Market today

[dalakhani]

Originally Posted by timmgirvan

wow..you're ambidextrous..I'm impressed

Dont hijack this topic. To borrow a line from BTW:

Shhh...the grownups are speaking.

[timmgirvan]

Originally Posted by dalakhani

Dont hijack this topic. To borrow a line from BTW:

Shhh...the grownups are speaking.

(whispering)....spoken like a true hijacker!

[MaTH716]

Down 504, ouch!

[timmgirvan]

Originally Posted by MaTH716

Down 504, ouch!

Damn..I didn't see the finals....

[docicu3]

Originally Posted by timmgirvan

Damn..I didn't see the finals....

Buying opportunities?? I know it seems like the sky is falling but the other sectors that fall in almost a "death by association" mentality will have value if one is prudent. Gotta hang in there and not freak out although watching losses of this magnitude will tighten your sphincter for you....

[jwkniska]

Originally Posted by docicu3

Buying opportunities?? I know it seems like the sky is falling but the other sectors that fall in almost a "death by association" mentality will have value if one is prudent. Gotta hang in there and not freak out although watching losses of this magnitude will tighten your sphincter for you....

you're absolutely correct. also, remember that the averages are weighted and the number of financials in the dow/s&p will make the numbers jump more in both directions, than they normally would. 4 of the 30 dow stocks are the financials that were down big, so that makes the average go down more.... if you look at what the average would have done without those 4, it would have only been down about 150, not 500.

[GPK]

Someone help me out here please.

Any indication as to why Merrill Lynch was traded so heavily...especially in the early part of the day?

[Antitrust32]

Originally Posted by GPK

Someone help me out here please.

Any indication as to why Merrill Lynch was traded so heavily...especially in the early part of the day?

Bank of America is supposedly buying Merrill Lynch from what I heard from the rumor mill.

[GPK]

Originally Posted by Antitrust32

Bank of America is supposedly buying Merrill Lynch from what I heard from the rumor mill.

I thought they were rumored to be buying someone else?

[GPK]

Originally Posted by GPK

I thought they were rumored to be buying someone else?

I'm just an idiot...It was Merrill they bought. No sure why I was thinking it was someone else

[dalakhani]

Originally Posted by Antitrust32

Bank of America is supposedly buying Merrill Lynch from what I heard from the rumor mill.

Correct and that is why the pressure from the govt to get the deal done NOW. Merrill is a dow component. Can you imagine what the market would have looked like without Merrill stock jumping on news of the deal?

The market was doing fine, ranging in the 200's until Paulson spoke...and then it started to tank.

Now the FED is asking (coercing?) Goldman and JP morgan to invest in a consortium to raise capital for AIG. desperate times.

[GPK]

Originally Posted by dalakhani

Correct and that is why the pressure from the govt to get the deal done NOW. Merrill is a dow component. Can you imagine what the market would have looked like without Merrill stock jumping on news of the deal?

The market was doing fine, ranging in the 200's until Paulson spoke...and then it started to tank.

Now the FED is asking (coercing?) Goldman and JP morgan to invest in a consortium to raise capital for AIG. desperate times.

http://www.marketwatch.com/News/Stor...mn=Bond+Report

[jwkniska]

Originally Posted by dalakhani

Merrill is a dow component.

Wrong... Merrill is NOT a dow component.

Here's the list of the 30 of them....

http://www.cnbc.com/id/26272770/site/14081545/

[Danzig]

Originally Posted by dalakhani

Correct and that is why the pressure from the govt to get the deal done NOW. Merrill is a dow component. Can you imagine what the market would have looked like without Merrill stock jumping on news of the deal?

The market was doing fine, ranging in the 200's until Paulson spoke...and then it started to tank.

Now the FED is asking (coercing?) Goldman and JP morgan to invest in a consortium to raise capital for AIG. desperate times.

i read earlier this evening on the news ticker that AIG needs $70 billion-yes folks, with a B-to avoid a downgrade on their rating. downgrading of course makes it harder to get future loans....
not good, not good at all. i saw early this morning that the dow was down about 250...didn't see anything else til tonite, the 502 drop....a black monday for sure...