Todays Stock Market Thread (DJIA 7784.58 (-234.68; -2.93%) NASDAQ 1282.55 (-36.60; -2.77%)

[newsperson999]

Dow 7,784.93 -234.33 (-2.92%)
Nasdaq 1,288.09 -31.06 (-2.35%)
S&P 500 819.51 -28.25 (-3.33%)

[Alberta's Child]

The railroads may have gotten land grants in the past, but I am quite certain that these assets have been off their books for years. Unless you know something that I don't know, and Park Avenue is actually owned by the Long Island Rail Road!

And there is a disconnect in part of that statement, too. Are those fiber optic rights of way part of the same "excess capacity" that has driven so much of the telecommunications industry into oblivion? The railroads may use the revenue generated by fiber optic leases to supplement their regular lines of business, but that doesn't mean these assets have any "value" to the telecommunications industry. If this were the case, then why don't any of the major players in the telecommunications industry buy real estate from the railroads (or even abandoned railroad alignments) for their own use?

[ken5050]

The pros, ands the program traders, are goosing the market..look at the frenzy the last 5 minutes of tr5sading on Friday...they wanted to have the Dow close above 8000.....and at a time when the index funds were seling to raise cash......amazing performance.....today, as always, it'll be the last 30 minutes that tells the story....they'll suck the small investor in, and sell into him.....<P.
FYI, re our discussion last week, didyou read Donlan's column in yesterday's Barron's?

[RightWhale]

Anybody know what he's buying?

He buys less glamorous companies, businesses that are run as businesses.

[discostu]

October is when 3rd quarter reports come out, in most industries 3rd quarter is the bad quarter (why is different for each industry) so those reports don't tend to say good things. Also I think there's some dupm off in October as people look for liquid coming into the holiday spending spree, but that's my own personal theory I have yet to back up with a single fact. But the general rule of thumb is that Fridays are bad, October is bad, Fridays in October get names (like The Crash of '29, The Crash of '87, you see the trend). Could be that the blood letting now will take all the steam out of October and leave things pretty mellow. Or it could be that this is a harbringer of another titled October Friday. Unfortunately there's no way to know which track we're on until All Hollows... better make that Nov 4, Nov 1st is a Friday.

[Vets_Husband_and_Wife]

The Lock box is a total farce. You are correct, our names are etched in stone on that lock box. Sadly, it never needed to be that way. Had our Government acted responsibly, the Medicare system would have NEVER been in trouble. They should never have borrowed from it. And should stop NOW.

The program itself, was a good one. It was politicians dipping thier collective fingers in it constantly, as if it was an endless pot of honey, that has harmed it.

[Redleg Duke]

Right along with..."If youse putta bullet inna furnance...itta explode!"

[vooch]

dow 2500 is possible........during the 1919-1939 and 1958-1979 periods the market dropped to less than 30% of its peak.

we need $1.7 Billion inflow per day from Europe and Japan just to stay even........

[palo verde]

I don't think pre-clinton history applies now
When the race for 2000 prez began
all pundits said a sitting vp in time of peace and prosperity will win big time, based on all past experience
instead Gore never got his base on board
and Bush had tsunami
We are in new times
Love, Palo

[wardaddy]

The odd thing is that quite a few of the high P/E techs you mentioned have held up better the past couple of weeks than the bricks and mortar gang. M/S for example. I will admit, I simply do not quite get this market. I feel we are suffering from an "irrational non-exuberance" at the moment.

Oddly as I've been typing these past few minutes, it looks like the bulls are now carrying the day....for what that's worth. Most of the old traders and market makers I know always claim they make 90% of their money in the last hour or so.....we'll see.

Whoops...just checked my stream again....scratch that mini rally...this is going to be a wild finish today.

[wardaddy]

You go girl!!!....hang tuff!

[Redleg Duke]

"Somewhere in a mountain rabbit hole, Bin Laden is rotting."

[Lee_Atwater]

Berkshire within the last month made an investment in a company named Level 3 - a telecommunications firm.

[RooRoobird14]

A local economist in Arizona here (Elliot Pollock) said yesterday on the radio "the fundamentals of the economy are in the best shape they've been in" in the last 100 years. He believes the spending of the "not to be denied" baby boomers will carry the economy. Why: lots of disposable income--especially as more become "empty nesters", the "I need I want I must have" mentality, and there's SO MANY baby boomers).

I hope the heck he's right.

[Redleg Duke]

The Dems and the Media don't want all of the pain at once. They want this lingering up until the elections so that the sheeple vote them in.

[Vets_Husband_and_Wife]

DANG.. I'm sorry to hear that. Honestly.

But hang in there!! Historically it always rebounds. It might make you feel better to look at the history. I know that doesn't help right now, not with the way you are being stung, but the honest truth (from what I'm reading) is that people were expecting way to high a return from the markets. They were getting it too. But it was an unrealistic return. Not based on anything solid.

I don't know what others here think, there are a ton of people more educated than I am in this area.. but I would think you are wise to sit on the sidelines. And, if your broker pulled out soon enough, and is sitting on the sidelines,.. then you may be in a wonderful position soon. If you can re-invest at the right time, I would think the chances of you regrouping were excellent. I sure hope so!! Hang in there friend. I'm sorry you have experienced this. It has to be gut wrenching. Bloody HECK!! Thats got to hurt.

[Southack]

Buffet's Level 3 investment was led by Crowe, the same "genius" who gave us the Worldcom bankruptcy (after he had pumped and dumped the stock, of course)...

[Vets_Husband_and_Wife]

dow 2500 is possible

Wow.. say it ain't so!!!!

[Mo1]

Not sure what he is buying .. just that he is

[wardaddy]

I sympathize. We're about 40% cash right now. Since my wife made me quit daytrading, I know rely strictly on my pro at DLJ (CSFB) in Manhattan. He is a fairly sage 62 year old manager. We're down but not as bad as the markets. What we're going thru now reminds me of when I used to daytrade and hold a large position overnight or God forbid ...over the weekend hoping for a reversal of fortune. Angst.

[patent]

>>>who else but a railroad would have any use for a piece of real estate that is 500 miles long and 100 feet wide?

World's biggest strip mall?