.

Lets see how Japan takes it...

"Chin up lad don't let'em see you wince"

reply to post by Rockpuck


The Asia markets tonight will be a good indicator about what is going to happen tomorrow in the US and Europe.
Usually when there is a big drop on a Thursday, Friday ends up for the day but this seems different. There is real fear out there and nothing is more dangerous to the markets than fear.

I've got a bunch of money in my 401k, domestic and international stocks mostly. I am going to move some of it around tomorrow morning.

Japan is going down friday, Dow will be down also. Companies are overvalued. This will go on for a long time. Look for the dollar to nosrdive soon. Gold and silver are the best bet. Stuffing your mattress with dollars that will soon be worthless makes no sense. Instead take those dollars and buy canned food, so you will have something to eat when everything goes to crap in a few months.

reply to post by Erasurehead


FEAR FEAR FEAR IS GOOD. Jokes aside, you should consider getting into the TVIX, it's an ETF of the VIX, or the "fear" index. It jumped 40% today! Could possibly go up from 32-40, like in 2010, possibly more. It jumped to 70 in 2008...

The big institutions buffer trades often holding on to stocks that they think will rebound in price. You can imagine how many brokers didn't fall for the debt ceiling threats and thought they could unload when the all clear signal was given. The sell off started in Europe, the UK FTSE sold off very steadily the entire session. Of course the FTSE ends trading in the middle of the New York session. Must be just coincidence that today is Obamas birthday?

reply to post by jondave


Japan market is open now.
Nikkei 225 down 370 (3.84%) in early trading.