Anyone Watching the Market today??

chefdennis · Mar 2, 2009

The gov adds to the AIG bailout and man is the market tanking....Im sure they will manipulate the closing and it won't be below 7000, altough it has been all day, but one never knows and the gov continues its bailouts!!

If it isn't time yet, I am thinking that it will soon be time to do as the old trader saying goes:

"buy when blood is running on the streets' or 'be greedy when others are fearful........."

I have been out of the paper market for so long, I'd have to really look long and hard... but it might be worthwhile if not now, soon....unless you think the buttom hasn't been hit yet...Talk on the radio today was that we could see 3-5000 before it stops, if it stops.....on 2nd thought.....

Thanks Barry!!!

layoutshooter · Mar 2, 2009

Oh course the market is tanking, they know Obama's plan sucks. Only wild eyed dreamers, bums and Obama's team don't know it. Layoutshooter

chefdennis · Mar 2, 2009

Dang the Dow hits 6763!! A new low in almost 12 yrs. and they thought it would never see 7000.......which was half of the last high of 14,000....lol maybe this 6800 will be the new 14,000!!

Ad the S&P fought back to what, 700!! LOL, if this wasn't bad it would be funny..and whats even funnier is it isn't going to get any better for a long time to come....

"Go Barry, Go Barry, Go Barry", guess Timmy is still having issues with Turbo Tax!!!!

layoutshooter · Mar 2, 2009

Hey Chef, how high was the market when the Dumb-O-Crats took over the house and senate? What was the DOW at when "The Boy Wonder" took over? Those who voted for this whatchamacallit wanted change. You got it!! Nothing but change left in your pocket now!! Guess what? Barry has the IRS buying a bunch of metal detectors to find that change in your pocket. He has to pay for the Gaza Strip Amusement Park somehow. Layoutshooter

chefdennis · Mar 2, 2009

Ok Layout here we go.

Election day (Nov. 4th) at the closing before the election results were in:

DOW: 9625

S&P: 1005

The Day AFTER the Election Nov.5th

DOW: 9139 Down 486

S&P: 952 Down 53

So since Barry has taken office the Dow is down 2862 points!! Pretty darn close to a 3000 point drop, if bush was in office this would all be his fault!! And the dow is down 252 points.....What a joke.....

Yea the market has been up for a day or so over the previous day a few times since Barry as taken the crown I mean the presidency, but the market has no confidence in Barry and his minions and this continous drop shows it.....No one in the financial markets think Barry has a grip on the bankster or the economy, well except those he surrounds himself with and the MSM, but you will get that when you keep "yes men" and or crooks around you.....

And to think that in july 2007 the DOW hit it all time high of 14,000.....LOL

If this continues, we will either be a total socialist state within 2 yrs or Barry will Crash and burn....

chefdennis · Mar 2, 2009

It is just going to keep getting worse based on history. I hope you're ready. It's going to keep going. There is no reason why the current downward dump won't continue. Take a look at the chart:

layoutshooter · Mar 2, 2009

Looks like it would make a great ski hill or waterslide. Layoutshooter

Pilgrim · Mar 2, 2009

Here's another look at Bear Market comparisons:

The chart below is a comparison of the current market to all previous bear markets — including figures through Feb. 23d.

http://www.ritholtz.com/blog/2009/02/bear-market-comparisons-1929-2009/
>

click for bigger chart

by JP Koning
http://www.financialgraphart.com/

This was done a week ago (Feb 23) and doesn't include the losses of the past week which have taken the line for 2009 below the 50% mark. The market is obviously not impressed with the idea of taking "change" and "hope" to the bank. Notice that the line for 2009 is actually steeper than the one for 1929 and would be at an even greater angle if the past week were factored in. Of course the main measurement in this graph is time, and there seems to be nothing coming out of Washington that would indicate we're near the bottom. Looking at some of the articles being written in the last couple of days about the incredible debt Obama and the democrat controlled congress is racking up, it appears that even the mainstream media is beginning to realize the enormity of our coming budget deficits. As we can see from the recent market activity, our people on Wall St. are way ahead of them.

chefdennis · Mar 3, 2009

Thanks for that chart Pilgram. I couldn't figure out how to make the chart in my post bigger. The one you posted shows the historical drops and how they continued. We are a ways away from the end of this. Sure the market will recover, but it is going to get alot worse before it gets better, and its recovery won't have a thing to do with "Turbo Tims" and Barrys ecomonic plans.........