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Opening Bell 1/22/08 Live Thread
1/22/08 | Self

Posted on 01/22/2008 5:03:46 AM PST by al baby

Global stock markets extended their shakeout into a second day Tuesday, plunging amid worries that a possible U.S. recession will cause a worldwide economic slowdown. The dramatic declines were expected to spread to Wall Street, where stock index futures were already down sharply hours before the trading day began


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To: al baby

At DNC headquarters they got the streamers, baloons and confetti ready.


21 posted on 01/22/2008 5:26:18 AM PST by AU72
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To: mware

Not far off. They dropped rates .75 this morning but the futures still look grim. Maybe down by as much as 500 points.


22 posted on 01/22/2008 5:26:48 AM PST by saganite (Lust type what you what in the “tagline” space)
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To: LiveFreeOrDie2001

You mean in addition to the 75 they just got?


23 posted on 01/22/2008 5:26:55 AM PST by SE Mom (Proud mom of an Iraq war combat vet)
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To: al baby
I don't know much about the market but,


24 posted on 01/22/2008 5:27:28 AM PST by McGruff (Fred Thompson. The last hope for conservatism.)
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To: mware

Fed rates cuts today are just like putting Bondo on a car without first cleaning out the corrosion underneath.


25 posted on 01/22/2008 5:27:32 AM PST by Notary Sojac (I suffer from BDS - Bush Disappoinment Syndrome)
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To: al baby

IMO,the downturn can hurt you ONLY if you’ve a mind to sell or trade today or in the short-term. For the long-term investor, it’s a chance to prepare for the next wave of highs - a chance to buy cheap.

I suspose both are where the term “Taking it in the shorts” comes from???


26 posted on 01/22/2008 5:27:51 AM PST by azhenfud (The fool hath said in his heart, There is no God.)
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To: saganite

well to be fair, the 75 just happened 4 minutes ago, not exactly a lot of time to have an impact


27 posted on 01/22/2008 5:28:07 AM PST by babble-on
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To: saganite

Fox & FRiends just reported that the futures look like they are correcting themselves. Still a long way to go, but better than two hours ago, that is for sure.


28 posted on 01/22/2008 5:28:27 AM PST by mware (Americans in arm chairs doing the work of the media.)
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To: al baby

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B7C98B5FC%2DE264%2D4F75%2D8C42%2D0256DEB52242%7D

Acting forcefully against economic risk and financial market meltdown, the Federal Reserve cut its overnight lending rate by 75 basis points to 3.50%, the Fed announced Tuesday. It was the first time the Fed had cut interest rates between meetings since the 9/11 attacks in 2001.

‘looks like Fed stepped in...


29 posted on 01/22/2008 5:29:14 AM PST by FreedomProtector
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To: SE Mom

Yes that is what I said, market wants ANOTHER 75 basis points.

This big downturn STILL needs to be played out.


30 posted on 01/22/2008 5:29:36 AM PST by LiveFreeOrDie2001
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To: al baby

The democRats are in charge


31 posted on 01/22/2008 5:29:54 AM PST by Kaslin (Peace is the aftermath of victory)
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To: azhenfud

The dead cat bounce will be pretty hard to time I think. I personally don’t intend to get back into the market until I’m convinced all the major financials have honest balance sheets again. Gonna be a while.


32 posted on 01/22/2008 5:30:03 AM PST by Notary Sojac (I suffer from BDS - Bush Disappoinment Syndrome)
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To: al baby

Fed just cut interest rates 75 bp and the futures losses are cut in half from their limit-down lows.

Sorry Ben, it’s too late. And you panicked. We still haven’t had the big finale of a selloff where everybody is completely sold out. You’ve given people false hope and shown that you are another Greenspan.

Here’s a prediction: by the end of the day this rate cut will have had no net effect whatsoever on the earlier losses — all major averages will be down five percent.


33 posted on 01/22/2008 5:30:15 AM PST by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: mware

DRUDGE IS SAYING THE MARKET COULD OPEN 500 DOWN OFF THE BAT THIS WOULD NOT BE GOOD AT ALL VERY VERY BAD


34 posted on 01/22/2008 5:30:38 AM PST by MATSEVAH
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To: LiveFreeOrDie2001

The 75 basis point rate cut is fine but we still need our $800/$1600 stimulus package.


35 posted on 01/22/2008 5:31:00 AM PST by NRG1973
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To: guitfiddlist

Canned speech for the Chamber of Commerce. No help to the futures markets whatsoever.


36 posted on 01/22/2008 5:31:18 AM PST by jiggyboy (Ten per cent of poll respondents are either lying or insane)
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To: flaglady47

Futures are based on buy or sell orders placed before the market opens for trading. That’s why they are called “futures”


37 posted on 01/22/2008 5:31:33 AM PST by aroundabout
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To: LiveFreeOrDie2001

Seatbelts on..


38 posted on 01/22/2008 5:32:31 AM PST by SE Mom (Proud mom of an Iraq war combat vet)
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To: NRG1973
The 75 basis point rate cut is fine but we still need our $800/$1600 stimulus package 10% flat tax rate for all.
39 posted on 01/22/2008 5:32:43 AM PST by listenhillary (A government big enough to give you everything you want is big enough to take everything you have.)
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To: SE Mom

Prime rate cut from 4.25 to 3.5%.


40 posted on 01/22/2008 5:34:58 AM PST by Liberty Valance (Keep a simple manner for a happy life :o)
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