The Sky Has Not Fallen

nationalreview.com ^ | 09/29 08:25 PM Eastern | Peter Robinson

[Checkers]

We'll see what happens tomorrow, of course, but in the meantime it's worth noting that today the Dow Jones Industrial Average fell only about seven percent.

Only?

Yes, only.

On October 19, 1987, it fell by more than 22 percent.

[Zuben Elgenubi]

I heard a guy on tv saying his 401k is now a 201k.

[icwhatudo]

Anyone have a chart of the stock market from 1928 till today?

[GoLightly]

On October 19, 1987, it fell by more than 22 percent.

Ah, those were the days. Made about a 30% return in a week after that.

[screaminsunshine]

I think tommorrow will be the BOTTOM. Hedge funds have to report. Get ready for a cleanout of the toxic waste. It is the best thing for us. We need a nationwide chapter 13 bankruptcy. Especially for the damn government with 60 trillion dollars debt. SCREW the rest of the WORLD>>> I am an American ...NOT a citizen of the world!!!!

[cherry]

yes....and people forget that this stock market was at 700 when Reagan came to power....a 700 point drop now with dow at 10,000 is not like dropping 700 points when the dow is only 700 to begin with...

of course that does not make me feel any better...

[mass55th]

I don’t know anything about stocks or the market, but had things been as dire as we were led to believe, I would have thought the market would have dropped a lot more than what it did, once the Bill was defeated.

[DRey]

"I heard a guy on tv saying his 401k is now a 201k."

Seeing as how the market only fell 6.8%, if his 401k dropped 50% I'd say he needs a new financial advisor.

[Zuben Elgenubi]

I could only find an overlay extraction:

[sionnsar]

I heard a guy on tv saying his 401k is now a 201k.

Yawn. I heard that one in a quarterly committee meeting two whole weeks ago.

So why are you watching teeheevee anyway?

[microgood]

I think the collapse has less to do with stocks themselves but is due to banks selling all their stocks and hoarding cash. When the DOW, S & P, and NASDAQ all tank equally, it is a general withdrawal.

With no deal, this downward trend could continue until the housing market comes back, which will be several years.

[Alberta's Child]

I'm kind of hoping the stock market slide continues for the next two days.

My monthly automatic investment program buys shares in a bunch of mutual funds on the first day of every month. ;-)

[From The Deer Stand]

What about the good banks that didn’t get into this mortgage scam? US Bank, for example, is strong and was criticized for being “too conservative.” Through good management they’re not failing and they’re not having to be taken-over or bailed-out. And how many banks like this are out there? Many.

[Checkers]

“Yawn. I heard that one in a quarterly committee meeting two whole weeks ago.

So why are you watching teeheevee anyway?”

Fringe and The Shield aren’t on ‘til tomorrow.

Maybe time to crack a book.

[Zuben Elgenubi]

So why are you watching teeheevee anyway?

I think I saw the guy about two weeks ago too but for some reason it just popped into my head. You see the chart above? Captain, where are the shoals?

[Checkers]

yep

[spectre]

The market will go up tomorrow and big money will use this opportunity to buy low and sell higher.

Lows will follow highs...and it will repeat itself until the current situation stabilizes.

sw

[what's up]

The stock market has fallen 4,000 points since last fall.

Today was a signal that it's sliding toward the next down leg.

Those who think the stock market is just going to fall for one or two more days don't know anything about markets.

[Grampa Dave]

[Alberta's Child]

You might be right, but keep in mind that September has historically been a pretty bad month for U.S. stocks.

I'm guessing that by the end of October, the major U.S. stock indices will be within 1-2% of their September 30, 2008 values.