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DOW just went negative. All today's early gains wiped out.

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Subdivisions Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:47 PM
Original message
DOW just went negative. All today's early gains wiped out.
CNBC playing the theme from Annie.
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AndyA Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:48 PM
Response to Original message
1. So much for the bailout fixing the problem.
Obviously, those in the know have determined this is all bullshit.
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Subdivisions Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:51 PM
Response to Reply #1
8. Bob Pisani (CNBC) was on the NYSE floor with traders as they
watched the vote. Bob was looking up at the monitor when the vote passed and when he turned around to get the reaction of traders to the vote, they were all walking quietly away - without cheers or comment.

A few minutes later he was speaking to a couple traders to get their reaction. They said that the more the looked at this bill, the more they decided that it would not fix anything and so the markets simple went back to trading on the days other financial news as they would any other trading day.

THE STOCK MARKETS HAVE DECIDED THAT THE BAILOUT WON'T HELP SOLVE ANYTHING!
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TexasObserver Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:48 PM
Response to Original message
2. The DOW has fallen 300 points since the bill passed.
Edited on Fri Oct-03-08 01:49 PM by TexasObserver
I'll be congressional assholes are puckered all over Washington.
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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:50 PM
Response to Reply #2
4. Hedge funds are experiencing a run
and are dumping assets to pay off.

That's what this is about. The early gains were in anticipation of the passage of the bailout. It was a good time to dump assets, and they did.
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jobycom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:51 PM
Response to Reply #4
7. Thanks. nt
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Virginia Dare Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:58 PM
Response to Reply #4
12. Some rich fuckers are losing their asses right now..
GOOD! Let them feel the pain too.
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tama Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 02:19 PM
Response to Reply #4
17. Yup
a sucker rally. Many more to come.
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TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:53 PM
Response to Reply #2
10. What's laughable is they're blaming it on the employment numbers which came out in the early AM.
Edited on Fri Oct-03-08 01:53 PM by TahitiNut
The market didn't head south until the House passed the Extortion Payout.

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TexasObserver Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:59 PM
Response to Reply #10
13. Yeah, the employment numbers have been out for at least 5 hours, and the DOW was UP 250
The spinners are trying to spin it, though.

This is going to be as big a disappointment as the Comet Kohoutek.
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GetTheRightVote Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:48 PM
Response to Original message
3. why am I not surprised at this news, hmmm
:grr::grr:
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earth mom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:55 PM
Response to Reply #3
11. Not surprised either.
Edited on Fri Oct-03-08 01:56 PM by TheGoldenRule
:grr:

And I feel sick to my stomach. :puke:
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AlCzervik Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:50 PM
Response to Original message
5. the jobs report didn't help.
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OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:50 PM
Response to Original message
6. Susan Lisovich (or whatever her name is from CNN)
Was talking to someone from Wall Street and she asked why since the bailout passed, everything was dropping and was told that Wall Street was disappointed and "wanted more."
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SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 02:01 PM
Response to Reply #6
16. Junkies always want more..are we surprised?? n/t
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tama Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:52 PM
Response to Original message
9. Still long way
to DOW 4000 and then 2000, before this might find floor - for a while.
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yurbud Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 01:59 PM
Response to Original message
14. Dems should ask for the money back
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nadinbrzezinski Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Oct-03-08 02:00 PM
Response to Original message
15. Job reports, Libor rates
nothing to see here...

:banghead:
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