Shit!! Where is the bottom of this???

[southernleftylady]

Dow 9,114.50 down again 143.50

[DrDan]

1. probably somewhere between 8500 and 9000

[jschurchin]

3. I think it will be

closer to 7,000 Doc. There still is a lot of toxic paper out there that has to be valued, and it is not gonna be pretty.

[BootinUp]

2. Hard to say at this point.

Could be a lot lower I guess like sub 8500.

[DJ13]

4. Wont be a bottom until the government stops preventing real capitulation

Need a day so bad everyone can see the market has collapsed.

These little (on a % basis) down days are only a slow grind that wont accomplish anything.

[mikelgb]

5. Zero

i don't think it can go negative

[liberal N proud]

6. Somewhere on the other side of an Obama victory

[a la izquierda]

7. Anyone tell me what the deal with the dollar is?

I went to the bank in Mexico and took out $3000 pesos (roughly $300USD prior to, um, the other day). Statement showed around $9400 MX. Went to the bank yesterday and took out $600 MX. Statement showed more than $10000 MX. WTF? Did not make a deposit. I swear. Checked my statement today, and sure enough, it recorded all the withdrawals, and is still showing over $1000 USD in there.

[kurt_cagle]

17. Everyone is running to T-Bills

The run on the various funds has meant that people are sitting with cash, and they are depositing it into t-bills as fast as they can because those are supposedly "safe" investments (even though at this point they actually have a slight net negative return on investment). This means that the ForEx markets are just going insane and dropping like crazy (keep in mind that foreign investors have to move funds out of US markets into t-bills before they can convert those into cash).

I think the effect on this as that temporarily, at least, if you're getting US funds into foreign accounts, it's supercharging those funds. Same thing's happening up here in Canada - I received a check from the US for $5000, when I converted it, I found that it had become $5400 in Canadian funds (Canada was a little shy of parity two months ago, which should tell you how fast this is happening).

What worries me is that I don't see this being a long term event. If the economy continues to collapse, foreign investors in particular are going to try to get out into their own currencies eventually, and when they do, the forex rates should shoot back up.

[TexasObserver]

8. It's probably got another thousand points to drop, give or take 200 points

And it will probably not lose that much until some time in the future, days or weeks.

[galileoreloaded]

9. Dow 5800.

[tuckessee]

10. The bottom will be 3,500.

May take a couple years to get there.

[Better Believe It]

16. 3,000 before thanksgiving

Just a guess.

[Better Believe It]

22. Let Me Change That .... 3,000 before Halloween

[gopbuster]

11. The 200 month exponential moving average that sits around 8775 level

as of the other day, is what the big boys are looking at short term as support. The 200 month simple moving average is sitting in the 8400 - 8500 area. This will be another area it could go to before finding support. These are only SHORT TERM bottoms for now and will have to be reassesed if it can recover there.
My info shows Monday could be another bad day (won't go into details but is based on technical projections.)

We are in oversold territory and the harder it gets stretched the harder it will pop when it goes.

Bottom line it will drop until the buyers sitting on the side lines decide to accumulate.

These are the most likely areas where they will start finding real values in individual companies for now.

[gopbuster]

14. Here is a chart that shows the reliability of the 200 Month moving average

as a historical indicator: notice where we dipped below in the great depression and in 1974 I believe.


scroll down at this site. Also is a good article

http://www.contraryinvestor.com/2008archives/moaug08.htm

[malaise]

12. I noticed that GEM$NBC has removed the index from the screen

Guess they don't want it to fall below 9000 while McInciter is speaking.

[VWolf]

13. 7,000. Bet on it.

If you actually HAD any money left to bet.

[DemoTex]

15. I'm so glad I bailed in August. Just like I did in August 2001.

BTW: I'm not market smart. Just incredibly lucky.

[WallStreetNobody]

18. Credit markets are still dead

I work for a credit focused hedge fund and the credit markets are not getting any better, there is absolutely zero confidence throughout the system right now and governments all around the world and the US have created the "moral hazard" by essentially proving they will bail the markets out so no one is ready to take further hits yet. If you're a long term investor I do think its a good time to buy but be prepared for some potentially ugly paper losses. The markets aren't going to get better any time soon, maybe a few short rallies but in the medium-term there is just way too much CDS to unwind and various CDO/MBS exposure that needs to be brought down. The $700bn fund will help a little once its up and running but only if its accompanied by some recapitalization to the banks - via public or private money (hopefully the latter).

[leftofthedial]

19. the bottom is 0.

[Horse with no Name]

20. When they reach the bottom of every purse and wallet in Middle Class America? n/t

[stray cat]

21. Supposedly the stocks haven't begun to fall compared to if the credit really freezes up

then watch out....This is nothing if we are unable to prevent a credit freeze.