Panic: S&P down over 6%, Dow down over 5%

Bloomberg Terminal | 10/6/08 | Me

[Thane_Banquo]

Looking at hugh panic in global mkts right now. This is vey series.

Australian dollar off almost 8.6% on the day against the USD. One bank said they are seeing literally NO BIDS in the Australian dollar, which is huge considering that you can usually trade several million with the click of a mouse.

[TruthConquers]

I believe this fund is all foreign, and no US dollars.

http://www.merkfund.com/ mostly Euro and Swiss, is the make up the Hard Currency Fund.

But I believe that the Euro will tank as well.

[Warren_Piece]

Would you rather wait to buy when the market is up? ;)

Seriously, what Laz said. DCA. The people who lose the most money are the ones who jump in and out (excluding, of course, the goldbugs. They have the worst sense of timing the universe has ever known). :)

[VlPu]

“If you had purchased $1000.00 of Nortel stock one year ago, it would now be worth $49.00.

With Enron, you would have $16.50 left of the original $1000.

With WorldCom, you would have less than $5.00 left.

If you had purchased $1000.00 of Delta Airlines stock you would have $49.00 left.

If you had purchased United Airlines, you would have nothing left.

If you had purchased Lehman Brothers, you would have nothing left.

If you had purchased Merrill Lynch, you would have $2.00 left.

If you had purchased AIG, you would have $5.00 left.

If you had purchased Washington Mutual, you would have nothing left.

But, if you had purchased $1000.00 worth of beer one year ago, drank all the beer, then turned in the cans for recycling, you would have $214.

Based on the above, the best current investment advice is to drink heavily and recycle.

This is called the 401-Keg Plan”

Now who was the first to compute the real Dow?
http://www.google.com/search?hl=en&q=%22There+will+be+no+stock+market+crash%22

Hint: begin by checking the human cattle.

[zimfam007]

Wouldn't that be brillant... imagine what up to 12 Trillion dollars flowing back into the economy would mean.... it would make this $700 billion bailout look like mousenuts. But of course we couldn't have our lawmakers do something right for a change.... b/c that would mean the largest shift of power in American history.... power from the inept, piece of SH*T lawmakers back to the PEOPLE. But hey WTF do I know.... b/c for the life of me I cannot even begin to fathom what must go on in the tiny brain of people who can continue to pull the lever for the ilkes of people like Pelosi, et al.... and on top of that, that someone like Obama could even be considered for POTUS --- with all the of anti-American, race-baiting hate that he and those he surrounds himself with have espoused for lifetimes!!!!!!!!

[Lazamataz]

now is the ultimate test. who will buy low when everyone is fearful?

I will.

Kin ya lend me a couple a hundred thousand, kin ya?

[Moose4]

Sorry, no can do. You can apply to the gummint for a bailout, or see if you can get some reparations for *something* in your past. That might work.

}:-)4

[Lazamataz]

Sorry, no can do. You can apply to the gummint for a bailout,

I did.

But Pelosi added a poison rider to repeal the Second Amendment, and it was voted down.

[FMBass]

Laz! Your back!

[Taffini]

I guess I will have to sharpen my stilettos and practice walking on concrete if this gets any worse

[listenhillary]

Imagine the small businesses that could be launched when you don’t need to hire a damned accountant to start a business to navigate the tax laws. Imagine the investment in the USA when you are not punished for succeeding.

Sending a percentage of your retail sales to the tax authorities is pretty damned simple.

[Travis T. OJustice]

Laz! Your back!

What about his back, is on fire or something?

[Lazamataz]

You can join my posse.

[Lazamataz]

Laz! Your back!

My back! It hurts!

[Moose4]

Dow’s only down 663 now, it’s rallying. Uh, woohoo?

}:-)4

[listenhillary]

Wuss...

Glad you’re back. Hope the ransom was worth it.

[KTM rider]

",I've wondered about this myself. Assuming a nation as large as ours can remain rich just trading pieces of paper back and forth defies logic. Hurrah somebody else recognizes insanity"

The sad fact is that no one sees that the reason for this "crash" is also the number one cause of poverty in the world, "lack of production". In the US, we live in a service economy, who's main product of trade is consumer debt.....

that is not production

[Taffini]

count me in

when do we ride?

[NVDave]

Since I don’t listen to Brinker, can you fill me in?

What are his timing models saying, and what is he saying?

And what’s this about ‘going back on the gold standard?’

[Lazamataz]

count me in, when do we ride?

Depends when you can get the Mohawk 'do.

[FMBass]

“Laz! Your back!

My back! It hurts!”

I expected nothing less!

Glad to see that You ARE back.

How was the food in solitary?