Going down?
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Any predictions on where the Dow will end the day today? I pick 9850. Looks like the $1T Porkout was as big a waste as any suspected. Absolutely 0 impact on the Libor, and now the European Disunion is seeing banks collapse left and right...
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Any predictions on where the Dow will end the day today? I pick 9850. Looks like the $1T Porkout was as big a waste as any suspected. Absolutely 0 impact on the Libor, and now the European Disunion is seeing banks collapse left and right...
The cleverness of the bailout is that if the economy worsens, it will be argued that it would have been much worse otherwise. If it does get better, even well down the road, then that will be because of the bailout. Talked to a friend of mine over the weekend - she's the GM of a large Honda car dealership in western PA. On Saturday, her place sold one car. They are accustomed to selling a dozen or more. She had to let one saleman go last Friday and expects to let go 2 - 3 support personnel at the end of this week. At least the wooden arrow manufacturers are happy today.
Jon Smith & Wesson: The original point and click interface
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Any predictions on where the Dow will end the day today? I pick 9850. Looks like the $1T Porkout was as big a waste as any suspected. Absolutely 0 impact on the Libor, and now the European Disunion is seeing banks collapse left and right...
Have deliberately not looked for a while: too scared to pull my head out of the sand... :-) One of the BIG (really big as in huge) problems is that financial institutions no longer trust each other so you may find that counterparty A may ask counterparty b to front all the money for trades before they'll release anything but the other bank does not want to release those funds prior to the trades completing in case the other bank goes belly up with the cash (we're talking maybe hundreds of millions here, not just beer money). Oh dear: time to stock up on water and beans and buy that isolated cottage on the top of a hill...
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The cleverness of the bailout is that if the economy worsens, it will be argued that it would have been much worse otherwise. If it does get better, even well down the road, then that will be because of the bailout. Talked to a friend of mine over the weekend - she's the GM of a large Honda car dealership in western PA. On Saturday, her place sold one car. They are accustomed to selling a dozen or more. She had to let one saleman go last Friday and expects to let go 2 - 3 support personnel at the end of this week. At least the wooden arrow manufacturers are happy today.
Jon Smith & Wesson: The original point and click interface
Oakman wrote:
At least the wooden arrow manufacturers are happy today.
Actually, I think they might be running low on customers too. Tax breaks don't help if you cant borrow, can't sell...
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Any predictions on where the Dow will end the day today? I pick 9850. Looks like the $1T Porkout was as big a waste as any suspected. Absolutely 0 impact on the Libor, and now the European Disunion is seeing banks collapse left and right...
Didn't really expect my prediction to be reached in the first 90 minutes... 9850 by 10:45 EDT.
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Any predictions on where the Dow will end the day today? I pick 9850. Looks like the $1T Porkout was as big a waste as any suspected. Absolutely 0 impact on the Libor, and now the European Disunion is seeing banks collapse left and right...
Why don't they close the markets until people can start to think rationally again?
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Why don't they close the markets until people can start to think rationally again?
Because someone is still making money (or planning on making money) off of all this. Short sellers are making a killing for the moment, and those with a sufficiently long view see lots of bargains in the making. It's only those who panic and sell, and those that need their funds soon that are really hurt. Retirees, and those near retirement could have lost as much as 35% in the past year, OTOH anyone with cash to invest, will likely see a good return in a few years when it recovers (as it always does).
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Why don't they close the markets until people can start to think rationally again?
Le Centriste wrote:
Why don't they close the markets until people can start to think rationally again?
They had to close the Russian Market twice - or at least thought they had to. If the market drops, it's probably best to let it bottom out. Then the same herd mentality that took it down, will take it up. . . .I hope. Looks like Bush is going to replace Hoover in the history books.
Jon Smith & Wesson: The original point and click interface
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Le Centriste wrote:
Why don't they close the markets until people can start to think rationally again?
They had to close the Russian Market twice - or at least thought they had to. If the market drops, it's probably best to let it bottom out. Then the same herd mentality that took it down, will take it up. . . .I hope. Looks like Bush is going to replace Hoover in the history books.
Jon Smith & Wesson: The original point and click interface
Yeah, you are probably right. Well, let's wait and see.
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Any predictions on where the Dow will end the day today? I pick 9850. Looks like the $1T Porkout was as big a waste as any suspected. Absolutely 0 impact on the Libor, and now the European Disunion is seeing banks collapse left and right...
Rob Graham wrote:
pick 9850
That seems like a reasonable pick.
Rob Graham wrote:
Looks like the $1T Porkout was as big a waste as any suspected.
Yep. So now what? :rolleyes:
"The clue train passed his station without stopping." - John Simmons / outlaw programmer "Real programmers just throw a bunch of 1s and 0s at the computer to see what sticks" - Pete O'Hanlon "Not only do you continue to babble nonsense, you can't even correctly remember the nonsense you babbled just minutes ago." - Rob Graham
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Le Centriste wrote:
Why don't they close the markets until people can start to think rationally again?
They had to close the Russian Market twice - or at least thought they had to. If the market drops, it's probably best to let it bottom out. Then the same herd mentality that took it down, will take it up. . . .I hope. Looks like Bush is going to replace Hoover in the history books.
Jon Smith & Wesson: The original point and click interface
Conspiracy Theory Of The Day: It's a conspiracy to destroy the Russian economy, to punish it for its retaliation against Georgia. Putin's mafia is loosing a lot of money right now
Oakman wrote:
Looks like Bush is going to replace Hoover in the history books.
I think he will rather replace James Buchanan.
When they kick at your front door How you gonna come? With your hands on your head Or on the trigger of your gun?
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The cleverness of the bailout is that if the economy worsens, it will be argued that it would have been much worse otherwise. If it does get better, even well down the road, then that will be because of the bailout. Talked to a friend of mine over the weekend - she's the GM of a large Honda car dealership in western PA. On Saturday, her place sold one car. They are accustomed to selling a dozen or more. She had to let one saleman go last Friday and expects to let go 2 - 3 support personnel at the end of this week. At least the wooden arrow manufacturers are happy today.
Jon Smith & Wesson: The original point and click interface
Oakman wrote:
cleverness of the bailout is that if the economy worsens, it will be argued that it would have been much worse otherwise
The DJIA was doing pretty okay last Tuesday, and Wednesday, ahead of the second time around voting on it. As far as your friend in the car business, my wife just left Honda last month to go back in the medical field where she used to work. She's very happy she made that move.
"The clue train passed his station without stopping." - John Simmons / outlaw programmer "Real programmers just throw a bunch of 1s and 0s at the computer to see what sticks" - Pete O'Hanlon "Not only do you continue to babble nonsense, you can't even correctly remember the nonsense you babbled just minutes ago." - Rob Graham
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Any predictions on where the Dow will end the day today? I pick 9850. Looks like the $1T Porkout was as big a waste as any suspected. Absolutely 0 impact on the Libor, and now the European Disunion is seeing banks collapse left and right...
I called it already in my post about the MLEC.
“It is better to fail in originality than to succeed in imitation.”
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Le Centriste wrote:
Why don't they close the markets until people can start to think rationally again?
They had to close the Russian Market twice - or at least thought they had to. If the market drops, it's probably best to let it bottom out. Then the same herd mentality that took it down, will take it up. . . .I hope. Looks like Bush is going to replace Hoover in the history books.
Jon Smith & Wesson: The original point and click interface
Oakman wrote:
If the market drops, it's probably best to let it bottom out.
It could do that pretty soon looking at the turmoil there exists. But will it be an organised drop or will it just plummet into utter chaos and capitulation to whatever happens to be "rock bottom". When it reaches that point, presumably there will be optimism for a gradual sustainable recovery. But it is going to be painful both sides of the pond.
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Conspiracy Theory Of The Day: It's a conspiracy to destroy the Russian economy, to punish it for its retaliation against Georgia. Putin's mafia is loosing a lot of money right now
Oakman wrote:
Looks like Bush is going to replace Hoover in the history books.
I think he will rather replace James Buchanan.
When they kick at your front door How you gonna come? With your hands on your head Or on the trigger of your gun?
Having failed to persuade America to join the AGW bandwagon and sacrifice her economy in the noble interest of all things Green, Gore and his green banker buddies just destroy the economy to drive down oil consumption in order to save the planet;P [And actually, it seems to be working quite well... I expect panic pump stoppage in Saudi Arabia any day now]
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I called it already in my post about the MLEC.
“It is better to fail in originality than to succeed in imitation.”
Indeed you did. Any guesses as to how long to bottom?
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Indeed you did. Any guesses as to how long to bottom?
Rob Graham wrote:
Any guesses as to how long to bottom?
Nope, not a clue. All I know is that our credit department has been making margin calls all day long which is generally a bad sign. I suppose the herd mentality to sell might break after a few days - I'm hoping to see a halt and/or slight gains by Friday, but I'm not going to put money on it.
“It is better to fail in originality than to succeed in imitation.”
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Rob Graham wrote:
Any guesses as to how long to bottom?
Nope, not a clue. All I know is that our credit department has been making margin calls all day long which is generally a bad sign. I suppose the herd mentality to sell might break after a few days - I'm hoping to see a halt and/or slight gains by Friday, but I'm not going to put money on it.
“It is better to fail in originality than to succeed in imitation.”
Yeah, thats about my guess as well- no real light in this tunnel before next week, and maybe not then. Nothing fundamental has changed to justify a course change...
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Yeah, thats about my guess as well- no real light in this tunnel before next week, and maybe not then. Nothing fundamental has changed to justify a course change...
I suspect that the bargain hunters will step in soon and stop the fall. I mean, Apple under a hundred bucks? That's a deal! Google is also in the 300's and is ripe for picking. I'm sure there's lots of circling at the moment waiting for a bottom-out. If I had spare cash I'd be looking at several choice picks that were hard to get into in the very near future. As it is, my portfolio has taken a bit of a shit-kicking, but there will definitely be gains to be made.
“It is better to fail in originality than to succeed in imitation.”
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Any predictions on where the Dow will end the day today? I pick 9850. Looks like the $1T Porkout was as big a waste as any suspected. Absolutely 0 impact on the Libor, and now the European Disunion is seeing banks collapse left and right...
Who knows... I feel bad for older people who have retirement funds in the market. They are so f*ucked. But the Wall Street Execs will be OK. They can sell their worthless paper to the Fed.
I didn't get any requirements for the signature