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Black Wednesday 2008?

What's on your mind?
General interest discussions, not necessarily related to depletion.

Re: Black Tuesday 2008?

Unread postby jupiters_release » Tue 22 Jan 2008, 14:05:11

$this->bbcode_second_pass_quote('jdumars', 'I') told ya... t'aint gonna happen.


It's certainly all fixed. Only TPTB know when they'll reign in the PPT and crash the market, which will probably be when the most people least expect it.
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Re: Black Tuesday 2008?

Unread postby Atlantean_Relic » Tue 22 Jan 2008, 14:11:44

Well, I say this Tuesday is turning into a dud, how about we try again next Tuesday?
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Re: Black Tuesday 2008?

Unread postby Plantagenet » Tue 22 Jan 2008, 14:13:25

$this->bbcode_second_pass_quote('big_rc', '
')Bush is working damn hard right now not to keep the economy going down the tubes on his watch. I feel for the next president. He/she will have hell to pay and possibly a depression to manage due to the moves being played out right now.


Thats how it always is. Clinton punted on dealing with terrorists and on fixing the economy and so the economy started tanking in 2000 at the end of the Clinton administration and then 9/11 happened. Now Bush is going to try as hard as he can to push all the problems off for a year. Its standard operating procedure. :-D
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Re: Black Tuesday 2008?

Unread postby bodigami » Tue 22 Jan 2008, 20:18:57

$this->bbcode_second_pass_quote('spear', 'I') cant see how this wont affect everyone.All I keep thinking is gas prices going up,food prices going up.
Very bad.Very bad.


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Re: Black Tuesday 2008?

Unread postby spear » Tue 22 Jan 2008, 20:29:23

It's certainly all fixed. Only TPTB know when they'll reign in the PPT and crash the market, which will probably be when the most people least expect it.[/quote]

the most people least expect it now.
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Re: Black Tuesday 2008?

Unread postby Daculling » Tue 22 Jan 2008, 20:33:48

$this->bbcode_second_pass_quote('Plantagenet', 'I')ts standard operating procedure. :-D


One new leader of his country found on his desk two letters from his predecessor, numbered 1 and 2 and to be opened in the case of the first emergency and the second. Well, the first emergency happened. The new leader opened the first envelope and the letter said, “blame me.” He did; his people bought it. Life went on. A year later another emergency hit. He opened the second envelope and the letter said, “now sit down and write two letters.

:)
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Re: Black Tuesday 2008?

Unread postby mmasters » Tue 22 Jan 2008, 21:37:54

$this->bbcode_second_pass_quote('perdition79', '')$this->bbcode_second_pass_quote('I_Like_Plants', 'B')ut a rate cut won't fix it. May relieve things for oh...... 3 hours?


Absolutely right. Even 100 basis points across the board at 9:30 AM wouldn't help. Bond ratings have been cut, more collateral is needed, banks won't lend money as generously as they have a couple years back. No government-sponsored free money "stimulus package" will work. Asian markets are down 5 percent again today!! This economy is toast.

I go to bed at 4 AM eastern time; when I wake up at noon I expect either violent rioting or bread lines.

Uh huh :wink:
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Re: Black Tuesday 2008?

Unread postby PenultimateManStanding » Tue 22 Jan 2008, 22:42:58

$this->bbcode_second_pass_quote('Tyler_JC', 'I') shorted the market big time with my UpDown fantasy stock market account.

I've lost more than 5% in one day.

:lol:
This is something that puzzles me.

$this->bbcode_second_pass_quote('wiki', 'I')n finance, short selling or "shorting" is the practice of selling financial securities the seller does not then own, in the hope of repurchasing them later at a lower price. This is done in an attempt to profit from an expected decline in price of a security, such as a stock or a bond, in contrast to the ordinary investment practice, where an investor "goes long," purchasing a security in the hope the price will rise.


So if the market goes down, it seems one would profit. Can anyone explain this to me? If you sell the market short, it would seem then that any fall, even a little one, should net you a profit at the end of the day. I don't know a whole lot more about this stuff than I learned in that old Dan Akroyd movie Trading Places. (great flick, btw). Maybe what I'm missing is that you offer to sell at a price lower than the current prices in expectation that the price will fall even more than that. Then, when the prices fall below your selling price you buy to cover your position and make a profit. If this is right, then it seems one could have made a bundle today by selling short right at the start today and then cashing out, say, 40 minutes later.
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Re: Black Tuesday 2008?

Unread postby clammm » Tue 22 Jan 2008, 23:05:06

Forget about it, you can't even make money going long. there is no timing this market when the big boys step in and blow the party just when you start to get rich...

Like today, would have been perfect to short,,, except,,, it didnt go down that far, did it?
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Re: Black Tuesday 2008?

Unread postby PenultimateManStanding » Tue 22 Jan 2008, 23:09:30

$this->bbcode_second_pass_quote('clammm', ' ')it didnt go down that far, did it?
well, as I said in editing that last post. You bet on a large plunge, say 450 points for the DJIA, then not get too greedy and cash out quickly. I'm not up to speed on the calculations because I haven't studied it, but I would think that doing what I outlined would have made a lot of money.
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Re: Black Wednesday 2008?

Unread postby Bas » Wed 23 Jan 2008, 10:22:58

Slowly but surely the European indexes have amounted losses of between 3 and 4% again today, which are big losses in almost any circumstance; S&P futures indicate a loss of 2.5% while Nasdaq futures are down 3.5%

correction: within a blink of an eye all the European indexes are now down 4.5% S&P futures 3.5%
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Re: Black Wednesday 2008?

Unread postby DoubleD » Wed 23 Jan 2008, 11:17:17

I think yesterday's little rally after the rate cut announcement will only amount to a dead cat bounce. Just a blip up on the rollercoaster ride down.
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Re: Black Wednesday 2008?

Unread postby Atlantean_Relic » Wed 23 Jan 2008, 11:21:01

So will today be dead hump day?
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Re: Black Wednesday 2008?

Unread postby Zardoz » Wed 23 Jan 2008, 11:37:36

$this->bbcode_second_pass_quote('Atlantean_Relic', 'S')o will today be dead hump day?

Crunch time, folks. What happens today will be most illuminating. Another big drop will be a very bad overall indicator.

DJI is down about 230 out of the gate. Let's see how it goes...
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Re: Black Wednesday 2008?

Unread postby Bas » Wed 23 Jan 2008, 11:47:19

yes, pretty tame selling so far, not very exciting though a week of 2% losses also adds up. Damn that Ben Bernanke for spoiling all our fun! :x
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Re: Black Wednesday 2008?

Unread postby dorlomin » Wed 23 Jan 2008, 12:08:16

$this->bbcode_second_pass_quote('Bas', 'y')es, pretty tame selling so far, not very exciting though a week of 2% losses also adds up. Damn that Ben Bernanke for spoiling all our fun! :x
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Re: Black Tuesday 2008?

Unread postby dinopello » Wed 23 Jan 2008, 12:44:41

$this->bbcode_second_pass_quote('PenultimateManStanding', '')$this->bbcode_second_pass_quote('Tyler_JC', 'I') shorted the market big time with my UpDown fantasy stock market account.

I've lost more than 5% in one day.

:lol:
This is something that puzzles me.


5% isn't that much. The market plunged at open and he probably 'sold' his shorts after an initial plunge and it closed higher than that. I don't do the shorting thing so I don;t know the rules about covering your positions. Does that have to be done at the end of the day in every case ?
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Re: Black Wednesday 2008?

Unread postby greenworm » Wed 23 Jan 2008, 12:57:58

$this->bbcode_second_pass_quote('', 'D')oes that have to be done at the end of the day in every case ?


Nope. You can short indefinitely, however, since you are buying on margin you are getting charged for the money you borrow, so it is wise to get in and out rather quickly.
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Re: Black Wednesday 2008?

Unread postby Plantagenet » Wed 23 Jan 2008, 13:01:10

Asian stocks went up after the US Fed cut, but the stock market panic resumed for another day with a big selloff in Europe on Wednesday. The UK's FTSE 100 index was off another 162.6 points, or 2.8%, lower at 5,577.5, erasing earlier gains on Wednesday. Germany's Dax lost 5%, while France's Cac 40 fell 4.7%. 8)
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Re: Black Wednesday 2008?

Unread postby Bas » Wed 23 Jan 2008, 13:04:56

$this->bbcode_second_pass_quote('Plantagenet', 'A')sian stocks went up after the US Fed cut, but the stock market panic resumed for another day with a big selloff in Europe on Wednesday. The UK's FTSE 100 index was off another 162.6 points, or 2.8%, lower at 5,577.5, erasing earlier gains on Wednesday. Germany's Dax lost 5%, while France's Cac 40 fell 4.7%. 8)


yeah, the European exchanges went down pretty fast during the early afternoon after Trichet said that he won't cut rates in the near future. They have recovered somewhat now though, Dax and Cac both at -3.8%
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