DOW watch thread - March 3rd, 2009

[LiveToWin]

DOW futures at |6872.0 82.00|

[Knightskye]

I think the drop will scare traders into bouncing back above 7,000, therefore I voted up 100-299.

[LiveToWin]

DOW |6763.29 23.00|

Lost most of its gains overnight, I think this is going to be a down day again

[Cowlesy]

Some dumbass on CNBC just went, "We could be putting in a bottom here" lololol.

[Bruno]

Some dumbass on CNBC just went, "We could be putting in a bottom here" lololol.

The teleprompter technician accidently fed them script from 09/2008.

[MsDoodahs]

Bernanke and Geitner both speak before Congress today - Ben in front of a Senate committee, Geitner in front of House ... I think Ways and Means?

Anyway....it's ALWAYS volatile when those guys are talking...

I have no idea where it will end.

[Rangeley]

It will start up, but end the day with a loss of around 100.

[Kludge]

Is there much of a point in discussing futures? My sub-amateur eye notes that they seem to be a terribly inaccurate indicator of how the day (or even the first thirty minutes post-opening bell) will play out.

[Brown Sapper]

It'll bounce back, but not as much as the loss.

[Brown Sapper]

http://i269.photobucket.com/albums/jj54/goldilocks_017/pussycatbounce.jpg

[Sandra]

Investors think that Congress is using Ben and Tim's babble just to make the numbers go up.

[Sandra]

6763!

[smithtg]

Investors think that Congress is using Ben and Tim's babble just to make the numbers go up.


nahh, ben can make it go down, just like obama does.

there should be betting on things like this

[Sandra]

nahh, ben can make it go down, just like obama does.

there should be betting on things like this

The last time he spoke, the figures went way up. We referred to him as Magic Ben.
It must only work with moon phases or something. :D

[voytechs]

S&P below 700.

[Sandra]

-36.55. Could this be it?

[Bruno]

-41

Headline change from : Wallstreet bounces one day after big drop

to:

Wall Street Turns Negative After Data and Bernanke; S&P Slips Below 700-

[ItsTime]

I thought there was going to be a bounce.

[ItsTime]

Yahoo or AP changed title of article "Wall Street Turns Negative After Data and Bernanke; S&P Slips Below 700- AP" from "Stock prices climb a day after after massive drop
Stocks rise after big slide; Bernanke says recovery depends on propping up financial markets "

http://finance.yahoo.com/
http://finance.yahoo.com/news/Wall-Street-bounces-a-day-apf-14526347.html

[Scribbler de Stebbing]

I thought there was going to be a bounce.

That was a bounce. Just think how far down it would be if we had a dip. (Two-digit drops are the new "ups.")

[Sandra]

I thought there was going to be a bounce.


There was.... in upside down world. :p

[ItsTime]

Yahoo or AP changed title of article "Wall Street Turns Negative After Data and Bernanke; S&P Slips Below 700- AP" from "Stock prices climb a day after after massive drop
Stocks rise after big slide; Bernanke says recovery depends on propping up financial markets "

http://finance.yahoo.com/
http://finance.yahoo.com/news/Wall-Street-bounces-a-day-apf-14526347.html


There was.... in upside down world. :p

Yahoo thought there was going to be a bounce too :eek:

[Sandra]

Yahoo thought there was going to be a bounce too :eek:

I'm so suspicious of those articles. They don't give real reasons for that bounce they predict. Almost as if the article was meant to rally investors.

[LiveToWin]

If today it is down at the closing bell, how many days in a row will it have been down?

[Bruno]

If today it is down at the closing bell, how many days in a row will it have been down?

I believe i saw yesterday it was 12 out of 15, but I don't know how many in a row.

[Scribbler de Stebbing]

Who needs Democrats when there are self-described "conservative Republicans" such as Lindsey Graham supporting bank nationalization? Did anyone else just watch him -- I want to use a crude expression here, but won't -- kiss up to Bernanke?

[LibertyEagle]

Yeah, I saw him. He makes me physically ill. How dare he call himself a conservative. :mad:

[malkusm]

If today it is down at the closing bell, how many days in a row will it have been down?

Today would be the 5th straight down day, the last up day was a week ago today. And the 12 out of 15 number would be correct - adding today would make 13 out of the last 16 days down (16 market days ago, the Dow was right around 8300).

[LibertyEagle]

Why is gold tanking so much?

[Bruno]

Why is gold tanking so much?

Huge sell-offs of ETFs? Just guessing.

[Sandra]

Magic Ben strikes again! +2.24

[Crowish]

+20.08

[MsDoodahs]

In the red now.

[Bruno]

rollercoaster ride today

[DXDoug]

great thread been watching this lately

[ihsv]

This thread needs to be in economics and sound money... it's hard to find otherwise. :)

[Bruno]

This thread needs to be in economics and sound money... it's hard to find otherwise. :)


I'm surprised it wasn't moved already. I hadn't noticed because I usually use New Posts.

[Original_Intent]

rollercoaster ride today

Yep just what I was thinking. Crazy.

[ihsv]

-43

[Sandra]

I'll bet it gets to 6600's

[Bruno]

The media is too quick to throw out a positive headline. You'd think they would have learned by now.

Wall Street shows modest moves a day after tumble

Down 45 now.

[ArchPaul]

It'll end slightly up, the drop into 6k territory was too much to digest for them yesterday ;)

[Sandra]

Going way up the last 5 minutes. This is so faked.

[MrNick]

Going way up the last 5 minutes. This is so faked.

Thats why I voted for the 1-50 for the Dow closing.

[Crash Martinez]

Voting at 4:01... YES I'M AWESOME!

[Crowish]

voting at 4:01... Yes i'm awesome!

lol

[Bruno]

Voting at 4:01... YES I'M AWESOME!

It certainly increases your odds of getting it right. ;) :D

[LiveToWin]

And it ends Down |6726 37.27|

[Original_Intent]

And it ends Down |6726 37.27|

I think we have established a floor here at 6700.

:o


:rolleyes:


:)



:D BWHAHAHAHAHA!

[Maximilian American]

I'm holding out almost entirely until new private enterprises begin to enter the market. The only safe market field to me in this situation is agriculture and gold and silver mining. For now, just stacking up the coins and paying off debts until the time is right to invest again, hopefully sometime this year to a decent extent.

[Dorfsmith]

I think we have established a floor here at 6700.

:o


:rolleyes:


:)



:D BWHAHAHAHAHA!


Time to put all my money in. ;)

[LiveToWin]

I think we have established a floor here at 6700.

:o


:rolleyes:


:)



:D BWHAHAHAHAHA!

But the fat guy who we will call "Debt" is SOOOooo heavy, he is going to fall through the floor to the floor below. Which he will most likely fall through tommorow after he eats more Debt sandwiches.

[LibertyBrews]

Do you see it, do you see it, do you see the dead cat bounce?
http://images.bloomberg.com/r06/homepage/HP_INDU.png?362635
Hint: Dow forms image of a cat. Yes i'm wearing my tinfoil hat now.

[Bruno]

Do you see it, do you see it, do you see the dead cat bounce?
http://images.bloomberg.com/r06/homepage/HP_INDU.png?362635
Hint: Dow forms image of a cat. Yes i'm wearing my tinfoil hat now.

I did! I did! I did see the puttytat bounce! :D

[Original_Intent]

It looks more like a batman bounce to me. Eye of the beholder I guess! :)

[rancher89]

OK, I want what you are on, cats, batman???? JK I see it too, makes me wonder what the "bumps" on the left are?? The boogyman sneaking up on the cat/batman??

IMHO we ain't seen nutten yet. cats and batmen falling from the sky even.....is it Friday yet?

[ILUVRP]

I traded commodities for about 35 yrs. No big deal . Lost money mostly.

But I did learn that the perfect place to buy is when the item comes 66% off its high.

As a example gold hit about 875/oz in the early 80's , therefore 33% of 875 comes out to about $285/oz late 90's.

Dow Jones high about 14,000 x .33 = 4620

I'll wait and stay long SDS and DXD . Short s&p and dow

[Ethek]

I traded commodities for about 35 yrs. No big deal . Lost money mostly.

But I did learn that the perfect place to buy is when the item comes 66% off its high.

As a example gold hit about 875/oz in the early 80's , therefore 33% of 875 comes out to about $285/oz late 90's.

Dow Jones high about 14,000 x .33 = 4620

I'll wait and stay long SDS and DXD . Short s&p and dow


This strikes me as sage advice. I't think in my limited experiance we are at the bottom so if you are buying stocks to hold them long , expect them to go lower. I would only contemplate buying gold miners or perhaps an etf or two. Not this week, but perhaps in two or three. If did buy them I would expect them to get really soft when the market does crash, perhaps in a month, perhaps in 4. I do expect it to bottom out hard in the months to come.

Oil should be moving higher now.. ala DXO... but Exxon is a house of cards and its numbers are just made up imho. Everything is sick sick sick. No confidence at all in the administration. If there was even a little,this market would be going higher right now. As it is its just very hard to tell anything. I cashed out my last gold miner today for a small loss thinking i could put my funds to work better somewhere else. I'm all cash right now.

[tmosley]

I traded commodities for about 35 yrs. No big deal . Lost money mostly.

But I did learn that the perfect place to buy is when the item comes 66% off its high.

As a example gold hit about 875/oz in the early 80's , therefore 33% of 875 comes out to about $285/oz late 90's.

Dow Jones high about 14,000 x .33 = 4620

I'll wait and stay long SDS and DXD . Short s&p and dow

That's good in normal times, but if you had done that during the great depression, you would have had a LOOOONG wait before it paid off.

I wouldn't touch US stocks until they were AT LEAST 1/10th the peak, probably more like 1/15th or 1/20th. Even then, it is possible that the dollar will collapse, and most or all listed companies will go bankrupt.