Dow futures down 548 - Update
Submitted by RideTheDirt on Fri, 10/24/2008 - 03:48
http://money.cnn.com/data/premarket/
The nikkei got slaughtered, along w// the hang seng
http://money.cnn.com/data/world_markets/index.html
S&P 500 -60.00
NASDAQ -84.75
Dow Jones -548.00
Looks like we're in for a rough day!
Update - seems that the futures have hit their limits.
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I think the big crash will either come in
November after the elections or right after the failed X-Mas season where most companies are unable to replace inventory.
I'm not saying it won't today, but I think there is something bigger coming up soon.
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PPT Will Save the Day!
Shadow injection of 4 trillion after G20 and then they will siphon it back out after elections..
I agree they wont let it go
I agree they wont let it go too far before the election. Enough to keep us concerned but not letting it hit bottom.
I believe an 1,100 point drop
before 2:00 will stop trading for an hour, 2,200 for two hours, and 3,300 for the rest of the day.
I expect we could see the 1,100 circuit breaker reached. My guess is that there would be a rally well before 2,200 is reached, but then again nothing about the way the market is acting has really been easy to predict. Yes a lot of people here have said it would drop more, but how much it moves on a given day is hard to predict. No one claims to have any confidence in knowing where the bottom is. I don't either, but I will be watching at the opening bell to see just where this day is heading.
In theory there could even be a rally, but it looks like panic is going to drive the first couple hours of trading anyway.
The double short etf's are
The double short etf's are trading in pre-market. They are indicating an open at about -7.5%.
They would be down more...
Trading on futures was halted limit-down an hour or two ago. The market will open as scheduled. An 1100 point decline on the Dow would stop trading until some time in the afternoon or something. I forget the details.
My question is why is the
My question is why is the yen so much better. It too is fiat. It too has no real value and the country of Japan has very little to offer in terms of resources.
I see the current system failing. We can only hope that now we can go to a truely free market. One that is not controlled by the government, money that is not controlled by the government. A government that doesn't employ "usury" methods of slavery upon soveign people.
grant
The yen is rising because
The yen is rising because the yen carry trade is unwinding big time. It's a short squeeze.
Is that where investers/funds
borrowed the Yen because of the low usury rates and then converted to the currency of their choice? I think I get it? But wasn't the low rate on the Yen part of their attempt to revive their economy?
And now with all the implosions the borrowers are trying to pay back their loans. What a clusterf%#k!
You got it.
You got it.
Would that mean Sumitomo Bank
is smiling today? Would that be something I should be looking into? Would they be just as volatile?
I would say that
you are correct. The Yen is fiat. The only difference is that world oil resources have been traded with the dollar since the OPEC agreement in 1971. Therefore many more petro-dollars have been printed. As oil bourses begin to accept other currencies, the petro-dollars held in reserve by most countries will need or want to be spent. Dollars will race back to this country. This devalues the dollar, otherwise known as inflation. Add to this issue, the trillions of dollars worth of derivatives that are now being exposed for their worthlessness and you get what we are seeing in the markets. Just my two cents.
That's not at all what we
That's not at all what we are seeing right now. Right now, huge deflation. Everything is down, down, down, except the yen. I have a feeling that that could reverse and go into hyper-inflation, but what do I know. The system is oscillating out of control.
Yes I agree as to what is happening "now".
My post refers more to the end result of the insanity from a worst case point of view. We will have some insane fluctuations before this is all over with. I miss the good ole long term investments of the late 80's early 90's that just plugged along with growth. I have been making money with DUG but don't know how low oil will go. Has been good the last 45 days. This shit is making me think way too hard. Day trading unnerves me.
Is this going to be a day we remember?
The crash we've been seeing has sort of been a slow motion event up until this point. There's no one day where we could say the bottom dropped out of the market.
Maybe things will actually rebound at the opening bell, but there is a potential that panic selling will drive all the indicies to circuit breaker levels, which are much higher during the actual session. I forget the exact numbers, but they're big.
Plunge protection team will be
on full alert. The question is. "how long can they keep this up"? My guess would be until other countries lose all faith in the dollar. With the Yen at 93 to the dollar I would speculate we are getting close.
It's not the PPT. This is
It's not the PPT.
This is the time that a lot of hedge funds are open to redemptions. Money is fleeing, and the funds are forced to sell assets, which is equivalent to buying dollars. In fact, if the fund is in foreign currency denominated assets, they are forced actually to buy dollars. Dollar up.
I already explained why the yen is up.
Breaking News***
food freedom,one seed at a time.
Lehman's seeks Restrictions on trades of hedge funds-Bloomberg News
Rule 48?-not sure what this means.8:12AM CST
Russia's markets closed
until Tuesday.
Looks like all that bailout money
was just a parting gift for our corporate masters. Who ever thought that there would be catharsis in a depression.
Talking head on Bloomberg says "Markets will open TODAY!"
food freedom,one seed at a time.
She sounds scared to death. Libor is going back up.I think Rhino may have been right again.
Holy crap....... excuse my
Holy crap.......
excuse my language....but all of the daily futures limits have been reached.
Has that even ever happened before?
Dow down -550
S&P 500 -60
Nasdaq -82
S&P FUTURES LIMIT DOWN REACHED>>
food freedom,one seed at a time.
This was just reported on Bloomberg TV. What does this mean?
Dow also down limit.......trading reportedly suspended until 9:30 EST
WOW!
5:19 AM CST
Europe down 8-10%
food freedom,one seed at a time.
5:06CST
FTSE100 -8.62%
DAX -10.51%
CAC40 -8.12%
This is looking really bad. Yahoo finance home page.
European markets in freefall
http://www.news.com.au/business/story/0,27753,24548341-31037...
Nikkei down 811.90! UGLY!!!
Nikkei down 811.90! UGLY!!!
Circuit Breakers anyone? anyone?
and look at that dollar. It looks like the lambs are being set up to flee to cash and then - goodbye $USD !!
"The question is not who will let me- the question is who will stop me" - Ayn Rand
"The question is not who will let me- the question is who will stop me" - Ayn Rand