Dow watch 10.16.8

DowJones 8299.00 -279.00 -3.36% 19:00:39
S&P 500 880.14 -27.70 -3.15% 18:58:38
Nasdaq 1586.74 -41.59 -2.62% 19:00:38

Are we ending under 8000 today? Call it.

The midwest business day is now starting.

DowJones 8239.00 -339.00 -4.11% 19:01:52
S&P 500 874.31 -33.53 -3.84% 19:01:08
Nasdaq 1581.99 -46.34 -2.93% 19:01:38

8000 was the "bottom" last time. If we break 8k...

I believe we should hit under 8000, it's only 268 points away.

Shit, man, do you guys realize we haven't even seen a panic sell off yet? These weeks there has just been a steady, relatively gradual decline of people trying to make smart market choices with their money. At some point if it keeps going down people are going to lose it, and there will be a panic sell-off as baby boomers try to salvage what is left of their retirements.

This is scary.

Do you think we should drink some Koolaid
Do you think we should drink some Koolaid
Do you think we should drink some Koolaid
Do you think we should drink some Koolaid

-373

DowJones 8206.00 -372.00 -4.53% 19:12:15
S&P 500 876.57 -31.27 -3.57% 19:07:38
Nasdaq 1570.16 -58.17 -3.70% 19:12:09

Part of the reason is there's no way for most people to panic. The best most people can do is either not invest as much of their money in next year, or switch their 401k to "safer" investments, out of stocks and into MM/Treasury funds. And most of that happens now to the end of the year.

I'm seeing it, people that know my interest in this stuff are asking me what to do, and I'm at a loss for even casual advice. Funds get killed in this kind of market, too much trading to "preserve wealth", so you end up losing money...and still paying taxes on whatever you "made" as your money went into the toilet.

I see a revival of the traditional pension fund, should this keep going...lol

Uncle Ben has a special Koolaid for babyboomers
Uncle Ben has a special Koolaid for babyboomers
Uncle Ben has a special Koolaid for babyboomers
Uncle Ben has a special Koolaid for babyboomers

It's fighting to stay above 8200.

Most of those baby boomers are out of the market already. And no panic selling ... you got to be kidding! You think it's normal to lose 7 or 8% on a daily basis?

:ana3: :ana3: :ana3: :ana3:

AEX 245.35 -17.65 -7.19% 19:16:04

DAX 4547.32 -314.31 -6.91% 19:16:37

CAC40 3127.53 -253.54 -8.11% 19:15:54

FTSE-100 3814.66 -264.93 -6.95% 19:16:31

DowJones 8249.00 -329.00 -3.99% 19:16:37

S&P 500 866.67 -41.17 -4.75% 19:14:23

Nasdaq 1569.85 -58.48 -3.73% 19:16:29

EU markets are about -7% and 15 minutes to closing

Just kind of hovering. The last hour or so should be very interesting.

you sure they close on the half hour?

"It was a great fight ma...but I lost!"

Yup, DAX at least closes at 17:35 - weird time, I know. :)

what about the FTSE?

Call In The Reserves!

Euro markets are such a fucking roller coaster its annoying

they to stop at 16.35 (Their time)

Good points. Even so, eventually people might decide they want to take the hit on their 401k in order to get out with something at all.





No, most of the money in the NYSE and NASDAQ comes fom baby boomer 401ks. They are very much still IN the market. Although the 401k owners would take a big hit, most of this money CAN be pulled out of the stock market in one way or another.

7% or 8% is just a bad day at the markets, panic selling is like what happened in 1987: 22% loss in one day. I would say anything over 10% is when you start talking about panic selling; 5,6,7,8% is just the kind of days you are going to have sometimes in a bear market.

My 2p.

The global financial system is going to completely fail and all currencies will be destroyed. Stiglitz warned off this years ago, because he is in the know. Anyway, if I were you I would start buying shit that has lasting value.

I agree, we will hit well under 8000, mid 7000 perhaps

They will hold it above 8,000 for today, then a small rally tomorrow before dropping below 8,000 just before close of trade Friday.

down -300

I agree on the 8k floor for the DOW,

If that is busted, and the support for 8k falls apart, it is my humble opinion the DOW may take a free fall to 7,200. Maybe 6,700 if it gets bad enough.