Monoline crisis jolts market's foundations

The Times ^ | 2/1/08 | Patrick Hosking: Business Commentary

[Toddsterpatriot]

Not all Dow stocks start trading at the same time, so as each one actually starts trading, the index drops more.

AFAIK, the opening price is based on the opening price of all 30 stocks, whenever they may open.

A guy saying 2247 is a buy is not saved by a delayed opening in IBM.

[coloradan]

Date open high low close

23-Jan-08 11,969.08 12,339.10 11,530.12 12,270.17
22-Jan-08 12,092.72 12,167.42 11,508.74 11,971.19
18-Jan-08 12,159.94 12,441.85 11,953.71 12,099.30
17-Jan-08 12,467.05 12,597.85 12,089.38 12,159.21

According to Yahoo, over the weekend 18- to 22- Jan 2008, the Dow only lost 7 points, closing on Friday at 12,099 and opening at 12,092. Notwithstanding that the futures market indicated a down 500-or-so open, and the index indeed went there within the first few minutes. I don’t think any trades occurred or could have occurred at 12,092.

[Toddsterpatriot]

According to Yahoo, over the weekend 18- to 22- Jan 2008, the Dow only lost 7 points, closing on Friday at 12,099 and opening at 12,092

You're right, it looks like the Dow opened at 11,600 on Jan 22, according to BigCharts.

Calling a bottom/buy at 2247 on October 19, 1987 was still a VERY BAD CALL!

[LowCountryJoe]

What worries me isn’t the state of the economy, which is shakey, but the attitude among so many people that everything is okay or happening someplace “far away.” When these abstractions hit home, then it’s gonna get ugly.

No, really! The sky is falling.

[bruinbirdman]

"how the rules are being....”adapted” with regard to capital reserves for the banks right now "

URL?

Basel II was last November, no? To be tweaked down the line. Is there a recent tweak?

"Four major US banks are reported to be deeply unhappy with new Basel II regulations and have voiced their concerns to the White House, according to reports.">

yitbos