Stock market takes huge drop today

**IainDaniel** · 02-27-2007, 02:04 PM

Dow Jones dropped by over 400 pts and at one point all 30 stocks were on the down during the day.

http://money.cnn.com/2007/02/27/mark...ex.htm?cnn=yes

Wonder if there is any significant impact to be expected?

DOMS · 02-27-2007, 02:42 PM

If you consider the run up of the last few years (and the softening of the real estate market), this is an expected correction.

**IainDaniel** · 02-27-2007, 02:59 PM

That dramatically?

DOMS · 02-27-2007, 03:07 PM

Quote:

Originally Posted by IainDaniel

That dramatically?

Sure. Really, go back and look at the run up in the last two years. This is nothing more than a correction. The rest of the fundamentals aren't bad enough to turn this into a bear market.

What's really pushing down the market is feat that the Fed will lower interest rates for the first time in over three years (I think). Not too mention that a few of the bigger companies have disappointment with their earnings.

AKIRA · 02-27-2007, 03:30 PM

I wonder if my stocks got fucked..

NordicNacho · 02-27-2007, 03:38 PM

The news from China is what screwed it up. There stock market was down 9% today

NordicNacho · 02-27-2007, 03:39 PM

Quote:

Originally Posted by AKIRA

I wonder if my stocks got fucked..

you need a Roth Ira thats the way to go

DOMS · 02-27-2007, 03:53 PM

Quote:

Originally Posted by NordicNacho

The news from China is what screwed it up. There stock market was down 9% today

I saw that, but it's not enough to cause the sell-off that happened today. But it may have the final straw.

lnvanry · 02-27-2007, 05:39 PM

Quote:

Originally Posted by NordicNacho

The news from China is what screwed it up. There stock market was down 9% today

its more than that

THere was a computer switch over and this accounted for the 200pt drop in a matter of seconds...it glitched which let the decrease accumulate over a few hours then attributed all in one moment.

Also, our former fed chairman, greenspan, has been saying a lot negative things about our inflation and looming recession. ALso, our growth for the first quater was not what was expected...the market was over valued to begin with...talk of a global recession and economic slow dow...

just a few points from a person with out a Ph.D. in economics....I'm sure the experts could come up with at least a dozen more...maybe something to do with the rise in commodity prices too...who knows.

**Prince** · 02-27-2007, 06:57 PM

I lost a few thousand.

ponyboy · 02-27-2007, 07:18 PM

Time to buy in for when that gets corrected back.

maniclion · 02-27-2007, 08:01 PM

"Treasury bonds rallied as investors sought a safe place to park their money while the dollar fell. Oil prices inched higher and gold prices fell."

Hmmm, wonder if this was rigged????

DOMS · 02-27-2007, 09:44 PM

Quote:

Originally Posted by maniclion

"Treasury bonds rallied as investors sought a safe place to park their money while the dollar fell. Oil prices inched higher and gold prices fell."

Hmmm, wonder if this was rigged????

Why?

maniclion · 02-28-2007, 01:30 AM

Quote:

Originally Posted by DOMS

Why?

Computer errors and people throwing money into the treasury as a perceived haven...

sounds very strategic for the computer to have a glitch on a day like today....

maniclion · 02-28-2007, 01:33 AM

"Bond prices shot higher as investors bought into the safe-haven Treasury market, pushing the yield on the benchmark 10-year Treasury note briefly down to 4.47 percent, its lowest level so far this year, from 4.63 percent late Monday; the yield settled at 4.52 percent."

The government gets money and the yield is lowered, who wins?

BigDyl · 02-28-2007, 07:42 AM

Quote:

Originally Posted by Prince

I lost a few thousand.

Of your millions.

DOMS · 02-28-2007, 07:48 AM

Quote:

Originally Posted by maniclion

"Bond prices shot higher as investors bought into the safe-haven Treasury market, pushing the yield on the benchmark 10-year Treasury note briefly down to 4.47 percent, its lowest level so far this year, from 4.63 percent late Monday; the yield settled at 4.52 percent."

The government gets money and the yield is lowered, who wins?

People running to bonds when the stock market goes down is perfectly normal.

Also, this isn't the first time that a computer glitch has caused problems for the financial markets.

fUnc17 · 02-28-2007, 08:39 AM

My father works on the floor of the NYSE. He said the INS system got fucked up and no orders were being executed outside of the NYSE. So orders from other exchanges were NOT getting through.

Then all of a sudden, the volume blew up by about 90 million shares in a matter of seconds because of the influx of orders being executed all at once. Huge sell off, the market bounced back and sold off one more time. Market was down 500 + pts at one point.

This was all caused by a technological glitch in the order system. Bunch of bullshit.

The sad thing is that they are replacing all the brokers and specialists with computers. This will undoubtly cause more glitches and problems like this in the future. Then again, the thieving specialists did it to themselves by trying to steal money, causing government regulation after regulation, leading to all the surveillance by cameras, computers and so forth. People can't be trusted and now computers are taking their jobs

NordicNacho · 02-28-2007, 08:43 AM

up 80 so far today I thought it would start out going down and then build up.

http://moneycentral.msn.com/detail/m...symbol=%24INDU

fUnc17 · 02-28-2007, 08:44 AM

Quote:

Originally Posted by NordicNacho

up 80 so far today I thought it would start out going down and then build up.

http://moneycentral.msn.com/detail/m...symbol=%24INDU

I still won't look at my IRA, I dont even want to know.

DOMS · 02-28-2007, 08:46 AM

Quote:

Originally Posted by NordicNacho

up 80 so far today I thought it would start out going down and then build up.

http://moneycentral.msn.com/detail/m...symbol=%24INDU

The experienced traders know a bargain when they see it.

BigDyl · 02-28-2007, 08:46 AM

Quote:

Originally Posted by fUnc17

I still won't look at my IRA, I dont even want to know.

You're fired.

fUnc17 · 02-28-2007, 08:57 AM

Quote:

Originally Posted by BigDyl

You're fired.

You're Arm barred.

http://www.buzzhumor.com/videos/3750...ate_Black_Belt

**Prince** · 02-28-2007, 11:07 AM

Quote:

Originally Posted by fUnc17

The sad thing is that they are replacing all the brokers and specialists with computers. This will undoubtedly cause more glitches and problems like this in the future. Then again, the thieving specialists did it to themselves by trying to steal money, causing government regulation after regulation, leading to all the surveillance by cameras, computers and so forth. People can't be trusted and now computers are taking their jobs.

I would rather have it computer controlled, humans are subject to much more error, and as you said they can't be trusted.

Big Smoothy · 03-01-2007, 08:39 AM

Quote:

Originally Posted by Prince

I lost a few thousand.

But did you sell?

If not, then you have not lost anything.

And remember.....'regression to the mean'

This is a buying opportunity gentlemen.

02-27-2007, 02:04 PM	#1
IainDaniel My Role Model Moderator Join Date: Nov 2002 Location: Ontario, Canada Posts: 15,612	Stock market takes huge drop today Dow Jones dropped by over 400 pts and at one point all 30 stocks were on the down during the day. http://money.cnn.com/2007/02/27/mark...ex.htm?cnn=yes Wonder if there is any significant impact to be expected?
	Obstacles don't have to stop you. If you run into a wall, don't turn around and give up. Figure out how to climb it, go through it, or work around it. Michael Jordan

02-27-2007, 02:42 PM	#2
DOMS Metrosexual Elite Member Join Date: Jul 2004 Location: In a van, down by the river... Posts: 21,511 Photos: 5	If you consider the run up of the last few years (and the softening of the real estate market), this is an expected correction.
	I never lie because I don't fear anyone. You only lie when you're afraid.—John Gotti

02-27-2007, 02:59 PM	#3
IainDaniel My Role Model Moderator Join Date: Nov 2002 Location: Ontario, Canada Posts: 15,612	That dramatically?
	Obstacles don't have to stop you. If you run into a wall, don't turn around and give up. Figure out how to climb it, go through it, or work around it. Michael Jordan

02-27-2007, 03:30 PM	#5
AKIRA I am Rollo Tomassee.. Elite Member Join Date: Jul 2005 Location: Outside the box Posts: 7,765 Photos: 3	I wonder if my stocks got fucked..
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02-27-2007, 03:38 PM	#6
NordicNacho Registered User Join Date: Dec 2006 Posts: 2,415 Photos: 18	The news from China is what screwed it up. There stock market was down 9% today
	http://www.roqofthe80s.com/#

02-27-2007, 06:57 PM	#10
Prince the one & only Administrator Join Date: Nov 2000 Location: Colorado Posts: 33,730 Blog Entries: 25 Photos: 320	I lost a few thousand.
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02-27-2007, 07:18 PM	#11
ponyboy Training Trainer Elite Member Join Date: Apr 2002 Location: Running around somewhere Posts: 2,608 Photos: 1	Time to buy in for when that gets corrected back.
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02-27-2007, 08:01 PM	#12
maniclion Catalyst Elite Member Join Date: Aug 2003 Location: Hawaii, selling munitions for the war on EcoTerror Posts: 17,901 Photos: 10	"Treasury bonds rallied as investors sought a safe place to park their money while the dollar fell. Oil prices inched higher and gold prices fell." Hmmm, wonder if this was rigged????

02-28-2007, 01:33 AM	#15
maniclion Catalyst Elite Member Join Date: Aug 2003 Location: Hawaii, selling munitions for the war on EcoTerror Posts: 17,901 Photos: 10	"Bond prices shot higher as investors bought into the safe-haven Treasury market, pushing the yield on the benchmark 10-year Treasury note briefly down to 4.47 percent, its lowest level so far this year, from 4.63 percent late Monday; the yield settled at 4.52 percent." The government gets money and the yield is lowered, who wins?

02-28-2007, 08:39 AM	#18
fUnc17 Drop and give me 100 Join Date: Nov 2004 Location: Jersey Shore BJJ Posts: 1,865 Photos: 12	My father works on the floor of the NYSE. He said the INS system got fucked up and no orders were being executed outside of the NYSE. So orders from other exchanges were NOT getting through. Then all of a sudden, the volume blew up by about 90 million shares in a matter of seconds because of the influx of orders being executed all at once. Huge sell off, the market bounced back and sold off one more time. Market was down 500 + pts at one point. This was all caused by a technological glitch in the order system. Bunch of bullshit. The sad thing is that they are replacing all the brokers and specialists with computers. This will undoubtly cause more glitches and problems like this in the future. Then again, the thieving specialists did it to themselves by trying to steal money, causing government regulation after regulation, leading to all the surveillance by cameras, computers and so forth. People can't be trusted and now computers are taking their jobs
	Athletic Strength & Movement blog Strength Edge

02-28-2007, 08:43 AM	#19
NordicNacho Registered User Join Date: Dec 2006 Posts: 2,415 Photos: 18	up 80 so far today I thought it would start out going down and then build up. http://moneycentral.msn.com/detail/m...symbol=%24INDU
	http://www.roqofthe80s.com/#