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Dow Now Down Over 220 As Europe Explodes (now down over 500)
The Business Insider ^ | 5-6-2010 | Gregory White

Posted on 05/06/2010 11:22:26 AM PDT by blam

Dow Now Down Over 220 As Europe Explodes

Gregory White
May. 6, 2010, 2:09 PM

The Dow is down 2.0% on worries over the European sovereign debt crises as investors move into less risky assets. Gold is up to nearly 1200.

Volatility on the S&P 500 is up as well, over 13.09%:

The center of all this, the euro, down against the dollar over 1.1%:

[snip]

(Excerpt) Read more at businessinsider.com ...


TOPICS: Breaking News; News/Current Events
KEYWORDS: bho44; bhodjia; bhoeconomy; contagion; debt; djia; dow; economy; globaleconomy; obama
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To: Lets Be Frank

-—”Someone on Fox just explained the stopping point is 10%..which in this case would be around 1100 I think they said.”-—

Reminds me of an old Eagles song.

“Take It To The Limit”

All alone at the end of the of the evening
And the bright lights have faded to blue
I was thinking ‘bout a woman who might have
Loved me and I never knew
You know I’ve always been a dreamer
(spent my life running ‘round)
And it’s so hard to change
(Can’t seem to settle down)
But the dreams I’ve seen lately
Keep on turning out and burning out
And turning out the same

So put me on a highway
And show me a sign
And take it to the limit one more time

You can spend all your time making money
You can spend all your love making time
If it all fell to pieces tomorrow
Would you still be mine?

And when you’re looking for your freedom
(Nobody seems to care)
And you can’t find the door
(Can’t find it anywhere)
When there’s nothing to believe in
Still you’re coming back, you’re running back
You’re coming back for more

So put me on a highway
And show me a sign
And take it to the limit one more time

Take it to the limit
Take it to the limit
Take it to the limit one more time


151 posted on 05/06/2010 12:06:16 PM PDT by EternalVigilance (We are the media.)
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To: blam
And yet, the buying opportunites today will make some people very rich. They'll buy low and unload when the price goes up...The sharks smell blood.

sw

152 posted on 05/06/2010 12:07:05 PM PDT by spectre (Spectre's wife)
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To: MNJohnnie

Short term corp. bonds have outperformed the market for a decade.
I’ve been 80/20 the whole time. Been up every year even with the 20 dragging on it a few times.


153 posted on 05/06/2010 12:07:13 PM PDT by UnbelievingScumOnTheOtherSide (NEW TAG ====> **REPEAL OR REBEL!** -- Islam Delenda Est! -- Rumble thee forth)
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To: blam
The market says "Just kidding!"


154 posted on 05/06/2010 12:07:57 PM PDT by crusty old prospector
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To: blam; All
HUSSEIN HAD A CHANCE TO WORK WITH EUROPE...AND HE SNUBBED THEM!

EU SUMMIT SCRAPPED AFTER OBAMA SNUB

Some of the turmoil in our markets and in Europe, perhaps even the deaths of those people in Greece can be laid at the feet of Hussein, who refused to meet with the continent's leaders.

He is the WORST president EVER.

155 posted on 05/06/2010 12:08:01 PM PDT by Recovering_Democrat
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To: blam

That’s what I thought ...after 2:30 there is no halt to trading.


156 posted on 05/06/2010 12:08:14 PM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
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To: EternalVigilance

How frightening—that was my HS graduation song...LOL.


157 posted on 05/06/2010 12:08:46 PM PDT by OCCASparky (Obama--Playing a West Wing fantasy in a '24' world.)
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To: EBH

Gov. PPT buying in with your money.


158 posted on 05/06/2010 12:09:25 PM PDT by screaminsunshine (S)
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To: Recovering_Democrat

MARKET VIOLENCE!

Dow Plunges Over 900 But Then Pares Losses...

http://drudgereport.com/


159 posted on 05/06/2010 12:10:04 PM PDT by kcvl
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To: kcvl

Thanks.
That’s what I was trying to use and it was giving me a time out error. Seems to work now.


160 posted on 05/06/2010 12:10:34 PM PDT by Gvl_M3
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To: spectre

Please. The government is buying in to stop the plunge. They have to get the S&P up. It is all a scam.


161 posted on 05/06/2010 12:10:45 PM PDT by screaminsunshine (S)
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To: blam

Bear market over? ;-)


162 posted on 05/06/2010 12:10:51 PM PDT by UnbelievingScumOnTheOtherSide (NEW TAG ====> **REPEAL OR REBEL!** -- Islam Delenda Est! -- Rumble thee forth)
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To: kcvl

PPT


163 posted on 05/06/2010 12:11:08 PM PDT by screaminsunshine (S)
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To: EBH

The Dow plunged Thursday amid buzz in the market that European banks have halted lending.

One trader, on the condition of anonymity, said he heard fixed income desks in Europe shut down early because there was no liquidity — basically European banks are halting lending right now.

“This is similar to what took place pre-Lehman Brothers,” the trader said.

http://www.cnbc.com/id/36988229


164 posted on 05/06/2010 12:11:23 PM PDT by kcvl
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To: screaminsunshine
I saw -988 for a minute there. Scary.

Just watched a live clip on the Wall Street Journal website - the commentators alluded to a sudden and sharp spike in the inter-bank lending rates overnight, indicating that the people in the know see excrement hitting the air movers soon.

165 posted on 05/06/2010 12:11:35 PM PDT by TonyInOhio ( Live free or die: Death is not the worst of evils.)
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To: EBH

As I understand it there would be a 1 hour halt if DOW lost 10% of it’s value from the start of this quarter (about 1100 points) prior to 2:30pm.
After 2:30pm it would need to lose 20% (about 2200) to cause a halt in trading.


166 posted on 05/06/2010 12:12:02 PM PDT by Dave346
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To: screaminsunshine

: Selling recently went from frantic to panic as the Dow actually dropped more than 500 points in just five minutes. That gap down put the Dow down more than 1,000 points to a two-month low and beneath its 200-day moving average. However, stocks quickly snapped back as computer trades clicked to buy to drive the Dow back up some 400 points in a matter of minutes

http://finance.yahoo.com/marketupdate/overview?u


167 posted on 05/06/2010 12:12:19 PM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
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To: All

almost all intrady trade is currently computers vs computers .. very little human involvement now.


168 posted on 05/06/2010 12:12:50 PM PDT by Cage Rattler
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To: kcvl

I am not saying it will, but it actually would not surprise me if they brought the market green by the end of the day(Well that might look too suspicious). The powers to be knew that dip was coming. They were probably involved in it, and I bet they were positioned to make a crapload of money from it.


169 posted on 05/06/2010 12:12:52 PM PDT by Revel
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To: TonyInOhio

Right. They will hem and haw but massive government money was injected.


170 posted on 05/06/2010 12:12:55 PM PDT by screaminsunshine (S)
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To: screaminsunshine

The market “may have a little bit more room on the upside,” Starker said, but even if Friday’s jobs report beats expectations, “every rally seems fadable right now,” he said.

Financials, consumer discretionary and industrials were the biggest declining sectors.


171 posted on 05/06/2010 12:12:55 PM PDT by kcvl
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To: rwfromkansas

Rush said that after 2:30PM, trading cannot be suspended.

Automatic “buy orders” kicked in and that’s why the recovery started so quickly.


172 posted on 05/06/2010 12:13:15 PM PDT by onyx (Sarah/Michele 2012)
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To: screaminsunshine

It’ll probably go again at 3:30


173 posted on 05/06/2010 12:13:15 PM PDT by UnbelievingScumOnTheOtherSide (NEW TAG ====> **REPEAL OR REBEL!** -- Islam Delenda Est! -- Rumble thee forth)
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To: blam

What a ride! Was almost down 1,000, now down maybe 380.


174 posted on 05/06/2010 12:13:24 PM PDT by Genoa (Luke 12:2)
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To: All

all stops been hit in doll/yen


175 posted on 05/06/2010 12:13:58 PM PDT by Cage Rattler
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To: kcvl

Thanks, kcvl.

I stay with gold.


176 posted on 05/06/2010 12:14:04 PM PDT by onyx (Sarah/Michele 2012)
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To: kcvl

Until goverment injected money to stop the plunge.


177 posted on 05/06/2010 12:14:16 PM PDT by screaminsunshine (S)
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To: kcvl

Something strange happened all in about 15 minutes. It looks like possibly one or more market maker firms didn’t do their jobs properly and withdrew their bids completely in some stocks while other firms dropped their bids down way low, which caused some trades to execute at extremely low prices for a few minutes. That knocked the DJIA down by 800 or more points (approximately) for a few minutes. This needs to be investigated by the SEC for sure. I’m not sure what happened, but one possibility is a breakdown in the functioning of market maker firms.


178 posted on 05/06/2010 12:14:17 PM PDT by your local physicist (Don't blame me. I wasn't fooled by anyone. I crossed my fingers and voted for McCain.)
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To: Dave346

Thanks...all kinda frightening...


179 posted on 05/06/2010 12:14:30 PM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
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To: blam

So it would take a 2100 point drop to stop after 2:30pm this quarter.


180 posted on 05/06/2010 12:14:44 PM PDT by Dave346
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To: UnbelievingScumOnTheOtherSide

10,466.74
-401.38 (-3.69%)
Real-time: 3:14PM EDT


181 posted on 05/06/2010 12:15:14 PM PDT by kcvl
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To: UnbelievingScumOnTheOtherSide

Naw they were caught by surprise. The government team is ready with as much as needed to stop the plunge.


182 posted on 05/06/2010 12:15:19 PM PDT by screaminsunshine (S)
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To: screaminsunshine

Scam it is. The feds using my tax money to buy stock. I didn’t authorize that. Who do they think they are?


183 posted on 05/06/2010 12:15:21 PM PDT by Evil Slayer (Onward, Christian soldiers, marching as to war)
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To: TonyInOhio

It was -996 at the bounce.


184 posted on 05/06/2010 12:15:48 PM PDT by UnbelievingScumOnTheOtherSide (NEW TAG ====> **REPEAL OR REBEL!** -- Islam Delenda Est! -- Rumble thee forth)
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To: EBH

yeah, this is not good at all. There was a breakdown in the trading system for about fifteen minutes on top of a big selloff for the day.


185 posted on 05/06/2010 12:16:05 PM PDT by your local physicist (Don't blame me. I wasn't fooled by anyone. I crossed my fingers and voted for McCain.)
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To: screaminsunshine
Prove it.

When you can...get back to me.

186 posted on 05/06/2010 12:16:14 PM PDT by Osage Orange (Si vis pacem, para bellum)
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To: your local physicist

>>a breakdown in the functioning of market maker firms.

And another huge scam netted billions for the perps of this “glitch”.

Yup, call me cynical, but I just think we saw some people get rich enough to buy their own countries.


187 posted on 05/06/2010 12:16:21 PM PDT by swarthyguy (KIDS! Deficit, Debt,Taxes!Pfft Lookit the bright side of our legacy -Ummrika is almost SmokFrei!)
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To: Dave346

Yikes heading down again -400


188 posted on 05/06/2010 12:16:30 PM PDT by mware (F-R-E-E, that spells free, Free Republic.com baby.)
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To: Evil Slayer

PPT look it up. Obama can not afford a market crash yet.


189 posted on 05/06/2010 12:16:30 PM PDT by screaminsunshine (S)
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To: blam

Is it time to panic?


190 posted on 05/06/2010 12:16:42 PM PDT by ilovesarah2012
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To: Sarah Barracuda

Gold, silver, precious metals.

Silver coins, smaller bars of silver you can have in your possession.


191 posted on 05/06/2010 12:16:42 PM PDT by onyx (Sarah/Michele 2012)
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To: your local physicist

The action was not the result of any particular news item, but rather a breakdown of technical levels and a wave of broad-based selling.

The whipsaw trade has caused a surge in volatility, such that the Volatility Index is currently up more than 60%. DJ30 -518.29 NASDAQ -103.09 SP500 -50.09 NASDAQ Adv/Vol/Dec 436/3.36 bln/2331 NYSE Adv/Vol/Dec 142/1.62 bln/3021

http://finance.yahoo.com/marketupdate/overview?u


192 posted on 05/06/2010 12:16:44 PM PDT by EBH (Our First Right...."it is the Right of the People to alter or to abolish it,")
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To: Osage Orange

Is your head nice and cool down there in the sand? We are transforming from free to public markets.


193 posted on 05/06/2010 12:17:52 PM PDT by screaminsunshine (S)
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To: Evil Slayer
The feds using my tax money to buy stock.

The Working Group on Markets (aka the Plunge Protection Team, or "PPT") was created by President Ronald Reagan by executive order after the Panic of 1987. Its role is to use Treasury and Federal Reserve funds to prop up the markets in the event of a panic.

It's all very legal.

194 posted on 05/06/2010 12:18:36 PM PDT by Publius (Unless the Constitution is followed, it is simply a piece of paper.)
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To: your local physicist

A trading forum said that Fidelity couldn’t process trades during the dive due to overload.


195 posted on 05/06/2010 12:20:25 PM PDT by TSgt (We will always be prepared, so we may always be free. - Ronald Reagan)
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To: blam

CNBC AND FOX JUST NOW WONDERING IF THE IS SOME KIND OF CYBER ATTACK!!!


196 posted on 05/06/2010 12:20:39 PM PDT by Dr. Eckleburg ("I don't think they want my respect; I think they want my submission." - Flemming Rose)
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To: rwfromkansas

Programmed trading.


197 posted on 05/06/2010 12:21:01 PM PDT by Pelham (Obamacare, the new Final Solution.)
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To: your local physicist

It could just be that so many people were executing trades that the calculations fell behind real time. This sort of thing happens when panic sets in.


198 posted on 05/06/2010 12:21:52 PM PDT by Dave346
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To: Dr. Eckleburg

Yeah, that’s the ticket...Barry will blame it on a Tea Party Cyber Attack.


199 posted on 05/06/2010 12:23:10 PM PDT by Evil Slayer (Onward, Christian soldiers, marching as to war)
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To: screaminsunshine
We have unsustainable of debt in this country and I can't predict what the market will do.

OTOH, this isn't your Grandparents stock market, where high yields (dividends) and growth mean much anymore.

OurWall Street is being played like a Casino and NOT by your joe six pack.

I'm still in..

200 posted on 05/06/2010 12:23:16 PM PDT by spectre (Spectre's wife)
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