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Fideli Certa Merces
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http://biz.yahoo.com/ap/081024/wall_street.html

Stocks Head for Blistering Fall on Recession Fears, Dow Futures Down 550- AP

Should be an interesting day. Usually when a circuit breaker is hit it triggers panicked selling when it reopens. We might hit the 1100 circuit breaker shortly after. :eek:

There's a really good chance we'll hit the 2nd circuit breaker fairly quickly even without panic selling (the panic selling will just make it worse). All of the sell orders that are built up and haven't been accounted for since trading was halted with the first circuit breaker are going to hit like a tidal wave as soon as trading resumes.

Buckle up and hold on :(
 

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http://finance.yahoo.com/tech-ticker/article/100875/Black-Friday-Complex-and-Amazingly-Strong-Forces-at-Work?tickers=^dji,^gspc,^ixic,SNE,EWJ,SPY,DIA

Black Friday?
Complex and Amazingly Strong Forces at Work
Posted Oct 24, 2008 09:52am EDT by Aaron Task

Friday is shaping up to be a historic day, as major markets plummeted across the world and U.S. futures were halted after hitting "limit down" levels.

"The forces at work this morning are complex and amazingly strong," writes Art Cashin, head of floor operations at UBS. "It could be a selloff on the order of 1000 to 2000 points on the Dow [but] a sudden reversal is always possible."

Cashin, among others, has been warning about the possibility of a retest of the market's October 2002 lows of Dow 7300 and S&P 768. The recent lows of Dow 7774 and S&P 840 are the first levels of "support" traders are watching.

Among the high-, umm, low-lights of what is shaping up to be a very Black Friday:

* Japan's Nikkei tumbled 9.6% to its lowest level since Spring 2003 following Sony's warning and amid general fears of a global recession. Major markets in Hong Kong and South Korea also plunged.
* European markets plummeted after the U.K. said economic activity contracted by 0.5% in the third quarter and Daimler essentially withdrew is guidance for the coming year. The British pound suffered its worst decline since 1971.
* Russia's Micex tumbled 14% a day after S&P cut the country's credit outlook to negative from stable. Regulators suspended trading and don't plan to reopen until Tuesday.
* Credit market indicators such as Libor, which had been improving in recent days, reversed course and rose again as banks remain very wary to lend, even (or especially) to other banks.
* Commodities plunged: Oil slid below $63 per barrel as OPEC's production cut failed to allay concerns about demand destruction. Gold fell sharply as the dollar rallied vs. European currencies, although the greenback was weak vs. the yen.

The strength in the yen reflects an unwinding of so-called carry trades; bets made by speculators using borrowed yen. The carry trade was used to finance bets on assets worldwide of varying types along the risk curve. Now, those bets are being unwound as capital seeks a refuge, which is why the yen and Treasuries are about the only assets rising right now.

As trading gets underway, some players are noting the levels that trigger the NYSE's circuit breakers, which halt or suspend trading depending on the time of day and magnitude of the decline.
 

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Home sells are up five percent thou, so tommorrow we might have another gain in the market.

PROSHARES ULTRASHORT is also up 26 bucks right now. I made my daily goal as a daytrader because of that this morning, so I'm already out of the stockmarket for the day.
 

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Say no to NWO PLEASE!
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I'm not sure that today is going to be such a bad day.

The markets have been doing crazy things, last week I predicted a huge loss, and it looked like it was going for it, then they ended near par.

Look at yesterday, down early morning, up slight in afternoon.

Just to hard to tell, not even worth looking at any more other than to know what its at.

We all know we are in big **** no matter what the stock market does.
 
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