DJIA opens sharply lower. Down 250+ in early trading.

MineralMan

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Wed Aug-10-11 08:35 AM
Original message

DJIA opens sharply lower. Down 250+ in early trading.

Of course, that's not really predictive for the day. It spiked down at the open yesterday, too, then recovered that with an equally sharp upturn before floating around the 11,000 mark most of the day.

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moksha

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Wed Aug-10-11 09:20 AM
Response to Original message

1. There was a big influx of money at the closing yesterday,

seemingly to try and save what was a sharp drop. All of yesterday seemed to be struggling to keep it around 11,000. The opening drop this morning is more indication that yesterday's efforts are not working. After the sharp drops in the Asian markets Monday night, I was surprised and skeptical about the gains made on Tuesday in the US. I didn't think they were durable. We will see how the rest of today plays out. One thing is for sure, it is not for the faint of heart.

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MineralMan

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Wed Aug-10-11 09:23 AM
Response to Reply #1

2. I'm not in the market at all, and don't really understand what makes

it go up and down that well. I watch it sometimes, but remain puzzled. Too much like gambling to me, so I simply avoid it for myself. If I want to gamble, there's a casino down the road a ways. I don't go there, either.

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coalition_unwilling

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Wed Aug-10-11 09:33 AM
Response to Reply #2

3. What makes it go up and down at the most basic level can be

Edited on Wed Aug-10-11 09:34 AM by coalition_unwilling

reduced to whether there are more sellers (prices going down as supply increases) or buyers (prices going up as supply decreases) in the market on a given day.

Now predicting -- correctly -- whether it will go up or down? If only I could, I'd never need to work again :)

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moksha

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Wed Aug-10-11 02:37 PM
Response to Original message

4. With less than half an hour to go, yesterday's gains are erased.

Currently, the DOW is down about 420 points. It is struggling towards the closing bell.

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