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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[quote author="bltserv" date=1223341413]We are entering the "Panic" stage at this point.

The Equity Markets "Capitulation" point is still down the road.

It may be weeks away. This is very dangerous indeed.</blockquote>


Eveybody and their grandmother now believes this.



So I have to wonder exactly how useful this piece of information is, as of now.



All this is crowd behavior guessing at this point.
 
[quote author="muzie" date=1223341599][quote author="bltserv" date=1223341413]We are entering the "Panic" stage at this point.

The Equity Markets "Capitulation" point is still down the road.

It may be weeks away. This is very dangerous indeed.</blockquote>


Eveybody and their grandmother now believes this.



So I have to wonder exactly how useful this piece of information is, as of now.



All this is crowd behavior guessing at this point.</blockquote>


Really, when you think about it, all equities markets pricing is guessing at crowd behavior. Sometimes people think it is different than that and point to P/E ratios and the like, but strip away all the analysis, and it is still trying to guess what the crowd is going to do next.
 
[quote author="irvine2010" date=1223339007][quote author="muzie" date=1223338790]Just take a deep breath. It's pretty nerve-racking, yes. My heart is pumping even though I have 66% in cash. Without shorts, my losses are pretty substantial even with only a 33% position. Pulling everything out when the market is already down 6% isn't the best plan.



Even if we go lower, there's bound to a bounce here soon.</blockquote>
looks like when all the hopes for bounce will fade then only it will happen. now to me looks like fed is gonna come up with a emergency cut of 50 pts.</blockquote>


Emergency cut of .50 isnt going to do jack. Maybe if they make interest rate -3%, then it will do something. You know, where they pay you to borrow...??
 
[quote author="IrvineRenter" date=1223341917][quote author="muzie" date=1223341599][quote author="bltserv" date=1223341413]We are entering the "Panic" stage at this point.

The Equity Markets "Capitulation" point is still down the road.

It may be weeks away. This is very dangerous indeed.</blockquote>


Eveybody and their grandmother now believes this.



So I have to wonder exactly how useful this piece of information is, as of now.



All this is crowd behavior guessing at this point.</blockquote>


Really, when you think about it, all equities markets pricing is guessing at crowd behavior. Sometimes people think it is different than that and point to P/E ratios and the like, but strip away all the analysis, and it is still trying to guess what the crowd is going to do next.</blockquote>


That crowd mentality is now a rush for the exits. Its no longer a guess but a fact.

The question is how many will die in the fire.

Trillions are vaporizing before our eyes. Dow @ 9670
 
Here is my take. Since Sept 11. Dow has grown to 14K. On what?? somebody tell me? What have we done as a nation that deserves a 14K? NOTHING.



As a matter of a fact many argue that people are worse off today then 8 years ago. So...take 14K and discount it back to about 8K where we were prior to Sept 11. Since that is where we should have been.

Throw in the fact that banks are screwed and our debt is sky high as a nation and 7K might be sounding good. Maybe that revision should be 5-6K.



Either way, shorts is where its at...
 
[quote author="blackvault" date=1223342428][quote author="irvine2010" date=1223339007][quote author="muzie" date=1223338790]Just take a deep breath. It's pretty nerve-racking, yes. My heart is pumping even though I have 66% in cash. Without shorts, my losses are pretty substantial even with only a 33% position. Pulling everything out when the market is already down 6% isn't the best plan.



Even if we go lower, there's bound to a bounce here soon.</blockquote>
looks like when all the hopes for bounce will fade then only it will happen. now to me looks like fed is gonna come up with a emergency cut of 50 pts.</blockquote>


Emergency cut of .50 isnt going to do jack. Maybe if they make interest rate -3%, then it will do something. You know, where they pay you to borrow...??</blockquote>
at this pt, whatever they do it backfires, but i know they will keep doing 1 or another thing just to show that we are watching, will do whatever we can.
 
[quote author="blackvault" date=1223342913]Here is my take. Since Sept 11. Dow has grown to 14K. On what?? somebody tell me? What have we done as a nation that deserves a 14K? NOTHING.



As a matter of a fact many argue that people are worse off today then 8 years ago. So...take 14K and discount it back to about 8K where we were prior to Sept 11. Since that is where we should have been.

Throw in the fact that banks are screwed and our debt is sky high as a nation and 7K might be sounding good. Maybe that revision should be 5-6K.



Either way, shorts is where its at...</blockquote>


Man, I've been short for three months and at the time felt like I was the only sane man in the world, and the entire world was against me.



Now it looks like I'm the only one saying this is overdone. I'll never get any relief :-P.
 
[quote author="muzie" date=1223343787][quote author="blackvault" date=1223342913]Here is my take. Since Sept 11. Dow has grown to 14K. On what?? somebody tell me? What have we done as a nation that deserves a 14K? NOTHING.



As a matter of a fact many argue that people are worse off today then 8 years ago. So...take 14K and discount it back to about 8K where we were prior to Sept 11. Since that is where we should have been.

Throw in the fact that banks are screwed and our debt is sky high as a nation and 7K might be sounding good. Maybe that revision should be 5-6K.



Either way, shorts is where its at...</blockquote>


Man, I've been short for three months and at the time felt like I was the only sane man in the world, and the entire world was against me.



Now it looks like I'm the only one saying this is overdone. I'll never get any relief :-P.</blockquote>


No Shoob, I have also been on the short side but mostly in the commodity area. I think this will get a bit more overdone when the mutual fund people catch the panic and mindlessly dump on the market more...probably tomorrow and the next day after they watch tonights news.
 
-It was a lot more fun talking about what would happen than experinceing it huh? the bubble crash I mean.



hey it's not the end of the world. we are safe we have food and water. 70% of the world does not know where their next meal will come from.



My father & Grandmother spent 2 years in a concentration camp from 1944-1946. In yugoslavia. I have a different perspective than most Americans.
 
I've fallen off the wagon... I need to attend a meeting.



I made my first day trade in perhaps five years. The little greeen and red blinky lights are so beautiful to behold again. Man I have missed them!



Just need to decide how far QQQQ can climb before close. Bought 1000 shares at $33.60. Was hoping to exit at $34.60 but alas that may not come to pass...
 
- I guess america is going to eat a big slice of humble pie then.



-drive 5 year old domestic cars?

-bunk beds in the kids room.

-multiple familiys in one house. God Forbid. (is that not how primates live anyhow??).



Play old Xbox no xbox 360 for you.

-books from library, mac and cheese. domestic beer. use the cell phone untill it breaks. no new model each 12 months.

-No blue ray upgrade?





Oh the horror.
 
So be it. I went long. Now only 33% cash.



Already showing a profit, and in fact this is now an up day for me.



I may not hold this for long, but we'll see.
 
[quote author="Trooper" date=1223347387]IPO !!! GET AWAY FROM THAT COMPUTER !!!!!</blockquote>


Scary stuff Troop. I could get addicted again.



Cleared the position at $34.85. I'm off to lunch with my $1200 profit...
 
Sept 2, usctrojanman predicted this:



H<em>ere?s my predication for what this year?s lows will be for the markets?



Dow - 10,000

NASDAQ - 2,000

S&P;- 1,100



These are all about 10-12% drops from today?s levels.



The price of Oil will go below $90/barrel before year end and gold will go below $750/oz Anything that shot up like a rocket in price is coming back down to earth. </em>



SHATTERED ! Scary stuff indeed.
 
[quote author="ipoplaya" date=1223348445][quote author="Trooper" date=1223347387]IPO !!! GET AWAY FROM THAT COMPUTER !!!!!</blockquote>


Scary stuff Troop. I could get addicted again.



Cleared the position at $34.85. I'm off to lunch with my $1200 profit...</blockquote>


Attaboy.

Cleared a 3000$ profit here as well, similar positions. I forgot how it felt to actually make money for a change.



Holding this one overnight - we'll see.
 
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