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DOW Falls Below 10,000(Down over 300 Points)
DJIA ^ | 10-6-08

Posted on 10/06/2008 7:07:18 AM PDT by icwhatudo

DJIA just prior to House defeat of bailout: 10843

DJIA close the day after House defeat of bailout: 10850

DJIA just prior to Senate approval of bailout: 10831

DJIA close the day after Senate approval of bailout: 10482

DJIA just prior to House approval of bailout: 10679

DJIA close the day after House approval of bailout:??? 9999 and dropping

(Excerpt) Read more at finance.google.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS: 110th; 2008; bailout; congress; corruption; democrat; democrats; demron; djia; elecitons; election; elections; financialcrisis; radicalleft
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To: Cold Heat

We better be getting there, Cold Heat. This is getting painful even for people who have largely been on the sidelines for the last few months.

Personally, I will be looking to get back into equities in a big way when I think that credit markets show any signs of stabilization. I’m ignoring all stock market action as just noise. Just my opinion. Good luck to ya.


181 posted on 10/06/2008 12:46:48 PM PDT by dashing doofus (Those who are too smart to engage in politics are punished by being governed by those who are dumber)
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To: dashing doofus
Well, I have really taken it on the chin since march of this year. Made some bad decisions.

The thing is, that the entire planet has to de-leverage. It started with the brokers, spread to the banks and then to the blue chips and down to the small caps, and as that occurred, the investor has de-levevered.

There is still perhaps some more to go. We are only back to 2003-04 levels. But, there are some great buys out there. To get in now you have to hold your nose and jump, expecting to take some more downside. If you can do that and you think we will have a turnaround in the medium to long term, 1yr-5years, then I would be a buyer and just not look at it every day.

As my savings are pretty much gone, I won't be buying much, but I will be dollar averaging in as time passes.

182 posted on 10/06/2008 1:12:35 PM PDT by Cold Heat (Well....................................That's .....that.........)
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To: Cold Heat

No one is immune, Cold Heat. We’ve all taken hits. I wish I had had the courage of my convictions to have gotten 100% out 18 months ago, when this all began (or before that when some people were already blowing the whistle on the real estate correction and connecting it to the the trillions of MBS products out there in the real world), but nooooo, like a Doofus, I held on for too long, and paid.

At some point, there will be an enormous buying opportunity. But, there is just too much uncertainty now, on corporate balance sheets due to the derivatives and CDS products and the resultant counterparty risk besides the inherent risks of these “weapons of mass destruction,” and also because of the election, especially given The One’s lead in the polls (though a month is an eternity in politics).

One thing everyone here can agree on is that OBAMA would be a disaster for capitalism and whatever is left of free markets after this very sorry affair has sorted itself out.


183 posted on 10/06/2008 1:21:11 PM PDT by dashing doofus (Those who are too smart to engage in politics are punished by being governed by those who are dumber)
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To: dashing doofus

I know exactly how you feel.


184 posted on 10/06/2008 2:05:57 PM PDT by Freedom_Is_Not_Free
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To: Freedom_Is_Not_Free

Thanks, Freedom. It was getting a little lonely here on Free Republic. And right after I donated a few bucks, too.... ;-)

Keep up the good work — I’ve seen your posts.

DD


185 posted on 10/06/2008 2:10:15 PM PDT by dashing doofus (Those who are too smart to engage in politics are punished by being governed by those who are dumber)
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To: Xenalyte

He is not a republican. At best he is a RINO. He is a bum. He married to the Kennedys, lock stock and barrel.


186 posted on 10/06/2008 3:44:32 PM PDT by RetiredArmy (Is McCain EVER going to go on the attack? Nope. That will never happen.)
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To: Cold Heat

I suspect one motivation of the anti-bailout crowd is that they want the economy to fail in order to punish the general public for not supporting their “true conservative” saints (i.e Duncan Hunter, Tom Tancredo, & Alan Keyes).


187 posted on 10/06/2008 10:12:59 PM PDT by yongin (Send a message to the MSM. Vote for Sarah Palin)
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To: yongin
Interesting theory......LoL....

My first impression was that they can't decipher the why and the how, so they revert to mantra which is considered to be THE morality. It's as much a religion on the right as liberalism on the left.

One thing I know for sure is that Politics ain't no damn religion! It ain't hope, and it ain't dreams. It won't feed your kids, or keep you dry. It won't prolong your life, or kill you.

I can revert to reality in seconds, and some cannot. I believe that I keep one foot in both worlds at all times.

188 posted on 10/07/2008 6:59:42 AM PDT by Cold Heat (Well....................................That's .....that.........)
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To: Cold Heat
or kill you.

Ron Brown's ghost might disagree with you on that point.......

189 posted on 10/07/2008 7:03:25 AM PDT by Osage Orange (" I did not have radical relations with that man, William Ayers. " -Barack Hussein Obama)
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To: Osage Orange

Politics does not do the killing, the people do, but then that could be a political argument as well.....:-)


190 posted on 10/07/2008 8:03:23 AM PDT by Cold Heat (Well....................................That's .....that.........)
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To: Cold Heat

Look at the market. I cannot imagine that Wall Street will go for Obama when he has promised he will increase Capital Gains taxes to 30% from the current 10%.

Either that, or most investors are not yet aware of what Obama is or will do if he gets elected.

Imagine a 30% Capital Gains tax and what THAT will do to the future of the market?


191 posted on 10/07/2008 8:12:03 AM PDT by PSYCHO-FREEP (Sara Palin; The Orca in a bay of Democrat Belugas!)
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To: PSYCHO-FREEP
The Street, or the market makers as they term themselves are indeed aware of Obama's intentions, however........they are largely of Democrat registration and are not conservatives anymore. There are a few remaining tokens but they generally vote to the left.

They think that Obama is making these claims to solidify the left as Clinton did, and they figure he will face reality when he takes office, as Clinton did.....

What they missed is that Obama is the left. If anything, he panders to the right.

We know this, but they don't or are not sure. They will break heavily for Obama in the end, unless something changes IMO.

192 posted on 10/07/2008 8:23:47 AM PDT by Cold Heat (Well....................................That's .....that.........)
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