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Dow plunges 733 as new data points to recession
AP ^
| 10/15/08
| Tim Paradis
Posted on 10/15/2008 1:52:49 PM PDT by prolifefirst
Despair over the economy sent Wall Street plunging again Wednesday, propelling the Dow Jones industrials down 733 points to their second-largest point loss ever. Stocks fell on a combination of disheartening economic data, including a big drop in retail sales and a Federal Reserve report that said tight credit conditions are hurting businesses across the country.
The government's report that retail sales plunged in September by 1.2 percent -- almost double the 0.7 percent drop analysts expected -- made it clear that consumers are reluctant to spend amid a shaky economy and a punishing stock market.
The Commerce Department report was sobering because consumer spending accounts for more than two-thirds of U.S. economic activity.
(Excerpt) Read more at biz.yahoo.com ...
TOPICS: Business/Economy; Culture/Society
KEYWORDS: markets
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To: MetalHeadConservative35
“..this is exactly what pelosi and her gang were counting on,..”
Not just counting on - this has been well planned for a long time to come to a head just now. How did they pull it off”
41
posted on
10/15/2008 2:44:50 PM PDT
by
elpadre
(nation)
To: TexanToTheCore
Doubt it. Watch and see my FRiend...watch and see..
42
posted on
10/15/2008 2:45:27 PM PDT
by
politicket
(Palin-tology: (n) - The science of kicking Barack Obambi's butt!)
To: hinckley buzzard
I’ve been trading lately on positive moves, selling, and waiting for the predictable downturn, then buying again. This is almost too easy.
43
posted on
10/15/2008 2:46:11 PM PDT
by
CodeToad
To: elpadre
44
posted on
10/15/2008 2:46:14 PM PDT
by
Osage Orange
(" I did not have radical relations with that man, William Ayers. " -Barack Hussein Obama)
To: TexanToTheCore
BTW...the early returns on the Dow futures for tomorrow morning are sitting at -113.00.
You still staying with your '500 point runup' prediction?
45
posted on
10/15/2008 2:47:45 PM PDT
by
politicket
(Palin-tology: (n) - The science of kicking Barack Obambi's butt!)
To: TexanToTheCore
Profit taking today, poossible run up to the end of the week. This volatile market is a traders dream come true. The pro readers I know, one with a 7 to 8 figure trading income last year, say this volatility since Wednesday has been a nightmare to make money in -- or let me rephrase that -- EASY to make money, EASIER to lose it. Some people have gone with straddles.
There should be upward pressure into options expiration, but that is just a factor; other forces may be stronger.
46
posted on
10/15/2008 2:48:41 PM PDT
by
steve86
(Acerbic by nature, not nurture™)
To: CodeToad
This is almost too easy. Don't get caught long when they nationalize the U.S. banking system. It's coming...
47
posted on
10/15/2008 2:48:57 PM PDT
by
politicket
(Palin-tology: (n) - The science of kicking Barack Obambi's butt!)
To: prolifefirst
48
posted on
10/15/2008 2:49:54 PM PDT
by
B-Chan
(Catholic. Monarchist. Texan. Any questions?)
To: prolifefirst
It's more than worry of a recession, we've been in one. It's the bailout bill and now the new strong-arm tactics of Paulson, the real possibility of a Obama Presidency and whatever else is out there.
To: politicket
I would never trade long in this market. The swings are enough to give me whiplash. A friend and I trade roller coaster barbs like, “Keep all hands and feet inside the car at all times.”
50
posted on
10/15/2008 2:50:33 PM PDT
by
CodeToad
To: EQAndyBuzz
The market will then go up 500 tomorrow and 500 on Friday. PUT. the. crackpipe. DOWN.
51
posted on
10/15/2008 2:53:08 PM PDT
by
Centurion2000
(McCain/Palin 2008 : Palin the Paladin 2012)
To: elpadre
So Pelosi is a idiot or genius
52
posted on
10/15/2008 3:11:37 PM PDT
by
MilspecRob
(Most people don't act stupid, they really are.)
To: Centurion2000
The Market will go where it wants. It could go up 2 thousand points by Friday. There is something called oversold, and this is one oversold market.
I have no idea where the market is going to go, but if I hear one more comment about how this election is dictating the market swings I am going to hurl.
When they "Free Up the Credit Markets" We can all use credit that we can't pay back, that will rescue us! Write some more sub-prime loans... Free it up !
We are so screwed.
53
posted on
10/15/2008 3:12:02 PM PDT
by
Afronaut
(It's 1984)
To: prolifefirst
how convenient this happened on the eve of the debate.
54
posted on
10/15/2008 4:05:46 PM PDT
by
longtermmemmory
(VOTE! http://www.senate.gov and http://www.house.gov)
To: hinckley buzzard
55
posted on
10/15/2008 4:07:35 PM PDT
by
longtermmemmory
(VOTE! http://www.senate.gov and http://www.house.gov)
To: MilspecRob
56
posted on
10/15/2008 4:16:51 PM PDT
by
elpadre
(nation)
To: Centurion2000
57
posted on
10/15/2008 5:29:03 PM PDT
by
EQAndyBuzz
(McCain/Palin 2008)
To: LeonardFMason
I allow myself the indulgence to vote in Drudge’s poll-— McCain 75%
The Other guy 24%.
58
posted on
10/15/2008 7:55:01 PM PDT
by
Sundog
(Palin --- She who can shoot a moose can shoot a Russian bear.)
To: prolifefirst
Is it my imagination, or does the economy tank in direct proportion to Obama’s upswings in the polls?
59
posted on
10/16/2008 8:09:49 AM PDT
by
MayflowerMadam
(If it's not close, they can't cheat.)
To: politicket
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