HOLY SMOKES : Did i read this right? Dow below 10,000 S&P;1,100 Nasdaq 1500. Is this possible by October?

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Did you know?

The market was 500 trades away from Armageddon on Thursday.



Did you know?

Had the Treasury and Fed not quickly stepped into the fray that morning with a quick $105 billion injection of liquidity, the Dow could have collapsed to the 8,300-level - a 22 percent decline! - while the clang of the opening bell was still echoing around the cavernous exchange floor.



Yes, you heard that right...!! DOW would of been 8,300 had that injection not come in.



Imagine what else the average American doesn't know about what's really happening behind the scenes? Let's just say that the real truth is not being revealed on CNBC.



http://www.nypost.com/seven/09212008/business/almost_armageddon_130110.htm



<img src="http://www.nypost.com/seven/09212008/photos/bus037a.jpg" alt="" />
 
Yeah... the NY Post is the most credible financial news source in the world. /sarcasm



Oh... did you see how the Chinese government had to step in and buy shares to stop the absolute death spiral their markets have been taking? Just like us, but worse, their markets are tanking and if we didn't get the government to step in the Hang Seng would have been down to the 2000 mark. Wiping out all those amateur investors they have. Kinda cool how the Chinese markets have been in lock step with us, but their losses have been worse. Good times, good times. Better buy Chinese stocks or be priced out forever. It's a new paradigm there.
 
[quote author="ukyo116" date=1221948027][quote author="norcaljeff" date=1221905712]Anyone check out Berk A today? About the safest investment out there and it moved 18% today! Holy crap that's gotta be the biggest one day gain in their history. It's also a $19K move in the stock. Wow, I'm speechless. Almost makes tech stocks seem tame.</blockquote>


I think Berkshire is one of those companies of the list of 799 that you can't short.



Who the hell would short Berkshire??</blockquote>


Well if you can't short it that shows you even more how powerful of a rally that stock had on Friday alone.
 
[quote author="PANDA" date=1222079267]



Did you know?

Had the Treasury and Fed not quickly stepped into the fray that morning with a quick $105 billion injection of liquidity, the Dow could have collapsed to the 8,300-level - a 22 percent decline! - while the clang of the opening bell was still echoing around the cavernous exchange floor.



Yes, you heard that right...!! DOW would of been 8,300 had that injection not come in. </blockquote>


Uh, yeah, that's what I was banking on. See, I've basically been sitting in cash since March waiting for this once-in-a-lifetime event and how silly of me for thinking I'll be rewarded for doing the exact opposite of everyone else. The best part of it all is trying to control my temper as these politicians explain how this wasn't a Wall-Street problem, but rather everyone is at fault for the orgy of excess even though I've basically eaten nothing but ramen noodles the past 5 years as a diligent saver.



Lesson learned? Do what everyone else is doing because we'll all pay for it in the end anyway. Of course, having chose not to drink the Kool-Aid, I was a loser on the way up and now I'm a loser on the way down.



------

So, let's start working on the next asset bubble because I can't wait to get in on the action! America! F*ck Yeah!





<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
 
[quote author="PANDA" date=1222079267]Did you know?

The market was 500 trades away from Armageddon on Thursday.



Did you know?

Had the Treasury and Fed not quickly stepped into the fray that morning with a quick $105 billion injection of liquidity, the Dow could have collapsed to the 8,300-level - a 22 percent decline! - while the clang of the opening bell was still echoing around the cavernous exchange floor.



Yes, you heard that right...!! DOW would of been 8,300 had that injection not come in.



Imagine what else the average American doesn't know about what's really happening behind the scenes? Let's just say that the real truth is not being revealed on CNBC.



http://www.nypost.com/seven/09212008/business/almost_armageddon_130110.htm



<img src="http://www.nypost.com/seven/09212008/photos/bus037a.jpg" alt="" /></blockquote>


From article:



"Without commercial paper, "factories would have to shut down, people would lose their jobs and there would be an effect on the real economy," Paul Schott Stevens, of the Investment Company Institute, told the Wall Street Journal."



The "real" economy, as opposed to the complete fake bullshit system that's currently under operation in the financial markets.



Words always contain more truth than they let on.
 
HOLY MOLLY.. WHAT IN THE PandaMonium is Going on????



DOW down 535 -4.81%

NASDAQ down 150.71 -6.90%

S&P 500 down 79.87 -6.58%



Man, I just wish Irvine home prices were going down as fast as the DOW. Any of you guys actually buying in on U.S. equities right now? DOW Jones is on SALE for 25% Off from Oct 1st, 2007 prices. Did you guys know that Banana Republic had a 30% OFF everything Sale last Friday thru Sunday? I've never seen a sale like that before from BR. I mean EVERYTHING was 30% OFF! Panda loves BR and he was shoppin. I do have to admit that i have never seen this particular mall this empty before in my life time. It kinda felt sort of weird.



I just can't get over how cheap Chinese/Hong Kong equities are right now. It is like buying a 2300 square feet SFR in Newport Coast for only $500k. First time loading up on FXI shares this year when it hit $32 couple weeks ago.... Waiting to load up on more shares when prices get down to mid to high 20s range. I will guarantee you will not see these prices again for FXI. Think buying in Irvine from 2012- 2015. Quality Stocks at Dirt Cheap prices.
 
[quote author="irvine2010" date=1222740196]and i don't believe myself that i am up 25% ofcourse b'coz of SKF, QID and SDS</blockquote>


OMG??? Irvine 2010? Is it legal to invest those ETFs? I mean you are up like 20 - 25% today, while our U.S. economy is going down the toliet. I mean, I don't want to goto jail... I am too young to goto jail.



Dude, you are making a killing right now. Panda's hats off to you bro!
 
[quote author="PANDA" date=1222740585][quote author="irvine2010" date=1222740196]and i don't believe myself that i am up 25% ofcourse b'coz of SKF, QID and SDS</blockquote>


OMG??? Irvine 2010? Is it legal to invest those ETFs? I mean you are up like 20 - 25% today, while our U.S. economy is going down the toliet. I mean, I don't want to goto jail... I am too young to goto jail.



Dude, you are making a killing right now. Panda's hats off to you bro!</blockquote>


Actually Panda, if people like Irvine2010 (and me? :-P) get to profit when everybody loses, it's a plus for the economy. If some shorts win while longs lose, then there is at leats a partial transfer of wealth which can be recycled in the real economy.



If EVERYBODY is long, then in crashes like this, the wealth just disappears.
 
Also, congrats to Irvine2010. This is really getting dicey though.



I've been short since July - I lost a lot of my gains because there just was so much whipsawing that I ended up covering my shorts with bad timing.



This market is tiring. If the house revisits this like 2 days for now and passes the bill, well, wouldn't be surprised to see another 500 up day this time.



Then followed by a move down. Who the hell thought the bailout bill would fix the real economy anyway?
 
Yup, I've haven't seen anything like this either. So happens now if Congress rejects the $700 Billion bailout? What does it mean for you and me?
 
[quote author="PANDA" date=1222740585][quote author="irvine2010" date=1222740196]and i don't believe myself that i am up 25% ofcourse b'coz of SKF, QID and SDS</blockquote>


OMG??? Irvine 2010? Is it legal to invest those ETFs? I mean you are up like 20 - 25% today, while our U.S. economy is going down the toliet. I mean, I don't want to goto jail... I am too young to goto jail.



Dude, you are making a killing right now. Panda's hats off to you bro!</blockquote>


i am out of all stocks since jan 2008, only proshares ETF, which worked out very well. its just b'coz of mkt volatility. that's why i am saying, i don't believe myself also.
 
I'm confused. if this day is the single largest drop in the Dow, then shouldn't it be called Black Monday?



How much did the first Black Monday drop by?
 
[quote author="Shooby" date=1222752439]I'm confused. if this day is the single largest drop in the Dow, then shouldn't it be called Black Monday?



How much did the first Black Monday drop by?</blockquote>
22.6% in 1987, total fall was 508 points in one day. In comparison, today's drop was just short of 7%.
 
So all of you who predicted things would get ugly...is this ugly? Or will it get uglier soon?



I mean, you practically have a bank going belly up every other week, dow falling about 3500 points from its peak, unemployment rates skyrocketing, tightening credit, tumbling housing values, high energy costs...



Is there anything good. Ummm...Bush is almost out of office?
 
[quote author="Shooby" date=1222754538]So all of you who predicted things would get ugly...is this ugly? Or will it get uglier soon?



I mean, you practically have a bank going belly up every other week, dow falling about 3500 points from its peak, unemployment rates skyrocketing, tightening credit, tumbling housing values, high energy costs...



Is there anything good. Ummm...Bush is almost out of office?</blockquote>


It will get uglier. I talked about this before. Even if the bailout passes it will do jack squat.



We are arrived here through fraud that pushed home prices to a level that is supported by nothing more than then crap that you watch spin down your toilet. All the money that flooded into the housing market has to come back out to the point that it reaches financial sense.



If the bailout goes through money will be printed as nobody will lend it to us anymore. Money printed = Inflation.



So if homes don't correct themselves by falling, they will through inflation. Homes will be worth 500K+ in Irvine, but as I said before your paycheck probably will be 3x what you are getting now and that loaf of bread will be 15 dollars.



This is stemming from the big rise in people that can't pay for their 700K homes on their 50K income. This bailout WILL NOT make that go away, meaning the problem will continue. If you think think this is bad? What do you think will happen next year? People don't have a clue that the biggest amount of ARM loans are due to reset in the next two years starting from 2009 and peaking mid 2010...

-777 drop in DOW is light. I'm willing to bet someone that by mid next year, DOW will be around 7K.



Point is our nation has borrowed an unbelievable amount to pay for the massive increases in home prices. Now we have to pay for it...and we can't!



PS: Sell short and buy puts = $$$$$$$$$$$$$$
 
I don't see how you can say the dow will be at 7k next year. I agree that'll be less in terms of bread, gold, ect. How can you be so sure that inflationary forces can't maintain the nominal values over the next 10 months?
 
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