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Politics, Astrophysics, Missing

Money & Finance > Dow De Down ...
 

Dow De Down ...

It will close around 9500, possibly lower, and -400 or lower.

DOW closed at 9447.11 down -508.39. Dang!

JonDude predicts an overall low of around 8200-8400 (I think). I don't have enough experience in the market to say one way or another but I know enough to say it is certainly going lower than it is today! I think the Fed's infusion of the 1.5 Trillion into the market, which does not include the other hundreds of billions they've been slopping into the market without Congress' approval, will provide little to no relief. Then the Derivatives market with it's huge CDSs (Credit Default Swaps) conundrum will cripple the market overnight and make the credit crisis look like small potatoes, or more like a single broken chip in a jumbo sized bag.

posted on Oct 7, 2008 1:07 PM ()

Comments:

thanks for latte yum (c) theres your normal cuppa
have great day
comment by oldroan on Oct 8, 2008 10:03 PM ()
not good at all (c)there ya go girl its latte this morning

all milk good for ya bones
comment by oldroan on Oct 7, 2008 3:41 PM ()
And down it goes, regardless of that "bail out" theft of the treasury. it wasn't even a band-aid on what is happening. And I keep hearing about these "credit default swaps" over and over, on my "left wing media", Is that going to go under, if so, it won't just be the U.S. in trouble...

https://en.wikipedia.org/wiki/Credit_default_swaps

"Credit default swaps are the most widely traded credit derivative product.[3] The Bank for International Settlements reported the notional amount on outstanding OTC credit default swaps to be $42.6 trillion[4] in June 2007, up from $28.9 trillion in December 2006 ($13.9 trillion in December 2005). By the end of 2007 there were an estimated $45[5] to 62.2[6] trillion worth of Credit Default Swap contracts.

In the U.S. alone, the Office of the Comptroller of the Currency reported the notional amount on outstanding credit derivatives from reporting banks to be $16.4 trillion at the end of March 2008. (To put these numbers in perspective, the CIA World Fact Book estimated the U.S. GDP for 2007 at $13 trillion.)"
comment by ekyprogressive on Oct 7, 2008 2:30 PM ()
So,what else is new.Do we have any money left.
comment by fredo on Oct 7, 2008 1:18 PM ()

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