Thread #2 BREAKING Market In Freefall- Dow Jones Down 600+ points in 45 minutes

CNBC.com ^ | September 17, 2001 | Ron Isana

[Moonlight Graham]

Bottom should be at 900-1200 Hold on!

[xzins]

8500

[SamAdams76]

Let the foolish ones lock in their losses. The wise investor should be in a buying or holding pattern today.

[CedarDave]

Watched the start of the NYSE trading. Hillary was on the podium, up front, just to the right of the Treasury Secretary O'Neil (who was just to the right of the exchange president). Chuckie was on the left side of the podium.

[Noslrac]

S&P and NASDAQ seem to have bottom'd out already, and gaining back a little.

Noslrac

[blam]

-516

[Soren]

I think the series of hits we took were as various stocks opened for trading. Not all DJIA stocks opened at 9:30. Now that all 30 are open, we seemed to have found some stability. The Naz has also found bottom (for now).

[SEA]

Investment advice for this week:

Short Afgan futures

Convert all near-eastern paper money

Dump gov't bonds issued by Afganistan, Iraq, etc.

Buy Afgan waste disposal and trauma unit stocks.

[Moonlight Graham]

What was the low -630?

[Kevin Curry]

Watched the start of the NYSE trading. Hillary was on the podium, up front, just to the right of the Treasury Secretary O'Neil (who was just to the right of the exchange president). Chuckie was on the left side of the podium.

The NYSE symbolically flanked by two vultures. Hardly a reassuring and inspiring scene.

[RooRoobird14]

Easy come, easy go. Oh well, I didn't need that 401k anyway.(.....wincing LOL.....)

[TruthShallSetYouFree]

The Dow consists of 30 stocks. Each listed stock trades at a post, where the specialist matches buy and sell orders. In chaotic markets, not every stock opens right at 9:30--it takes time to find an opening price that will clear the market (same number of buys as sells). It took a particularly long time to open the stocks today, particularly American Express and General Motors. As each new DOW component opened (lower) it added to the downside movement of the DOW. Now that they are all open, the market seems to have stabilized, and is even showing some slight improvement. Now, if you start to see consistently lower prices, dropping 50 to 100 points in a few minutes, then you can call it freefall.

[RedBloodedAmerican]

Thats right. Anyone who bails is in it for a get rich quick scheme, and not investing in America. Purely selfish reasons.

Buy Buy Buy

[NCSteve]

Yippee! Plenty o' bargains this afternoon. I'm calling my broker to put in some buy orders.

[Rebeckie]

I really hope that the stock market improves soon...people need to just have more faith...there are alot of college kids out there like me that have alot of college money invested in stock.

[Mrs. P]

'Short Afgan futures'

OK, I don't know anything about the stock market. What does 'selling short' mean and how do I do it and is it legal?

[AppyPappy]

Delta was down 17, now down 16.

[RedBloodedAmerican]

Lets not forget one big driver was the Coffee Sugar and Cocoa exchange.

They were in WTC #1.

[Rebeckie]

I am going to wait this one out, I refuse to sell off my stock right now and my dad is doing the same thing as me...we are going to wait this one out.

[Freedom'sWorthIt]

What are you buying?