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  1. #1
    Hang 'Em High
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    Default Dow 5,000 - Yes, it could happen

    Market Watch Opinion by Brett Arends

    http://www.marketwatch.com/story/dow...pen-2015-08-21

    I don’t mean to be alarmist or to induce panic, but someone needs to tell the public that there is a plausible scenario in which the U.S. stock market now collapses by another 70% until the Dow Jones Industrial Average falls to about 5,000. The index tumbled more than 3% to 16,460 on Friday.

    ~~8 U.S.C. § 1182(f)~~

  2. #2
    Forum Frontman It's Mike's Avatar
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    Default

    About as likely as pigs flying.

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  4. #3
    Hang 'Em High
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    Default


    ~~8 U.S.C. § 1182(f)~~

  5. #4
    Master Bluesman Elwood P.'s Avatar
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    5,000? That's a long, long way. Maybe below 16,000. Probably a needed correction too. But I don't see it getting much below 16. There's still a lot of money out there waiting to get back in.
    "I'm the opposite of Bill Cosby. Diamond Dave always gets your approval." (DLR)

    "Kids, just say NO to marriage". (Al Bundy)

    Rawhide in "A"

    OAA

  6. #5
    Atomic Punk edwardv's Avatar
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    Markets go up and markets go down- Ronald Reagan
    EVH 1979: Well, actually it's not much of a vacation, because we run everything ourselves. We design our own album cover, we have to be in the office every day to sign checks - the whole corporation revolves around us. Nothing can be done without our approval. We even have photo approval.

  7. #6
    Hang 'Em High
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    Default

    Hal Lindsey really broke down the China economic/world economic dangers on his weekly TV show.


    The China report begins at 3:44

    ~~8 U.S.C. § 1182(f)~~

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  9. #7
    Baluchitherium noise next door's Avatar
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    Default

    Doesn't look that bad actually after the Chinese crash...

    Dow down 1100 at the 9:30 open, now at 600 down

    CNBCs ratings are going to be through the roof today... Go Jimmy!

  10. #8
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    Default

    Cool...

    As of 1:15pm Monday, Dow is now only down less than 1%

  11. #9
    Atomic Punk edwardv's Avatar
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    I'm buying at the bottom


    Sent from my iPhone using Tapatalk
    EVH 1979: Well, actually it's not much of a vacation, because we run everything ourselves. We design our own album cover, we have to be in the office every day to sign checks - the whole corporation revolves around us. Nothing can be done without our approval. We even have photo approval.

  12. #10
    Atomic Punk bsbll4's Avatar
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    It looks like that's what a lot of people did today.

    As a young guy I was looking at it the same way. If I was getting close to retirement I would have been checking my underwear this morning to see if I needed a change.
    CNN may think my opinion matters, but you shouldn't.

  13. #11
    Atomic Punk edwardv's Avatar
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    I think we got a way to go to the bottom but not 5000
    EVH 1979: Well, actually it's not much of a vacation, because we run everything ourselves. We design our own album cover, we have to be in the office every day to sign checks - the whole corporation revolves around us. Nothing can be done without our approval. We even have photo approval.

  14. #12
    Atomic Punk I Coulda Hada VH's Avatar
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    Default

    Bottoms Up!

    "It's so lonely at the top because it's so crowded at the bottom" - Diamond David Lee Roth

    "If at first you don't succeed, then skydiving is not for you"

    "Be careful what you wish for because you just might lose what you already have"

    "Women and Children First ... The REAL Van Halen III"

  15. #13
    Forum Frontman It's Mike's Avatar
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    Default

    The problem with buying at the bottom is identifying it. Buy the same amount every month and sleep well at night. This is all just noise.

  16. #14
    Master Bluesman Elwood P.'s Avatar
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    Quote Originally Posted by edwardv View Post
    I'm buying at the bottom.
    Which is???

    Rough day today. DOW down 588!
    "I'm the opposite of Bill Cosby. Diamond Dave always gets your approval." (DLR)

    "Kids, just say NO to marriage". (Al Bundy)

    Rawhide in "A"

    OAA

  17. #15
    Hang 'Em High
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    Default

    Well, whatever happens, some will just keep listening to today's Charles Mitchell, whomever that might be.

    Charles Mitchell was Chariman of the National City Bank of NY, now Citibank, in 1929.

    Here are some the Chairman's Quotes leading up to Black Thursady of 1929 on October 24th (which was followed by Black Monday and Black Tuesday).

    "The industrial condition of the United States is perfectly sound... nothing can arrest the upward movement" Charles E. Mitchell, president of the National City Bank, October 14, 1929

    "The markets generally are now in a healthy condition... values have a sound basis in the general prosperity of our country" Charles E. Mitchell, president of the National City Bank, October 15, 1929

    "I doubt if anything that will not affect business can affect the market, which is like a weather-vane pointing into a gale of prosperity" Charles E. Mitchell, president of the National City Bank, October 16, 1929

    "...fundamentals remained unimpaired" Charles E. Mitchell, president of the National City Bank, October 24, 1929



    By 1929, Charles Mitchell, President of the National City Bank (now Citibank), had popularized the idea of selling stock and high-yield bonds directly to the smaller investor. Mitchell and a very small group of bankers, brokers, and speculators manipulated the stock market, grew wealthy, and helped create the economic boom of the Twenties. While the market was rising, presidents and economists confidently predicted America would soon enter a time when there would be no more poverty, no more depressions-a "New Era" when everyone could be rich. Instead, it was the rich who became richer.

    ~~8 U.S.C. § 1182(f)~~

 

 

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