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Discussion Starter #1 (Edited)
If the $700B package will help, it isn't apparent from today's trading results.

At 13:00 Central Time, Crude Oil is at $109 (up about $15 from last week), Gold is at $905, the S&P is down 35 points, the Dow Jones is down 275 points, the NASDAQ is down 66 points and the overseas markets did really crappy in the last trading session.

The reason commodities are surging is because people are desperate to put their money into something that isn't leaking like a sieve. They're not buying what the Fed and the Feds are selling; false hope and more illusions of redemption.

To top it all, now that short selling has been temporarily banned, we most likely won't see the daily yo-yo up and downs as people are now forced to hold on to stocks for a while. That will also make people think twice about taking a risk here and there, as they won't be able to unload fast at the first sign of market woes.

It's not looking good out of the gates here.

Here are today's news:


Fast forward to minute 5:40 and hear Senate Banking Committee Chairman Chris Dodd say that when the Chairman of the Federal Reserve described the situation to them, "nothing was said for 10-15 seconds and all the air went out of the room, it was that startling a description of the situation"..


NY Post:The market was 500 trades away from Armageddon on Thursday

Washington Post: Doomsayers get to say "I told you so!"

Market Watch: The end of capitalism as we know it

James Howard Kunstler: "The financial system has turned into something like a truckload of stinking carp"



Edited to add this piece of "cheerful" prediction by a prominent executive:


Washington Post: Prominent Executive says "this will all end with either riots in the streets or in a bloodbath "



A guy at one of the big financial firms told me that many traders had bought swanky houses by pledging the stocks they owned, which are now -- in the cases of Bear Stearns and Lehman -- worth pennies. He is also expecting divorce rates to skyrocket when the trophy wives discover that they can't maintain the lifestyles they thought they'd married into. And that lifestyle will definitely be changing. All the big firms are downsizing dramatically. When a financial journalist friend asked a prominent executive how this will end, he replied, "With riots in the streets." Either a riot or a bloodbath. As one trader summarized, "Pigs get fat. Hogs get slaughtered
 

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On the bright side, the Heroes season premier is tonight! :thumb:

we are headed for the fan, and we are the sh!t.


and heroes is a terrible show, all talk, no action, bad characters, bad writing, bad dialog, bad plots. its like harry potter, its crap, but people think they like it cuz they are so hungry for a good story.
 

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I cannot imagine what is going to happen when short selling of those 800 or so stocks is allowed again? Today's 3+% drop was without short selling. The crazy things is, in all of the last 6 trading days, I think there has been either a drop or gain of at least 3 percentage points. That is chaos. Does anyone know where I can find info on percentage changes of the various indices for past trading days?
 
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