Get ready for a BLACK TUESDAY open

[Watchtower76]

Pre markets indicate the Dow will be down 500pts and the NDQ will be down over 80pts. This economy is in a world of hurt. Just look at the what the european markets did today.

I've said this is no joke we will see the Dow less then 10,000 within this year, we will be in this for a while and your only safe bet is Money market your mutual funds and any stocks you own, unless of course you are on the short side of things.

http://money.cnn.com/2008/01/21/news...s.ap/index.htm

[MtrCtyPimp]

You must not watch FOX News ....we are in great shape man....best we have been in a long time .....just ask Bill O'reilly

PEACE

[BigWeiner]

THis wouldn't have anything to do with Iraqi Freedom, would it?

[birdog]

Its those damn Bushes they have caused this nation nothing but shit

[poskid]

Overseas markets are notoriously volatile on days that the American markets are down. After last week's presidential address most market profiteers most likely had been hoping for a more stated plan of action. Instead they got some undecisive gobbledegook (kind of like my posts :D ). Likely causing the current escalation in the dropping markets. Personally I wouldnt worry too much about the market unless you are already heavily invested in futures...As you may be waiting a long time to sell. However this is an absolutely killer time to buy...

PK

[robby_morini]

Overseas markets are notoriously volatile on days that the American markets are down. After last week's presidential address most market profiteers most likely had been hoping for a more stated plan of action. Instead they got some undecisive gobbledegook (kind of like my posts :D ). Likely causing the current escalation in the dropping markets. Personally I wouldnt worry too much about the market unless you are already heavily invested in futures...As you may be waiting a long time to sell. However this is an absolutely killer time to buy...

PK

Its deeper than that my friend. I don't think we have seen the bottom of the sub-prime market yet. Fed Funds Rate will be below 2% before December. Some of the overseas selloff is profit taking, but more of it is the uncertainty of US economy.

Unfortunately after tomorrow's close, we will be in a true Bear Market. Hold on tight, its going to take more than a stimulus package to right this ship.

My 15 year plan for retirement just became a 20 year plan

[Watchtower76]

Overseas markets are notoriously volatile on days that the American markets are down. After last week's presidential address most market profiteers most likely had been hoping for a more stated plan of action. Instead they got some undecisive gobbledegook (kind of like my posts :D ). Likely causing the current escalation in the dropping markets. Personally I wouldnt worry too much about the market unless you are already heavily invested in futures...As you may be waiting a long time to sell. However this is an absolutely killer time to buy...

PK

Can you please explain why this is a killer time to buy. I hope that was a joke.

You have to be a financial advisor who will not call any of your clients, this market has no where to go but down. This world just saw a fake rally thanks to the fed reserve lowing interest rates, everyone is maxed out in there homes and these interest rates cuts aren't helping anyone cuz there home values have decreased and the "american homes never loses value" now have lost over 10%. On top of that the credit card issue that we haven't even begun to look at, this is going to be the worst recession we've ever been in, and that's including myself and my parents

[jordanrules23]

Its those damn Bushes they have caused this nation nothing but shit

[jordanrules23]

You must not watch FOX News ....we are in great shape man....best we have been in a long time .....just ask Bill O'reilly

PEACE

you MUST watch CNN, save a tree and go GREEN light....

[Watchtower76]

And we haven't even begun talk about unemployment yet, which is the next major thing to hit our markets.

please explain these to companies, two companies that could wipe out millions and billions of dollars out of the american's pockets

ABK and MBI

, they are morgage back insureance companies
Ambac Assurance Corporation. Through its financial services subsidiaries, the Company provides financial and investment products, including investment agreements, funding conduits, interest rate, currency and total return swaps, principally to its clients of the financial guarantee business.


Oh nice earnings last week C (citigroup) only 19 billion with 4.8 billion in credit cards, and this is the time to buy, please say POSKID you were kidding

[BettorsChat]

Every overseas market I looked at today was down. Tomorrow could be a rough day for the stock market. Right now IMO there are some stocks that could be some buys, but the best thing to do is watch for the time being as I believe there is more down turn coming.

[Watchtower76]

and POSKID if you saying a strong buy should be now, then got out and buy CFC, supposly Bank of America on January 11th has bought out CFC for 4 billion dollars or $7.16. And it's trading $4.97 hummm something seems very fishy here, yea BofA is buying this company probably to hide more of there problems and blame it on the purchase of CFC. This market is F'd

[robby_morini]

And we haven't even begun talk about unemployment yet, which is the next major thing to hit our markets.

please explain these to companies, two companies that could wipe out millions and billions of dollars out of the american's pockets

ABK and MBI

, they are morgage back insureance companies
Ambac Assurance Corporation. Through its financial services subsidiaries, the Company provides financial and investment products, including investment agreements, funding conduits, interest rate, currency and total return swaps, principally to its clients of the financial guarantee business.


Oh nice earnings last week C (citigroup) only 19 billion with 4.8 billion in credit cards, and this is the time to buy, please say POSKID you were kidding

He's either busted or kidding.

Banks and mortgage brokers got fat and happy 4-5 years ago. When demand slowed with higher rates, they loosened their underwriting standards. They essentially set people up to fail with these ridiculous interest only, exotic loans to make them fit. Look at all of the bank stocks...they are in the tank.

Not to say that all of the economic problems were caused by the banking industry, but they sure have their share of accountability.

[robby_morini]

He's either busted or kidding.

Banks and mortgage brokers got fat and happy 4-5 years ago. When demand slowed with higher rates, they loosened their underwriting standards. They essentially set people up to fail with these ridiculous interest only, exotic loans to make them fit. Look at all of the bank stocks...they are in the tank.

Not to say that all of the economic problems were caused by the banking industry, but they sure have their share of accountability.

Sorry, my free play is on FCNCA, a family owned bank based out of Raleigh NC. They got out of real estate lending 4 years ago. P/E is not the best, but the Holding family controls this company.

[Watchtower76]

Every overseas market I looked at today was down. Tomorrow could be a rough day for the stock market. Right now IMO there are some stocks that could be some buys, but the best thing to do is watch for the time being as I believe there is more down turn coming.

Agree Monte,

Fed comes out and cuts out of fear 1/4 or 1/2 this market will even dive deeper and the european markets will take a deeper hit. No one has money and the fed pumped up everyone's own idea that you can max out your house, but your house value will always rise and now your house decreases in value and you have a house payment of 100k more then what your house now is worth.

I have a buddy who bought a house in minneapolis for 720k 2 years ago, well his neighbor has his house for sale for 575k and has no one looking at it. It's going to take a while to get out of this hole,

and to find out every company is at there 52 week low and there safe stocks "mutual funds" have lost 5-10% even since Jan1st"...