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Another day, another bloodbath on Wall Street:

Discussion in 'Political Discussion' started by Run DMC, Nov 12, 2008.

  1. Run DMC

    Run DMC Rookie

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    Down another 300 pts. Ho hum. Great job by the boy King and the rest of the Republican thieves who are looting the treasury as I type this. See ya'll at 6200 on the Dow.
  2. PatriotsReign

    PatriotsReign Rookie

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    Was that your original prediction Mossed?

    No changing! I'm already screwed. I think I predicted 9,600 which is embaressing now! I'll have to go back & check to see if it was 8,600.

    If we come close to 6,200, you'll be THE MAN!
  3. Run DMC

    Run DMC Rookie

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    PR, to be honest I predicted 7200 for sure, 100% certainty. 6200 is the bottom of the 20th century dow channel and I would not be at all shocked to see it touched. But, who knows?
  4. PatriotsReign

    PatriotsReign Rookie

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    What is "the bottom of the 20th century dow channel"? Explain please.
  5. Run DMC

    Run DMC Rookie

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    Look at historical chart of the dow for the last 100 years and draw a slope line from the all of the bottoms of the last 100 years and you arrive at 6200. Excuse me, 6326.
    Check it out:
    Nasdaqcrash.jpg
    Last edited: Nov 12, 2008
  6. PatriotsReign

    PatriotsReign Rookie

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    you mean 6362 don't you?
  7. Run DMC

    Run DMC Rookie

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    Oh yeah, that too.:p
  8. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Just wait until tomorrow, baby, after Intel's crappy number after today's close.

    Nothing to do now, even if we hit 6200 as the bottom we're already about 70% of the drop from 14K so there's not that much downside left. If anyone is ballsy enough to try to short the last 20% or so of the drop more power to you but that's a tricky game.
  9. NEPatriot

    NEPatriot Banned

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    It was funny to see how liberals reacted to the 238 or 248 pts few days ago. Thank you to Obama's leadership.

    When the down has dropped for 3+ days, you don't see the same kind of Obama's leadership from liberals any more.:D

    I have to wait to find out next year.
  10. maverick4

    maverick4 Banned

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    I called Dow 6000 in 6 months, about a month ago.

    And I am shorting like crazy. Good luck putting your ill faith in an American recovery, with these jokers in charge they are raping your country and you don't even realize it.
  11. Run DMC

    Run DMC Rookie

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  12. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I wouldn't say I have faith in the recovery but even 6000 leaves us only 2300 to drop and we've already dropped 5700; I realize the % changes as we drop. I'm not advanced enough with stocks to short and stuff like that but I do have about 40% of my 401K in bonds and government securities now. If we do drop below 7K then I'll get everything back in stocks.
  13. PressCoverage

    PressCoverage Banned

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    Wow... are you ever horrible at this...

    The man hasn't served a single day in the oval office, and Limbaugh over here wants to pin the entire financial collapse on his doorstep...
  14. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Obviously this isn't Obama's fault. However the market looks ahead a lot more than the 70 or so days until he's inaugurated and isn't seeing and signs of light yet. Is it Obama's fault ? No. Is the market seeing him as the incoming President as a big boost ? Nope.
  15. maverick4

    maverick4 Banned

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    Then do you attribute the first 5000 points that dropped on Republicans?

    Will you people stop playing politics for a second and look at the economy. This is not about who is President, the fundamental behaviors behind this country are all f*cked up.

    You cannot keep buying more than you make or earn, as an individual, as a company, as a government, as a nation and as a people and not expect everything to cave in after decades of this.

    You cannot keep bailing out institutions that deserve to die. That is not capitalistic. We are more socialist than China right now, by a mile.

    The entire system is broken. I want to start from scratch with the original constitution, a HEAVILY regulated financial sector, and a ban on special interest groups or lobbyists in government. Oh, and no Federal Reserve, no private institutions please, I want a government that can print its own money without having to pay interest.
    Last edited: Nov 12, 2008
  16. maverick4

    maverick4 Banned

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    Those who don't see how hyper-inflation is coming, do not understand that graph you just posted.

    You cannot nearly double the amount of dollars in circulation without eventually doubling the price of milk.
  17. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I was just replying to the post; there's more than enough blame to go around on Democrats and Republicans and to before W. took office.
  18. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    So as you have been right about this all along (statement of fact there, not sarcasm), what do you recommend long term - say we hit your low of 6K. Gold, I assume, not stocks or even bonds ? Just straight Gold ?
  19. Run DMC

    Run DMC Rookie

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    Thank you.
  20. PatriotsReign

    PatriotsReign Rookie

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    And it would be the same no matter who the president elect is. Even if Ronald Reagan resurected and came back it would be the same way.

    People have to realize that Wall Streets perception of gov't plays a tiny role in what the market is doing over any length of time.

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