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Stocks are going to nosedive today...

Discussion in 'Political Zone' started by Heisenberg, Oct 24, 2008.

  1. Heisenberg

    Heisenberg Pow! Pow!

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    Get ready. It's gonna be bumpy. :(

    http://money.cnn.com/2008/10/24/markets/stockswatch/index.htm

    Stocks headed for a bloodbath

    Futures point to sharply lower open for Wall Street as global markets swoon on recession fears.
    By CNNMoney.com staff

    October 24, 2008: 5:47 AM ET
    LONDON (CNNMoney.com) -- U.S. stock futures tanked early Friday as fears of recession deepened a global market rout.

    Dow Jones industrial average futures were down more than 500 points at 5:30 a.m. ET. S&P 500 and Nasdaq 100 futures were also down sharply.

    Futures measure current index values against the perceived future performance and can indicate how markets open when trading begins in New York.

    Concerns that the weak economy will crimp corporate profits pummeled overseas markets. Japan's Nikkei index tanked 9.6% and European shares plunged were down about 7% in morning trading.

    U.S. markets for the most part managed to overcome the earnings gloom Thursday. The Dow and S&P 500 both advanced while the Nasdaq slipped.

    But trading has been volatile lately amid uncertainty about how deep the economic will be and how long it will last.

    Stocks to watch include software giant Microsoft (MSFT, Fortune 500), which reported solid quarterly results late Thursday but issued a cautious outlook.
  2. BrAinPaiNt

    BrAinPaiNt Brotherhood of the Beard Staff Member

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    It has been a trip watching this.

    Ever since I bought some stock it has been up and down and up and down.

    Just watching it is funny.

    One time I am up a good deal and the next thing I know I check again and it has fallen a good deal.

    Now I don't have a large amount invested but the swing still has been dramatic at times.

    For example one day. During the AM, say by about 10:30 or so my stock had gained over $200 as everything was going up. But by 3:00 or so it had went down to where my overall was down $200. Crazy stuff.
  3. Doomsday101

    Doomsday101 Well-Known Member

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    I have heard the same thing and to add to this the Mark to market still has not been suspended only talked about and now they are starting to take about a 2nd bailout as I predicted before the 1st one passed and I'm sure they will try and send the next through the same way they did the last one and that is with no debate no expert opinions.
  4. iceberg

    iceberg detoxed Zone Supporter

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    i'd invest, but all my $ was already there. i'd have to sell to buy so now like you, i just watch and laugh.
  5. CowboyFan74

    CowboyFan74 Cowboys Analyst

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    What stocks would you target?
  6. iceberg

    iceberg detoxed Zone Supporter

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    honestly, i probably wouldn't. my big investment is low risk and i like it that way. only, i've lost 2/3rds of what the last 6 years has built up. my "bulk sum" i'd likely put aside and use about 10k to play and try to catch an updraft.

    targeting would likely be in energy / bio / medical areas i'd have to research.
  7. BrAinPaiNt

    BrAinPaiNt Brotherhood of the Beard Staff Member

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    Now would be a good time to buy

    DUK - Duke Energy
    CHK - Chesapeake Energy Corp

    If you like the energy stocks.
  8. WarC

    WarC Active Member

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    Some risky investors are buying up loads of Ford right now, as its trading very very very low and could make a very nice bounceback in 6 months to 2 years...................................................MAYBE..............................


    Stock trading is legalized gambling. :D
  9. arglebargle

    arglebargle Well-Known Member

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    Absolutely. But without the cool Las Vegas neon and showgals.....
  10. MetalHead

    MetalHead Benched

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    312 points down...I guess you like bad news.
  11. BrAinPaiNt

    BrAinPaiNt Brotherhood of the Beard Staff Member

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    I keep waiting for one specific stock to go down some more. It is only a penny stock but I want it lower so I can sell it higher later :D

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