Dow down 300+ pts and still sliding

[NMDemDist2]

wonder when they'll shut it down?

http://www.cnbc.com/

[HiFructosePronSyrup]

1. So that officially makes it a correction.

10% off the all-time high.

I wonder how deep this rabbit hole goes.

[Javaman]

2. 309 and still dropping nt

[Warpy]

3. Another 300 points, maybe. Another 500, definitely.

I watched all the red ink last night. I can't say I'm surprised.

Sic transit glorious money.

[NMDemDist2]

5. me either, I've been watching all week and it's not done yet I fear

:scared:

[Davis_X_Machina]

15. A 20% pullback...

....and there have been plenty of those over the decades, would put the DJIA at 10500 or so.

[Burma Jones]

4. Lottery Tickets are looking better and better........

[TahitiNut]

7. "Estimated Jackpot is $148.0 million"

:evilgrin:

[NMDemDist2]

9. yeah, but when you win, where do you put it??

:rofl:

[Burma Jones]

11. Given the mood these days

I gotta go buy a chain of liquor stores........

[TahitiNut]

12. Mayonaisse jar in back yard? Gold?

:silly:

[havocmom]

14. topsoil

and water

[NMDemDist2]

17. best idea yet!

:hi:

[havocmom]

25. Things will be getting back to 'basics' PDQ

Americans are about to get a hard lesson on the real difference between 'want' and 'need'.

[NMDemDist2]

26. that's why I sold my overinflated 'burb box and bought an acre in

a very rural area with salt, water and soil and no mortgage

people forget that salt was the 'oil' of the pre-industrial economy

you can't raise livestock or preserve meat with out it

:hi:

hope it doesn't come to that, but I'm learning how to garden and only heirloom seeds are allowed

[Brigid]

39. But you have internet, right?

:evilgrin:

Seriously, I think you might have the right idea. But with the housing meltdown, it may be too late for some to sell their overinflated 'burb boxes. :(

[NMDemDist2]

41. i thank DU for sounding the alarm last year, I started the process in 3/06 and sold

in 6/06 just before the bottom really started falling out.

if I'd have moved 3 months earlier I might have made another $10k, but my house now has dropped $14k since I sold it

DUers saved my @ss (again)

[Brigid]

42. Wow!

Hear that, everyone? DU :yourock:

[havocmom]

45. I recall your move and the start of your new journey

'Wise woman' I said to the computer monitor as I read about your plans. So many here just plain wouldn't see. Too many still won't.

Yes. Time for people to stop living in Delusion Land and face reality. The robber barons have used America, and us, all up. They grind our troops and turn their blood to money as long as China keeps funding our dept. We are just worn out cogs. They are done with us save those few who will be their plantation foremen.

[NMDemDist2]

47. I'm feeling like a worn out cog

and I'm sitting pretty good. I can't imagine what it's like in some places....

[havocmom]

48. My daughter is in Tucson, in the business that services real estate transactions

She is NOT having a good week. She is NOT feeling the least bit optimistic about the future, or even about next week. It is terrible for people to be working so hard and know they are slipping under dark water.

[Brigid]

24. Or a trip to Vegas.

Blackjack, anyone?

[terisan]

6. Bright Side: oil going lower. Opportunity: good reason to get BushCheney out now.

[Lone_Star_Dem]

8. It goes by the percentage of drop, not the actual number of points

I could well be wrong on this, but I think it takes something like a 10% drop (based on the previous months closing average) before that safeguard kicks in.

[NMDemDist2]

10. ok, that makes sense

:hi:

[wtmusic]

13. Cool

Good sign. All the get-rich-quick MFers needed their wrists slapped.

Anyone else who is seriously thinking about selling right now should not be investing in the stock market.

[Subdivisions]

16. -334 (or -2.5%) Yen at 112.030 and gaining against Dollar.

This is not good at all.

[mmonk]

18. Waiting for the dust to settle.

Then it's time to shop.

[wtmusic]

20. It's always time to shop, isn't it?

That's what credit cards are for. ;-)

[mmonk]

21. Yes

Of course I'll be looking at stocks at their new prices.

[no_hypocrisy]

19. Let me offer the traditional, obligatory "It's Clinton's fault!"

There, Freepers . . . feel better now?

[Brigid]

23. That's funny.

Strange how much power Clinton has when he's been out of the WH for 6 1/2 years now! :rofl:

[Brigid]

22. 1929, anyone? n/t

[nadinbrzezinski]

27. NOT YET

we are in deep correction territory... but for the C to even enter the minds of people in the market (wait it probably has), we need to loose at lesat another 10% of the value

Not saying it won't happen.

Just saying that technically we are not there yet

the operative word is YET

Hey, on the bright side, them geniouses who gave you 1870, and 1929 are in charge for the same economic ponzi schemes

[Roxy66]

28. What!!? Bush say's the economy is the best it's ever been.....I believe Bush

not these liars on the "Liberal Media"....:eyes:

[Brigid]

30. Been drinking the Kool-Aid, I see.

Time for a trip to detox. :evilgrin:

[Roxy66]

31. I hope you know... I'm not serious

[Brigid]

40. Of course I know.

But there are some (not around DU, thankfully) who are serious.

[Blackhatjack]

29. TV Pundits Calling This "Buying Opportunity" ---LOL yeah right

If this were limited to one sector AND

If the rest of the global markets were not tanking as well AND

If this was not happening AFTER the Fed has made numerous injections of liquidity AND

If central banks in other countries had not already made numerous injections AND

If there were not speculation that one or more hedge funds will fail AND

If people could still get mortage loans AND

If housing starts were not down to 1997 levels AND

If mortgages were not about to reset in the next 60-90 days AND

If you had a currency printing press in your basement with plenty of paper and ink THEN

YES this would be a 'buying opportunity.'


I think it is rich to tout buying opportunities when Warren Buffet says 'let them lose their houses' (don't bail out the homeowners)

By all means let's all buy ...buy...buy

[NMDemDist2]

32. heh

what you said!

:hi:

[Brigid]

34. "Buying Opportunity?!"

What morons we have running ythe country these days. :eyes:

[DU GrovelBot]

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[NMDemDist2]

38. yay!!! even GrovelBot is watching the market today !!!! n/t

[alfredo]

35. Havew they stopped trading? It hasn't moved for some time now.

[NMDemDist2]

36. curbs kicked in at 2% lost level

so yes, curbs are in place

[nadinbrzezinski]

43. YOWZERS!

[alfredo]

46. I was watching the CNN site. It stopped updating. I went

elsewhere and the updates were working.

[nadinbrzezinski]

37. There are trip points where they stop the trade

courtesy of the 1987 slide

But I don't think we reached the percentages today... they may

[wakemeupwhenitsover]

44. But everything is fine! It's still up for the year!

Oh wait. It's not. All the gains have been erased. :cry: