Dow Close 7,552.29 down -444.99 -5.56% 11/20/08
Submitted by meekandmild on Thu, 11/20/2008 - 16:58
DOW Close 11/19/08 7,997.28 down -427.47 -5.07%
Previous Close 7,997.28 Volume 440.96 Mil
Open 7,995.53 52 Week High 13,780.11
Day's High 8,187.40 52 Week Low 7,882.51
Day's Low 7,507.60
Last hour looks like the PPT is working hard 11/21/08
7,820.78 up +268.49 +3.56% 1547 eastern, PPT trying hard to prop it up
Not only lost jobs and
lost consumer confidence, but also the selling season.
Now until the end of the year, people will be selling their losers in order to take advantage of the deduction.
So where do think the market will end up at years end...7000, 6000. 5000?
I'm thinking somewhere between 5000 and 6000.
I think
it will be between 5 & 6 too.
I cashed in my SPY puts today!! +szcwb's
Good day for me! To bad for the longs. Did I cash out one day too soon? I was in the black so I guess that's good. Next I'll sit and wait for a chance to short the dollar, buy calls on gold and puts on the long bond.
I'm a happy guy today.
Thanks all you guys at dailypaul! You REALLY help me out!
"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
dow loses 872.46
in 2 days 11/19/08 & 11/20/08 10.63%
Dow dropping = lost jobs
It does hurt most everybody. One might not be invested, but their company is publicly traded and jobs are being cut due to low stock prices. Lost jobs = system strain which also effects everybody. The CA unemployment compensation fund is running dry. How do they fund it? Layoff people and raise taxes. It's a death spiral.....
The great depression
part II ?
are they throwing a tantrum
because they didn't get their car bailout?
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“The Roots of Violence: Wealth without work, Pleasure without conscience, Knowledge without character, Commerce without morality, Science without humanity, Worship without sacrific
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"The essence of freedom is the proper limitation of government". ~ Founding Fathers
Could be
I remember how they were manipulating the market to get their bailout money too.
"It's just one big Club - and WE ain't in it"
"Tyrants fear nothing more than insubordination"
"It's just one big club... and WE ain't in it!"
lol yeah
this is just amazing really. and the majority of the every day investor folk thought 8k was the bottom.
if i had some spare cash to gamble id buy big tomorrow early and sell off by the end of the day. big short cover tomorrow.
this is quite a significant breach though, and about on par with what the worst of the worst have been predicting for a while now. this roller coaster ride has plenty of gains and dips to go through into q1 of next year before id imagine wed see any glimmer of hope of some sanity/stability.
That's what I'm going to try
That's what I'm going to try to do. Of course I covered my shorts yesterday, shows how much I know... bleh.
"The sinews of war are infinite money" ~ Cicero
"The sinews of war are infinite money" ~ Marcus Tullius Cicero
How low will it go?
PPT isn't working today?
PLUNGE
PROFITING TEAM!!! Remember, this is a transfer of wealth and those manipulating the market make fortunes. Plunge protection my ass.
beephree
Maybe PPT cannot buck
Maybe PPT cannot buck overwhelming downward trends.
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