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The DOW dropped 191 points today....

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whistle Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:34 PM
Original message
The DOW dropped 191 points today....

Dow Jones Industrial Average 15 Apr 16:20 10087.51 -191.24 -1.86%


It was up around 10800 last week, so it took a plunge of over 700 points this week for a drop of almost 7%.

Every other market index was down also. <on another DU post>

Where is the DOW heading, how far down will it plunge, how fast will it dive? Pretty heady questions to which nobody, especially the experts, has an answer from what I've been able to determine.

Any DU insights? Post away!
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Dogmudgeon Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:34 PM
Response to Original message
1. We're DOOMED
Doomed, I tell you!

--p!
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Deja Q Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:45 PM
Response to Reply #1
12. It won't crash. Everybody knows that the holders of our debt won't be
very happy if Bush allows our economy to crumble.

And those who hold the debt are very powerful too.

If/when the economy goes, it will be calculated. Now isn't the time.
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ProudDad Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:34 PM
Response to Original message
2. Yipeeeeeeeee
When the DOW goes down, that's GOOD for most of us...
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alittlelark Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:37 PM
Response to Reply #2
4. OOOOkay....
what are you smoking?
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Johnny Noshoes Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:41 PM
Response to Reply #2
9. Most of Us?
Even some of us "little people" have money invested in 401K plans that no doubt lost money today. Believe me I NOT EVEN close to being close to wealthy. Lots of workers have money invested in these plans and now regular people are hit by bad days like today.
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AlCzervik Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:59 PM
Response to Reply #2
18. no it's not, most of us have 401k's of some kind
and a lot of us got killed when the tech bubble burst a few years back, no this isn't good for many of us.
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Name removed Donating Member (0 posts) Send PM | Profile | Ignore Fri Apr-15-05 09:06 PM
Response to Reply #2
20. Deleted message
Message removed by moderator. Click here to review the message board rules.
 
B Calm Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:36 PM
Response to Original message
3. The Bush Economic DISASTER continues...
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Me. Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:38 PM
Response to Original message
5. Any Predictions
for Monday's opening? Will the calvary come to *'s rescue or are we going into freefall?
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Betty Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 09:54 PM
Response to Reply #5
24. three triple digit losses in a row
I think there's quite a bit of momentum here. going down....next stop, working till you're 90.
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Zynx Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 09:57 PM
Response to Reply #24
25. Momentum investing only works for a couple weeks.
The whole idea that the stock market follows momentum is bullcrap. It is a very disproven idea. For instance, what did 9 down days in a row lead to in 2002? A 499 point rally and eventually our deliverance from Dow 7200.
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Alpharetta Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:38 PM
Response to Original message
6. As soon as Bush got his 2nd term
I moved my retirement account into euro denominated bonds.
BEGBX has been holding nicely.

Bush has no integrity. Just like Nixon hosed the economy by devaluing the dollar and screwing investors, so will Bush. The Chinese and Japanese will be furious.
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enid602 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 10:46 PM
Response to Reply #6
29. diversification
I put 40% of my IRA in T Rowe Price International Bond Fund and various international stock funds.
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BrainRants Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:39 PM
Response to Original message
7. Robert Reich on the Majority Report on AAR right now
"anyone trying to sell a Social Security plan that invests in the stock market right now should find themselves another time in history to sell that snake oil"

...or something like that

I love this guy, and he happens to know how to create a healthy economy.
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Auntie Bush Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:46 PM
Response to Reply #7
13. I guess bush will be counting by 2's for his 60 day tour of 60 cities.
I wonder what number he is on now? What excuse is he going to use to go back to Crawford or do some hard work in the White House?
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smurfygirl Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:41 PM
Response to Original message
8. hell, it can keep going and going down
Some guy on NPR Tuesday was talking about this and said we are headed for a depression. Well, who isn't depressed right now.
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DemonFighterLives Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:42 PM
Response to Original message
10. Maybe I'm a pessimist
But I've been thinking a collapse was coming for 10 years or so. The numbers seem artificially high and only the rich get richer, the rest of us lose and pay fees to boot. :scared:
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Career Prole Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:43 PM
Response to Original message
11. So, the investor class must tighten their Gucci belts
(I dunno, does Gucci make belts?) and learn to get by on less.
If they need any tips on handling such a turn of events they may ask the working class, and dependent upon the color of their money we may advise them, on a consultant basis, long-term contract only.
:evilgrin:
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Lars39 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:47 PM
Response to Reply #11
14. Get out the hole punch!


The rest of us will be wearing clothes line. :(
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Skip Intro Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:51 PM
Response to Original message
15. something big is about to happen, and word has leaked?
we haven't heard about "it" because "it" is the vote stealing story the US press is about to break wide open?

just speculatn'
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stillcool Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:56 PM
Response to Reply #15
16. oooh what a tease.......n/t
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Lone Pawn Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 09:08 PM
Response to Reply #15
21. Keep dreaming.
It's just shaping up to be a bad week or two for earnings, along with higher rates and a continually high price of oil. Nothing special here, just fear of an impending economic 'soft spot.'
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whistle Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 08:57 PM
Response to Original message
17. Prediction: Monday's DOW at opening will plunge 80 points...
...in the first 60 minutes, there will be mad dash efforts to keep it from plunging to below 10,000, but it will close around 9,950 to 9,980.

After that psychological barrier is crossed, the numbers will start to show major profit corrections and adjusted forecasts for the next three quarters and these will all be off by earlier figures that were bounced around before the election last November.

By mid to late in the week everyone will be talking about an economic slowdown and by next month the outlook will be for another recession.
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Lone Pawn Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 09:09 PM
Response to Reply #17
22. Really? I think it will start with a spike,
and what happens afterwords will depend on what the day's numbers are like.
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Zynx Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 09:59 PM
Response to Reply #17
27. Even another recession won't send the Dow down very much.
Most of the correction preceeding 2001 had to do with a multiple contraction rather than economics. We were simply coming from high multiples. As for going below 10,000 being significant, that is horsecrap. We violated the 10,000 level both ways SEVERAL times last year with no consequences.
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Cleita Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 09:03 PM
Response to Original message
19. What took it so long?
Looks like Wall Street is beginning to realize that things aren't all rosy. No amount of covering up the truth by Bush's damage control and propaganda squad will be able to cover up a drain in stock values that is very real.
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Hardrada Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 09:29 PM
Response to Original message
23. Be afraid, be very very afraid
Doesn't sound that good but I am not sure how much I am affected.


:fear:
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Betty Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 09:58 PM
Response to Original message
26. what about gold/precious metals?
anyone know if there are good mutual funds for that sort of thing or is that a bad idea in general.. i have never invested in those, always funds that invest in stocks and bonds. I'm wondering if I should hedge my bets.
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tabasco Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-15-05 10:09 PM
Response to Original message
28. The only thing propping up the Bush economy ...
is spending on the war machine.
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