and the Dow closes 40 points LOWER than after Monday’s 777 point drop when the House said no.
Close on Monday – 10,365; today – 10,325.
I’ll go out on a limb and say you ain’t seen nothin’ yet. If we get below 9,800, I’ll bet we’re headed to 7,000.
So you give the market a bailout…
October 3, 2008 at 3:56 pm --by Cindy Kilkenny · 16 Comments
Tags: markets & money
16 responses so far ↓
1 Kyle Prast // Oct 3, 2008 at 5:54 pm
I wish I could say that I think you are wrong! Buckle your ‘tightened” seatbelt, we’re in for a bumpy ride.
Tiny bit of good news from USA Today, Stocks sink even after House OKs bailout plan: “The dollar was mostly higher against other major currencies, while gold prices fell.
Light, sweet crude fell 9 cents to settle at $93.88 on the New York Mercantile Exchange.”
I usually check the dollar against Euro and Canada, plus check gold’s price to see how bad things are. At least $1 American = $1.08 Canadian and .72 Euros on 10/2. (It had been $1.06 C and .69 E last week?)
FYI: Gas prices were $3.49/gal in my neck of the woods.
2 J. Strupp // Oct 3, 2008 at 11:25 pm
Where do you get your numbers from Cindy? Is 9,800 a magical number that triggers the market to drop another 2,800 points?
Markets are unpredictable. Always have been. If you concern yourself with day to day stock market performance in this economic environment you will suffer from biopolar disorder in no time.
3 Cindy Kilkenny // Oct 4, 2008 at 7:41 am
I watch the charts. J. Strupp. I always have. I’ve been pretty good at it in the past. The spouse always reads the prospectus. When we both agree on a buy or a sell, it’s usually spot on.
There’s lots of money to be made in such a volatile market.
4 Greg Kowalski // Oct 4, 2008 at 5:26 pm
So does this mean the Kilkenny household will be investing more in stocks if/when it falls lower?
5 Cindy Kilkenny // Oct 4, 2008 at 5:36 pm
I placed orders this morning.
6 Kathryn // Oct 4, 2008 at 7:56 pm
Ah, you are a Jeremiah. Just when things were about to get VERY ugly with the Babylonians, he bought real estate.
Jeremiah 32:13-15 NRSV
In their presence I charged Baruch, saying, Thus says the Lord of hosts, the God of Israel: Take these deeds, both this sealed deed of purchase and this open deed, and put them in an earthenware jar, in order that they may last for a long time. For thus says the Lord of hosts, the God of Israel: Houses and fields and vineyards shall again be bought in this land.
7 Greg Kowalski // Oct 4, 2008 at 9:28 pm
Cindy,
Good luck on your new investments! I hope you didn’t place your orders too soon. They still might fall lower, you know.
8 Cindy Kilkenny // Oct 4, 2008 at 9:36 pm
Oh Greg, ye of little faith. You’re out of your league here.
9 J. Strupp // Oct 4, 2008 at 10:31 pm
I wish you luck.
10 Greg Kowalski // Oct 4, 2008 at 10:51 pm
On which aspect?
11 Kathryn // Oct 4, 2008 at 11:23 pm
Mingle a little folly with your wisdom; a little nonsense now and then is pleasant.–Horace
12 Randy in Richmond // Oct 5, 2008 at 12:54 am
Cindy
Per chance those orders were shorts or puts.
13 Cindy Kilkenny // Oct 5, 2008 at 7:33 am
There are a thousand ways to bet your money on Wall Street. Those are two I did not use!
14 J. Strupp // Oct 5, 2008 at 11:00 am
There are a thousand ways to bet your money in Vegas too.
15 Grant // Oct 6, 2008 at 9:59 am
Cindy, I hope your orders didn’t get filled when the market opened! This is proof that the bailout was not a good idea. The little guy got screwed coming and going.
16 Cindy Kilkenny // Oct 6, 2008 at 10:11 am
I’m covered, Grant.
I’m hoping this is a bottom. The DOW dipped below 9800 briefly. The fact that it moved up is good. It needs to close higher than 9800.
I’m ready to jump from a low window, and I NEVER give into this stuff. Like I said – we need capitulation soon or we’re headed even lower.