get ready folks...market going off the deep end today

[ProdigalJunkMail]

worst GDP numbers in at least 26 years GDP down for the quarter by an astounding 5.4 percent...

Hold onto your butts...

sP

[NOW tense]

1. Lets find a bottom.

seriously every time I think we are at the bottom,something else comes up. I think we are at the bottom. I think today it will drop 300 points, and then on Monday it will go back to 8000.

[ixion]

2. we're 2000 point or more from the bottom, imo

all this hovering around 8k has been just a long state of denial. This correction is about returning to REAL value in the market, and we've not yet reached that point.

[NOW tense]

3. So you are thinking 6000 is the low?

I don't really care what the bottom is. I just want us to get to our bottom so we can head to recovery.

:)

[ixion]

4. no one knows for sure where it is... which is really the core of the problem

I've heard estimates ranging from 3500 to 7000. So we'll just have to wait and see.

I agree with you, though, I'd like to hit bottom and be done with it so we can start rebuilding. :hi:

[jazzjunkysue]

9. Same with the housing market. No more building permits until we reach bouyancy.

Right now the entire state of Florida has a for sale sign in front of it.

I'd like to see Obama pass a federal moritorium on building permits, period.

Occupy what we already have, damn it.

[madrchsod]

5. going back to reality?

about time the ponzi scheme comes to an end.

[madokie]

6. And the sooner the better

best I can tell

[NNN0LHI]

7. Green arrows are pointed upwards?

[Are_grits_groceries]

8. The GDP drop is not as bad as forecast.

It's bad, but sometimes the amount of the drop may help.

[TornadoTN]

10. GDP is a bit better than forecast, cargo is moving again

IMO, we are still not at the bottom - I estimate somewhere in the 7,000-7,500 range. Some indicators are coming in a little bit better than has been forecast and predicted, so I think we are hovering near the bottom with a little ways to go yet before we get there. 2009 is still going to be rough, but probably not as bad as some of the scenarios. 2010 is the key year.

[L0oniX]

11. If the banks are not giving loans then who cares if the wall street gamblers eat dirt n/t