Nikkei, -952, almost 10 percent...Dow futures, -220

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Well here we go folks for some more real shockers...

Should be interesting to see what takes place with the US market Wedsday.

I'm surprised they did not stop the Nikkei 225 market. Looks like it was in a free fall.

Nikkei, -952, almost 10 percent..

Leading to...

Dow futures down -220

This does not look good folks. Our US market might drop big time again, maybe 500 to 800 points causing a spiraling down of the other markets which in one way or another we will all feel.

Now I'm starting to get concerned...

Maybe I'm just thinking too much. I need to get some rest.

Cheers,
Dean
  • Profile picture of the author TimPhelan
    Yeh, Wednesday looks like a record breaker for the Dow.
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    • Profile picture of the author derekwong28
      I have to say that almost everybody living in Asia is feeling really sick and worried right, even though their banking systems are supposed to be more robust.

      The reason is that we have been through the Asian Financial Crisis already in 1997-8 and it took some countries may years to recover. We did have a short depression and I can assure that it was extremely unpleasant. There were news of people committing suicides almost daily due to stock and property losses.
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      Do not get between a wombat and a chocolate biscuit; you will regret it dearly!

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      • Profile picture of the author Dean Shainin
        Looks like the Feds lowered the rates again so everything should be just dandy for today. News flash cheap money is what got us into this mess in the first place.

        I can only imagine where the US market would be right now if they did not lower rates. What is this telling us?

        Hmm?

        I'm so thankful that with IM we have our own micro economy but even then I still wonder how it will bleed into other aspects of online marketing. Like Frank Kern says just make more money. Screw Uncle Scam!

        Cheers,
        Dean
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      • Profile picture of the author Kay King
        At the rate it's going we could go below 9000 today on Wall Street.

        The markets are in freefall and all the talk in the world about "opportunities" isn't having any effect. Main reason is that no one knows where the bottom is and most expert economists don't think we can predict that bottom yet at all. He said there isn't a big exodus out of hedge funds right now - but that could be next.

        Some hedge funds are now running ads saying "we're in better shape than wall street reflects" - but when an economist was asked if they believe that claim, he said a blunt "no".

        I keep hearing "it's all about the psychology" and I disagree - you can't talk UP a market when panic has set in and it's tanking. Part of the current problem is that this market was "talked up" far past the point when the weaknesses should have been exposed.

        Now the advice is "it's better have a bad plan than no plan at all". Sure, it is.

        Interesting to watch - it's going to be a rough ride for quite a while.

        kay
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        • Profile picture of the author Dean Shainin
          So far the market only went down only about 2% so no worries. It could have been 10% like Japan if they did not cut rates.

          News flash!

          We just had a rate cut and one would think the DJIA would be running up not down. It's only about 4:30PM Eastern time so still 1/2 hour to go to move up.

          Maybe Thursday will see a gain.

          I'm sure they have everything in control.

          I've never seen anything as fascinating as this in all my life when it comes to financial markets.

          Again, I'm thankful we have IM.

          Cheers,
          Dean
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          • Profile picture of the author bendiggs
            Originally Posted by Dean Shainin View Post

            So far the market only went down only about 2% so no worries. It could have been 10% like Japan if they did not cut rates.

            News flash!

            We just had a rate cut and one would think the DJIA would be running up not down. It's only about 4:30PM Eastern time so still 1/2 hour to go to move up.

            Maybe Thursday will see a gain.

            I'm sure they have everything in control.

            I've never seen anything as fascinating as this in all my life when it comes to financial markets.

            Again, I'm thankful we have IM.

            Cheers,
            Dean
            I don't know why you think internet marketing will make it through this without being affected by the rest of the economic downturn in every other market. Right now internet marketing is doing ok because there are a lot of people who are scared and looking for security, but even so, when things get really bad, even IM will be unstable.
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            • Profile picture of the author myob
              Originally Posted by bendiggs View Post

              I don't know why you think internet marketing will make it through this without being affected by the rest of the economic downturn in every other market. Right now internet marketing is doing ok because there are a lot of people who are scared and looking for security, but even so, when things get really bad, even IM will be unstable.
              bendiggs

              You must have a bad list. We got more business than we can handle. PM me for some hot leads.
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  • Profile picture of the author Indiana
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    • Profile picture of the author myob
      Indy,

      Sorry to hear business is slowing down for you. Maybe I can help. Sign up under me with SFI, and I can make you a millionaire too.
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      • Profile picture of the author Mike Wright
        In the present situation, this is a bit like a rapist
        asking his victims for the cab fare home

        Bloomberg.com: Worldwide

        However, it does explain why the UK just had
        a bigger than expected rate cut
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  • Profile picture of the author Indiana
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    • Profile picture of the author Dean Shainin
      A new day in Japan and the Nikkei down another -972 points about another 10% at this time but it's still early there.

      If this melt down does not stop soon it might end up in a free fall folks. What happens over there effects US markets here. I hope not because this country (the masses) could not handle it. We are only at 2003 lows so not too concerned, but if we go any lower (say under 7,000) I don't think it will at this point, but if it does in the next 30 days it's end game...

      Cheers,
      Dean
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      • Profile picture of the author myob
        It must continue to fall. I am waiting for 7500, but will settle for just 8500. This will be much better than the little garage sale we have seen lately.
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    • Profile picture of the author HeySal
      But Indy - most of us don't own thousand year old portfolios and judge up and down in decades, years, and in such times as now, in weeks and days, ya realize yes? Old world wizards just don't think like consumers, mon ami. You can see the tenure well enough, hahahahaha.

      Dean, Derek - if you want to know what the market is going to do, just pretend your are Paulson, Bush Sr. and GS and think of what you would do in an effort to manipulate an economy for your own power and gain.....and there you will find what the stock market is going to do. The daily up and down is only the facade, go deeper. Who do you want to knock out of that market - and who do you want to grab control over? I'm sure the CEO of Lehmens could give you some hints.
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      Sal
      When the Roads and Paths end, learn to guide yourself through the wilderness
      Beyond the Path

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  • Profile picture of the author derekwong28
    The Dow is simpling catching up with other countries. Everytime, there is a litte drop, the Feds nd the teasury would come in with something to prop it up e.g. interest rates cuts, stimulas package, bailout package, bailout of banks and AIG etc. Now the market is collapsing because they think that that the Feds and Government have no ammunition left. The only chance now is a worldwide solution with all G7 and BRICS countries involved.
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