Anyone for tea?
Posted on 10/09/2008 12:59:03 PM PDT by Red Badger
The Dow Jones industrials fell under 9,000 this afternoon for the first time since the summer of 2003 as investor confidence that markets would stabilize appeared to collapse. At 3:40 p.m. ET, the blue chips were down 641 points, or 6.9%, to 8,617. The Standard & Poor's 500 Index was off 74 points, or 7.5% to 911. The Nasdaq Composite Index was down 94 points, or 5.4%, to 1,646. The S&P fell under a closely monitored support level of 960. A support level is important because it is supposed to trigger new buying. At those levels, the crash of 2008 has left the Dow 39% below its record close of 14,164.53 and the S&P 500 down 41% from its record close of 1,565.15. Ironically, both records were set exactly one year ago today.
(Excerpt) Read more at articles.moneycentral.msn.com ...
Rather than to disagree, I think your comments may actually substantiate my theory... ;-)
I doubt Soros is that clever or stupid...............
At this point I can only recall the old adage that things are never as good as the market thinks they are nor are they as bad as the market thinks they are.
I think all the yuppies are selling off because the can’t generate poodle grooming money from shakey derivatives.
This is bunker mode for the shallow class.
The limosine liberals in panic mode that they may no longer be have a limosine and may be foreced be among the unwashed “mere liberals”.
That’s not entirely true. The past couple of days have shown McCain not down as much as before. The markets don’t seem to care.
Obambi's huge CG tax increase is financial suicide for our country, but the voters are speaking.
Full speed ahead on the US Socialist Express!!!
Good rant!!!
McCain could walk into the WH if he’d just come out and tell everyone who is responsible for this mess!.................
Man O Man! I doesn't look good.
The $700B the democrats rammed through was never going to be enough. It’s only purpose was to hold things together long enough for the insiders to get out
Don’t try to catch a falling knife.
So, where is the government keeping their hands off the market this time?
You are correct. Looks like Obama will crack 300 electoral votes and possibly 350 at this rate. It is easy to say the Dems are in control, they obviously are, but the pubbies were in control when the legislation was passed in '98 and Bush failed to enforce any regulations in place. The dems can take a lot of the blame, but the republicans have to also. Regretfully, the American public just sees the face of Bush and McCain will pay fo rit (actually we will, although Obama is only marginally worse than McCain).
Where is Steve Forbes when you need him.
A three-day weekend, right? Columbus Day?
Do you notice anything that says “quotes delayed 20 min.”?
bump
I believe it is the opposite, Obama’s polls are up because the market is down.
Oboma taught ACORN, and the left uses, the Alinski Method to divide and conquer the American people. Alinski also taught how to destroy capitalism and reintroduce a socialist economy. This is what ACORN has done. This is where the flooded market came from. They collected mortgage buyers the same way they're collecting ballots - through intimidation and promises.
Yeah. This was done on purpose to take the Republicans out of the way.
The dollar is strong. Oil is going down. The credit market is showing signs of release. This was nothing but panic.
Anyone for tea?
Even if you bought a Ford for $5, you wouldn't be getting a great deal.
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