The stock market tomorrow up or down?

[Pliablemoose]

Took a 250 point hit Friday on the job numbers.

Leave a comment.

I think we're headed towards another 10% correction. Double bottom to test support FTL.

 

[RichUK]

Down

 

[Pliablemoose]

Originally posted by: RichUK
Down

Sorry, hung over Brit BMW drivers aren't allowed to vote son.

FAIL!

 

[RichUK]

Originally posted by: Pliablemoose

Originally posted by: RichUK
Down

Sorry, hung over Brit BMW drivers aren't allowed to vote son.

FAIL!

 

[Jhill]

Probably be a crash tomorrow. Down 8-10% 3 -4 hours after the opening bell.

 

[Pliablemoose]

Reasons I think it'll take another hit:

The Fed is waffling about a rate cut (I'm thinking a 1% cut would stabilize the market, but I don't think they should do it, personally, the Fed's mandate is to "Ensure that enough money and credit are available to sustain economic growth without inflation.") Regardless of what Kramer says...

The Fed & European Central Bank made 90 billion available to banks to ensure liquidity on Thursday prior to the jobs # coming out.

The financial sector's problems aren't limited strictly to the financial sector, or to the US economy, and it's going to take a few months for the subprime fiasco to work it's way through the system. Who didn't see that coming BTW? With the interest only notes & all the flipping infomercials & programs on TV? People that had no business playing with that many zeros were doing so on pure speculation & greed. Not that greed is a bad thing, but stupid greed is...

Another thing that concerns me is personal credit, and in my humble opinion is the thing that's going to throw us into recession, people have been doing app-o-ramas with CC companies, and dicking around with HELOC's on the only "investment" they own.

I think Christmas sales are going to suck majorly too...

 

[Pliablemoose]

The Nikkei 225 average (JP:1804610: news, chart, profile) tumbled 2.9%

Australia's S&P/ASX 200 declined 1.8% to 6,163.30, New Zealand's NZX 50 index lost 0.6% at 4,125.20 and South Korea's Kospi (XX:1807211: news, chart, profile) skidded 2.9% to 1,829.45.

Marketwatch

 

[vi edit]

With less than an hour left, it's been a pretty flat day.

 

[FoBoT]

so i guess my wild guess voting for sideways was correct? luck me

i need to pay down some debt, thanks OP for scaring me!

 

[sciencewhiz]

Originally posted by: Pliablemoose
Reasons I think it'll take another hit:

The Fed is waffling about a rate cut (I'm thinking a 1% cut would stabilize the market, but I don't think they should do it, personally, the Fed's mandate is to "Ensure that enough money and credit are available to sustain economic growth without inflation.") Regardless of what Kramer says...

1% is a HUGE drop. It hasn't dropped more then .5% since 1990 (the earliest data I could find easily). 0.25% is the most anyone can realistically expect.

 

[residualsquare]

Originally posted by: sciencewhiz

Originally posted by: Pliablemoose
Reasons I think it'll take another hit:

The Fed is waffling about a rate cut (I'm thinking a 1% cut would stabilize the market, but I don't think they should do it, personally, the Fed's mandate is to "Ensure that enough money and credit are available to sustain economic growth without inflation.") Regardless of what Kramer says...

1% is a HUGE drop. It hasn't dropped more then .5% since 1990 (the earliest data I could find easily). 0.25% is the most anyone can realistically expect.

Haha, if by "stabilize the market" you mean "send our currency value into an unhindered free fall." 1% rate cut = instant hyperinflation.

 

[LegendKiller]

Originally posted by: residualsquare

Originally posted by: sciencewhiz

Originally posted by: Pliablemoose
Reasons I think it'll take another hit:

The Fed is waffling about a rate cut (I'm thinking a 1% cut would stabilize the market, but I don't think they should do it, personally, the Fed's mandate is to "Ensure that enough money and credit are available to sustain economic growth without inflation.") Regardless of what Kramer says...

1% is a HUGE drop. It hasn't dropped more then .5% since 1990 (the earliest data I could find easily). 0.25% is the most anyone can realistically expect.

Haha, if by "stabilize the market" you mean "send our currency value into an unhindered free fall." 1% rate cut = instant hyperinflation.

Agreed. It's pretty clear that a rate cut is only in the financial market's best interest. It'll kill your average joe. Apparently the forware curves have 100% certainty of 1% cut by December. lol.

As has been said before, cutting rates in this environment is akin to giving liquer to a drunk to cure a hangover.

 

[JS80]

Originally posted by: LegendKiller

Originally posted by: residualsquare

Originally posted by: sciencewhiz

Originally posted by: Pliablemoose
Reasons I think it'll take another hit:

The Fed is waffling about a rate cut (I'm thinking a 1% cut would stabilize the market, but I don't think they should do it, personally, the Fed's mandate is to "Ensure that enough money and credit are available to sustain economic growth without inflation.") Regardless of what Kramer says...

1% is a HUGE drop. It hasn't dropped more then .5% since 1990 (the earliest data I could find easily). 0.25% is the most anyone can realistically expect.

Haha, if by "stabilize the market" you mean "send our currency value into an unhindered free fall." 1% rate cut = instant hyperinflation.

Agreed. It's pretty clear that a rate cut is only in the financial market's best interest. It'll kill your average joe. Apparently the forware curves have 100% certainty of 1% cut by December. lol.

As has been said before, cutting rates in this environment is akin to giving liquer to a drunk to cure a hangover.

heh i love that ugly yield curve.

let's hope bernanke is as academic as he claims