The DOW is down 205 today and heading back down under 10,000. Wonder if some of the big power players are selling off before third quarter announcements, or maybe starting to get the Y2K picture.

-- @ (@@@.@), September 23, 1999

Answers

Also, for concerned investors...market just closed. NASDAQ down 110, S&P down 30.

-- @ (@@@.@), September 23, 1999.

Even going below 10,000 isn't a crash. Percentage wise, it's a correction. IMHO you can't call it a crash until you see a 10 percent drop in one day, maybe more.......... The '87 crash took a lot of my money, and I believe that was on the order of 20 percent.

-- Forrest Covington (theforrest@mindspring.com), September 23, 1999.

At least then I can quit fretting about the Dow 10k problem ...

-- bw (home@puget.sound), September 23, 1999.

I don't know Forrest...think this could be the beginning of the end for stocks - everybody's moving to Bonds:

bond rally

Of course the amateurs will start buying stocks thinking it's going to recover, but the pros are clearly making their move.

Wouldn't be suprised to see some near 1000 point crashes over the next few days - they'll shut down after 10%. Hang on, we're in for a ride!

-- @ (@@@.@), September 23, 1999.

That's a big drop. Especially this week. Especially for the NASDAQ, I'm glad to be out. I wish my friend had run when I told him to. But noooooo.....

-- Mara Wayne (MaraWayne@aol.com), September 23, 1999.

>> ...everybody's moving to Bonds... <<

IMHO, this is likely to be a temporary phenomenon, unless the dollar stabilizes against the yen and the Euro darn soon.

Foreign holders of dollar-denominated bonds are already being exposed to significant currency-exchange risk as the dollar weakens. A weak dollar will also ramp up inflation on imports. The bond market hates inflation. If stocks sink along with the dollar, the real productive economy will slow down, too. With debt (and personal bancruptcies) at an all-time high in the USA, this will put a lot of pressure on banks and businesses, both. The bond market likes a slow economy.

Bonds are probably going to get whipsawed over the next 12-16 months, as the bond market has to alternately absorb news it hates and news it likes, in increasingly strong doses.

If anything is going to emerge with enhanced value from the ensuing chaos, it will not be financial paper, but real goods. Cash may also become king, as the hollow shell of the finacial bubble crumples.

-- Brian McLaughlin (brianm@ims.com), September 23, 1999.

You ain't seen nuttin yet !!! Wait till the market finishes FRIDAY ! Any time you have bad news/sell-offs on Wed./Thur. , Friday is the time for the little guy to get the gitters AND SELL ! This triggers all kinds of sell orders by savy investors/money market , etc. who have set a "bottom" limit on losses with a prearranged SELL ORDER ! By Monday, this may look like 'calm waters' compared to next week. I think we have seen the first CRACK in the dam . Hope your not 'downstream' with your pants down ! Eagle (circling - waiting ! )

-- Hal QWalker (e999eagle@freewwweb.com), September 23, 1999.

Anybody notice the increase in y2k coverage this week and the drop in the market?

-- The Count of Meijer Crisco (40@cansof.course), September 23, 1999.

Is the market manipulated? That's always the big question. I wouldn't be surprised to see this Market stabalize a little tomorrow. The big money guys hate to have the market have a big dip on Friday, and especially this Friday after the kind of week the market has had.

-- thinkIcan (thinkIcan@make.it), September 23, 1999.

Dow finally fell through the 10,500 support level, as did S&P with its "bottom" of 1300. Today's close means that we now have had a true 10% correction. Fundamentals and technicals still don't look good.

Foreign money is currently heading home. Japan has to cover those massive insurance and pension obligations.

"For your safety, we do ask that you please keep your hands and feet inside the car at all times until the ride is finished..."

-- Mac (sneak@lurk.hid), September 23, 1999.

It may be time to take pity on the day traders... The easy .com money (otherwise compared to Dutch tulip bulb speculation in the 1600s)will go south in a hurry. Loved the "keep the hands and feet inside the car" comment.

Just remember, most of today's investors were not in the market during the 1987 correction much less the bear market in the early '70s. Lets hope the sheeples don't panic. I started pulling out of some of my more speculative individual holdings in late spring. Yes I missed a few dollars, but oh well.

Of course if this really will be in the 8-10 categories, we will all be selling apples on street corners like they did during the '30s.

-- Nancy (wellsnl@hotmail.com), September 23, 1999.

I have many Put Option positions that have skyrocketed! I'm licking my chops!

-- freddie (freddie@thefreeloader.com), September 23, 1999.

Mac,

LOL! LOL! LOL!

I love gallows humor. My health gives me many opportunities. Gallows humor is a developed trait, born of adversity, and tempered by pain, IMHO!!

We will have adversity and probably a lot of pain (or worse) before this is over.

We are preparing for humor with Garrison Keiler tapes for our battery opperated noise box. Thanks for the laugh of the day (at least for me)!!

-- Leslie (***@***.net), September 23, 1999.

Nancy writes:

"Of course if this really will be in the 8-10 categories, we will all be selling apples on street corners like they did during the '30s."

Would those be stockpiled apples? (smile)

-- Stan Faryna (info@giglobal.com), September 23, 1999.

The market has been going down ever since 60 min. did the Y2K story

-- comp (compudude@tolya.so), September 23, 1999.

All my IBM Put Options just now have doubled in value! I'm licking my chops!

-- freddie (freddie@thefreeloader.com), September 24, 1999.

Anybody watch the faces of the spokepersons on Bloomberg TV and CNBC while they attempt to calm the masses with happy tech talk. This is the bottem andnow is a good time to buy. Yea right! I am glad for freddie and his put options. We haven't seen anything yet. IMHO, I do not believe we will see the big 10% in any given day but rather a bunch of drops like today that will make one big drop. Little investors do not have the pull in this market to manipulate it like that. I am so glad I got out when the market was higher.

-- y2k dave (xsdaa111@hotmail.com), September 24, 1999.

cnn fn markets snapshot

watch it

-- fat lady (my@turn.soon), September 24, 1999.

cnn fn markets snapshot

-- fat lady (my@turn.soon), September 24, 1999.

Y2K market crash: If you dont believe there is a God....You'd better be right!

-- Ron wiebe (Ron_wiebe@bc.sympatico.ca), September 26, 1999.