Dow Crash Coming To Your 401K (2007 to 2022)

[Neurotoxin]

GBers, right now every "rally" you see is pure short covering.

No new money is entering this market.


NT

[Bindare_Dundat]

[Neurotoxin]

GBers, right now every "rally" you see is pure short covering.

No new money is entering this market.


NT

U.S. stocks surged higher in the final moments of trade Thursday, with the Dow Jones Industrial Average wiping out a 150-point deficit to stage a triple digit rally.

typical volatility in a Bear market.


NT

[Neurotoxin]

The US trade deficit rose nearly six percent in July to 62.2 billion dollars on surging oil and Chinese imports, the Commerce Department said Thursday.

The July gap was wider than the consensus forecast for an increase to 58.0 billion dollars.




NT

[Neurotoxin]

GBers, today was your typical bear market trading day. market down 150, then up 150. lots of volatility and programmed trading. crazy market, for professionals only imo. 

anyway, since this thread started in Nov. 07 the market has performed as i expected. throughout the year we've rallied many, many times and the Dow is still 3,000 points LOWER. so until this trend changes, we don't. daily market fluctuations are to be expected as we patiently head lower. drip, drip, drip.

when the market finally turns positive, i'll be ready and waiting. 



NT

 

 

[Neurotoxin]

The credit crisis took a heavier toll on banks in the second quarter of the year: The number of troubled banks rose 30%, to 117, the highest in five years, from 90 in the first quarter, the Federal Deposit Insurance Corp. said.

The surge in the FDIC's "problem banks" comes as the industry grapples with ballooning bad consumer loans and shrinking profits. Historically, about one in eight banks on the problem list have eventually failed.

The FDIC also said that in the latest quarter, banks' profits plunged 87%, to $5 billion, compared with the same quarter a year ago.




NT

[Neurotoxin]

Fannie Mae (FNM) is now a penny stock, trading at 75 cents. That includes another 3.86% decline this morning (- 3 cents). Last October FNM was $67.39.


NT

[Neurotoxin]

Commerce Department: Retail sales fell 0.3% in August. Economists were anticipating gains of 0.2% to 0.4%.


NT

[Neurotoxin]

August foreclosures hit another record high
   

Foreclosures hit another record high in August: 304,000 homes were in default and 91,000 families lost their houses



NT

[Bindare_Dundat]

This is one hell of a ride.

[Bindare_Dundat]

The investment bank Lehman Brothers Holdings Inc. spent Thursday energetically shopping itself to potential buyers -- among them Bank of America Corp. -- just a day after insisting it had found a way to patch up its massive real-estate-related losses.

Given the firm's deep financial troubles, a deal of any sort is far from certain, according to people familiar with the situation. In addition, prospective buyers, which also could include Barclays PLC, would likely want the U.S. government to help shield them from future losses from any such transaction, these people said, as happened in March, when Bear Stearns Cos. was forced into a deal to be acquired by J.P. Morgan Chase & Co. In that deal, the federal government agreed to absorb as much as $29 billion in potential losses

The Federal Reserve and Treasury Department have been working with Lehman to help resolve the bank's troubles, including talking to potential buyers, according to people familiar with the matter. Federal officials currently aren't expected to structure a bailout along the lines of the Bear transaction or this past weekend's rescue of mortgage giants Fannie Mae and Freddie Mac.

Resolving the mess at Lehman could help stem a wave of pessimism that the U.S. financial system faces the prospect of much deeper turmoil because of bad loans and the weak economy. Late Thursday, Washington Mutual Inc. rushed out some details about its third-quarter results in hopes of ending a 34% slide in its stock price so far this week

[Neurotoxin]

WASHINGTON — The Federal Reserve Bank of New York held an emergency meeting Friday night with top Washington policymakers and major financial institutions to discuss the future of Lehman Brothers.

The meeting, which was attended by Treasury Secretary Henry Paulson, was held at the offices of New York Federal Reserve Bank president Timothy Geithner. The meeting was confirmed by Fed spokeswoman Michelle Smith.

Smith refused to disclose what financial institutions participated in the meeting or whether the group had reached any conclusion over how to resolve the crisis facing Lehman Brothers.




GBers, lehman traded at 64.00 per share in Feb. 2008, it now trades at 3.00 per share.

during the time period between Feb.08 - Sept 08, guess how many Wall Street analysts advised the public/small investor to SELL this stock ?

if you guessed ZERO, you'd be correct. institutions and insiders quickly dumped their shares, leaving the small investor holding worthless paper. to this very day, there are still no sell recommendations on lehman stock.




NT

[Bindare_Dundat]

Why would you listen to analysts?  Remember it's a game.  It may not be scrupulous, but it's not illegal.  Learn to play the game and you get to experience one of the best feeling in the world - taking money from people that are trying to steal from you.  Talk about an owning!

And don't forget that the market will turn before all the bad news is out, usually when things look the bleakest.  Don't get caught up in all the bearish sentiment.  Keep your eye on the trend and believe in it.  Charts don't lie.

ok, Bodi.

[Slapper]

How does a company lose 99% of it's value in less than a a year?

I mean, the only way I see it is that Lehman's stock was way overvalued and eventually the shareholders got a hold of the game that was being played with them and sold their shares. I believe that if a company is strong enough and really not weak it can survive these huge loses, like UBS and the like. It's the companies that had ZERO cash that are a mistery. How does something like this make it through the auditors or the risk management department?

It's the worst pyramid scheme I've ever seen in my life.

And to think I almost became a Lehman employee a couple of years ago...

[Neurotoxin]

 
Greenspan: This Is The Worst Economy I've Ever Seen  


Federal Reserve Chairman Alan Greenspan offered a woeful outlook of America's economic situation on Sunday, saying the crisis with the country's financial institutions was as dire as he had ever seen in his long career, and predicting that one or more of those institutions would likely collapse in the near future.

"Oh, by far," Greenspan said, when asked if the situation was the worst he had seen in his career. "There's no question that this is in the process of outstripping anything I've seen and it still is not resolved and still has a way to go and, indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes. That will induce a series of events around the globe which will stabilize the system."






NT

[calmus]

Greenspan thinks things are bad.... must be time to get back into equities.

[Bindare_Dundat]

Smith refused to disclose what financial institutions participated in the meeting or whether the group had reached any conclusion over how to resolve the crisis facing Lehman Brothers.

Attending the emergency session at the Federal Reserve Bank of New York were Treasury Secretary Henry M. Paulson Jr., Securities and Exchange Commission Chairman Christopher Cox and New York Fed President Timothy F. Geithner, federal officials confirmed. They were joined by chief executives including John Thain of Merrill Lynch, John Mack of Morgan Stanley, Lloyd Blankfein of Goldman Sachs, Jamie Dimon of J.P. Morgan Chase and Vikram Pandit of Citigroup, sources said.

[Neurotoxin]

U.S. Stock Futures Tumble on Concern Lehman to File Bankruptcy


Sept. 15  U.S. stock-index futures tumbled on concern a potential Lehman Brothers Holdings Inc. bankruptcy will add to banks' $514 billion of subprime-related losses.

Lehman, until last week the fourth-largest U.S. securities firm, is preparing a bankruptcy filing after takeover talks with Bank of America Corp. and Barclays collapsed, said a person with direct knowledge of the firm's plans.


NT

[stormshadow]

U.S. Stock Futures Tumble on Concern Lehman to File Bankruptcy


Sept. 15  U.S. stock-index futures tumbled on concern a potential Lehman Brothers Holdings Inc. bankruptcy will add to banks' $514 billion of subprime-related losses.

Lehman, until last week the fourth-largest U.S. securities firm, is preparing a bankruptcy filing after takeover talks with Bank of America Corp. and Barclays collapsed, said a person with direct knowledge of the firm's plans.


NT

NT, if they go bankrupt do you foresee a run on the banks?

[Neurotoxin]

NT, if they go bankrupt do you foresee a run on the banks?

on all banks ? no.

although bank/financial stocks will get PUNISHED when lehman files bankruptcy. (along with the overall market)


NT

[Neurotoxin]

GBers, STAY AWAY from this market. we continue to head lower IMO.

DO NOT listen to TerminalPutz or FatAlex23, they know absolutely nothing.


NT

[Neurotoxin]

GBers, do not be surprised if the Fed lowers interest rates (very soon) in an emergency move to save this imploding market.




NT

[Neurotoxin]

gbers, the enormity of our current banking problems are NOT being told to the public. i cannot stress this enough.

IMO, it's imperative you understand and stay out of harms way.


NT    

U.S. stock futures point to bruising open


Sept 16  U.S. stock futures pointed toward a bruising open Monday after a tumultuous weekend in which Lehman Brothers Holdings was forced into bankruptcy after failing to secure a buyout, Merrill Lynch reached a deal to sell itself to Bank of America for $50 billion and American International Group reportedly asked the Federal Reserve for $40 billion.







NT  

[boonasty]

neurotoxin how is the dollar up this morning?  how long can they keep up this manipulation if thats what is happening here?

[Benny B]

U.S. stock futures point to bruising open


Sept 16  U.S. stock futures pointed toward a bruising open Monday after a tumultuous weekend in which Lehman Brothers Holdings was forced into bankruptcy after failing to secure a buyout, Merrill Lynch reached a deal to sell itself to Bank of America for $50 billion and American International Group reportedly asked the Federal Reserve for $40 billion.




i had no idea things were this bad. 



NT 

There will likely be a decent sized rally at some point after the initial drop this morning. The smart investors with spare cash will seize on the bargains that will abound today. You simply have to have knowledge of what you're buying with a focus on fundamentals. Stay the heck away from financials and companies with any ties to the mortgage crisis. Days like this are the days to buy, while the panickers cash out.

Gold is a good play today, in my opinion.