Stock Market Watch - 10/24/08
Page 1 of 3 123 LastLast
Results 1 to 15 of 32
  1. #1
    CF Founder
    Points: 240,558, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 3.0%
    Achievements:
    Your first GroupVeteranCreated Album pictures50000 Experience Points
    Jeremy's Avatar
    Join Date
    Feb 2006
    Location
    Urbandale, IA
    Posts
    13,435
    Points
    240,558
    Level
    100
    Thumbs Up
    Received: 410
    Given: 355

    Stock Market Watch - 10/24/08

    S&P Futures were halted after crashing overnight. Asian markets were down nearly 10% and it looks to be a very nasty day on Wall Street.


    A program isn't built on one player and it doesn't succeed because of one player, thus a program won't fail if it doesn't get that one player.

  2. #2
    POOTMFS
    Points: 89,451, Level: 93
    Level completed: 6%, Points required for next Level: 1,799
    Overall activity: 0%
    Achievements:
    SocialVeteran50000 Experience Points

    Join Date
    Apr 2006
    Posts
    7,785
    Points
    89,451
    Level
    93
    Thumbs Up
    Received: 0
    Given: 0

    Re: Stock Market Watch - 10/24/08

    Futures hit "Limit Down".

    This could be the worst day yet.
    Maybe this will be the bottom?



  3. #3
    Speechless
    Points: 408,078, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 73.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    61,096
    Points
    408,078
    Level
    100
    Thumbs Up
    Received: 880
    Given: 613

    Re: Stock Market Watch - 10/24/08

    Sony dropped 8%. Guess they will not be selling much for XMAS.

    It is just another collapsing Friday. Time to party.


    Last edited by Wesley; 10-24-2008 at 09:54 AM.
    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

  4. #4
    Speechless
    Points: 408,078, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 73.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    61,096
    Points
    408,078
    Level
    100
    Thumbs Up
    Received: 880
    Given: 613

    Re: Stock Market Watch - 10/24/08

    Quote Originally Posted by thunderdave View Post
    Futures hit "Limit Down".

    This could be the worst day yet.
    Maybe this will be the bottom?

    The worst will be the poor people who get laid off in the fuirture with difficulty finding jobs.

    Research efforts should also be severely curtailed in near future as companies hoard their cash flow.

    Company earnings will be in the trash bin for the next quarter as they write off goodwill. Hold onto your seats.

    AIG has spent 75% of their $120B loan already.

    Buffet has paper loss $10B in last two months.


    OPEC cuts poroduction 1.5M barrels and crude then drops $4/barrel to $63.

    Gold headed down to $700/ounce. Ouch.

    I smell deflation. People who borrowed money should have waited till Jan if they could get a loan.


    Last edited by Wesley; 10-24-2008 at 09:54 AM.
    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

  5. #5
    All-Star
    Points: 34,489, Level: 57
    Level completed: 20%, Points required for next Level: 961
    Overall activity: 1.0%
    Achievements:
    Veteran25000 Experience Points
    BKLYNCyclone's Avatar
    Join Date
    Sep 2007
    Location
    Twin Cities, MN
    Posts
    1,890
    Points
    34,489
    Level
    57
    Thumbs Up
    Received: 48
    Given: 59

    Re: Stock Market Watch - 10/24/08

    My 401k is down a solid 30% already... I was hoping we had bottomed out mid October as last year's profit sharing was just deposited into my account. Can't wait to lose another chunk of that...

    The only thing that I'm enjoying right now is watching the wall street guys run around in panic. A couple of months ago these were the same guys walking around thinking that they were almost to their 100k+ end of year bonuses... The only problem with this is that my industry sort of depends on those bonuses for next year's work load. (A lot of those bonuses were being invested in apartment renovations or new homes.)

    I'm definitely in a no-win situation out here, especially since it just keeps getting more expensive to live out here. My rent went up over $400 this month, and I'm not interested in spending $500,000 minimum to buy a 1 bedroom apartment with 600 sf.



  6. #6
    All-Star
    Points: 17,921, Level: 40
    Level completed: 84%, Points required for next Level: 129
    Overall activity: 6.0%
    Achievements:
    Veteran10000 Experience Points

    Join Date
    Nov 2006
    Posts
    1,243
    Points
    17,921
    Level
    40
    Thumbs Up
    Received: 71
    Given: 0

    Re: Stock Market Watch - 10/24/08

    The S&P500 closed at 908 yesterday.

    Ten years ago on 10-23-98 it closed at 1071.

    I guess that blows the theory that stock market never has a negative return over a 10 year period.



  7. #7
    Speechless
    Points: 408,078, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 73.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    61,096
    Points
    408,078
    Level
    100
    Thumbs Up
    Received: 880
    Given: 613

    Re: Stock Market Watch - 10/24/08

    Baby boomers will have to work till 70 after this debacle: Greenspan Free Credit Theorem.


    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

  8. #8
    Starter
    Points: 9,649, Level: 29
    Level completed: 50%, Points required for next Level: 301
    Overall activity: 0%
    Achievements:
    Veteran5000 Experience Points
    hort4cy's Avatar
    Join Date
    Jun 2006
    Location
    Randalia, IA
    Posts
    715
    Points
    9,649
    Level
    29
    Thumbs Up
    Received: 0
    Given: 0

    Re: Stock Market Watch - 10/24/08

    Quote Originally Posted by BKLYNCyclone View Post
    The only thing that I'm enjoying right now is watching the wall street guys run around in panic. A couple of months ago these were the same guys walking around thinking that they were almost to their 100k+ end of year bonuses... The only problem with this is that my industry sort of depends on those bonuses for next year's work load. (A lot of those bonuses were being invested in apartment renovations or new homes.)
    I bet it is interesting being at the epicenter of this big mess. I'm sure you've probably heard lots of stories.



  9. #9
    Legend
    Points: 209,822, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 18.0%
    Achievements:
    SocialCreated Album picturesVeteran50000 Experience Points

    Join Date
    Oct 2006
    Location
    50131
    Posts
    13,909
    Points
    209,822
    Level
    100
    Thumbs Up
    Received: 439
    Given: 646

    Re: Stock Market Watch - 10/24/08

    Quote Originally Posted by CyCy View Post
    The S&P500 closed at 908 yesterday.

    Ten years ago on 10-23-98 it closed at 1071.

    I guess that blows the theory that stock market never has a negative return over a 10 year period.
    I think we're paying the price for the 90's.



  10. #10
    Speechless
    Points: 408,078, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 73.0%
    Achievements:
    SocialOverdriveVeteran50000 Experience Points
    Wesley's Avatar
    Join Date
    Apr 2006
    Location
    Omaha
    Posts
    61,096
    Points
    408,078
    Level
    100
    Thumbs Up
    Received: 880
    Given: 613

    Re: Stock Market Watch - 10/24/08

    Quote Originally Posted by BKLYNCyclone View Post
    My 401k is down a solid 30% already... I was hoping we had bottomed out mid October as last year's profit sharing was just deposited into my account. Can't wait to lose another chunk of that...

    The only thing that I'm enjoying right now is watching the wall street guys run around in panic. A couple of months ago these were the same guys walking around thinking that they were almost to their 100k+ end of year bonuses... The only problem with this is that my industry sort of depends on those bonuses for next year's work load. (A lot of those bonuses were being invested in apartment renovations or new homes.)

    I'm definitely in a no-win situation out here, especially since it just keeps getting more expensive to live out here. My rent went up over $400 this month, and I'm not interested in spending $500,000 minimum to buy a 1 bedroom apartment with 600 sf.
    The rental industry should boom in New York as people let their houses go. Heard the state economy is headed to very big trouble as tax receipts take a plunge due a depressed Wall Street. And Bloomberg gets to stay on if the term limits are changed? No one will want his job.


    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

  11. #11
    Legend
    Points: 174,241, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 3.0%
    Achievements:
    SocialVeteran50000 Experience Points
    alaskaguy's Avatar
    Join Date
    Apr 2006
    Posts
    10,204
    Points
    174,241
    Level
    100
    Thumbs Up
    Received: 6
    Given: 1

    Re: Stock Market Watch - 10/24/08

    And the price of oil is collapsing right along with the stock market.


    "If the facts don't fit the theory, change the facts." Albert Einstein
    "If your worried about falling off the bike, you'd never get on" Lance Armstrong
    "Dress cute wherever you go, life is too short to blend in." Paris Hilton
    "Money is one of the greatest instruments of freedom ever invented by man." F.A. Hayek

  12. #12
    Legend
    Points: 209,822, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 18.0%
    Achievements:
    SocialCreated Album picturesVeteran50000 Experience Points

    Join Date
    Oct 2006
    Location
    50131
    Posts
    13,909
    Points
    209,822
    Level
    100
    Thumbs Up
    Received: 439
    Given: 646

    Re: Stock Market Watch - 10/24/08

    Quote Originally Posted by alaskaguy View Post
    And the price of oil is collapsing right along with the stock market.
    Even after they announced oil cutbacks. Crazy



  13. #13
    Speechless
    Points: 271,728, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 15.0%
    Achievements:
    Veteran50000 Experience Points
    isuno1fan's Avatar
    Join Date
    Mar 2006
    Location
    Clive, Iowa
    Posts
    17,533
    Points
    271,728
    Level
    100
    Thumbs Up
    Received: 166
    Given: 38

    Re: Stock Market Watch - 10/24/08

    Certainly continues to be a very interesting economy to watch. Hoping it doesn't get much worse.



  14. #14
    Legend
    Points: 209,822, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 18.0%
    Achievements:
    SocialCreated Album picturesVeteran50000 Experience Points

    Join Date
    Oct 2006
    Location
    50131
    Posts
    13,909
    Points
    209,822
    Level
    100
    Thumbs Up
    Received: 439
    Given: 646

    Re: Stock Market Watch - 10/24/08

    What does everyone use to track the market? I used to use cnnfn but I like Google Finance because it seems to be real-time



  15. #15
    Starter
    Points: 12,224, Level: 33
    Level completed: 40%, Points required for next Level: 426
    Overall activity: 0%
    Achievements:
    Veteran10000 Experience Points

    Join Date
    Dec 2007
    Location
    Pleasant Hill
    Posts
    734
    Points
    12,224
    Level
    33
    Thumbs Up
    Received: 2
    Given: 13

    Re: Stock Market Watch - 10/24/08

    I must have missed some really bad news overnight that we didn't already know. I thought the market tanked 20% or 30% last month because of all the 'great depression' talk. Are we now headed for worse than a 'great depression' ?

    Apparently in the latest 'panic' everyone is selling everything that isn't cash in a government guaranteed account. I guess a less than inflationary interest rate is the new 'IN' thing for investors

    Commodities from oil to gold to corn and everything else are being sold off.

    Overseas stocks are being sold off.

    There are going to be a lot of panic induced bargains after this day is over. Those with Cash will have another excellent buying opportunity.

    Hint, If a company has more cash in the bank than its stock market value, something is really wrong...

    Is this all investor panic or is something borderline illegal going on here ? I can't believe this all resulted from 4% to 6% of US home owners not paying their mortgages...10% moves in stock markets without new news ?



Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
  • TV: Cyclones.tv
  • HOOPS: Iowa State vs. Mississippi Valley State
  • December 31, 2014
  • 06:00 PM