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Stock market takes huge drop today

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  1. #1
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    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?

  2. #2
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    If you consider the run up of the last few years (and the softening of the real estate market), this is an expected correction.


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    That dramatically?

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    Quote Originally Posted by IainDaniel View Post
    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.


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    I wonder if my stocks got fucked..
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    The news from China is what screwed it up. There stock market was down 9% today

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    Quote Originally Posted by AKIRA View Post
    I wonder if my stocks got fucked..
    you need a Roth Ira thats the way to go

  8. #8
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    Quote Originally Posted by NordicNacho View Post
    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.


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    Quote Originally Posted by NordicNacho View Post
    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.

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    I lost a few thousand.

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  11. #11
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    Time to buy in for when that gets corrected back.
    Today I can do what others will not so that tomorrow I will do what others cannot.

    The difference between winners and losers is that winners do things that losers don't want to do.

  12. #12
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    "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????
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    Quote Originally Posted by maniclion View Post
    "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?


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    Quote Originally Posted by DOMS View Post
    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....
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  15. #15
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    "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?
    Coarse edged youth, the irish pendants string from their smiles
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  16. #16
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    Quote Originally Posted by Prince View Post
    I lost a few thousand.
    Of your millions.
    Quote Originally Posted by kbm8795 View Post
    Oh, I think Americans understand that the one thing conservatives hate the most is the idea of spending American tax money on Americans. . .in America.


    Your tax money is safe. . .in Iraq.
    Total ownage.

  17. #17
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    Quote Originally Posted by maniclion View Post
    "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.


  18. #18
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    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
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  19. #19
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    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

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    Quote Originally Posted by NordicNacho View Post
    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.
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  21. #21
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    Quote Originally Posted by NordicNacho View Post
    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.


  22. #22
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    Quote Originally Posted by fUnc17 View Post
    I still won't look at my IRA, I dont even want to know.
    You're fired.
    Quote Originally Posted by kbm8795 View Post
    Oh, I think Americans understand that the one thing conservatives hate the most is the idea of spending American tax money on Americans. . .in America.


    Your tax money is safe. . .in Iraq.
    Total ownage.

  23. #23
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    Quote Originally Posted by BigDyl View Post
    You're fired.
    You're Arm barred.

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  24. #24
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    Quote Originally Posted by fUnc17 View Post
    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.

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  25. #25
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    Quote Originally Posted by Prince View Post
    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.

  26. #26
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    Quote Originally Posted by fUnc17 View Post

    But I'm a 15th dan ishin ru black belt
    Quote Originally Posted by kbm8795 View Post
    Oh, I think Americans understand that the one thing conservatives hate the most is the idea of spending American tax money on Americans. . .in America.


    Your tax money is safe. . .in Iraq.
    Total ownage.

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