Woohoo. DOW breaks 9000 - in the wrong direction

CNN | 10/9/08 | staff

[pissant]

8995. Wow, I'm impressed how well socialism has helped the markets.

[politicket]

Soros??

Actually - and you probably think I'm nuts - I'm guessing the Fed, Goldman Sachs, J.P Morgan, Morgan Stanley, and some in government.

I didn't think this until this last weekend. It's the only plausible answer that makes sense.

If we see Citigroup begin getting attacked from all sides in the market and collapse then I'll know that my suspicions are correct.

Citigroup has massive amounts of CDS contracts where they were the seller. If Citigroup goes, then what is left of our economy will go with it.

My opinions...and I hold no finacial stake in any of the above entities.

[Unlikely Hero]

sorry, we can't afford that, call up the youthinasia...

[divine_moment_of_facts]

I’m having a real hard time dealing with the pit in my stomach, the lump in my throat, the sweaty palms, and the tears in my eyes. And its not about the money.

I was thinking the same thing! Dear God.. We are just beginning to feel all the effects that will come down upon us in this collapse.. and it's not just the market is right.. I'm hoping at least half of us will survive what is coming.

[B-Chan]

Once I built a tower to the sun
brick and rivet and lime
Once I built a tower, now it’s done —
Brother, can you spare a dime?

[Lazamataz]

“Sometimes, Lucas, dead is bettah.” - Jud, in Pet Sematary.

[NVDave]

The DJIA is a poor indicator when the largest capitalization stocks are the hardest hit.

GM was slaughtered today - S&P is looking at downgrading GM’s debt and future prospects.

The SP500 is where I look for what the market is doing, because I can see a broad, statistically significant index that resists the distortions of a single stock, there’s the VIX to give me some idea of what people’s level of fear is, etc.

The VIX today peaked over 64. Unheard of.

[politicket]

Tomorrow, there’s going to be a work-out of the $400B of CDS positions from Lehman.

Yep...and there's more this month after them...

[AxelPaulsenJr]

I still don't get the FR culture of poll worship. Sometimes I think people here would believe a poll that samples 999 Democrats and 1 Republican.

Yes, but we also take into account that the poll was likely taken during the week while most Republicans were at work, or during the weekend when most Republicans were out living their life, while the dems were home smoking pot in their mother's basement, and on and on and on and on.............

[B-Chan]

And, after that... APES!

[NVDave]

You are right. The market goes down 3X as quickly as it goes up.

[GOPJ]

There’s lots of support at 8,600. If it free falls past that tomorrow then that’s the signal that we’re too late for any fixes.

Then what? Glen Beck said to buy extra food...

[Terpfen]

From what I can tell, polls are taken at face value here without regard for sample size, weight, party affiliation, span of time, methodology, or likelihood of voting. The way some people react the headlines may as well read “OBAMA 90% McCAIN 7%.”

[Travis T. OJustice]

Loader buys the beer!

[Petronski]

The bailout failed. Already.

Baloney.

[politicket]

Just think about Asia and Europe tonight. It’s the end of their week. No way are most of them going to want to hold through the weekend.

[TADSLOS]

Well, you could always put her on a starvation diet. Looks like she could adjust to it.

[divine_moment_of_facts]

I'm riding this Tsunami and hoping I won't lose it ALL

I've lost at least half of my portfolio.. I haven't sold a thing, either.. I will still get interest dividend checks whether my investments go up or down.. but I'm not going to get Anything if it goes down to Nothing. So many of us are over 50 and can't start over again.. I don't know what the Government is going to do with all of us when we are homeless!

[politicket]

Then what? Glen Beck said to buy extra food...

I agree with Glen Beck - at least a month's worth.

Also - two months cash on hand, extra supplies if you live in the country, and keep the gas in the car topped at all times.

The credit market indicators are staggering!

[RobRoy]

Being a bicycle commuter has its advantages.

[21twelve]

My son was reciting Shakespeare to me last night.

“To be or not to be, that is the question...”

I’m not sure I ever really listened to it before. It was all I could do to keep from crying. (And I’m a GUY!!??)

But, we did talk about how easy it is sometimes to just give up. But is it really the easy thing to do? Is it the right thing to do? No - we keep keeping on and hang in there. Also a bit about how you need to put your faith in Something that matters. And sometimes how you have to fight for it.