The Day of Reckoning is upon us

[itshappening]

FTSE 100
3968.42 DOWN -345.38 -8.01%

the UK stock market is crashing, officially

[angelatc]

FTSE 100
3968.42 DOWN -345.38 -8.01%

the UK stock market is crashing, officially

IIRC, I believe they halt trading for an hour if the Dow falls 10% before 1:00. They close it for the day if it falls 30% before 1:00.

I forget what the afternoon circuit breakers are, but they'll shut it down then too if they have to, and an afternoon halt requires less of a drop than a morning drop to shut it down for the day.

Bush is talking at 10:20, so that will give the markets time to crash and be halted for at least an hour.

This is so sad, and the knee jerk reactions by the administration and the media are only making it worse.

But it's fallen so fast and so hard that I think any uptick will result in huge gains. People want to believe.

[ShowMeLiberty]

Russia has suspended trading "until further notice". Today will be interesting - in the ancient Chinese curse sense of the word.

[voytechs]

But it's fallen so fast and so hard that I think any uptick will result in huge gains. People want to believe.

And that's when you sell into it. Its sad, but necessary. Remember there is a huge equity bubble bursting right now. DOW and all those other companies would never be where they are today if it wasn't for the flood of fed money. That money went into everything including equities

[itshappening]

....

[CUnknown]

There is no way the market can continue to fall in coming weeks. This is the bottom, perhaps after another day or two of falling. However bad the housing bubble was (and it is causing horrendous effects, no doubt), it can't be too much worse than the dot com collapse. Well, we are approaching dot com bust territory right now and that's not even adjusting for 6 years of inflation!

So in real terms, right now, we are below the dot com collapse. Below. Even with all these bailouts, we are below. That seems like some serious panic and overselling to me. But if you take financial advice from me, you are a f@cking idiot because I have lost my shirt in recent weeks.

[tremendoustie]

There is no way the market can continue to fall in coming weeks. This is the bottom, perhaps after another day or two of falling. However bad the housing bubble was (and it is causing horrendous effects, no doubt), it can't be too much worse than the dot com collapse. Well, we are approaching dot com bust territory right now and that's not even adjusting for 6 years of inflation!

So in real terms, right now, we are below the dot com collapse. Below. Even with all these bailouts, we are below. That seems like some serious panic and overselling to me. But if you take financial advice from me, you are a f@cking idiot because I have lost my shirt in recent weeks.

If I thought this was just about the housing bubble, I'd buy now. My view is that the extreme over leveraging and red hot derivatives market, not to mention the fed's policies, our debt, and the precariousness of the dollar, have made our financial system basically a house of cards -- the housing bubble is simply the catalyst.

[Mahkato]

http://www.nyse.com/press/circuit_breakers.html

CIRCUIT-BREAKER LEVELS
FOR FOURTH-QUARTER 2008

In the event of a 1100-POINT decline in the DJIA (10 percent):

Before 2 p.m.
1-HOUR HALT

2-2:30 p.m.
30-MIN. HALT

After 2:30 p.m.
NO HALT

In the event of a 2200-POINT decline in the DJIA (20 percent):

Before 1 p.m.
2-HOUR HALT

1-2 p.m.
1-HOUR HALT

After 2 p.m.
MARKET CLOSES

In the event of a 3350-POINT decline in the DJIA (30 percent), regardless of the time, MARKET CLOSES for the day.

[ItsTime]

There is no way the market can continue to fall in coming weeks. This is the bottom, perhaps after another day or two of falling. However bad the housing bubble was (and it is causing horrendous effects, no doubt), it can't be too much worse than the dot com collapse. Well, we are approaching dot com bust territory right now and that's not even adjusting for 6 years of inflation!

So in real terms, right now, we are below the dot com collapse. Below. Even with all these bailouts, we are below. That seems like some serious panic and overselling to me. But if you take financial advice from me, you are a f@cking idiot because I have lost my shirt in recent weeks.

The housing bubble LOL You really think that is what caused all the markets in the world to fall so fast?

[JohnJay]

There is no way the market can continue to fall in coming weeks.

Really. . . why ?
Because YOU are maybe too young to have ever experienced a prolonged bear ?

[paulitics]

The housing bubble LOL You really think that is what caused all the markets in the world to fall so fast?

I think it is total distrust, which it should be. If it looks like their is a coordinated effort to squash free market principles in favor of world communism, then the free market should be afraid. This distrust feeds on itself because the market is looking 5 to 10 years out, and saying the conditions will not be favorable for capitalism. Many of these companies will cease to exist.