[dalereed]

I think we're headed into a world wide depression that will be worse than the last one, the one I grew up in. It might take a number of years of drops and short small rallys but before it's all over the $3000-3500 area is where I see the market start to rebound and the country rebuild itself.

The fed could flood the market with paper and cause inflation like they did durring the Carter years but if they do, the crash will be just that much worse.

[meyer]

I think we're headed into a world wide depression that will be worse than the last one, the one I grew up in. It might take a number of years of drops and short small rallys but before it's all over the $3000-3500 area is where I see the market start to rebound and the country rebuild itself.

The fed could flood the market with paper and cause inflation like they did durring the Carter years but if they do, the crash will be just that much worse.

Ha! You threw me off with that dollar sign! :) I saw the $ and though of total market value, not the DOW figure. Imagine the total value of all stock held being $3500.

I still don't see the DOW getting that low, but then I didn't see it hitting 11,700 either. IMHO, of course.

[raygun]

Internally, I see no clue to a change of character in today's action. The market is marking time and waiting, I think, for an excuse to go up; action is obviously negative on balance. However, there was one interesting reading. In the stocks of companies with fast earnings growth, advances outnumbered declines today 52 to 25. Ordinarily these stocks also go down with the rest of the market, but not today. This could be interpreted as a move towards greater confidence than we have seen for the past several days.