Market tanks AGAIN

[Subdivisions]

DOW down -246.79

All other indices and energy commidies down. Metals up.


Wow. The markets and the general economy are seriously wobbling. Where will it all lead?

Edited to add link: http://finance.yahoo.com/indices?e=dow_jones

[DS1]

1. And it was up 250 yesterday

please know what you're talking about before posting these seemingly endless and uninformed 'market tanks' threads.

[Subdivisions]

2. Isn't a "wobble" a back-and-forth movement? Why so snarky? EDIT:

I failed to address your "please know what you're talking about" and "uninformed" ass-umations. How the fuck would you know? FYI, I check the markets periodically ALL DAY LONG and not just our markets but MARKET INDICES AROUND THE FUCKING PLANET!

[Lone_Star_Dem]

3. It was up 117.78 yesterday.

After bouncing all over the place it retreated again right before closing.

[marmar]

4. It didn't finish up 250 yesterday.....

n/t

[MercutioATC]

6. Dude, them market's at 12,606...that's a tank by anybody's definition.

Wanna bet we see the 11's before the end of the month?

[DS1]

9. bullshit, not even close to a tank

[hiphopnation]

10. you're arguing semantics?

i'm no economist, but news that the dow closed down 250 points is everywhere. yahoo said stocks were "slammed" would you concur with that?

whatever the hell you want to call it, it don't look good :scared:

[MercutioATC]

11. Another 250 points today after the last 2 weeks' losses.

What would you call it?

[Individualist]

8. Wrong. please know what you're talking about before posting these

uninformed statements.

[Fleshdancer]

5. I just got an ABC news alert saying the same thing

http://abcnews.go.com/Business/MarketTalk/story?id=4121928&page=1

Stocks Tank: Dow Falls 246 Points Today
Another Miserable Day on Wall Street as Investors Continue to Worry About Banks

NEW YORK (AP) -- Wall Street plunged again Friday amid renewed fears that the financial sector's troubles with bad credit won't soon end and that some consumers are buckling under signs of a slowing economy. The Dow Jones industrials fell more than 300 points in the last hour of the session before regaining ground.

A Millionaire FairThe arrival of earnings season has investors worried about how banks and brokerages have fared after suffering losses in the collapse of the subprime mortgage market. Traders appeared to grow more pessimistic ahead of reports next week from the nation's biggest financial institutions. Merrill Lynch & Co., Citigroup Inc. and JPMorgan Chase & Co. are all slated to weigh in next week.

Adding to investors' unease, Merrill Lynch might take a $15 billion hit from its exposure to soured subprime mortgage investments, according to The New York Times. The nation's largest brokerage is also said to be seeking another capital infusion to help shore up its balance sheet.

[quiet.american]

7. Yep -- you're not alone in your concerns.

Headline from Marketwatch.com "...most dismal first-eight-trading-days-of-a-year run in 17 years...."

Headline from NYT: "Stocks Drop Sharply Amid Subprime Woes"

Headlines from FT: Wall Street drops sharply on AmEx earnings -- Fears over slowing US consumer spending

Even Bush in all his glorious delusion has cut down on the "strong economy from an MBA president" drivel.

Regardless of whether the market was up yesterday, it has been down, down, down since the beginning of this year. Looking at my trading list of a-list moneymaker stocks, all I can see is a ongoing sea of red.

Good thing I also play put options.

[newportdadde]

12. When you factor in the dollar devaluing the past few years and inflation... in real money its

not doing all that well.