Posted on 01/21/2008 12:28:59 PM PST by Rutles4Ever
Bleeding red across the globe.
http://online.wsj.com/mdc/public/page/mdc_international.html?mod=mdc_h_intlsctnhd
(Excerpt) Read more at online.wsj.com ...
Well good for you!
Well, with markets being unstable. If I were terrorist, I would strike now. Cause a lot of panic.
Somebody posted a chart last week. There are several stop points depending on how fast it falls and what time of day.
When he left for the first time I was waiting to hear a gunshot off-camera.
I think there are “circuit breakers”, which disable automated program trading - but there’s not an actual limit down. You just need to actually place the trades, after a large enough point swing.
As they say “don’t try to catch a falling knife”, but there are certainly all sorts of buy opportunities in someone’s future...
Weird how 47 people have picked that as a “favorite” video.
One system, which is private and subscription-only, is predicting a one hour shutdown of the markets tomorrow. Have no idea if that will happen, nor is it a good thing for anyone but insiders when it does happen.
I remember the ‘87 crash.
http://en.wikipedia.org/wiki/Black_Monday_(1987)
The market truly and completely collapsed.
500 point freefall, from 2,500. But then, it turned around and climbed right back.
What’s the market now? 12,500?
A corresponding drop now would be a one-day drop of over 2,000 points.
Ain’t gonna happen.
There’a a buying opportunity in here somewhere. Seems like everyone (pretty much literally everyone) is waiting to see what it’s going to be.
Anyone have any thoughts? Where’s the “bull market” in all this. There’s always a bull market somewhere, as Cramer says. Where or what, will it be?
The first ones to correctly identify the next big thing, are going to make a (lot) of money...
I remember the Y2K scare. Heh, there were some well-established FReepers with programming background who were telling other FReepers that because they hadn’t prepared for Y2K they’d be eating their pets during 2000.
I’m looking at fifteen years before getting the money, so I’m still putting it into small caps and emerging markets. I’m a long haul guy, so the downs aren’t bad for me now, just get more shares.
ROFL.
I confess to having some cans of SPAM stocked up, at that time. :)
But then again, this is an earthquake zone, so that’s always not a bad idea.
To everyone, even if the market collapses, it will come back. So no need to get like that guy in the youtube.
Good luck. Make some money.
Sometime around 2010.
Why not? No one thought it could fall 500 points in 1987. Also, no one knew the "mystery man" would come in and buy cargo ship loads of spoo futures, which sent the market higher.
The first ones to correctly identify the next big thing, are going to make a (lot) of money...
Actually, the first ones to buy the sucker rallies are the first ones to go broke, in the absence of a government-sponsored "mystery man".
Financial infrastructure conditions now are too dire even for a super-mystery man to make much headway against.
Bombay Sensex exchange down just a hair short of 10% in today’s session (on top of the 3000 points previously).
US Dollar has been climbing steadily now, for almost a week.
(it’s interesting, the good old dollar still seems to be - where quality flies to)
I was working in downtown San Francisco then. I remember that day very well.
I still have the Wall St Journal articles that tell how the whole financial system was very close to melting down that day.
One poster says the Bombay exchange was closed limit down when the circuit breaker was hit.
This is way overdone in Asia. Even bears don’t like to see this.
This is a meltdown in Asia tonight, no other way to characterize it. Got to think margin calls are exacerbating this, causing forced selling of securities parties would really like to keep.
India’s Sensex tumbles 11.5% in early minutes, trade halted
By V. Phani Kumar
Last update: 11:42 p.m. EST Jan. 21, 2008
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HONG KONG (MarketWatch) — India’s Sensitive Index tumbled 11.5% within the first two minutes of trading on Tuesday, forcing a trade halt for an hour. The index stumbled 2,029.05 points to 15,576.30, after slumping 7.4% in the previous session. “It doesn’t look good at all. We expected it to fall, but nobody expected this kind of correction,” said Sharmila Joshi, a trader with Prabhudas Lilladher in Mumbai.
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