Debt Limit Bill passed - DJIA still falling like a rock

[FreakinDJ]

what does that tell you about TeaFarty economic policy

[Ruby the Liberal]

1. I hope the Dow plows through 12,000 today

At 12,015 right now. Was 12,600 3 weeks ago...

[FreakinDJ]

3. Currently plowing downhill

ya I have money invested

[Ruby the Liberal]

8. So do I.

But I don't give a shit right about now.

[RebelOne]

17. Fortunately, I don't. I was laid off my job in 2010.

The stock market was tanking then so since I was already collecting SS, I cashed in my 401K and IRA funds. They are safely tucked away in the bank. I am earning a pittance in interest, but at least I am not losing money. Every statement I got from my IRA and 401K showed a minus. So before they went down any farther, I pulled the money.

[Fearless]

11. 12004 and falling.

[FreakinDJ]

20. 11,963 and falling

[Fearless]

34. Markets close down 2.19% (DJI), 2.56% (S&P 500), and 2.75% (Nasdaq)

Gold up $34 and silver up $1.28...


This looks like only the beginning.

[elleng]

2. Look at this chart. Fall occurred before 1:00 p.m.

'crept' up after that.

http://markets.on.nytimes.com/research/markets/overview/overview.asp

Lets not be alarmist, please, and give the markets a few days.

[FreakinDJ]

5. Even Blitzer/CNN is commenting the DOW is falling

[elleng]

6. 'EVEN' Blitzer??? We follow that 'sage' WHY?

I'll wait for PBS' Nightly Business Report, thanks!

[FreakinDJ]

10. Please stop shilling for Wall St

PBS is going to point out because the Committee will still be arguing details of Tax and Cuts Wall St still doesn't feel expenditure/job creation is warrented at this time

[elleng]

13. 'Scuse' me, I'm not shilling for anyone.

I invest and follow the markets, out of necessity, largely to be informed.

[Purveyor]

4. Gold is up $20.03 @ $1641.12 eom

[elleng]

7. That's a natural phenomenon, when things look 'bad,'

but I suspect its aggravated by 'new' gold marketeers.

[Ruby the Liberal]

9. "look" bad?

[elleng]

15. Yes, wars and such.

Gold historically thought of as safe haven.

[indurancevile]

21. did we get in a new war since yesterday?

[nadinbrzezinski]

12. It just went through the 12000

[rhett o rick]

14. The Dow goes up and down. The savy insiders make money, the public gets taken.

When will the public learn they cant beat the Wall St. game.

[elleng]

16. Individuals can't 'beat' it, but can be informed

and invest wisely, like with some of the 'savy insiders.'

[rhett o rick]

18. I dont agree. Some of the "informed" public happen to make money.

Just like the lottery. The market, individual stocks, are manipulated. You are not investing in a company. You are betting on the performance of the price not the company. They are not necessarily related.

Good luck.

[elleng]

23. Mutual funds.

Thanks

[rhett o rick]

24. Again, good luck. nm

[Warpy]

19. It tells me a lot of small investors aren't stupid

and know the title of that bill should have been the Depression Bill.

Obama was damned if he did and damned if he didn't agree to this shit.

[Fearless]

22. The big three are all off by about 2% now.

The world markets are down between 1-3%

[Ilsa]

25. I sold most of my equities a month ago in case I needed to cash out my IRA.

Hubby was laid off, and I didn't want to be selling stocks and mutual funds at 60% of current value if I needed them to make the house note.

[Myrina]

26. Yeah, WTF ... I am watching my 401k bottom out ...

:( :cry: There wasn't much in it to begin with, but DAMMIT!! :cry: :(

[onenote]

27. it must be a new 401K it its bottoming out with the market at 11970

Where was it 11 months ago when the market was 2000 points lower than it is right now?

[Myrina]

28. Yeah, it's pretty puny.

I've only been eligible for about 16 months and can only afford 4% of my salary ... still, it's depressing as hell to see what little I have been able to contribute, piss away.

[elleng]

29. For those interested in facts, Markets today:

http://markets.on.nytimes.com/research/markets/overview/overview.asp

Dow lost about 100 points each of 3 or 4 days last week.

[nadinbrzezinski]

30. They showed more than 29 points right now on the MSNBC

TV machine. You say they are lying?

I guess Market wach is also lying

NEW YORK (MarketWatch) — U.S. stocks ell hard Tuesday f, prolonging an already lengthy losing streak, with Wall Street on uncertain footing about deficit moves ahead and a likely stall in the recovery.

The just-ended battle over hiking the U.S. debt ceiling means the government avoided default, but also rattled investors, with two of the three benchmark indexes poised for their longest losing stretch since October 2008.




“This debate has left a cloud of uncertainty over the market in terms of what it means. The good news is we’re not going to default, the bad news is we don’t know what is coming out of Washington. There’s a loss of confidence and a rethinking of the profit outlook going out a few years,” said Nick Kalivas, equities and fixed-income analyst at MF Global.

http://www.marketwatch.com/story/us-stocks-lower-on-economic-growth-concerns-2011-08-02?siteid=yhoof

[elleng]

35. Sorry, nadin, my mistake. Not saying anyone lying.

http://markets.on.nytimes.com/research/markets/overview/overview.asp

[nadinbrzezinski]

37. No problem

but yes, they fell.. and fell hard. The Recession word is now being used. I can't wait for the Depression word to be used. Recession+ austerity= not good

[FreakinDJ]

32. GOP/Wall St. really needs to get a better quality of Shills

Your looking at the S&P index not the DJIA

DJIA lost over 250 points today

[elleng]

33. My mistake, Dow down 32.9%, 266 points.

I would appreciate not being called names. Freaking bullies do that, imo.

[Fearless]

36. That's 2.19% ... 32.9% would have triggered a market shut down dozens of percentage pts ago.

[elleng]

38. So please explain these line items:

1,254.04–32.90–2.56%

http://markets.on.nytimes.com/research/markets/overview/overview.asp

[Fearless]

39. That is the S&P 500...

It's current number is 1,254. It dropped 32.90 points today. A total loss of 2.56%. I detailed the all the major relevant indicators up on post #34 if you're interested. :)

[Ruby the Liberal]

31. Holy cow! 12,8 with 3 minutes to close.