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6-26-02 Wall street watch

Posted on 06/26/2002 6:21:00 AM PDT by newsperson999

It's going to be a long day folks, Worldcom has the market on edge. Overseas markets were down 2-4% and the Dow futures are off by 225 right now.
New Worldcomm Fraud forum here click


TOPICS: Breaking News
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Comment #81 Removed by Moderator

To: newsperson999
Attention all New York Freepers:

Weather forecast for today:

Sunny and clear, high in the low 80's with occasional showers of falling brokers. Showers most likely to occur in the financial district.
82 posted on 06/26/2002 7:32:56 AM PDT by Nuke'm Glowing
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To: kinghorse
I hear ya there.
83 posted on 06/26/2002 7:37:19 AM PDT by Burn24
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To: Dog Gone
I think the markets are taking the burgeoning barrage of bad news amazingly well!!! They're not even down 2%, YET!!!
84 posted on 06/26/2002 7:45:35 AM PDT by SierraWasp
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To: 2banana; Grampa Dave
"Anyone have picks for well run and honest companies to invest in?"

Paging gramps...MUD

85 posted on 06/26/2002 7:46:35 AM PDT by Mudboy Slim
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To: Fred Mertz
Any thoughts on all of this...think it is time to head to the hills. And on top of all of this last week my employer was asking all of us to take our retirement savings and put it into an Employee Stock Ownership Plan (ESOP) and they would make us all wealthy.
86 posted on 06/26/2002 7:49:51 AM PDT by Wally Cleaver
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To: antivenom
Hmmm, that's Trent Lott country.

I wouldn't shed a single tear if he got caught up in the scandal.
87 posted on 06/26/2002 7:50:18 AM PDT by Diddle E. Squat
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To: mewzilla
Curtiss-Wright uses Price Waterhouse Coopers. I couldn't find out who Helmerich and Payne uses.
88 posted on 06/26/2002 7:50:46 AM PDT by Stirner
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To: Night Hides Not
Unfortunately, speaking as a CPA...

"The first thing we do, let's kill all the accountants." (2 Henry VI, IV.ii) :-)

89 posted on 06/26/2002 7:55:06 AM PDT by Hornetsrule
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To: Hornetsrule
...just those that do audits, if you please! I don't! lol
90 posted on 06/26/2002 7:56:52 AM PDT by Night Hides Not
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To: Dukie
So far, it's not as bad as I expected. But as we have seen lately, things can change awfully quick. Was that yesterday the Dow was up 100+ and ended down 200+?
91 posted on 06/26/2002 8:05:52 AM PDT by Huck
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To: antivenom
BTW, just heard Ann Compton do her ABC radio news spot on this subject. She just HAD to bring up the Enron debacle and indicate that they have HQ in "President Bush's home state of TX." Don't you just find the mainstream liberal media to be SOOOOOOOO transparent?!!?
92 posted on 06/26/2002 8:07:01 AM PDT by anniegetyourgun
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To: Dog Gone
"Curbs come into effect with a 200 point move. There is a pause (an hour I think) with a 500 point move, and I think a complete closure with a 10% move."

As George Will said several years ago, when a movie theatre catches fire, do they lock all the doors for five minutes until calm returns? If someone wants to sell their stock, they should be allowed to do so, at their own peril.

93 posted on 06/26/2002 8:07:08 AM PDT by Not_Who_U_Think
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11:08 -- DOW -146; NASDAQ -26; SP500 -16

The indicies want to rise, but keep hitting resistance at Dow 9000, Nasdaq 1400, S&P 965.





94 posted on 06/26/2002 8:09:05 AM PDT by jae471
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To: r9etb
It's the Bush market now. None of this has anything to do with Clinton.
95 posted on 06/26/2002 8:10:07 AM PDT by Demidog
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To: 2banana
You might want to check out the Timothy Plan.
96 posted on 06/26/2002 8:15:08 AM PDT by toenail
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To: Demidog
This has nothing to do with Bush. These accounting practices took hold years before Bush was even thinking about running for the Presidency. The link to Clinton, IMHO, is that during his tenure, corruption, greed and lying were the ethics of the day. Yes, those 3 vices have always been around, but when the President of the US decides that it's okay to sell our safety for votes, nothing is sacred and anything goes.
97 posted on 06/26/2002 8:16:55 AM PDT by Aggie Mama
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To: Demidog
This is about as much the "Bush Market" as the last five years of the 20th century were the "Clinton Market!" Clinton enjoyed the final push from the Reagan tax cuts even though dampened by the Daddy Bush "read my lips" deception!
98 posted on 06/26/2002 8:19:16 AM PDT by SierraWasp
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To: Wally Cleaver
One word. Cash. Get into cash. I did about two years ago, and I'm really glad I did. Cash is king right now. Also, keep a weather eye on gold. Maybe even acquire a few ounces, I'm partial to maple leafs and American eagles myself. If gold goes above $400 then look out, it could go a whole lot higher, IMHO. But more than anything get out of all stocks and get into cash.

Regarding your employer pushing their stock on their employees, it's been my experience that the harder they are selling the stock the more worthless it is. I would suggest keeping your retirement funds in cash. Sure, %2 interest sucks, but it sucks less than losing %50 or more of yoour money, like so many have.

I've gotten into the habit of taking note of which stocks are being hyped on the TV talking heads shows. Invariably these stocks are in the dumpster two months later. It cracks me up. I remember this guy pumping SEBL a couple of months ago, when it was around $30 a share. Last I saw it was around $13 and change. Such a deal! Buy more!

99 posted on 06/26/2002 8:26:44 AM PDT by Billy_bob_bob
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To: Aggie Mama
This has nothing to do with Bush.

I didn't meant that he had anything personally to do with it. However, there's no Clinton link here per se. This downturn will be laid at Bush's feet though politically since that's what always happens.

100 posted on 06/26/2002 8:27:07 AM PDT by Demidog
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