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Subject: Dow drops like a stone through wet tissue paper rss

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Ken
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Makes you feel so much better for allocating up to $700 billion plus $100 billion in ornaments, no?

That said, I wouldn't expect the bailout to have far-reaching positive effects for weeks. They actually have to start writing some checks. The current market plunge looks more related to financial institutions in Europe than the bailout.
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Bela's dead and Vampira won't talk
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Marketwatch wrote:

European shares post biggest one-day percentage loss ever
By Sarah Turner
Last update: 11:39 a.m. EDT Oct. 6, 2008
Comments: 2
LONDON (MarketWatch) -- The pan-European Dow Jones Stoxx 600 index posted its biggest one-day percentage loss ever on Monday, according to preliminary data. The index fell 7.6% to 241.57, overtaking the 6.21% fall recorded on Sep. 11 2001. Banks and miners fell as a fragmented policy response from European countries reinforced fears about a possible global economic recession. The U.K. FTSE 100 index closed down 7.3% at 4,617.24, the German DAX 30 index closed 7.2% lower at 5,378.62 and the French CAC-40 closed down 7.4% at 3,775.06. End of Story


European markets have been down much more than ours on their worst downturn ever. We aren't insulated from that.

The New York Times wrote:
“People are really disappointed by the inability of Europe to react on a concerted basis,” said Andrew Popper, a fund manager at SG Hambros in London. “It’s still very much a country by country approach. There is also a realization that we haven’t seen any effects on economic growth so far but that now is starting and that’s having an effect on non-financial shares.”


I realize this quote is just one guy, but this is the prevailing sentiment in the markets today.

Anywho, the $700 B isn't designed to prevent the significant downturn that almost everyone in finance has been expecting for (at least) weeks now. It's to prevent a potentially catastrophic collapse. People are hoping a potential mini-depression can be turned into a "mere" recession.

The situation in Europe (the first major post-Euro financial problem) underscores why the markets desire the confidence of a unified acting body, which we have but Europe doesn't.
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Bela's dead and Vampira won't talk
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In related news:

I was dreamin' when I wrote this
Forgive me if it goes astray
But when I woke up this mornin'
Coulda sworn it was judgment day
The sky was all purple
There were people runnin' everywhere
Tryin' 2 run from the destruction
U know I didn't even care
'Cuz they say two thousand zero zero party over
Oops out of time
So tonight I'm gonna party like it's 1999


Yep. The DOW is at 1999 levels. We just lost a decade. soblue
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Chief Slovenly
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le_cygne wrote:
In related news:

I was dreamin' when I wrote this
Forgive me if it goes astray
But when I woke up this mornin'
Coulda sworn it was judgment day
The sky was all purple
There were people runnin' everywhere
Tryin' 2 run from the destruction
U know I didn't even care
'Cuz they say two thousand zero zero party over
Oops out of time
So tonight I'm gonna party like it's 1999


Yep. The DOW is at 1999 levels. We just lost a decade. soblue


Everybody's got a bomb
We could all die any day
Before I let that happen
I'll dance my life away


Good old apocalyptic Cold War-era lyrics. What's old is new again!
Who would've thought that a funky Paisley Park dude with an ejaculating guitar would be such a soothsayer?
 
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Bela's dead and Vampira won't talk
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bbenston wrote:

Who would've thought that a funky Paisley Park dude with an ejaculating guitar would be such a soothsayer?


Not Mr. McGee, that's for sure.

Quote:
Good old apocalyptic Cold War-era lyrics. What's old is new again!


My new investment strategy is heavily weighted toward canned goods and ammunition. Anyone trying to unload a used Pursuit Special or Mack truck?
 
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The 10-year chart:
http://money.cnn.com/quote/chart/chart.html?ClientID=44711&s...
 
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The hope is to avoid Depression: The Sequel, specifically by preventing the run on banks and the removal of liquidity from the system.

There is no way to avoid a recession and possibly an even sharper downturn. Things will suck for a while, but the economy is cyclical -- it will come back eventually. It took the market 20 years to recover to the peak it saw in 1929, so as always, patience is a virtue.

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Drew1365 wrote:
Hey! Congress decided to pass a bailout to save the economy . . . and the economy responded ... like this![/url]


The stock market isn't the economy, of course (I'm certain you know that :-)

The stock market seems to be prone to a lot of irrationality and short-term thinking. Let's check back in several months - I bet it will be up again.


Even tomorrow - I bet we'll see a lot of bargain hunters step in and it will spike, at least temporarily.
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Drew1365 wrote:

Unfortunately all this makes me wanna do is take my money out of my rapidly decreasing retirement fund and stick it in the First Mattress Savings and Loan.


Those of us who like to buy low and sell high appreciate those of you who do the reverse.
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Matthew M
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Drew1365 wrote:
Hey! Congress decided to pass a bailout to save the economy . . . and the economy responded like this!



Correlation does not equal causation.

-MMM
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William Boykin
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Didn't you get the memo? Obama and his supporters are going to hold hands in a prayer circle in the first 100 days and cure all of our economic sins. But it won't be exclusive- ALL Obama fans, of ANY faith, will be allowed to proclaim their new belief in Audacity of HOPE!

Thats after they have the exorcism of the Ghost of the EVIL George Bush and the leftover demons of the the Republicans in Congress.

Yes, When Obama comes...We'll have Change and Progress!

When Obama comes....We'll have an end to Hate and War!

When Obama comes....!

Darilian
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William Boykin
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Your name just went the LIST, Drew...... devil

Darilian
 
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Dan Becker
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mdp4828 wrote:
Drew1365 wrote:

Unfortunately all this makes me wanna do is take my money out of my rapidly decreasing retirement fund and stick it in the First Mattress Savings and Loan.


Those of us who like to buy low and sell high appreciate those of you who do the reverse.


Unfortunately, I bought last week, thinking THAT was the low point.
 
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Matthew M
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Drew1365 wrote:
Octavian wrote:
Correlation does not equal causation.


And yet I'll bet you think Republicans are to blame simply because Scary George Bush is president.


You read me like a book. What are you doing wasting your powers of perception here when there are crimes to be solved?

-MMM
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Jesse Miller
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Octavian wrote:
Drew1365 wrote:
Octavian wrote:
Correlation does not equal causation.


And yet I'll bet you think Republicans are to blame simply because Scary George Bush is president.


You read me like a book. What are you doing wasting your powers of perception here when there are crimes to be solved?

-MMM


Committing them.
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Darilian wrote:
Didn't you get the memo? Obama and his supporters are going to hold hands in a prayer circle in the first 100 days...

Darilian

Remind me again...
which party resorts to prayer and patriotism when the $hit hits the fan???
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cull wrote:
Drew1365 wrote:
Hey! Congress decided to pass a bailout to save the economy . . . and the economy responded ... like this![/url]


The stock market isn't the economy, of course (I'm certain you know that :-)

The stock market seems to be prone to a lot of irrationality and short-term thinking. Let's check back in several months - I bet it will be up again.


Even tomorrow - I bet we'll see a lot of bargain hunters step in and it will spike, at least temporarily.


Long term investment and dollar cost averaging, that's where it's at, y'all...
 
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beckerdo wrote:
mdp4828 wrote:
Drew1365 wrote:

Unfortunately all this makes me wanna do is take my money out of my rapidly decreasing retirement fund and stick it in the First Mattress Savings and Loan.


Those of us who like to buy low and sell high appreciate those of you who do the reverse.


Unfortunately, I bought last week, thinking THAT was the low point.


yeah i usually get the cat mid bounce too.
 
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Darren M
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A cool looking stock screening site I thought I'd pass along to those who've never seen it before... at least we can view the global financial turmoil in cool looking charts and maps.

http://finviz.com/map.ashx?t=geo
http://finviz.com/map.ashx?t=etf
http://finviz.com/map3darchive.ashx



 
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Greg Michealson
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cull wrote:


I like Google's chart better. It's interactive.

http://finance.google.com/finance?q=INDEXDJX:.DJI
 
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Greg Michealson
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Take a look at the Dow during the Clinton era.

http://finance.google.com/finance?chdnp=1&chdd=1&chds=1&chdv...:.DJI&ntsp=0

Here's the Dow during the Bush era.

http://finance.google.com/finance?chdnp=1&chdd=1&chds=1&chdv...:.DJI&ntsp=0
 
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