Dow falls below 10,000

**gornyhuy** · 10-06-2008, 06:46 AM

Welcome to 1997? When was the last time it was this low?

**emjay** · 10-06-2008, 07:02 AM

Originally posted by gornyhuy

Welcome to 1997? When was the last time it was this low?

4 years ago.

UK down 8% today. 10% is a crash.

**brassmonkey** · 10-06-2008, 07:03 AM

damn im taking my cash out of the bank

**tony286** · 10-06-2008, 07:04 AM

Originally posted by brassmonkey

damn im taking my cash out of the bank

why are you doing that?

**stickyfingerz** · 10-06-2008, 07:07 AM

Originally posted by brassmonkey

damn im taking my cash out of the bank

Thats a good reason for the crash right there. Bunch of people getting scared and pulling out all their cash. Then they banks don't have money to loan out to others.

**Vendot** · 10-06-2008, 07:11 AM

Well fuck me with a fiddle stick.

People are really panicked...... I should hide behind the door with a blown up paper bag.

**emjay** · 10-06-2008, 07:21 AM

Originally posted by stickyfingerz

Thats a good reason for the crash right there. Bunch of people getting scared and pulling out all their cash. Then they banks don't have money to loan out to others.

Beacuse of the Government guarantees, savers in UK are now flocking to the bank which last year had people queing to get their money out, Northern Rock.

Funny old world...

**emjay** · 10-06-2008, 07:52 AM

Originally posted by Jesus H Christ

The mornings 10% (or more) club:

Russia: 19.2 plus they suspended trading for the 3x this month.
Brazil: 15%
Austria: 11%
Mexico: 10%
Indonesia: 10%

Jesus H Christ, Jesus H Christ lol

**chuvii** · 10-06-2008, 09:40 AM

it's panic times and will become only worse... and why - cause some idiots taken alot of cheap loans

**pornguy** · 10-06-2008, 09:53 AM

Originally posted by stickyfingerz

Thats a good reason for the crash right there. Bunch of people getting scared and pulling out all their cash. Then they banks don't have money to loan out to others.

you aint kidding.

I have been lucky with the Credit Union that I use. they are showing record profits this year and growing.

They stayed stiff on lending. and it is paying off.

**Martin** · 10-06-2008, 10:03 AM

You should hear Alex Jones going nuts on his radio show about this.

**mynameisjim** · 10-06-2008, 10:13 AM

I'm pulling all my money out of the market and investing in Star Wars memorabilia.

But whatever happens, thank God they passed that bailout bill so fast and prevented a huge drop in the world's financial markets. ;)

**_Richard_** · 10-06-2008, 10:17 AM

think tsx is down 8%

**qxm** · 10-06-2008, 10:20 AM

good G-D!!!!!!!!!!!!! I thought u guys were shitting me......... dammmm........... -650 right now..... the ship is certainly sinking

**borked** · 10-06-2008, 10:33 AM

Originally posted by emjay

4 years ago.

UK down 8% today. 10% is a crash.

There's no numerical value that determines "a crash" but many consecutive days of large drops. Keep this up all week, and thurs/fri yeah it'll be a crash.

In 12 months, all markets have been declining, resulting in wiping 25% off FTSE, 30% off DJ, 32% off CAC40, 50% off Nasdaq.

Brown, Sarko and tits didn't help with their procrastinating at the weekend

Quite interesting though that all indices now have internal breaks for stopping an all-out crash in a single day. All that doe is prolong the downward spiral keeping things as simply a "credit crunch" thereby stopping any type of rally!

1987 here we come, but hey every cloud has a silver lining.... pick stocks in stuff that are relatively immune from market dropoffs and invest, cos they're all at 2-4 year lows. It'll all come back if the company can stay afloat.

**gornyhuy** · 10-06-2008, 10:44 AM

Exactly, there is a huge buying opportunity in here sometime soon. I'm thinking late December or first of the year. Just max out the retirement plan at the end of the year = buy low and minimize tax hit.

**yys** · 10-06-2008, 11:00 AM

The lemmings are really jumping today.

**farkedup** · 10-06-2008, 11:04 AM

I'm going to just convert all my US cash to a DIFFERENT currency and keep put it in my pillow.... fuck the banks... US currency will be worth less than a roll of Charmin in no time.

**xmas13** · 10-06-2008, 11:10 AM

http://forecast-chart.com/historical-cac-40.html

CAC 40 Stock Index - 17 Year Graph (France)

**borked** · 10-06-2008, 11:38 AM

Originally posted by xmas13

http://forecast-chart.com/historical-cac-40.html

CAC 40 Stock Index - 17 Year Graph (France)

that's what's great about moving averages - they iron out the minor blips

Dow Jones Industrial 100 year

A crash is just a short-term word. Like forest fires - a natural occurrence that allows the land to be cleared to allow new growth. In the long term, the forest grows back just as dense and more importantly with hardier wood stock.

**Vendot** · 10-06-2008, 11:40 AM

Originally posted by farkedup

I'm going to just convert all my US cash to a DIFFERENT currency and keep put it in my pillow.... fuck the banks... US currency will be worth less than a roll of Charmin in no time.

Good call......... what currency though?

**Intervader** · 10-06-2008, 11:54 AM

[QUOTE=mynameisjim;14860340]I'm pulling all my money out of the market and investing in Star Wars memorabilia. QUOTE]

Hahaha

**farkedup** · 10-06-2008, 12:21 PM

Originally posted by Vendot

Good call......... what currency though?

At the way the Euro is working it'll be the worldwide currency in not time LOL but I'm not sure what currency I'd switch to considering what a PITA it is to convert back to US when I NEED cash.

The safest bet is things like gold and diamonds since they are accepted internationally like currency.

**theharvman** · 10-06-2008, 12:21 PM

bad day... it was a bad day.

**Wang Dong** · 10-06-2008, 12:26 PM

this week is going to be interesting

**Almost Evil** · 10-06-2008, 12:27 PM

good thing they had that $700B bailout...the stock market seems to appreciate it

**WarChild** · 10-06-2008, 12:29 PM

Originally posted by farkedup

I'm going to just convert all my US cash to a DIFFERENT currency and keep put it in my pillow.... fuck the banks... US currency will be worth less than a roll of Charmin in no time.

US currency up against everything today. Look around before you start to panic.

**notime** · 10-06-2008, 01:19 PM

Originally posted by WarChild

US currency up against everything today. Look around before you start to panic.

Dollar is doing really excellent and going up ! Good news

**HomerSimpson** · 10-06-2008, 02:29 PM

where's the end of all this...

**Kudles** · 10-07-2008, 10:16 AM

Your making me sad

**emjay** · 10-10-2008, 10:35 AM

Originally posted by HomerSimpson

where's the end of all this...

when the Dow gets to zero lol

Dow falls below 10,000

Dow falls below 10,000

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