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

[Neurotoxin]

GBers, the enormity of our current banking problems are NOT being told to the public.
 

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

[Benny B]

Could be a very rough Friday.

Due to McCain's derailing of the Rescue Plan (for his own political gain), you may be right.

[Neurotoxin]

market's virtually on hold, waiting for bailout announcement.



NT

[Benny B]

market's virtually on hold, waiting for bailout announcement.


NT

Yeah, NT. 

I think the equity markets are really already assuming a deal will get done. I'm no expert on the credit markets, but from what I understand there is still broad skepticism there. The rate in which banks loan to other banks, the interest rate the federal gov't gets on loans, etc., will help let us know how receptive the market is to any type of rescue plan. In other words, very short term investments like t-bills.

[Neurotoxin]

Yeah, NT. 

I think the equity markets are really already assuming a deal will get done. I'm no expert on the credit markets, but from what I understand there is still broad skepticism there. The rate in which banks loan to other banks, the interest rate the federal gov't gets on loans, etc., will help let us know how receptive the market is to any type of rescue plan. In other words, very short term investments like t-bills.

correct, that's why you had some late afternoon short covering before the weekend. Dow was up 121.00 points on light volume. your point on skepticism is dead on. too much uncertainty surrounds this bailout, with too many unanswered questions.

furthermore, this bailout will not change the underlying fundamentals of our weak economy.

that aside, i still expect a short cover rally after the announcement.


NT

[Eyeball Chambers]

Would it be a good or bad idea to buy a bunch of these bank stocks while they're around $2.00 a share? 

[Neurotoxin]

Would it be a good or bad idea to buy a bunch of these bank stocks while they're around $2.00 a share? 

personally, i like the longterm prospects of AIG. ( 80% of Co. is now owned by the Fed.)

a 75.00 stock now trading in the 3.00 range. 


no advice, all opinion.


NT

[Neurotoxin]

IMO, avoid Wachovia.

anyone using a Wachovia bank, should be careful with their deposits.


NT

[Bindare_Dundat]

[Bindare_Dundat]

NT, I would like your opinion on this persons outlook on the bailout.

[Neurotoxin]

BD, there is no good answer to this bailout crisis.

complete inaction = depression.

700 Billion bailout = deep recession.


pick your poison.


NT

[The Luke]

NT,

Is it time to go radical and simply do away with stock markets altogether?

They don't actually PRODUCE anything other than speculation.

Is it time for a Bolivian style common man revolution...?

How bad does it have to get before we have wealth redistribution and debt dissolution at the end of a gun barrel?


The Luke

[Neurotoxin]

GBers, as you know the Fed recently stopped shorts selling in 799 financial firms. yesterday, GM, GE and American Express was added to the anti-shorting list. in addition, the fed is now looking into "oil speculators," with the intent to drive oil prices lower.

all the above measures (combined with the 700 billion bailout) are a desperate attempt designed to rally the market higher.

as i've stated before, if we hold the Dow low of 10,470.00, i'd expect a nice short cover rally.

   

GBers, imo any "rally" off the bailout will probably be short lived. my opinion on the above post remains unchanged.

be careful.


NT

[Neurotoxin]

 
Bailout Package Fails As Dow Plunges

In an extraordinary gamble on the future of the global economy, the House of Representatives voted down the $700 billion Wall Street bill 205-228, as Republicans defied their president, their presidential nominee and their leaders to vote nearly two to one against the measure described as crucial to the prevention of an economic collapse.


NT

[Neurotoxin]

there is no good answer to this bailout crisis.

complete inaction = depression.

700 Billion bailout = deep recession.


pick your poison.


NT

[Decker]

So far the market's down 622 today.  It might be raining brokers soon. 

[TerminalPower]

So far the market's down 622 today.  It might be raining brokers soon. 

HAHA!  Nice one. 

Brokers are funny people most are pretty ignorant, I love mine and he has made me more money than I ever thought.  One of the smartest guys I know, but if he will tell you the same thing about himself lol.

[Neurotoxin]

Stocks, Oil Plunge After Congress Rejects Bailout


 Sept. 29  U.S. stocks plunged 777 points and oil plunged and Treasury bonds rallied the most in two weeks after U.S. lawmakers rejected the Bush administration's $700 billion financial rescue.

The Standard & Poor's 500 Index fell as much as 7.2 percent, the most since Oct. 26, 1987, as 490 companies declined. The MSCI World Index of 23 developed markets sank 5.9 percent, the steepest decline in the measure's 38-year history. Trading on Brazil's Bovespa was halted after the main stock index plummeted 10 percent. The euro and the pound sank and bonds rose as governments raced to prop up banks infected by growing U.S. mortgage losses. Crude futures tumbled more than $11 a barrel.

``This was sold as the last straw, the thing that was going to fix everything and it looked like it was going to pass,'' said Walter ``Bucky'' Hellwig, who helps oversee $30 billion at Morgan Asset Management in Birmingham, Alabama. ``There's disappointment that we have this continued stress in the financial sector.''




imo congress is playing with fire.

they might want to reconsider.

 

NT

[Decker]

HAHA!  Nice one. 

Brokers are funny people most are pretty ignorant, I love mine and he has made me more money than I ever thought.  One of the smartest guys I know, but if he will tell you the same thing about himself lol.

I work with a lot of brokers in my line of work and you're right, some are pretty bad and some are good but almost all are arrogant....it's a comptetitive field.

I remember Black Monday/Tuesday and brokers taking the cold way out just b/c they lost money.  That I don't understand.

[Hugo Chavez]

My stock picks from earlier this year on investopedia are still doing good. 30% return after today's huge fall.

[Neurotoxin]

bush has systematically destroyed this country financially.

our country is heading for a severe recession as a result of his failed policies.

in the coming months, the stock market will come crashing down.


mark my words.

[Neurotoxin]

My stock picks from earlier this year on investopedia are still doing good. 30% return after today's huge fall.

good job HC, start using "live rounds" 



NT

[Hugo Chavez]

Is this fair to say?  The fall didn't start after, it started right away this morning before the bill was rejected.  I'm getting the feeling it would have done the same today either way.  People are saying we're fucked if it passes and people are saying we're fucked if it doesn't.  Is it then right to relate today to the bill not passing? 

Stocks tumble as bailout plan fails in House. "Fear sweeps through financial markets after the House rejects a $700 billion bailout plan."
http://news.yahoo.com/s/ap/wall_street

[Neurotoxin]

Is this fair to say?  The fall didn't start after, it started right away this morning before the bill was rejected.  I'm getting the feeling it would have done the same today either way.  People are saying we're fucked if it passes and people are saying we're fucked if it doesn't.  Is it then right to relate today to the bill not passing? 

Stocks tumble as bailout plan fails in House. "Fear sweeps through financial markets after the House rejects a $700 billion bailout plan."
http://news.yahoo.com/s/ap/wall_street

yes you're correct. 2 banks failed across the pond resulting in a 4.5 % selloff overseas.

that's how the day started....


NT

[Neurotoxin]

January 19, 2001: 10,587.59
September 29, 2008: 10,365.45

NASDAQ Jan 19, 2001 = 2770.38
NASDAQ September 29, 2008 = 1983.73




NT