High volume trading still leads to Dow average decline following an opening jump

[whistle]

Dow Jones Industrial Average
9,287.73 -159.38 / -1.69%

Oct 8 12:22pm ET †
Open: 9,437.23
High (day): 9,628.07
Low (day): 9,212.55
YTD%Change: -29.98%
Volume: 200,673,746.00
Prev. Close: 9,447.11


Dow Jones Industrial Average
9,247.59 -199.52 / -2.11%

Oct 8 12:28pm ET †
Open: 9,437.23
High (day): 9,628.07
Low (day): 9,212.55
YTD%Change: -30.28%
Volume: 204,370,955.00
Prev. Close: 9,447.11


Dow Jones Industrial Average
9,228.32 -218.79 / -2.32%

Oct 8 12:28pm ET †
Open: 9,437.23
High (day): 9,628.07
Low (day): 9,212.55
YTD%Change: -30.43%
Volume: 204,967,059.00
Prev. Close: 9,447.11



http://money.cnn.com/data/markets/dow/

[Chimichurri]

1. DOW down over 220pts in the last few minutes.

[jdlh8894]

2. OMG ! 30 stocks are taking a hit !

Glad my money is invested in other places than those.

[Chimichurri]

4. That's wonderful. Maybe you should be helping out the feds and

brainstorm with the global leaders in coming up with a solution so those "30 stocks" don't contaminate the rest of the market, since your portfolio is so robust.

[whistle]

3. When was the Dow average last below 9000? Yep, under Dubya's watch...

<snip>
Dow industrials close below 9,000
Journal Record, The (Oklahoma City), Jul 11, 2002

NEW YORK (AP) -- Investors hit by yet another disappointment, this time brokerage downgrades of General Motors and Ford, bailed out of stocks again Wednesday, sending the Dow Jones industrials down more than 280 points to close below 9,000 for the first time since October.

<deep snip>
The Dow last closed below 9,000 on Oct. 2 <2001> when it stood at 8,950.59 as it was still recovering from its post-Sept. 11 losses. Before the terror attacks, the Dow had not had a lower finish since Dec. 16, 1998, when it stood at 8,790.60.

<MORE>
http://findarticles.com/p/articles/mi_qn4182/is_20020711/ai_n10155071

[whistle]

5. Dow rallies on global interest rate cuts, but will this work?

Dow Jones Industrial Average
9,476.74 +29.63 / +0.31%

Oct 8 1:23pm ET †
Open: 9,437.23
High (day): 9,628.07
Low (day): 9,194.78
YTD%Change: -28.56%
Volume: 244,479,811.00
Prev. Close: 9,447.11

http://money.cnn.com/data/markets/dow/

Story on CNN just about an hour ago:

<snip>
Emergency rate cut: 'This better work'
Will the rate cuts by global central banks eventually calm the markets down?


AMERICA'S MONEY CRISIS
Bank stocks flailing after rate cut
Treasury to sell more debt
Stocks slide after rate cut
IMF: World economy to slow sharply
Credit freeze: It's still on


NEW YORK (CNNMoney.com) -- Investors around the world have been crying loudly for the past few days. On Wednesday morning, global central banks finally gave in.

But will the coordinated interest rate cuts by global central banks finally calm the markets down?

It was clear that central banks had to do something. The Dow has plunged more than 1,400 points in just the past five days and is nearly 2,000 points lower than where it was before the record one-day point drop on Sept. 29. That's a 17.6% drop.

However, it appears investors weren't sure what to think about the rate cuts just yet.

European stock markets, which had been plunging before the rate cut, initially bounced back but then resumed their slide. The Dow, Nasdaq and S&P 500 opened sharply lower at the opening bell, moved dramatically higher and then turned lower again. That was all in the first two hours of trading.

One market strategist said the selloff is a bad sign because the Fed and other central banks are running out of ways to effectively deal with the credit crisis.

"This better work. This is the last chance," said Jeffrey Saut, chief market strategist with Raymond James Financial.
<MORE>

http://money.cnn.com/2008/10/08/markets/thebuzz/index.htm?postversion=2008100812

[whistle]

6. I should have kept quiet...

Dow Jones Industrial Average
9,374.23 -72.88 / -0.77%

Oct 8 1:30pm ET †
Open: 9,437.23
High (day): 9,628.07
Low (day): 9,194.78
YTD%Change: -29.33%
Volume: 249,550,452.00
Prev. Close: 9,447.11

[whistle]

7. I am getting a lot of posting errors on DU today for some reason

[Chimichurri]

8. same here.

[whistle]

9. Dow rise could not hold into late trading as the Dow closes down -2.01%

Dow Jones Industrial Average
9,257.15 -189.96 / -2.01%

Oct 8 4:09pm ET †
Open: 9,437.23
High (day): 9,628.07
Low (day): 9,194.78
YTD%Change: -30.21%
Volume: 458,615,191.00
Prev. Close: 9,447.11