Dow falls over 500 points

[TheCoolinator]

NEW YORK (CNNMoney.com) -- Stocks selloff sharply Thursday, extending the recent downturn as investors continued to worry that Europe's debt problems will slow a bigger global economic recovery.


The Dow Jones industrial average (INDU) lost as much as 570 points in volatile trading. At 2:45 p.m it was down 480 points, or 4.4% lower. The S&P 500 index (SPX) slipped 32 points, or 2.8%. The Nasdaq composite (COMP) dropped 78 points, or 3.3%.


http://money.cnn.com/2010/05/06/mark...york/index.htm

Hold on to your hats! Dow just went below 10,000 points......

[The Leader]

Originally Posted by Ted Weisberg, NYSE Floor trader, Seaport Securities

"It's a knee-jerk reaction to the continued problems in Europe, Greece in particular, possibly Portugal, Spain, the U.K.," said Ted Weisberg, NYSE Floor trader, Seaport Securities.

It's all because of foreigners.

[Colonel Flagg]

No, it is at 10,485 as of 2:57 PM. Off 383 pts.

Coolie, what planet do you live on?

EDIT: It's now off about 450-ish. The only thing you're right about is there was a sell-off today.

BFD.

[Fathom Zero]

Greece had a bunch of riots last night. Nice stuff. Doesn't help the economy that the entire country catches on fire every couple of years.

[Colonel Flagg]

HOPA!!!!

[Tadao]

[Tadao]

Some believe that automated trading is what made it sink so low.

[Dimnos]

Its all the fags on Scottrade.

[Tadao]

I have a hard time believing someone accidentally sold billions when they meant millions. Perhaps they are just saying that to ease the fears of traders.

[TheCoolinator]

Originally Posted by Colonel Flagg

No, it is at 10,485 as of 2:57 PM. Off 383 pts.

Coolie, what planet do you live on?

EDIT: It's now off about 450-ish. The only thing you're right about is there was a sell-off today.

BFD.

It dipped below 10,000 and then the plunge protection team bailed it out with our tax dollars.

At the highest point it was down 900.

[Tadao]

Originally Posted by TheCoolinator

then the plunge protection team bailed it out with our tax dollars.

That's pure speculation, right?

[TheCoolinator]

Originally Posted by Tadao

That's pure speculation, right?

No, they jumped right in. They have to by law. And its not private money they are using to stabilize the markets its the treasuries.

[Tadao]

Oh, I don't get the Illuminati Network channel.

[TheCoolinator]

Originally Posted by Tadao

Oh, I don't get the Illuminati Network channel.

The Working Group on Financial Markets (AKA Plunge Protection Team)

Established March. 18, 1988 Executive order 12631

Sec. 2. Purposes and Functions. (a) Recognizing the goals of enhancing the integrity, efficiency, orderliness, and competitiveness of our Nation's financial markets and maintaining investor confidence, the Working Group shall identify and consider:

http://www.reagan.utexas.edu/archive...88/031888d.htm

[Tadao]

Working Group on Financial Markets

From Wikipedia, the free encyclopedia

Claims about the Working Group, which are labeled conspiracy theories by some writers, generally include that it is an orchestrated mechanism that attempts to manipulate U.S. stock markets in the event of a market crash by using government funds to buy stocks, or other instruments such as stock index futures—acts which are forbidden by law.

http://en.wikipedia.org/wiki/Working...ancial_Markets

[TheCoolinator]

Originally Posted by Tadao

Working Group on Financial Markets

From Wikipedia, the free encyclopedia

Wow,

Thanks for the wikipedia quote.

Did you read the actual executive order I linked above? You know, the one signed by Reagan. The president.

[Tadao]

The one where it says on May 6th, 2010 save the stock market and don't tell anyone?

No, I didn't actually see that quote.

[Pentegarn]

Originally Posted by TheCoolinator

Hold on to your hats! Dow just went below 10,000 points......

It has been bouncing back and forth across the 10k line for awhile now. What's your point here?

October 4th 2008 it dipped below 10k

Hell it hit below 7k March 2nd 2009

Yeah... this means something... this is important

[TheCoolinator]

Originally Posted by Pentegarn

What's your point here?

That the Dow dipped a lot today.

[Pentegarn]

October 15th 2008 it dropped 733 points

October 28th 2008 it rose 889 points

Do you see why nowadays one day is meaningless yet?

[TheCoolinator]

Originally Posted by Pentegarn

October 15th 2008 it dropped 733 points

October 28th 2008 it rose 889 points

Do you see why nowadays one day is meaningless yet?

I wouldn't say its meaningless. Its continuing its plunge but market manipulators are trying keep it a float for a little while long. The only analogy I can make is a drunk trying to get the last few drops out of a empty bottle.

[Colonel Flagg]

Originally Posted by TheCoolinator

It dipped below 10,000 and then the plunge protection team bailed it out with our tax dollars.

At the highest point it was down 900.

Originally Posted by Pentegarn

October 15th 2008 it dropped 733 points

October 28th 2008 it rose 889 points

Do you see why nowadays one day is meaningless yet?

Originally Posted by TheCoolinator

I wouldn't say its meaningless. Its continuing its plunge but market manipulators are trying keep it a float for a little while long. The only analogy I can make is a drunk trying to get the last few drops out of a empty bottle.

Tadao is right, Coolie, this is your opinion. Nowhere does it say that the Reagan White House made a law creating a shadow market manipulation task force and authorize them to use tax dollars to buy toxic assets. They had to write an entire public piece of legislation that had to pass both houses of congress just to get the authority to bail out the financial houses in the first place.

Why would they need to do that, if they had this handy Reagan task force?

Stop with the conspiracy theories already. This is what gets you into trouble. Post crap like this where it belongs, in the conspiracy thread.

[TheCoolinator]

Originally Posted by Colonel Flagg

Tadao is right, Coolie, this is your opinion. Nowhere does it say that the Reagan White House made a law creating a shadow market manipulation task force and authorize them to use tax dollars to buy toxic assets. They had to write an entire public piece of legislation that had to pass both houses of congress just to get the authority to bail out the financial houses in the first place.

Why would they need to do that, if they had this handy Reagan task force?

Stop with the conspiracy theories already. This is what gets you into trouble. Post crap like this where it belongs, in the conspiracy thread.

Colon,

please,

I posted an article about how the market dipped and then I just posted an executive order that clearly shows the creation of a market stabilization team.

Whats the problem? Why so hostile?

[Colonel Flagg]

Originally Posted by TheCoolinator

I posted an article about how the market dipped and then I just posted an executive order that clearly shows the creation of a market stabilization team.

Fine.

Don't go further and make stuff up about tax dollars being used clandestinely to buy up stocks to shore up the market. If you want to discuss reality, then fine, we can do so like gentlemen. Everything past that needs to go into the conspiracy thread.

Sorry for my "angry" emoticon, but I'm not feeling well right now and that drivel really pissed me off.

(I've probably drunk too much fluoridated water.)

[Pentegarn]

I want to know, what do you gain from trying to convince us the sky is falling Chicken "Coolie" Little?

The fact is this is a recession that is not quite as bad as the 70s but for a frame of reference is most comparable to the 70s.

Yet you keep trying to use smoke and mirrors to convince us we are about to relive 1929.

Where are the massive bread lines?

Where are the 30-50% unemployment rates? (notice the plural, the dying city of Detroit that depended on an automotive industry that no longer exists doesn't count)

Where are the masses of workers wandering from city to city?

Again, were you hoping the i-mockery readers would scream and run away from their computers in a panic only to start looting in the streets, start fires, eat the dead, declare civil war?

What is your motivation here? Because you do not act in any rational pattern that I have ever seen. You just try to incite panic and fearmongering, and you do it poorly