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DOW 5/06 tanking...

Discussion in 'Political Discussion' started by DisgruntledTunaFan, May 6, 2010.

  1. DisgruntledTunaFan

    DisgruntledTunaFan Rookie

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  2. Leave No Doubt

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    See what happens by the bell.
  3. Holy Diver

    Holy Diver Rookie

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  4. Leave No Doubt

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    Reaction to what's going on in Europe, specifically Greece. Fox Business: Selling Spree: Dow Dives 900 on Euro Fears - FOXBusiness.com
  5. DisgruntledTunaFan

    DisgruntledTunaFan Rookie

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    Yep - the "Plunge Protection Team" could yet again save the day!
  6. khayos

    khayos Rookie

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    Entitlements destroy countries.
  7. DisgruntledTunaFan

    DisgruntledTunaFan Rookie

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  8. mcgraw_wv

    mcgraw_wv Rookie

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    That has nothing to do with this sell off...

    What we are seeing is the profit taking after the bulk of the public was assured that the economy has stabilized... they took billions of your dollars last year, and then they needed to get one last sell off before the entire house of cards falls.
  9. Leave No Doubt

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    The US is the largest contributor to the IMF, 17.1% I think. Not all countries contribute but of those that do we sit on top of that list.
  10. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    It is now 3:31 PM and it is down 390, wonder why no one posted when it had some of the + 250 days???
  11. khayos

    khayos Rookie

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    Because it only represented 2.5%... at 10% the market shuts down which we almost hit today... and why it's being posted. If you don't see this as big news, you might want to go back for the GED.
  12. Leave No Doubt

    Leave No Doubt PatsFans.com Supporter PatsFans.com Supporter

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    Because it plunged 1000 points in a matter of minutes? It's correcting but I'd call that plunge newsworthy:cool:
  13. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    I was not aware that it almost hit 1000, some of us do not pay that much attention to that type of thing..
  14. khayos

    khayos Rookie

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    Well, you could have googled or hit a news site before questioning the purpose of this thread... as, by its existance, should have tingled "something is wrong"
  15. Leave No Doubt

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    Well you gotta start! Even if you're not in the market what's going on in Greece and Europe is affecting us.
  16. khayos

    khayos Rookie

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    Good news, may have just been human error rather than the markets seizing up!
  17. DisgruntledTunaFan

    DisgruntledTunaFan Rookie

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  18. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Hope'y Change'y
  19. mcgraw_wv

    mcgraw_wv Rookie

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    I don't know how Human Error would account for twice the Volumne than average.

    Actual 404.39M / Average 200.42M
  20. khayos

    khayos Rookie

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    CNBC said (reportedly, I'm looking at articles online) that someone hit billion rather than million which made it epicly worse.
  21. DisgruntledTunaFan

    DisgruntledTunaFan Rookie

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    Don't believe everything the tv news tells you - to be frank, the ESPN "analysts" are more credible than the CNN/MSNBC/FOX people.
  22. IcyPatriot

    IcyPatriot ---- JAG ----- PatsFans.com Supporter

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    #87 Jersey

    Yup ... everybody is selling off their North Providence RI
    stock because we had 3 council people arrested for taking bribes ... :eek:
  23. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Bloodbath in the forex mkt. wow. Euro down >1000 pips relative to yen same for GBP, dollar takes a beating.


    What a bloodbath, Soros got (much more) rich today he is short the Euro.
  24. PatriotsReign

    PatriotsReign Rookie

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    Maybe because the Dow is still down 3-4,000 points from it's high in 2005?

    I dunno... :confused2:
  25. Real World

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    I don't think the single miss of a key stroke, caused all this. I think the market is over inflated, and people know it. The crap in Europe, as well as China, scares people.
  26. Holy Diver

    Holy Diver Rookie

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    while I agree the market is WAY over inflated, this seems to be a case of error.

    News Headlines

    This is exactly why the 24hr news cycle and instant trading sucks.
  27. Real World

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    I saw that article. A lot of people aren't buying it. The 3 day average is down 5.7%. The attempted trades of Proctor & Gamble got blocked, and those blocked, moved elsewhere to dump the stock. Plus, most of the errors reportedly occured during the height of the sell off, which would mean they weren't the cause, and more of an effect. I think it's more than a single person making a mistake. I think pundits will try to point toward that, to prevent mass fear, and a huge run off. We'll find out in the next couple of days anyway. Were there not the issue going on in Europe, I'd buy their story a little more, but the problems overseas make it more likely that the sell off was legit. Mostly anyway. Just my 2 cents, and I'm certainly not an expert here.
  28. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    401 is in Gold and Silver a group out of Canada that had real metal and not paper. Gold over $1,200 today
  29. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey

    But, selloffs occur only when something UNUSUAL happens.
    Last edited: May 7, 2010
  30. Real World

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    The market is tanking again. It's down over 200+ points so far today. We're in very uncertain times. Does anyone seriously wonder if the US could eventually have a Greece moment? There's no doubt that the gubmit needs the economy to rebound soon. If not, then tax receipts will remain low, and deficits will stay high. For us citizens, I don't need to explain why we need it to grow. I still think we're headed toward uneven, inconsistent, relatively slow growth for the coming 12-24 months.

    S&P Enters Correction Territory; VIX Spikes

    Published: Thursday, 20 May 2010 | 11:30 AM ET Text Size By: Cindy Perman

    Stocks fell sharply Thursday after an unexpected spike in jobless claims escalated a market already jittery about global problems.

    Major U.S. Indexes. DJIA 10,229.81 -214.56 -2.05%

    The Dow Jones Industrial Average was down more than 250 points, or over 2.5 percent, and the CBOE volatility index, widely considered the best gauge of fear in the market, spiked more than 25 percent to around 45, its highest level in over a year.




    News Headlines

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