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Breaking news, Market in free fall

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posted on Aug, 10 2011 @ 03:16 PM
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The DOW has dropped more than 500 points.

This really doesn't come as a surprise to me but the fed really messed up. and still they have a few minutes left of trading.

money.cnn.com...
edit on 10-8-2011 by hypr2011 because: (no reason given)




posted on Aug, 10 2011 @ 03:20 PM
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reply to post by hypr2011
 


I thought it was funny after the S&P downgrade on the US that the S&P fell 6.66%. That's all I needed to know Monday.



posted on Aug, 10 2011 @ 03:21 PM
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reply to post by hypr2011
 


And we go d
o
w
n

AGAIN....... What will become of us...I just do not know. This though is really no surprise.



posted on Aug, 10 2011 @ 03:21 PM
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yea, I am unsure when the TSX and Dow close at so DOW lost 519.83 points today, but we still have a bit of time before the markets close.



posted on Aug, 10 2011 @ 03:23 PM
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Not to sound totally ignorant, but this isn't a topic I know much about. Can someone explain what the market dropping means for us? What will it affect? In dummy terms please.



posted on Aug, 10 2011 @ 03:26 PM
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news.yahoo.com...

Here is a better link to the story, yahoos weird formatting prevented my yahoo link to work, but it means that companies and investors to my belief lose money.

Those who aren't into the investing game get fears of losing their jobs and question themselves if they should buy a big ticket item such as a house or car.



posted on Aug, 10 2011 @ 03:26 PM
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What caused it this time?? I was feeling like things were at least stable this week, as of this morning. The Asian markets regained sanity late last night..after opening to another hard crash, and New York seemed to be making a little recovery. At least they weren't crashing in a free fall. The chart shows this as a near drop off the cliff edge this afternoon. What admin idiot was having a speech at about the time this went off the edge?



posted on Aug, 10 2011 @ 03:28 PM
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The Chairman of the Fed Ben Bernanke (SP?) was the one who gave the speech yesterday, markets recovered for one day, then well the big 500 point drop happened close to closing for the day.



posted on Aug, 10 2011 @ 03:32 PM
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I am waiting to see what happens on friday. I think friday could possibly be the worst day this week.



posted on Aug, 10 2011 @ 03:33 PM
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reply to post by hypr2011
 


going up and down like a hearth attack.

maybe needs to have a pacer wired to the ticker.
edit on 10-8-2011 by citizen6511 because: spelling

edit on 10-8-2011 by citizen6511 because: (no reason given)



posted on Aug, 10 2011 @ 03:35 PM
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So when do I start buying up the cheap fallen stock.



posted on Aug, 10 2011 @ 03:36 PM
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Originally posted by Wrabbit2000
What caused it this time?? I was feeling like things were at least stable this week, as of this morning. The Asian markets regained sanity late last night..after opening to another hard crash, and New York seemed to be making a little recovery. At least they weren't crashing in a free fall. The chart shows this as a near drop off the cliff edge this afternoon. What admin idiot was having a speech at about the time this went off the edge?


Things were never stable since 2008. The illusion that the recession was ended was ridiculous because job creations didn't happen, debt went up, a new debt ceiling higher, debt going up even faster, credit downgrade and Dow Jones Industrial Average loosing some feathers. One way or another this had to happen, as with th end of the U.S. dollar a world currency one day or another.

I do not want to sound pessimistic but it really is what it is ladies and gentlemen



posted on Aug, 10 2011 @ 03:45 PM
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True, things weren't but we were under the impression things were, I find it was to get the market going again, but question, whats a good site to watch the Dow futures charts? I want to keep an eye on things etc etc because I think Thursday will be off to a rocky start.



posted on Aug, 10 2011 @ 03:46 PM
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I would say wait and see how the market closes this week. Yesterday the market dropped 400 points early, only to rebound by the end of the day, this is not abnormal after the last week we have had. Although today it seems like we have seen a fairly consistent drop, with very little time for rebound. Down 400 points this morning and now down 540+.... All I have to say, is I'm happy I don't have my hard earned money tied up in the stock market right now, because this $h!t is financial suicide....



posted on Aug, 10 2011 @ 03:49 PM
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Originally posted by stonebutterfly
So when do I start buying up the cheap fallen stock.


I think you should wait a lot longer, like when the new and improved world exchange 2.1 opens up in about 2 more years.



posted on Aug, 10 2011 @ 03:50 PM
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Yesterdays rally was nothing more than a textbook short covering rally, and with all the long term investors taking the opputunity to cut their losses and all the bad news, today was bound to be bad. Tomorrow could be worse, Dow is only 219 points above 10,500 and only 719 above 10,000! The best we can hope for is some good news but that might not happen...
edit on 10-8-2011 by BlackStar99 because: (no reason given)



posted on Aug, 10 2011 @ 03:52 PM
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First off, this just my opinion, so don't take it as financial advice....

I think the Dow will see 9999 before it sees 12000. I'm guessing it could drop as low as 8500 before it stabilizes. Next spring is going to be interesting. If China and other countries are successful, or even make it a strong possibility that the Dollar will be replaced with something else as a reserve currency, then hold on, because it's going to get ugly.

Yesterday was a tar baby (can I say that?). It was meant to suck the average investor back into the market, thinking there was going to be a recovery. Many people got out before last Friday, and moved their 401k's into secure funds. Yesterday was an attempt to get the suckers to put their money back into stock. A lot of people panicked and did just that, only to see it drop again today. There will be a day here, or a day there with an uptick, or maybe even a few days strung together, but ultimately this thing is heading down.

Depending on how it looks around 9000, I may start to buy again. Until then, I'm short!



posted on Aug, 10 2011 @ 03:53 PM
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A funny thing about graphs, depending on the time-scale used, it can show the same data in a different light. From the O.P's link, change the graph so that it shows 3 or 5 years instead of the default 5 days.. Now how does it look now?.



posted on Aug, 10 2011 @ 03:56 PM
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DOW is falling, but not just DOW (as significant as it is). This # is global now, a worldwide falling. I think previous years have been only an appetizer, merely a starter. Now main course is coming.




edit on 10/8/11 by AboveTheTrees because: (no reason given)



posted on Aug, 10 2011 @ 04:01 PM
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reply to post by Freelancer
 


Well, it shows we are just shy of erasing all gains for the past 12 months (DJI).. We are -4.62% down from 5 years ago (DJI) and only 2.92% up from a decade ago.

On the bright side, we are up 1152.29% since 1971..




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