It's Freakout Friday

[BooScout]

Looks like Capitulation Day may be here. The Nikkei closed down 9.6 percent. Europe and the UK have just opened and are plunging......and US Futures are plunging. Hold on to what's left of your wallets because this one is going to be uglier than it already is.

[FedUpWithIt All]

1. Geez, Europe is looking really bad.

:scared:

I cannot believe all the things we have witnessed in the past few years.

Interesting times. Shit.

[BooScout]

2. Worst 5 days trading EVER.

No good news from me this morning.:-(

[Kaleko]

8. US to temporarily insure all deposits - Wall Street Journal

Just saw that on CNBC.

Good move. Also, the recapitalization of banks like the Brits are planning, is what most economists around the world recommend, and Paulson is apparently implementing it.

We are in uncharted territory as world citizens, that's for sure.

[nadinbrzezinski]

9. Hankie was thinking of 3 weeks,

this is going to move during the weekend, and I will not be shocked if the market does not open

[tavalon]

32. Yeah, I'm with you. Close the banks and the market tomorrow and don't open them again until Wed

[brettdale]

3. If the US market goes down big time again on friday

There will be chaos, wanna bet that Bush might somehow use this to try and cancel the election?

[Kaleko]

11. No. All bets are off. The Bushies have lost control.

[tavalon]

33. You think he wants to keep this, nope he's gonna tuck tail and run for Paraguay

[BooScout]

78. Anyone think the Dow will drop below 7000?

:hurts:

[NeoTheo]

4. I guess this is the bailout at work.

Was the bailout designed to bailout money from our pockets before the market crashed and there was none left in our pockets to bailout.

[nadinbrzezinski]

7. The moneys have not bee touched yet

I suspect that they will be redirected into nationalizing banks and will be emergency assigned during the weekend.. but TARP has not even started

[NeoTheo]

10. And nationalizing the financial sector is what this is really about

Friendly fascism at work for you.

[nadinbrzezinski]

12. You mean like oh FDR did?

Ok

[NeoTheo]

14. So you think FDR was a fascist?

[nadinbrzezinski]

15. No but he did partially nationalize the banks

he also *gasp* had bank holidays

So if you think that a bank nationalization is naturally fascist, you just called FDR one.

And before you say it, Hitler also did... but Hitler was out of the norm for fascist countries

[NeoTheo]

17. Son, you really need to get a clue.

But then again it really doesn't matter at this point as that time is past.

[nadinbrzezinski]

21. Well given I do have a masters in history I do have a clue

and it would be Ma'am

JUNIOR

[nadinbrzezinski]

5. Remember, shit for brains is also speaking tomorrow

he has kind of a hooverian effect on the markets any more.

So add to that...

[Kaleko]

13. Nobody wants Bush to speak during trading sessions for fear he'll spur another selloff, LOL.

[lligrd]

16. Why Does * Hate America?

If he had a shred of decency (which we know he doesn't), he'd admit he doesn't know chit and that his advisers apparently don't either.

[nadinbrzezinski]

18. Actually I can't prove it, but I suspect these days they tell him

sign here... he ain't in charge no more

[lligrd]

19. He Never Was, They Just Let Him Think He Was

Come on, no way they were ever going to let him really be in charge. It would be like handing your keys over to your 2 year old. Unfortunately, his handlers weren't that much more advanced.

[nadinbrzezinski]

20. In some respects that is the Republican management style

that said at this time I think the two in charge are bernake (who's been doing all he can to avoid the mistakes of 1920 and making brand new ones) and Paulson

[lligrd]

22. Let's See, 1 Competent Plus 1 Incompetent Leaves Us With

Zip by my math. Even a competent without the disadvantage of an incompetent would find this hard to solve. It is a correction and will go even beyond. Been in the making for years and it needs to happen (please don't take that for cheering for it because I certainly am not)but pyramid schemes almost always have the same fate and that is exactly what the market had become.

[nadinbrzezinski]

23. It is not a correction... and CNBC finally used the correct term

it is a crash...

[lligrd]

25. Yep, That Is The Beyond

But I am not even sure we have reached the correction yet. Where do you think the correction point is or was?

[nadinbrzezinski]

26. my number was 8500... right now fibonachi watchers are saying 7800

it is not pretty

[lligrd]

29. Then It Is Still A Correction.

Perhaps a crash to a correction? I expect it to fall beyond a correction, which is more in line with the watchers I suppose,e since I agree with your correction.

[nadinbrzezinski]

30. It is a crash, due to the amount it has lost in a year, close to 40%

just has been in slow motion... oh that is 5000 points, and 20 % just this week

[lligrd]

36. What Do You Call It When It Goes Up Just As Ridiculously?

I call it a scam.

[nadinbrzezinski]

39. a bubble

[lligrd]

50. A Nice Term For A Scam

and it has burst.

[nadinbrzezinski]

52. and the technical term to boot

[lligrd]

59. Actually, The Technical Term "To Boot" Means To Start Up

:rofl:

[BelgianMadCow]

6. Brussels stock exchange (BEL-20) opening -7 %

http://www.beursduivel.be/koersen-bel20.index

[sharesunited]

24. No, this is Capitulation Eve. Monday is when everything goes to debris.

[melody]

27. Well, this sound as bad as possible - so shall we NOW shoot ourselves?

I'd be interested in your collective thoughts on the appropriate time to check-out.

[nadinbrzezinski]

28. My dad went through the holocaust, that is as bad as it gets

his view is quite philosophical... just keep plugging

Of course there is a nice Mexican saying

THere is no ill that last a hundred years or a fool that will gladly suffer though it

But life is changing, FAST, under our feet

And the good side to this.. there is one... not only the US, the world is lurching to the left

Neo liberalism is over... free trade is over... and for us... the American Empire is over

[melody]

31. Everyone has their own, individual level that they can deal with

So, I'm asking, if you guys truly think the world is coming to an end, I'd like a time estimate so I know
how long I have.

[nadinbrzezinski]

34. the world as we know it ended

it is over, it is done.... and we have some hard years ahead

[melody]

38. That gave me my answer. Goodbye n/t

[tavalon]

41. A world of sorts is coming to an end,

but unless you're a banker, I would hang out a bit and see what shakes out. I actually kind of want to see what America is going to look like as it balkanizes, where the lines will get drawn. Eventually, I may not be interested anymore.

[melody]

42. That's your choice. We all have to make our own. n/t

[nadinbrzezinski]

43. Five successor states is my personal bet

[tavalon]

47. As long as California, Oregon and Washington get to join with our Canadian friends

and Alaska gets to go be with her beloved putin, I'm happy. Kidding.

[nadinbrzezinski]

51. Google shadowrun, it is a game

the map is very prescient in some respects, and based on a 1980s book

[tavalon]

37. No, now would be the time to go get large bags of rice and beans

[melody]

40. I don't want to live in that kind of world ... I just don't.

So I'm opting out. I'll spend a few minutes on the board though.

[tavalon]

44. I'm sensing irony here but if I'm wrong,

please call 911.

[nadinbrzezinski]

46. seconded

[melody]

68. Of course it's bloody irony but for someone else it might not be

You guys may enjoy talking yourselves into financial Armageddon doom scenarios but there are lots of people reading your words who aren't going to post, who WILL take action based on things said. Not everyone takes these posts with a grain of salt. YOU may have one level of tolerance -- someone else might have another.

[melody]

35. Still waiting here -- I really need to know so that I can make plans

When would be a good time to just give up and throw in the towel. Anybody?

[JCMach1]

45. Russia, MICEX, DID NOT re-open

:(

Austria and Thailand halted trading

[tavalon]

48. Smart

I hope we are as smart come morning.

[nadinbrzezinski]

49. I hope the NYSE does not open tomorrow morning, or rather later today

bank holiday... we need it NOW

[lligrd]

53. Then What The Heck Will I Watch All Day?

Been slightly addicted lately.

[nadinbrzezinski]

55. CNBC.. I am sure Cramer will be a riot

[JCMach1]

58. We should be so lucky... instead I get to watch my portfolio crash

on my day off!

[lligrd]

60. Talking Heads Not My Cup Of Tea

Although I will admit to taking a sip now and then.

[nadinbrzezinski]

62. Cramer is indeed a riot

now maria bartoromo is not

[lligrd]

65. Are You Suggesting I Sip From Both

Isn't that like mixing caffeine and alcohol? Seems a bit dangerous to me.

[JCMach1]

56. DOW futures currently -152

[nadinbrzezinski]

57. it is so volatile that I'd close it

if I had the authority, and not open till Tuesday... Monday is Columbus day

[JCMach1]

61. I think that might feed the psychology at this point... markets came back a bit in Europe

I don't think it will be an up day, but a 100-200pt. drop or smaller wouldn't be so bad in this environment.

[nadinbrzezinski]

63. While my last number was 8500... so if we get there and then starts

climbing....

[JCMach1]

66. I don't see a bottom here yet...

http://finance.yahoo.com/echarts?s=%5EDJI#chart3:symbol=^dji;range=1y;indicator=ema+bollinger+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

Of course, I also think we are outside the realm of standard analysis... :(

[lligrd]

69. I'm With You

But doubt it would do any good anyway considering those in charge. Maybe we should close it until, say, the end of January 2009.

[JCMach1]

70. 2nd week in Nov. would be about right!

[lligrd]

73. Normally Yes But Not With These Guys In Charge nt

[Waiting For Everyman]

54. There's always a wild card in the deck somewhere.

I remember when Nixon went off the gold standard. I expected a crash and hyper inflation the next day, but instead, it occurred over several years, driven by very high interest rates. We still got devalued, but differently.

Just sayin' - what you'd expect doesn't always come to be, just that way.

[brettdale]

64. Can ya imagine what the media will be saying

If this happened under Clinton?

All Im hearing is that its Nancy's and Barney's and Obama's fault?

I dont think i have heard Bush*t's name get mentioned.

[JCMach1]

67. Bush sat on his ass for 1 full-year while this developed!

Obama needs to point this out.

[Waiting For Everyman]

72. I've been watching the Congressional efforts to deal with this all year,

b/c I've been trying to renegotiate or refi my mortgage since January. The Dems have repeatedly proposed laws that would've helped, but the Repubs and lobbyists take out any good provisions that would work every time. Gramm scuttled one attempt last Spring on behalf of UBS. The FHA program they passed this Summer, which took effect Oct. 1st, will help 500,000 people out of 7 million. It's a nonanswer to the problem.

Even in the bailout, the Repubs took out the bankruptcy reform. Totally nonsensical. There's no good reason to be against it. So no, this isn't on the Dems - except that they cater to the Repubs way too much.

They have been trying though = really since last Fall.

[Duer 157099]

71. There's ONE index that is up, and by 5%!

Tel Aviv! Now what does that mean???

http://finance.yahoo.com/q?s=^TA100

Hahahaha, ok, now I get it -- it means their market must have been closed for Yom Kippur!!

But it sure stood out like a sore thumb, until I noticed the date was for the 7th, lol...

[OakCliffDem]

74. And just who has been running the show while this happened?

Ronald Reagan - two terms
Bush #41 - one term
Bush #43 - two terms

and now the economy is shot.

The only solution is the get out of the Republican economic controls and put in a Democratic Administration under Obama.

[Historic NY]

75. When will the Plunge Protection Team turn off the lights?

[BooScout]

76. No need to turn them off....

No one can pay the electric bill anyway so they will be shut off.

[Historic NY]

77. 8100 what a lovely opening.....7900 673pt loss

:argh: