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Thread: Whooooa Nellie.....

  1. #1
    Olympic Champ RYou's Avatar
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    Default Whooooa Nellie.....

    Not going to be a good day on Wall Street tomorrow. The Asian and European markets tanked 5-7 % today which will drive the US markets in the AM. The Dow and S&P futures already indicate significant reductions for tomorrow, off about 5%. Just wait till everyone in the market wakes up watches it sink. Still, not likely to come close to Black Monday of '87 when it tanked over 22% in 7 hours.

  2. #2
    Olympic Champ RYou's Avatar
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    Default Re: Whooooa Nellie.....

    Japan drops another 5% today a top 7% yesterday. Europe only down 1% today. Still, today will likely be the single largest drop since 9/11. The question is.....will she go -10% to put the year at -19% and -23% since the August record high?

    FWIW - 9 of the 10 largest stock sell offs exceeded 40% of the DOW value.
    Last edited by RYou; 01-22-2008 at 06:18 AM.

  3. #3

    Default Re: Whooooa Nellie.....

    Its pretty early for it to be making a rebound (up from -420 down) could be bad news for the evening as the foreign markets close way down again today.

  4. #4
    Olympic Champ RYou's Avatar
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    Default Re: Whooooa Nellie.....

    The fed cut the prime 3/4% before the opening bell trying to stave off the collapse. The market responded by leaping 400 points. It's 11:30 and the loss is a mere 140 off the DOW......time to watch where it heads this PM. If it holds, Asia and Europe should rally big time tomorrow.

    PS - that was an unscheduled act by the Fed, which was not to meet and decide until next week. By seeing what the foreign markets did on a day the US was closed, it gave them an opportunity to save the DOW one big loss day - maybe.

  5. #5
    Olympic Champ RYou's Avatar
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    Default Re: Whooooa Nellie.....

    Asia responded favorably to the federal rate cut. European markets are up. Several foreign banks say the cut is not enough. The fed meets next week and the consensus is they will chop another 1/4 or 1/2% off the rate.

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