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black monday eh
cowdoc
Member Posts: 5,847 ✭✭✭
Kinda looks really bad on all mrkts. Dow down 615 all comds down hard last I looked........hang on it looks like[:(]
Comments
If you can't feel the music; it's only pink noise!
Then we'll see how many heads will roll on Nov. 4th. This will, in the long run, be good for the Republic. A major cleanup in Congress, Pelosi will be out of a job, better separation between gov't and Wal St., and the tide of liberalism will be stemmed.
Some days, I love being an optimist!
Right after Congress started voting, it came up to minus 400-something. Then back doen to minus 600 after the vote failed. Very, very interesting to see how this plays out. Several dems voted against this. Desparate to save their jobs, with hordes of unhappy voters back home. Pelosi is now busily twisting arms, to get enough votes to pass the bill.
Then we'll see how many heads will roll on Nov. 4th. This will, in the long run, be good for the Republic. A major cleanup in Congress, Pelosi will be out of a job, better separation between gov't and Wal St., and the tide of liberalism will be stemmed.
Some days, I love being an optimist!
I hope you're right ,but I think you and I need to clean our glasses .
If you can't feel the music; it's only pink noise!
Lots of computer programs kicking in when certain thresholds are reached!
Yes, and those same programs will kick into "buy" mode also.
We are a spoiled rotten country of weak kneed idiots.
Yes,......I am on a "rampage."[:D]
quote:Originally posted by Old-Colts
Lots of computer programs kicking in when certain thresholds are reached!Yes, and those same programs will kick into "buy" mode also.
We are a spoiled rotten country of weak kneed idiots.
Yes,......I am on a "rampage."[:D]Yep, it will look like a yoyo! [:D]
If you can't feel the music; it's only pink noise!
The day's loss knocked out approximately $1.2 trillion in market value, the first post-$1 trillion day ever, according to a drop in the Dow Jones Wilshire 5000, the broadest measure of the stock market.
The Dow Jones industrial average (INDU) lost 777.68, surpassing the 684.81 loss on Sept. 17, 2001 - the first trading day after the September 11 attacks. However the 7% decline does not rank among the top 10 percentage declines.
The Standard & Poor's 500 (SPX) index lost 8.8% and the Nasdaq composite (COMP) fell 9.1%.
Stocks tumbled ahead of the vote and the selling accelerated on fears that Congress would not be able come up with a fix for nearly frozen credit markets. The frozen markets mean banks are hoarding cash, making it difficult for businesses and individuals to get much-needed loans. (Full story)
"The stock market was definitely taken by surprise," said Drew Kanaly, chairman and CEO of Kanaly Trust Company, referring to the House vote. "If you watched the news stream over the weekend, it seemed like it was a done deal. But the money is being held hostage to the political process."
Stocks had fallen from the get-go Monday morning. In addition to expectations for the bailout, there was also news that troubled Wachovia had to sell its banking assets to Citigroup. A number of European banks also collapsed.
But the possibility that the House won't pass the bailout plan caused stock losses to accelerate.