Dow closes below 11k, first time in over two years

[Brooklynbomber]

I will bet anyone here any amount that the DJIA drops below 10000 within a year.

that's a pretty sharp post. Pure contrarian which normally takes the prize. And of course you mean nominally.

However, you may be overlooking the affect hyper-inflation has on the stock market....historically speaking in recent history, Germany, Turkey, Argentina, Zimbabwe, etc

I don't want to write a novel on hyper-inflation, but I think we are already in the early stages, the blowout occurs once the public loses confidence in the currency, which they've been able to control to date, but at some point the damn will break.........probably not within a year so your bet maybe safe, but it is only marginally +EV, maybe a 60 percenter

 

[Fishhead]

that's a pretty sharp post. Pure contrarian which normally takes the prize. And of course you mean nominally.

However, you may be overlooking the affect hyper-inflation has on the stock market....historically speaking in recent history, Germany, Turkey, Argentina, Zimbabwe, etc

I don't want to write a novel on hyper-inflation, but I think we are already in the early stages, the blowout occurs once the public loses confidence in the currency, which they've been able to control to date, but at some point the damn will break.........probably not within a year so your bet maybe safe, but it is only marginally +EV, maybe a 60 percenter

Hell, the DOW could go below 10,000 by the end of the week!!!!!

 

[CtGuy441]

by the end of the week? where do you get that from?

 

[Fishhead]

by the end of the week? where do you get that from?

Not saying it will, but why can't it?

This market is looking very bleak right now.

 

[Fishhead]

Not saying it will, but why can't it?

This market is looking very bleak right now.

OIL, to which many blame for this mess, drops over 10 bucks at one point today and the market still losses nearly 100 pts.

BLEAK

 

[Brooklynbomber]

Hell, the DOW could go below 10,000 by the end of the week!!!!!

anything is possible, I think this leg has been played out pretty much and should see some kind of good news generated, than some large short covering for a decent to nice rally short term, but 10,200 is my MT target........but honestly who really knows

 

[CHOPTALK]

A lot of soybeans replaced corn this year in Iowa because of the flood.


By the way.........I was almost banned at 2+2 today for posting this..........



What's really funny is that the so called "experts" will tell you that it will surely go up and up because of that is what it has done in the past.........SOMETHING THAT HASN'T EVEN BEEN AROUND FOR 1OO YEARS.

The market MAY NEVER reach it's all-time high again..........and I'm serious as a heart attack when I say this.

This country is one hell of a mess.............if fact, there may indeed be no UNITED STATES ten years or less from now.

Meanwhile these "experts" will continue to tell you that if one thing is certain and that is that stocks will go up over time. COMPLETE BULLCRAP!

Wish I could live to be 200 so I could laugh at these morons.

I agree. Do you have a link for that thread?
Do you ever watch Glen Beck on Headline News?
He is about the only national voice talking about this.

 

[Fishhead]

I agree. Do you have a link for that thread?
Do you ever watch Glen Beck on Headline News?
He is about the only national voice talking about this.

It's in their financial forum........the thread is locked.

 

[CHOPTALK]

I think they deleted it. I found your other thread thou.
Had no idea you post there. Over 1000 post.
I go there almost everyday and never noticed.

 

[Fishhead]

I think they deleted it. I found your other thread thou.
Had no idea you post there. Over 1000 post.
I go there almost everyday and never noticed.

t

I just like to rattle a few feathers over there more than anything.

 

[Seymour]

I will bet anyone here any amount that the DJIA drops below 10000 within a year.

I'll take that for a nickel - let me know if we're on or you want to do less - I think the market has really sold off about as much as it can.

 

[Fishhead]

I'll take that for a nickel - let me know if we're on or you want to do less - I think the market has really sold off about as much as it can.

Be careful, as stated earlier, it may drop to those levels........BY WEEKS END!

Futures pointing to a lower opening this morning.

If oil hits 160+.....forget about it, 9000 could be attainable.

Having said all that, consumers continue to spend.......just not on big ticket items like cars and homes(which is smart).

 

[Fishhead]

The DOW getting a push on the breaking news just out that there is a 3.2 million barrel surplus of crude.

Crude down 4.99 and meanwhile the DOW is up 120 and climbing.

Seen this scenario many times over the last few weeks, and that is the DOW surging early only to taper off late in the session.

We need CRUDE to hit 130 or lower and the DOW to have a 200+ point day...........probably not going to come close on either by the close of the trading day.

 

[chipman58]

If the DOW has a good day today it will more than likely be wiped out tommorrow seems thats the way its been going lately when weve been lucky enough to have a good day

 

[Fishhead]

If the DOW has a good day today it will more than likely be wiped out tommorrow seems thats the way its been going lately when weve been lucky enough to have a good day

SAD, BUT TRUE

 

[chipman58]

SAD, BUT TRUE

Thank goodness for the good days I quess.

 

[Seymour]

Helmut, are we on?

 

[royalfan]

Some of you are being a touch overdramatic I would say.

 

[tiznow]

get your rally caps on bear market shake a coming

before we plunge to sub 10000

gotta give the bulls/bagholders hope all the way down

 

[kidslick]

Still a long way from the bottom. Paulson and Bernanke are finally beginning to get it. It's not about the oil prices, the economy is directly linked to the availability of money and credit which is disappearing as the housing foreclosures continue and the prices plummet. Without the availability of dollars and the reduction in the job market, the consumer cannot spend. The emergency attempts to rescue Fannie Mae and Freddie Mac are clear attempts to try and stabilize the financial crisis. Indymac was taken over by Federal Regulators and more banks will soon follow.

Good stuff OMT