Dow 12,040.39 -214.60 -1.75%

[nadinbrzezinski]

We are this close to that psychological barrier...

Tomorrow, or will the plunge protection team get into action?

[TahitiNut]

1. February employment statistics come out tomorrow. Watch for blood on the exchange floor.

:shrug:

[nadinbrzezinski]

4. uuuh boy... so wear hip boots if going in there

what amazes me is how little attention many folks are paying to this story

So, I don't have money in the market

Right. but the market is telling about where the economy is going... and it ain;t looking pretty. It is kind of a late indicator

[TahitiNut]

20. Well, we now see the DJI busting down below the 12,000 'floor' with the employment release.

How lowwww can it goooo? Every major equity index is DOWN, DOWN, DOWN ... again.

[marmar]

2. The Nikkei is down more than 400 in the few hours it's been open.....

Let the games begin.

[nadinbrzezinski]

5. Indeed, the Nikkeo's lost quite a bit over the last two weeks

remind me, their economy has not recovered from the 1990s crash

[KharmaTrain]

18. Asian Exchanges Follow What Happens Here

A big loss on the Nikkei or other Asian exchanges tends to be a response to a bad day on Wall Street, not the other way around. Since the U.S. is their major exporting market, any tumbles of the dollar or other economic messes will echo over there. The market to keep an eye on is Frankfurt...the major European exchanges now are calling the shots as the dollar fades and the Euro gets stronger and stronger.

I predicted the market would bottom at 11,500...and that was predicated on all the garbage of "big shitpile" or the mortgage crisis would have passed through and some "rescue" or other plan would be put into place to prop up the banks. So far such tactics have failed and the debt crisis has gotten worse...threatening to spill over into credit cards...and if that happens, look out below.

[sicksicksick_N_tired]

3. Wall Street stubbed its toe,...

,...on our asses.

Let's move out of its way, shall we? }(

[cureautismnow]

6. When Black Friday falls you know it's got to be...

Don't let it fall on me. :hide:

[Prefer]

7. I gotta take a Zappa Crappa...

I need Plook protection

[Tandalayo_Scheisskopf]

8. Hate to say it, but...

I am gonna enjoy seeing the market break through that 12,000 resistance. It's tough medicine time and long overdue.

A lot of people are gonna have to face their denial.

[A HERETIC I AM]

14. It already broke 12,000 in January

And tested a bottom at 11,500 twice.

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=indu&time=5&freq=1

[Tandalayo_Scheisskopf]

17. Over a longer run...

Smoothed out a little, that's gonna be a classic head-and-shoulders.

[femrap]

9. A couple of weeks ago, I

met with 3 of my college buddies...had not seen them for 35 years. (That sounds so looooong ago). Anyway, these 3 college-educated women were absolutely OBLIVIOUS to the world around them. One of them works for a major insurance company on the financial side and she said, 'Oh come on.
The market will go right back up just as it always has. What's wrong with you? Don't you own stocks...you'll never get ahead!'

I was shocked. I told her my money is in CDs at a variety of banks and credit unions. She laughed at me for being stupid. I told her that I did not take pleasure in saying, 'I told you so.'

Shit is gonna hit a big fan. Ben can't keep printing $$$$....the $ drops and we get inflation. Look at food prices already.

Commodity OPTIONS look to be the risk that is worthwhile.

[selador]

11. in the long run

we're all dead.

but seriously. i have owned stocks since i was 18, and i always will, but clearly there are times to modify exposure.

the time to sell some was not now, it was 2000 dow points ago.

there is always value to be found, and always ways to hedge and take advantage of bull markets in commodities, currencies, etc.

but there has never been a 20 yr period in history where dollar cost averaging into a basket of stocks has not been a good idea.

i love bear markets though, because shorting is fun, and there are always stocks that get overdone and offer good value on the long side.

[femrap]

13. So are you long wheat? nt

[selador]

15. kind of

i've been long some DBA for a while, which is a ETF of commodities.

i basically add to my core position on weakness, and sell into strength. been doing that since the ETF had its introduction

i never trade wheat itself (futures)

i do trade corn futures, but wheat is too whippy and volatile for my taste

[triguy46]

10. The plunge protection is automatic isn't it? Not so reassuring.

[Blue_In_AK]

12. We lost about 20% of our retirement money since last year.

Today my husband finally had enough and put took his IRA money out of the stock market and put it in a money market account or something (I don't understand ANY of this stuff), thankfully before this latest plunge. This is rather brutal on us older folks who don't have decades to sit around while the stocks come back up. Our portfolio manager says things are not likely to get better until after the election. We won't be making much money over the next few months, but at least we'll stop hemorrhaging.

Thanks, George!

[alittlelark]

16. We put 70% of $$$ in overseas currency funds and are doing VERY well.

Sad that I have to bet against my country...... BUT They Bet Against ME!!!!

[malaise]

19. Well markets across the globe are in chaos this morning

So it's looking good.