Holy Crap! Dow Jones down nearly 1,000pts!

Roland99

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 01:47 PM
Original message

Holy Crap! Dow Jones down nearly 1,000pts!

Edited on Thu May-06-10 01:51 PM by Roland99

Dow 10,164 -704 -6.48%
Nasdaq 2,238 -164 -6.82%
S&P 500 1,093 -73 -6.29%
GlobalDow 1,816 -103 -5.36%
Gold 1,199 +24 +2.00%
Oil 76.94 -3.03 -3.79%

600pt drop in the last 15-20 min!

edit: oops...copy buffer was old data...looks like a slight recovery in works.

edit: nope...my feed is whacked.

Printer Friendly | Permalink | | Top

Joanne98

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 01:49 PM
Response to Original message

1. Greece is the word

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x462532

Printer Friendly | Permalink | | Top

Subdivisions

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 01:50 PM
Response to Original message

2. -992 was the low...so far. n/t

Printer Friendly | Permalink | | Top

Roland99

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 01:54 PM
Response to Reply #2

7. I saw a -994. Looks like it's gained back about half that. Still all over the place.

Printer Friendly | Permalink | | Top

Hosnon

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 01:51 PM
Response to Original message

3. !!! Uh oh. nt.

Printer Friendly | Permalink | | Top

woodsprite

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 01:51 PM
Response to Original message

4. I had to put my bs deflectors (earphones) on here at work.

Edited on Thu May-06-10 01:52 PM by woodsprite

My cubbymates are cussing Obama up one side and down the other. They said he must have opened his mouth to talk, that's why it's sinking since anytime a Dem talks the Dow goes down.

Dipsh.ts!

Not a word about Greece, just about the "45% of the Americans who don't pay taxes". yadda yadda yadda.

Printer Friendly | Permalink | | Top

MadBadger

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 01:52 PM
Response to Original message

5. Its all over the place. Just two minutes ago it was down 700, now its down 530.

Printer Friendly | Permalink | | Top

taught_me_patience

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 01:55 PM
Response to Reply #5

8. That's the government stepping in to buy equities.

Printer Friendly | Permalink | | Top

Roland99

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 01:52 PM
Response to Original message

6. Technical levels breached, triggering intense selloff

http://www.marketwatch.com/story/us-stocks-struggle-data-retailers-in-focus-2010-05-06

Printer Friendly | Permalink | | Top

Greyhound

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 01:55 PM
Response to Original message

9. It's those evul Greeks! Imagine a bunch of proles refusing to pay for the

losses incurred by their parasites, the nerve! Why, it's just like those evul Icelanders, they refused to pay the money lost by private banks, too. I tell you, if this keeps spreading, it will be the end of the world!

Printer Friendly | Permalink | | Top

Dappleganger

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 01:57 PM
Response to Original message

10. Not surprised one bit.

Greece is the tip of the iceberg.

Printer Friendly | Permalink | | Top

Andy823

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 01:58 PM
Response to Original message

11. Yep

Those with the big bucks are selling the stuff they bought earlier at rock bottom prices, and making a killing. When the prices drop lower they will go back in and buy it up again and start the same process over. It doesn't look good, but I think it will come back up once the big money has been made and it's time to buy up the stocks again at rock bottom prices!

Printer Friendly | Permalink | | Top

Greyhound

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 02:06 PM
Response to Reply #11

13. Churning the suckers trapped in the casino by law.

It's an old game that they've played for generations.

Printer Friendly | Permalink | | Top

sabra

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 02:17 PM
Response to Reply #11

14. indeed

http://www.cnbc.com/id/36997706

<snip>

“Hedge funds look at the screen and are indiscriminately selling to lock in profits and raise cash,” said Steve Grasso, a trader on the NYSE floor for Stuart Frankel. If they survived the credit crisis and posted big gains in the last year, they and their clients are not going to take their chances navigating a foreign debt crisis, according to Grasso.

...

The good news in all of this, traders said, is that investors are still in the “buy-the-stock-back-later” mode, instead of the panic mode.

“Hedge fund investors are selling stocks like Citigroup , but telling me they will look to buy it back cheaper when this blows over,” said Grasso. “And mutual fund managers aren’t selling at all.”

Printer Friendly | Permalink | | Top

mikelgb

(1000+ posts) Send PM | Profile | Ignore

Thu May-06-10 02:04 PM
Response to Original message

12. double dip?

when I dip you dip we dip

Printer Friendly | Permalink | | Top

DU AdBot (1000+ posts)

Sun May 12th 2024, 04:44 PM
Response to Original message

Advertisements [?]

Top

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.