Dow breaks 11,000...going down quickly

-- TM (mercier7@pdnt.com), January 04, 2000

Answers

Oh my god, it's the end of the world. Run for your lives.

-- (I'm@pol.ly), January 04, 2000.

What will you post when it goes back up over 11,000 tomorrow or Thursday? What will your explaination be then? Hmmmm little Timothy???

Will you claim that it's only going up because of a Gov't conspiracy to artificially inflate the numbers?

Will it be going up in response to false reports of "All's Clear" by the news media?

What will your explanation be, hmmmm???

-- Thomas Redder (t_redder@hotmail.com), January 04, 2000.

Another man to be respected for having the guts to state his opinion, and his identity, I am surrounded by people who are not afraid of other people. What a pleasant experience.

Good for you. Folks, we have been thru three days of people telling us we should be eating crow and now because of a bump in the market, some of us seem to think we have arrived and are able to push others faces into the mud.

I for one, DON'T WANT THE MARKET to crash. I WOULD RATHER DRINK PEE OUT OF Hoffs boot than watch the market crash. Let us pray that we are wrong and not crow loudly if this turns out to be serious. Which it is WAY to early to say.

Stop it...

-- Michael Erskine (Osiris@urbanna.net), January 04, 2000.

Man...last time I saw a fall like this, I'd be hitting the reserve soon. Better HAHO than HALO.

-- Billy Boy (Rakkasan101st@Aol.com), January 04, 2000.

Thomas,

I'm glad you figured out my name is Timothy. Kind of wondering how that is.

By the way, I don't seem to remember making any commentary on the original post...you wouldn't happen to be jumping to any conclusions, would you?

-- TM (mercier7@pdnt.com), January 04, 2000.

Mike,

What if the person providing the pee had spent the entire day washing down their favorite snack of asparagus and garlic with espresso?

from your colorful imagery, ROTFLOLPIMP

Headcase

-- Headcase (nurse@ratchet.com), January 04, 2000.

Hey Thomas Reddder, You Asshole. You orgy is over.

-- lenny (Chmielecki@worldnet.att.net), January 04, 2000.

Timothy:

Just wanted to point out that your post's intentions were transparent -- and not very well thought out. You might as well just say "I want the market to crash"...... It would do more good and would at least position you on one side of the issue or the other. The way you posted "Falling....fallling....falling" (misspellings and all) is a clear indication that you think it means "doomers are right". There hasn't been a doomer prediction that has come true yet -- and there won't be any.

As posted by "Elvis" earlier today --- IT'S OVER.

By the way: It's not very difficult to find one's name on the Internet. I was just trying to get your attention -- hope it worked.

As to the namecalling by the ignorant doomer(s) above - I suspect that the post(s) will not be 'removed' by the "Sysops" since the namecalling and cursing is being done by someone on "the right side of the fence".

-- Thomas Redder (t_redder@hotmail.com), January 04, 2000.

I want to see it crash, I want all the pollies to lose everything they have in the stock market, yes sweet revenege. Don't get rid of your preps so soon people, you may still need them.

P.S. I want to be able to say, see we told you so.

-- out of the market (outofthemarket@outofittt.xcom), January 04, 2000.

Hey Thomas, I knew that could be done....but HOW??? BTW I don't have a position in the market now...just watching and hoping for all good news.Gold sure took a hickie for some reason though, didn't it.

-- Larry (Rampon@airmail.net), January 04, 2000.

Thomas,

I'm flattered that my post seems important enough to you to cause you to do some sleuthing. I've got nothing to hide.

As far as misspelling the word "falling", I suppose you can come to any conclusion you want from that...though I would say that it would be very weak circumstancial evidence at best.

As far as my concern about the market...I've never been in the market. All the extra money I have has been plowed back into eliminating debt and paying off my mortgage. I will grant you that I have some money in precious metals, but really not enough to make me wealthy if a "Andy 2000EOD" scenario ever took place.

As to the relationship between Y2K and the market. Initially I believed that Y2K problems would be a catalyst leading to a market collapse, but after some time I realized the market was less in danger from Y2K glitches than it was from the unwarranted euphoria of investors.

Am I cheering for a market collapse? Yes and no. The stock market is way over valued, and it WILL correct itself in one way or another. Either it will deflate or contract over time(which I am hoping for), or it will burst, leading to misery and hardship for many billions of people (including me). So in the end, if it must collapse, my hope is that it would do so slowly. I am afraid though that too rosy of a picture has been painted by Government and Media, and our worst fears may yet come upon us.

Sincerely,

Tim

-- TM (mercier7@pdnt.com), January 04, 2000.

Thomas,

I want the market to crash.

-- Bruce (Then I'll be@wealthy.boy), January 04, 2000.

This is just stupid. That's the only word for it. Profit-taking in an over-valued stock market just before the Fed announces a rate hike- -THAT's the best you doomers can come up with? A 3% fall in the Dow?

Question: The last time the Dow tanked, was that a Y2K failure, too? Has every market correction in the history of Wall Street been a Y2K problem, as well?

It's hard to be polite. This is just dumb. Dow falls to levels not seen since November of 1999! Better get out quick!

-- Craig Kenneth Bryant (ckbryant@mindspring.com), January 04, 2000.

First off, when was the last time you saw the NASDAQ fall over 229 points? Oh, I know... never. It's a new record. When was the last time you saw the DOW fall 359 points? It's been awhile, huh?

The Fed has allowed the market to soar because investors played the hedge that the Fed wouldn't raise rates prior to Y2k. The Fed played hard to protect the market from any Y2k effects. The market rally happened last year. The investors knew the Fed was playing it safe and took great advantage.

In other words, the ride is over. The economy is overheated and the Fed will act. Investors overseas that saw a safe haven in investing in the U.S. are now pulling money out. You think this is just a little dip? Really?

If the economy is strong then why would a bump in interest rates cause so much fear? Confidence in the future would dictate that this would be a minor event.

Even without Y2k this market was going to fall. The real question is why are some of these areas taking a tumble? Why would technology start to decline? Isn't it "the new economy"?

I wouldn't be so quick as to simply attribute this ONLY to profit taking.

Just MHO, of course, and I'm pretty much clueless and open to the speculation of others.

Mike

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-- Mike Taylor (mtdesign3@aol.com), January 04, 2000.

Headcase... :-) Ick.

-- Michael Erskine (Osiris@urbanna.net), January 04, 2000.

I need the Fed cause I'm goin' down...

Down to the stocks that I'm stuck with...

I need the Fed cause I'm goin' down...

(from "Happiness Is A Warm Portfolio")

-- dinosaur (dinosaur@williams-net.com), January 04, 2000.

Sure, it's the New Economy (tm)...and, no, that doesn't mean that tech stocks can not or should not fall. The Economist magazine ran a very insightful cover piece on this earlier in the year ("Why internet stocks must fall," I think it was called). But the only sense in which the correction (and that is the right word for it) we've seen this week is related to Y2K is in the interest rates the fed has kept low, partially to compensate for any Y2K bumps in the road (and, yes, I use that phrase deliberately). Combine that with people locking in profit, delaying capital gains until the first of 2000, and, perhaps, capital that was stashed in the U.S. market returning to foreign destinations, and that's all the explanation needed, I think.

Even a suggestion that Y2K is crashing the market is ludicrous. I mean, here's the scenario: People are so afraid of Y2K that the market soars in December. Then, rollover comes and is more of a nonevent than almost anyone would have predicted. So everyone gets real scared at the lack of infrastructure damage and non-interruption of supply chains, and pulls out of the market in a panic. What part of this makes sense?

Personally, I hope the market is stagnant for the year--or even falls. I also hope that the Fed, after playing free and easy in the wake of the Asia crisis and in anticipation of Y2K, starts clamping down and looking for a soft landing, 'cause, in my armchair economist's opinion, Dow 11,000 represents a seriously overheated economy.

But, note, I'm just talking economics--not Y2K.

-- Craig Kenneth Bryant (ckbryant@mindspring.com), January 04, 2000.

Craig; well put, but it is a slippery slope we are going to ride in the attempt to get the WORLD economy down the 20 or 25 percent which it needs to come down WITHOUT loosing the brakes... I am not talking economy, I talkin' tractor trailers and downhill grades.

The problem is that the WORLD economy is overheated.

-- Michael Erskine (Osiris@urbanna.net), January 04, 2000.