Next Stop Dow 11111

Hiram · « **Reply #135 on:** September 15, 2008, 09:55:21 AM »

Quote:

Hiram said:
Down 5% at least.

Not as bad as I thought - so far anyway.

Panic over!

DruulEmpire · « **Reply #136 on:** September 15, 2008, 03:29:33 PM »

Panic back.

I'm surprised, frankly, by the continuing resilience of my 10570-11800 bracket. For a while it looked like it might crack on the upper end, as daily closes edged near 11800 and intra-day highs momentarily exceeded it. But come the close of each day, it held -- and now, I have to see whether it will refrain from plummeting another 340 points.

AZWolf · « **Reply #138 on:** September 16, 2008, 05:15:33 AM »

I earn money today in Euros mostly. But my life is in dollars.

DruulEmpire · « **Reply #139 on:** September 17, 2008, 10:19:52 AM »

Okay, so ... duly noted, AZ ...

It's below 10800 right now. I accept the challenge to my bracket.

Hiram · « **Reply #140 on:** September 17, 2008, 03:10:38 PM »

OMG

10,609.66 -449.36 -4.06%

DruulEmpire · « **Reply #141 on:** September 17, 2008, 03:43:10 PM »

It's a bad week when the Dow loses over 950 points over the course of two of the first three days.

I started the 10570-11800 bracket way back on July 22, so it has managed to last 57 days -- which in these volatile times I feel pretty proud of. Right now we're less than forty points from the bottom of that -- but then you have to recall that the day I announced it we closed at 10602.50, which was even closer.

I also have to say that this thread has been a journey of social discovery. Hiram, of course, has been a good friend to it, but I have also appreciated the commiseration of pedonbio.

This thread has also taught me new respect for mastert. He warned way back on the top of page 3 of this that this might hit 9999, and that could still come to pass. He doesn't post often, but when he does, he's worth a look-see.

pedonbio · « **Reply #142 on:** September 17, 2008, 04:04:57 PM »

Ages ago one of Lyndon Johnson's economic advisors made a private joke: The only difference between socialists and Republicans was that socialists wanted to give the government both profits and losses; Republicans wanted to keep the profits and give the government the losses.

I didn't think it would become official policy. It has.

SwitcherX · « **Reply #143 on:** September 17, 2008, 04:10:02 PM »

10000 will be a big pstchological level. If it breaks thru and can stay under it, it could trigger a sell-off.

BarnacleBill · « **Reply #144 on:** September 17, 2008, 04:16:27 PM »

Or worse... a walk-off.

DruulEmpire · « **Reply #147 on:** September 18, 2008, 11:52:45 AM »

It's beginning to look like I'm going to have to surrender to mastert any hour now --

DruulEmpire · « **Reply #149 on:** September 18, 2008, 02:18:17 PM »

I'm more a Chan fan, I would count on him to hurt me in a nuanced and/or glancing way, just to keep me at bay -- Chuck on the other hand might pulverize my trachea.

Anyway, I think I have to thank Hiram's country today for allowing my bracket to live on today to fight for another 24 hours. We were down around 10500 earlier, but now the UK seems to be helping to make a boost possible, by halting short-selling till next year. That plus a lot of "plans" getting discussed seems to be reassuring the market to the tune of 11019 plus change.

I notice a slight irony to this. One of the favorite McCain TV ads flashes pictures of various Democratic Congressmen, seeming to fairly count on fuzzy public recollection of them -- but not only are Dodd and Reid clearly visible, but so is Schumer -- and Schumer is one of the pols who's been offering a plan which sounds pleasing to the market's ear. If Schumer's suggestion is sound and useful, that'll put a whole other spin on the ad ...

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