I'm calling a 1,000 point drop for Dow tomorrow

[pavyracer]

[moneyline]

Actually, it'll be a 60 point gain. But, on the bright side, you were close

[Wrigley]

Its going to be a big dip in the first hour of trading but cant see it dropping 1000.

When everyone is selling time to be buying

[rake922]

business is booming

[ShamsWoof10]

Well now wait a sec...didn't BatemenP and I have this dsicussion that once it gets down so low trading will be suspended..?

[DrunkenLullaby]

Actually, it'll be a 60 point gain. But, on the bright side, you were close

Give me under +60 for the limit.

[seymour]

Thanks for the wonderful insight - every market got buried today - the S&P's futures are down 60 and the Dow futures are down 520.

[chandler1981]

I sold alot of my stocks the day before the feds made their brilliant .25 rate cut. I am wanting to get back in soon, but I really think we are gonna see the mkt down for a little longer.

[Thremp]

Doesn't the Dow close before it suffers drops that large % wise?

[jjgold]

Paver settle down

[Cyclone]

It could be very ugly tomorrow. All major exchanges were down today - Hong Kong down 5.5 percent, Germany 7 percent, Brazil 6.6 percent. Australia is down another 4 percent as I write this (4:08 PST). The Dow futures are down 448. Oil is down $2, and gold $18.

The first trading curb kicks in at down 1350 on the Dow, and the next at down 2700.

[RageWizard]

Looks like tomorrow might be a good day to be short. Yee-F'in-Haa. Lets go, I wanna see blood in the streets with people jumping out of office buildings and self inflicted guns wounds. Just kidding, but the dow dropping like a lead weight still would be great.

[Dark Horse]

World markets probably bounce back some from their huge losses yesterday, so the Dow futures should come back some before the market opens.

[Wrigley]

Obama just said on CNN many expecting a 5% drop Tuesday it is going to be ugly.

[ChuteBoxe]

I think 1,000 points is a bit extreme. 300-400 would be more likely if anything, and like DH said, asia and europe will rebound today as a result of buy low - sell high. By that time the futures will make their rebound. I'm going to put the O/U at around 250.

[Patrick McIrish]

Hate to see it but I quit timing the market long ago. I just do the longterm boring DCA and leave it all alone.

[Patrick McIrish]

Doesn't the Dow close before it suffers drops that large % wise?

Good question to ask for us casual investors. I always thought once it dropped to a certain point they shut trading down to avoid the computer generated programs that are in place to avoid really huge drops. Maybe someone who knows for sure can educate us.

[stump]

Hate to see it but I quit timing the market long ago. I just do the longterm boring DCA and leave it all alone.

that's the way to go, especially for the 401k

[stump]

If the Dow Jones Industrial Average falls 10%, trading is halted on the New York Stock Exchange for 60 minutes. If the Dow Jones rallies 10%, there is no restriction. Why? Because program buying and the accompany rally is always perceived as "good".

If the Dow Jones Industrial Average falls 20%, trading is halted on the New York Stock Exchange for two hours. There is no trading halt if it rallies 20%, as that would be perceived as "very very good".

If the Dow Jones Industrial Average falls 30%, trading is halted on the New York Stock Exchange for the day. There is no trading halt if it rallies 30%, as that would be perceived as "the best thing that ever happened in the history of the world".

According to the NYSE the current 10, 20 and 30 percent decline levels, respectively, in the DJIA will be as follows: A 1,350 point drop in the DJIA will halt trading for one hour if the decline occurs before 2 p.m.; for 30 minutes if before 2:30 p.m.; and have no effect between 2:30 p.m. and 4 p.m. A 2,700 point drop will halt trading for two hours if the decline occurs before 1 p.m.; for one hour if before 2 p.m.; and for the remainder of the day if between 2 p.m. and 4 p.m. A 4,000 point drop will halt trading for the remainder of the day regardless of when the decline occurs. Point levels are set quarterly by using the DJIA average closing values of the previous month, rounded to the nearest 50 points. The percentage levels are adjusted quarterly.

[Patrick McIrish]

Thanks for the info Stump, appreciate it.

[ShamsWoof10]

Thanks Stump that's what I was looking for...

[DrunkenLullaby]

Holy shit! Hang Seng down >5% for the 2nd day running. Nikkei down another 4+% as well.

The people that were grabbing falling knives last week are gonna have some arteries severed by those knives on Tuesday.

Still loving my DSF puts and hoping we get gold back into the 825-850 range so I can grab some more and ride the inflation wave that the Fed is going to unleash.

Georgie Porgie's approval rating might hit single digits before he's done. Impressive!

[DrunkenLullaby]

Also, am I the only one laughing now when I hear the phrase "amid fears the U.S. MAY fall into a recession"?

MAY?????

[Dark Horse]

The sad thing is that it could have been avoided. People saw this coming miles ahead, but not the f*ckheads at the Fed.

Sure, if you shorted the market you're laughing, but you're talking about people's jobs and livelihoods in a recession.

[DrunkenLullaby]

Sure, if you shorted the market you're laughing, but you're talking about people's jobs and livelihoods in a recession.

Yes, I'm not laughing at their plight at all. However our president still says we have a healthy economy so I'm sure everything will be alright....I mean, he wouldn't lie to us....naaaah.

[Dark Horse]

That joker in the White House ain't my president. According to my analysis the credit crunch, and lack of transparency, is a direct result of the Plunge Protection Team (started by Reagan) far overstepping their boundaries for many years. We haven't seen them step in in recent months. This would be when they're needed, to prevent the market from plunging (!), but after the mess they helped create they are nowhere to be found.

[Dark Horse]

India's Sensex down 10+ % for the day already. China almost 8% down.

Safety net of emerging markets was just pulled from under us. Setting up a free fall?

[Dark Horse]

India just gained back 5%. Now only down 5%.


Anyway, I agree that Dow could drop 1000 to 1500 pts.

[ShamsWoof10]

Give me under +60 for the limit.

You might be HIT!!!

This may actually be the bottom now...

[jjgold]

not as bad as many thought

We might be near a bottom

[pavyracer]

Look at it to go down in the afternoon once shorts come back from lunch. The Feds can't drop the rate twice in the same day. Banks are reporting huge losses and the dive will continue.

[DrunkenLullaby]

Shit! I wish I had market access to have bought gold right before I went to bed. Saw it touch $850. Now $890.


On a side note, I'd like to congratulate TDAmeritrade on their fabulous software which is clearly not prepared for a day like today.

[pavyracer]

Shit! I wish I had market access to have bought gold right before I went to bed. Saw it touch $850. Now $890.

I have some gold jewlery if you are interested pal. Will you take $875?

[DrunkenLullaby]

Look at it to go down in the afternoon once shorts come back from lunch.

I agree.

[DrunkenLullaby]

I have some gold jewlery if you are interested pal. Will you take $875?

Only if it comes worn by your avatar.