• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Dow plunges below 10,000; lowest level since 2004

Status
Not open for further replies.

Eli Weiss

Thread Starter
Senior Member
Joined
Nov 28, 2005
Professional Status
Certified Residential Appraiser
State
New York
The dow fell below 10,000 in this morning trading....

It looks like the latest trend in popping a bubble is to let out the air slowly in place of just taking a needle and popping it

dow1om0.jpg
 

William K

Senior Member
Joined
Sep 21, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
Don't worry the bailout will save us!

My Congressman says so!
 

William K

Senior Member
Joined
Sep 21, 2007
Professional Status
Certified Residential Appraiser
State
Illinois
Down 553 points.

Almost forgot, " We're from the Government, we're here to help!":unsure:
 

Eli Weiss

Thread Starter
Senior Member
Joined
Nov 28, 2005
Professional Status
Certified Residential Appraiser
State
New York
We know it's going to 8K so just hold on tight, put on the seat belts, and you wont get hurt...

dow2ml1.jpg
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Hilary Kramer is a genius....or lucky. She predicted market "Capitulation" July 9th, 2008
http://www.pbs.org/nbr/site/onair/transcripts/080709d/

We need that capitulation, it looks so bad and so terrible. And we'll probably get that in the fall. That's what we're expecting. We see what we saw yesterday was just an interim bull. We may even see a nice little bull over the next two to three weeks' form, but then the market has got to come back down, because, again, we have to work through all of the excesses on Wall Street and all the mis-pricing and mismanagement of the mortgage bonds and also even on the equity level, and then we'll see in the fall the market will come back up. We also need one more quarter of redemptions to come in, big institutional redemptions. So that should be September 30th. So hopefully, October we're going to see the market come back after a big, bad capitulation day.
 
Last edited:

Riick

Elite Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
Someone I read expects Fed Funds rate to drop down to 1% in near future,
and says he wouldn't want to be short the market that day.

BTW... 3 most recent lows - with nice (upside down) head & shoulders pattern were:
..... 07/24/02 ..... 8,191
..... 10/11/02 ..... 7,850
..... 03/12/03 ..... 7,552

 
Last edited:

Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
Not surprising once you know how the market works:

Once upon a time in a place overrun with monkeys, a man appeared and announced to the villagers that he would buy monkeys for $10 each. The villagers, seeing that there were many monkeys around, went out to the forest, and started catching them.

The man bought thousands at $10 and as supply started to diminish, they became harder to catch, so the villagers stopped their effort.

The man then announced that he would now pay $20 for each one. This renewed the efforts of the villagers and they started catching monkeys again.

But soon the supply diminished even further and they were ever harder to catch, so people started going back to their farms and forgot about monkey catching.

The man increased his price to $25 each and the supply of monkeys became so sparse that it was an effort to even see a monkey, much less catch one.

The man now announced that he would buy monkeys for $50! However, since he had to go to the city on some business, his assistant would now buy on his behalf.

While the man was away the assistant told the villagers. 'Look at all these monkeys in the big cage that the man has bought. I will sell them to you at $35 each and when the man returns from the city, you can sell them to him for $50 each.'

The villagers rounded up all their savings and bought all the monkeys.

They never saw the man nor his assistant again and once again there were monkeys everywhere.

Now you have a better understanding of how the stock market works.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Once upon a time in a place overrun with monkeys, a man appeared and announced to the villagers that he would buy monkeys for $10 each. The villagers, seeing that there were many monkeys around, went out to the forest, and started catching them.

The man bought thousands at $10 and as supply started to diminish, they became harder to catch, so the villagers stopped their effort.

The man then announced that he would now pay $20 for each one. This renewed the efforts of the villagers and they started catching monkeys again.

But soon the supply diminished even further and they were ever harder to catch, so people started going back to their farms and forgot about monkey catching.

The man increased his price to $25 each and the supply of monkeys became so sparse that it was an effort to even see a monkey, much less catch one.

The man now announced that he would buy monkeys for $50! However, since he had to go to the city on some business, his assistant would now buy on his behalf.

While the man was away the assistant told the villagers. 'Look at all these monkeys in the big cage that the man has bought. I will sell them to you at $35 each and when the man returns from the city, you can sell them to him for $50 each.'

The villagers rounded up all their savings and bought all the monkeys.

They never saw the man nor his assistant again and once again there were monkeys everywhere.

Now you have a better understanding of how the stock market works.
sounds like monkey business to me...apt however
 

Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
sounds like monkey business to me...apt however
It is a bunch of monkey business. The crooks who were paid millions in bonuses will be paid millions in bonuses again to "clean up" the mess.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks