It looks like 9600 is new accepted low for the DOW.

[tekisui]

It has bounced up from it once, and heading back now.

Down 308 on the day.

[The_Casual_Observer]

1. It's going to take some doing to get it back to 14,000.

[madokie]

2. No time soon will it be there again

[tekisui]

3. I met a guy in a bar about 9 or 10 months ago.

He was from the other side of the country and the other side of the income gap. We were talking economy and I told him the market would hit 9500. He about fell on the floor and told me I was crazy. He said if it ever did that, to beg borrow or steal money to put in it.

I should call him and ask him if I can borrow some money.:P

[dweller]

23. just think, it seemed like only yesterday = 14,000

when in fact it was just one year ago.

-30% in just a year.

dp

[Hydra]

4. You know, Obama could gain a major advantage

By talking about the value of the Dow with the devalued dollar taken into consideration.

9,600 could be considered bad

5,900 could be disastrous for the repubs

[TexasObserver]

5. I see the Plunge Protection Team at work yesterday and today.

Yesterday, they let it fall 800 points before moving it back up to around -350.

Today, they seem to have a similar goal. I have noticed that any time it gets down to -350, there is suddenly a surge, and the DOW recovers a hundred points or so.

I don't know how they're accomplishing it, but I suspect I know how they're doing it. Imagine entities controlled by the US government buying and selling stocks that make up the DJIA composite. Imagine one as a seller, and one as a buyer. If the DOW is dropping, entity one buys stock from entity two in a stock which is contained in the composite. By bidding that number up high in the sale, the government gets a multiplier effect on the purchase, and the buy pushes the DOW average UP immediately.

Then they wait until the DOW drops down to -350 again, and they take the next such action.

I am convinced the government, under Bush's hacks, is actively trying to manipulate the numbers upward, several times a day now. They'll try to let the markets fall over weeks, instead of lose 1000 points in one day.

This market is fundamentally unsound, and it's due to the smoke and mirrors that have become part of the economic landscape and are still being used.

[Subdivisions]

9. I've been watching it closely today. You are absolutely correct that

it has bounced off of -350 every time it approached the lows. It would get as good as the -100s and then start sliding back down only to be boosted again past -300.

Man, I wouldn't normally be inclined to agree with the reasons you stated. But it does look like it's being kept from completely collapsing.

Perhaps to avoid a panic?

[TexasObserver]

12. Yeah, I think it's to get people used to the idea the markets are falling badly.

They could let it drop all in one day, but the panic would be significant. This allows people to slide into the idea.

[dbt]

11. I was just about to suggest a little PPT-Watching!

That last hour of trading yesterday looked a mite suspicious to me. As of this post 2:24 PM CDT, CNBC has the Dow down 343.84, at 9611.66.

[TexasObserver]

13. I'm interested to see if they'll let it fall more than 400 points today.

I don't think they will. They'll let it drop -350, but stop it from going below -400.

[dbt]

19. They REALLY wanted 10,000 yesterday

and ALMOST pulled it off. At 2:34 PM, it's at 9633.40, down 322.10.

[TexasObserver]

22. Yes, indeed! I watched that play out, and saw late sales drop it back down.

They pushed hard to get above 10K, but then the late sales came in and pulled it back down.

Now it's -440, but I'm guessing we will see another SURGE upward in the next ten minutes.

[Mojorabbit]

15. I think they know it is going to go down

but like the slow frog boil it is not as alarming if it goes down a few hundred points a day as opposed to 800 points in one day.

[TexasObserver]

18. slow frog boil is exactly right!

that's a good analogy to use here

get used to it! enjoy it! oops.

[Hydra]

17. Boiled frog

As you point out, if it drops 1000-3000 in a single day, the results would be BAD.

If, however, 3000 points are spread over 4-6 weeks(Average loss of 500 per week with a few bump up days to cover for the 300+ loss days), then people will keep hoping that we hit bottom and will reinvest, while TPTB know that it's a controlled glide and that the bottom is nowhere close.

There were lots of angry people the other day when the Dow was at -800. Now they just grumble.

[TexasObserver]

20. Yes, like Jim Carrey's character in Liar Liar says, we'll just "bend over and take it up the wazoo!"

Or, at least, most of the market will.

[Freddie Stubbs]

6. It's doing better than most country's stock markets:

http://www.cnbc.com/id/27065510/site/14081545

[tekisui]

8. Damn!

I knew Russia was having a serious fall, but didn't realize how bad it was for the others.

[Subdivisions]

10. This is truly a global meltdown. 8^( n/t

[GreenTea]

7. 1000 points lower than when Bush took office almost 8 years ago - The republican economy

ONLY for the rich & corporations - Tax cuts, bail outs, job outsourcing, union busting, offshore secret accounts, subsidies, charging higher cost to us for their tariff-free products, cutting workers wages benefits and stealing workers pensions after filing bankruptcy!!!

As the rest of the 95% of us work and go under....sounds like Guatemala or some other right-wing dictator run country as we have now become under republican rule!

And the idiot republicans workers want more of it under republican McCain, racism & ignorance knows no bounds.

[TexasObserver]

14. Chickens v. Roost, 2008 - Bush gets what's coming

[anarch]

21. there is no possible way that man* could ever get all he deserves

not in this lifetime, anyway. Not even in several lifetimes.



* I use the term "man" loosely here.

[Warpy]

16. It's got a lot farther to fall, kiddies.

I've seen the floor estimated from 5000 to 8300. That doesn't mean it will over correct, just that it's got a lot more correcting to do.

My best guess is that it will over correct and that's when I'll go shopping.

[dweller]

24. -459 at 3:30pm

9500 maybe the new floor.

whoops under 9500 as i post.
dp

[slackmaster]

25. As a computer professional, the number 9600 gives me flashbacks

Next it will be 4800, then 2400, then 1200...

...........NO CARRIER......................................................................

[AlCzervik]

26. how many days in a row can the market bleed off 400 points? a slow death.

[tekisui]

27. Let's see 9600 divided by 400......

24???

I guess we'll hit zero before Election Day.:scared:

[AlCzervik]

28. this is scary and i swear i am not one to panic but i am worried.

[MindPilot]

29. 9457 at the close n/t

[Not the Only One]

30. Obama should come out tonight and link himself with Clinton's economic success

He needs to remind America what it was like during that time, under Democratic economic/fiscal policies. It would make Clinton feel good and he'd be more inclined to stump for Obama, and it would increase Obama's poll lead on trust on economic issues.