How low can/will it go?

[RightIsWrong]

Well, another day another 200+ point drop. With the Dow down to the mid 11k's, I ask all ATOTers to take off their expert Technology/Science/Medical/Mac Daddy hats and throw on your financial sector guru topper.

Will the Dow sink below 10k before the elections in November? I'm kind of thinking that they will based on projections that oil could hit $170/barrel over the summer, Libya is talking about cutting their production and the midwest flooding putting a lot of farmers and other food producers under water.

What say you?

 

[JS80]

Expect a shoe drop in the coming weeks

 

[Jeff7181]

I say energy stocks are where it's at.

 

[ViviTheMage]

water, BUY IT ALL!!

 

[thegimp03]

Each day I get more and more afraid to check out how it's doing. Of course, today didn't help opening up Yahoo Finance and seeing the DJI down 220 points.

 

[DainBramaged]

I bought a pound of gold this morning.

 

[wwswimming]

eventually people will figure out that what is keeping the GNP numbers
up is oil and gasoline sales.

take out liquid fuel and natural gas and electricity, normalize units of
measure so the numbers reflect how much stuff is actually sold, and
it becomes obvious that the economy is in a significant state of contraction.
i.e. people are buying less stuff, not more, even though the GNP number
goes up.

http://www.shadowstats.com/
^ one place that takes a stab at reporting accurate econ. numbers. i
would like to find some more websites like it. no sky is falling hysteria,
just an attempt to make sense of the econ. stats.

i don't think the shoe will drop till Israel/the US attack Iran. the government
likes it when we blame our problems on Muslim terrorists. they will want
us to blame Them Damn Iranians for a stock market drop, so they can
keep their GWOT charade going.

 

[RightIsWrong]

Well....two minutes before close and it just bounced "back up" to -341 from -350.

And here I thought that it might take a few months to get near 10k. At this rate, we might see it early next week.

 

[RightIsWrong]

Closing bell....dropped like a lead balloon.

Final tally -3.01% (355pts) to 11456.19. Now for the after hours fun. I'm guessing it is going even lower as a lot of investors will want out of positions that they see dropping more or they just don't want to hold come AM.

 

[Capt Caveman]

Originally posted by: RightIsWrong
Closing bell....dropped like a lead balloon.

Final tally -3.01% (355pts) to 11456.19. Now for the after hours fun. I'm guessing it is going even lower as a lot of investors will want out of positions that they see dropping more or they just don't want to hold come AM.

Or it's a good buying opportunity.

 

[Epic Fail]

Originally posted by: ViviTheMage
water, BUY IT ALL!!

You are late to the game.

 

[mshan]

I remember reading that some of these previous violent sell-offs were due to global margin calls of some sort.

Is that what is going on here again?

 

[sjwaste]

Originally posted by: RightIsWrong
Well, another day another 200+ point drop. With the Dow down to the mid 11k's, I ask all ATOTers to take off their expert Technology/Science/Medical/Mac Daddy hats and throw on your financial sector guru topper.

Will the Dow sink below 10k before the elections in November? I'm kind of thinking that they will based on projections that oil could hit $170/barrel over the summer, Libya is talking about cutting their production and the midwest flooding putting a lot of farmers and other food producers under water.

What say you?

I've got an idea. It has some holes in it, but it'd be fun to discuss here.

If places like Libya want to talk about cutting oil production while we face increasing oil prices, why not form our own cartel, of net food exporters. Then, let's cut exports to OPEC and redirect it to non-members who also happen to be hard hit by rising food prices.

I'm sure with all that oil money from $170 oil, they can figure out how to grow their own food, right there in the desert.

 

[sjwaste]

Originally posted by: Capt Caveman

Originally posted by: RightIsWrong
Closing bell....dropped like a lead balloon.

Final tally -3.01% (355pts) to 11456.19. Now for the after hours fun. I'm guessing it is going even lower as a lot of investors will want out of positions that they see dropping more or they just don't want to hold come AM.

Or it's a good buying opportunity.

 

[darkxshade]

Man with the market tanking the way it is, a lot of stocks look so attractive with their 10 year lows but I'm afraid to buy in case it tanks more.

 

[vi edit]

Sounds like a good time to just keep throwing money by the bucketfuls into our index fund based 401k accounts.

 

[AccruedExpenditure]

There are a lot of good buying opps but I think we have some ways to go before we're out of the forest. Buy strong stocks that have been unduly punished
-AE

 

[Mark R]

Originally posted by: darkxshade
Man with the market tanking the way it is, a lot of stocks look so attractive with their 10 year lows but I'm afraid to buy in case it tanks more.

Cheap doesn't necessarily mean good value.

If you read some of the more doomster forums, you'll find all sorts of horror stories - Alt-A, catastrophic inflation, weakening of the $, rising oil, energy and material prices.

Heck, if it wasn't for miners and big oil propping up the stockmarket, the indices would be ton lower. The FTSE100 is only down about 20% from peak - but strip out big oil and mining and it's down nearly 50%.

 

[Special K]

Originally posted by: sjwaste

Originally posted by: Capt Caveman

Originally posted by: RightIsWrong
Closing bell....dropped like a lead balloon.

Final tally -3.01% (355pts) to 11456.19. Now for the after hours fun. I'm guessing it is going even lower as a lot of investors will want out of positions that they see dropping more or they just don't want to hold come AM.

Or it's a good buying opportunity.

Catch a falling knife?

 

[Schfifty Five]

We are fucked.

 

[Aikouka]

Even Dow Jones likes a ~Limbo Beach Party~ .

 

[dmcowen674]

Originally posted by: RightIsWrong
Topic Title: How low can/will it go?
Topic Summary: Dow Jones getting hammered again!

What say you?

Can't go low enough

 

[Jeff7181]

Don't forget, a stock or index does not have to increase in price in order to make money by trading it.

 

[her209]

It could go to 0. That's the lowest it can go.

 

[GTaudiophile]

The Greater Depression people... 1 in 4 will be unemployed within 2 years...