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Will Wall Street collapses Tuesday, Oct 21?

Discussion in 'Political Discussion' started by MrSparkle, Oct 20, 2008.

  1. MrSparkle

    MrSparkle Third String But Playing on Special Teams

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    Firms must now pay up credit swaps - BostonHerald.com
    Was poking around on the Google Finance blogs and a few seem worried about this. Some are calling for a total implosion Tuesday. I don't agree, I think it will be a bad day for WS but not what some posters there are calling for.
     
  2. weswelker#83

    weswelker#83 In the Starting Line-Up

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  3. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Wall Street and the international markets have been impossible to predict the last 4 weeks. There is talk by some that a bottom has been reached and others are saying there will be another big fall before the real bottom comes.

    I guess historically, when the Dow seems to bottom after a big sell off, there is a sharp rise for a period (like the past few days) and then one more big sell off.

    If nothing happens tomorrow, there is no reason to believe we won't have another big sell-off.
     
  4. Run DMC

    Run DMC In the Starting Line-Up

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    #24 Jersey

    No way in hell that 8200 is the bottom for the Dow. More like 6200 by next fall.
     
  5. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Is that your estimate Mossed or do you have credible information as to why we can expect a much deeper decline?

    I have no reason to doubt it since I believe our economy is headed into a severe recession, I just like to read various theories.

    I couldn't believe Barron's had a big article by one of their economic writers saying the recession would be very shallow and very brief. I think he said it would turn around by next spring.
     
  6. weswelker#83

    weswelker#83 In the Starting Line-Up

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    If the Dow wakes up and sees its shadow, tankage season begins. If not, then back in rally mode for two months, and then tankage season begins.
     
  7. PressCoverage

    PressCoverage Banned

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    I do... Watch the oil prices spike again in the near future...

    Those who insist the recession will be shallow and brief have incentive to say that... Global response to this crash indicates something quite different...
     
  8. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    So you believe some media sources are stupid enough to lie in hopes they can affect the market in a positive way? If your answer is yes, then we agree. So Barron's publishes an article motivated by the arrogance & greed that what they say can actually have an effect upon market trends.

    In my opinion, it should be illegal to purposefully lie in order to affect the market. I know it would be impossible to enforce, but I really get sick & tired of media people and gov't officials lying to keep the markets from declining.
     
  9. Run DMC

    Run DMC In the Starting Line-Up

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    #24 Jersey

    It is written in the stars, er, I mean charts!
     
  10. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    hey...



    hello?...



    is everyone still here?...echo....echo....:eek:


    Well, I don't think anything collapsed happy to say!:D
     
    Last edited: Oct 21, 2008
  11. weswelker#83

    weswelker#83 In the Starting Line-Up

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    The GDP of the U.S. is around $14 trillion. $450 trillion in derivatives is several times greater than the GDP of the entire globe.
     
  12. PressCoverage

    PressCoverage Banned

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    People don't want to be reminded of the failed ponzi scheme that is fiat currency.... Being told how unbridled capitalism created a bubble always ready to burst is only going to get you labeled a communist who "hates America." ... This is all the Con men have left.... Ignorant, misplaced nationalism coupled with a pathological refusal to admit the GOP f'ed us all...
     
    Last edited: Oct 21, 2008
  13. Run DMC

    Run DMC In the Starting Line-Up

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    #24 Jersey

  14. fleabassist1

    fleabassist1 In the Starting Line-Up

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    #12 Jersey

    I don't think it will crash on Tuesday Oct, 21 2008


    ....

    ....

    ....

    Wow I got it right! Wooo
     
  15. weswelker#83

    weswelker#83 In the Starting Line-Up

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    General Motors to close Janesville, Wis., SUV plant in December, earlier than expected

    Yahoo firing 1,500 workers; 3Q profit falls 64 pct

    Industrial Carriers Inc files bankruptcy

    Pacific Lifestyle Homes files for bankruptcy

    Shipper Industrial Carriers Files for Bankruptcy

    Channel 51 owner files for bankruptcy

    Mother's Cookies abruptly shut down

    Department store chain Mervyns LLC will announce Friday that it is filing for chapter 7 bankruptcy protection



    Greater Ohio Ethanol Files Chapter 11
    News/Talk 1150 WIMA

    Bankruptcies in Colorado up 40 percent
    Bankruptcies in Colorado up 40 percent : Money & Markets : The Rocky Mountain News


    Hospitals see string of bankruptcies in recent weeks
    Hospitals see string of bankruptcies in recent weeks - FierceHealthFinance - Health Finance, Healthcare Finance









    ...and so it begins.
     
    Last edited: Oct 21, 2008
  16. weswelker#83

    weswelker#83 In the Starting Line-Up

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  17. MrSparkle

    MrSparkle Third String But Playing on Special Teams

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    So, I guess it didn't happen today...


    Be afraid people, get ready. It's going to get ugly.
     
  18. weswelker#83

    weswelker#83 In the Starting Line-Up

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    From cashin (newsletter):
    A break below 8800 in the Dow could lead to further weakness. A break of 8700 could raise fears of
    follow-up cascade in selling. A dip below 900 in the S&P could induce the same fears.
    The next several days may produce something truly monumental. Have your basket ready. The game's afoot, Watson.
    That's Definitely Not Alan Greenspan At The Podium – Mr. Mervyn King, Governor of the Bank of England, gave a
    rather sobering speech overnight. Here, courtesy of our friend, Dennis Gartman, is a little bit:
    It is difficult to exaggerate the severity and importance of those events. Not since the beginning of the First
    World War has our banking system been so close to collapse... We are far from the end of the road back to
    stability, but the plan to recapitalise our banking system, both here and abroad, will I believe come to be seen as
    the moment in the banking crisis of the past year when we turned the corner... [However], the outlook is
    obviously very uncertain -- both for the world as well as our own economy.... The prospects for oil and other
    commodity prices are difficult to assess. So too are the period over which bank lending will return to normal and
    the extent of the damage to business and consumer confidence....That should get your attention. I know it got mine.
     
    Last edited: Oct 22, 2008

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