OUCH - S & P Futures Down 12.5 on Globex!

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http://www.cnnfn.com/markets/us_markets.html

And they say each point there is 'worth' 8 on the DOW.

I guess the traders didn't like that little announcement from CPQ today.

Of course, that announcement came "after the bell" - so all the professional traders could dump the stock before the retail investors have a chance to. For those holding CPQ, it will open about 9 bucks lower than it closed. Is this fair?

-- Me (me@me.me), January 06, 2000

Answers

Oops! Sorry, that's Gateway (GTW), NOT Compaq (CPQ). I knew I should have had more coffee before posting.

-- Me (me@me.me), January 06, 2000.

Make that - down 13 1/2

-- Me (me@me.me), January 06, 2000.

ITS A VIRTUAL MELTDOWN !!!! RUN FOR YOUR LIVES !!!!!

-- the Virginian (1@1.com), January 06, 2000.

Yikes!!! down 16.5 at 12:12 am CST

-- Me (me@me.me), January 06, 2000.

Baked while you sleep. Down 17

-- Me (me@me.me), January 06, 2000.


My one single holding (yeah, eggs in one basket) went up 17% yesterday.

-- Ron Schwarz (rs@clubvb.com.delete.this), January 06, 2000.

puts?

-- Me (me@me.me), January 06, 2000.

Do I hear any bids for 60? Going once, going twice...

-- jigsaw (You@you.you), January 06, 2000.

Nick Chase "The Contrarian's View"

http://www.fiendbear.com/warmline.htm

In case you were wondering, yes, this is probably the start of the Crash. For several weeks, deteriorating technical indicators have had an air of "immininence" to them which indicated the divergence between the majority of stocks and the popular indicators (as well as the "bubble.com" stocks) would not persist for more than a few weeks, at most, into the new year without some sort of severe correction.

(Maybe it was the report of armored trucks returning that unused Y2K cash from bank vaults to the Federal Reserve that triggered the selloff. What? You're taking it back? You mean, we don't get to keep it and throw it at stocks?)

Current "fair value", based on competing rates of return, is about 3200 for the Dow, a level likely to be the intermediate "stopping point" in any crash (as 1987 demonstrated). However, with the chip- failure aspect of Y2K turning out to be largely a non-event, and with the "termite" aspect of Y2K only beginning to take hold, I must advise you that the Federal Reserve has not lost its clout. The "plunge protection team", in my opinion, still has the power to engineer a reversal, and no doubt will try to do so when they feel it's necessary.

END QUOTED MATERIAL

-- Me (me@me.me), January 06, 2000.


Bubble.com, err Nasdaq futures down 54.00. Bloodbath in the making. http://www.cme.com/cgi-bin/gflash.cgi

-- Bill (bill@desert.sw), January 06, 2000.


Asia is taking it in the shorts again. Honk Kong is down another 4% today - I wonder how much more they can take before it destabilizes them as they're still recovering from '97s fiasco...

-- Deb M. (vmcclell@columbus.rr.com), January 06, 2000.

The United States will lose its last protective firewall when other countries' economies collapse. Inevitable.

-- dinosaur (dinosaur@williams-net.com), January 06, 2000.

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