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Stock market shake-up: So what happens Monday?

Discussions about the economic and financial ramifications of hydrocarbon depletion.

Re: Stock Markets Current News part II

Unread postby Arsenal » Mon 01 Dec 2008, 09:56:20

Silver is taking a beating as well. Down $0.94 right now and falling fast. Gold is down $37.
If the American people ever allow the banks to control issuance of their currency, first by inflation and then by deflation, the banks and corporations that grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied. T Jefferson
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Re: Stock Markets Current News part II

Unread postby smallpoxgirl » Mon 01 Dec 2008, 09:59:15

So I guess we retest the lows again. 7200 this time?
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Re: Stock Markets Current News part II

Unread postby biofuel13 » Mon 01 Dec 2008, 09:59:21

Wow! Down -350 pts now!
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Re: Stock Markets Current News part II

Unread postby biofuel13 » Mon 01 Dec 2008, 10:02:53

smallpoxgirl wrote:So I guess we retest the lows again. 7200 this time?


Looking like you are right. At this point I'm just wondering how dramatic the drop will be today.

Did Wall St find out that Santa was murdered last night or something?
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Re: Stock Markets Current News part II

Unread postby Arsenal » Mon 01 Dec 2008, 10:04:05

biofuel13 wrote:Did Wall St find out that Santa was murdered last night or something?


HAHAHA.. Monitor just about got covered with coffee.
If the American people ever allow the banks to control issuance of their currency, first by inflation and then by deflation, the banks and corporations that grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied. T Jefferson
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Re: Stock Markets Current News part II

Unread postby smallpoxgirl » Mon 01 Dec 2008, 10:08:03

biofuel13 wrote:At this point I'm just wondering how dramatic the drop will be today.


Hard to say. Maybe 500? It's obviously got to rally at some point. It can't keep this up all day or we'll be down 1500 points. That doesn't seem reasonable to me.

Did Wall St find out that Santa was murdered last night or something?


That rally last week was pretty weak. It stopped Friday just a smidge outside the top of the channel we've been trading in for a couple of months. Today it either had to breakout and have a sustained rally, or fall right back in. I'm thinking everybody just got a little too peppy with the turkey euphoria last week and today is the reality hangover.
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Re: Stock Markets Current News part II

Unread postby Arsenal » Mon 01 Dec 2008, 10:09:16

Wow.. 9889.5% up!! Is this a fluke?

AGB

Principal Protected Notes Linked to Two Indices
(Public, AMEX:AGB)
+905.91 (9,889.85%)
If the American people ever allow the banks to control issuance of their currency, first by inflation and then by deflation, the banks and corporations that grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied. T Jefferson
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Re: Stock Markets Current News part II

Unread postby smallpoxgirl » Mon 01 Dec 2008, 10:15:17

Arsenal wrote:Wow.. 9889.5% up!! Is this a fluke?


The chatter on the site you linked is that somebody accidentally entered an order with the decimal off by two places, thus buying at 915 what they intended to buy at 9.15. It's a very low volume item, so the one order for 100 shares is all that's traded today. Still that's a $90000 screw up.
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Re: Stock Markets Current News part II

Unread postby biofuel13 » Mon 01 Dec 2008, 10:33:54

-400pts on the Dow and falling.
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Re: Stock Markets Current News part II

Unread postby Minvaren » Mon 01 Dec 2008, 11:29:16

"Meanwhile, a pair of downbeat economic reports did little to alleviate investors' concerns. The Institute for Supply Management, a trade group of purchasing executives, said its index of manufacturing activity fell to a 26-year low in November. At the same time, the Commerce Department said construction spending fell by a larger-than-expected amount in October."

Link is here.

Guess a "better than expected" Black Friday doesn't fix everything...
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Re: Stock Markets Current News part II

Unread postby Arsenal » Mon 01 Dec 2008, 11:31:45

I heard Black Friday was up in sales but the normal sales for Saturday and Sunday fell off a cliff. My guess is that the deals brought everyone out for a one time pop of buying and now it is back to not spending.
If the American people ever allow the banks to control issuance of their currency, first by inflation and then by deflation, the banks and corporations that grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied. T Jefferson
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Re: Stock Markets Current News part II

Unread postby smallpoxgirl » Mon 01 Dec 2008, 11:46:16

Arsenal wrote:My guess is that the deals brought everyone out for a one time pop of buying and now it is back to not spending.


Makes sense. In hard economic times, people would pay more attention to bargain shopping.
"We were standing on the edges
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What we thought would never end
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The way things were before
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Re: Stock Markets Current News part II

Unread postby Niagara » Mon 01 Dec 2008, 12:04:14

I've heard similar things.

Sales were brisk on Black Friday, but profits were negligible as retailers practically gave away merchandise to lure shoppers.

And lure they did, a la the Long Island Stampede.

Last week I predicted a green DOW every day leading up to the shopping orgy, followed by a breath-taking crash this week. Watch for it.
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Re: Stock Markets Current News part II

Unread postby biofuel13 » Mon 01 Dec 2008, 12:27:55

Whats up with all the support at 8400?


What does the afternoon hold in store? I really can't see any reason for the Dow to rally out of this hole today. On the other hand I'm not sure there is enough pressure to break much lower than a 500pt drop either.

As usual I'm sure the last hour will be lots of fun...
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Re: Stock Markets Current News part II

Unread postby biofuel13 » Mon 01 Dec 2008, 13:56:56

SPG--

I hope you are making lots of money today!!
"With man gone will there be hope for gorilla? With gorilla gone will there be hope for man?" --Ishmael by D. Quinn
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Re: Stock Markets Current News part II

Unread postby Zardoz » Mon 01 Dec 2008, 14:12:09

Is it just my imagination, or does Ben Bernanke seem to have visibly aged over the last year or so?

I'm watching him on CNBC now, and he doesn't look so good.
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Re: Stock Markets Current News part II

Unread postby smallpoxgirl » Mon 01 Dec 2008, 14:16:29

biofuel13 wrote:SPG--

I hope you are making lots of money today!!


I'm doing pretty well today. I jumped the gun and went short last Tuesday, so I ended up in a decent hole by the end of the week. I'm not quite back out yet. I could smell the bear lurking about. Should have waited for the whites of his eyes or some such I guess. Last week was an odd one though. Market didn't really behave right. Wednesday and Friday especially. Five straight days of price up volume down. Then Wednesday you had a solid red first bar and still closed up 260. People ate too much turkey and lost their senses I think.
"We were standing on the edges
Of a thousand burning bridges
Sifting through the ashes every day
What we thought would never end
Now is nothing more than a memory
The way things were before
I lost my way" - OCMS
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Re: Stock Markets Current News part II

Unread postby biofuel13 » Mon 01 Dec 2008, 14:21:07

Dow -480
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Re: Stock Markets Current News part II

Unread postby smallpoxgirl » Mon 01 Dec 2008, 14:25:00

The amazing thing is the volume today. This is not panic selling. This is straight up absence of buyers.

The record one day drop is 774. Anybody think we'll top that today?
"We were standing on the edges
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Now is nothing more than a memory
The way things were before
I lost my way" - OCMS
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Re: Stock Markets Current News part II

Unread postby biofuel13 » Mon 01 Dec 2008, 14:28:14

smallpoxgirl wrote:The record one day drop is 774. Anybody think we'll top that today?


Nope not today.

I'm amazed! Bernaaakkee just gave a speech and the market actually bounced about 60 pts. That's gotta be a first...lol
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