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IDS World Markets Fri 24th October 08


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#31 aussiebear

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Posted 24 October 2008 - 05:54 AM

Anybody have the circuit breaker rules handy?  It could be a boring day in the market, if it's closed.

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http://www.nyse.com/...t_breakers.html

#32 hokahay

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Posted 24 October 2008 - 05:58 AM

Anybody have the circuit breaker rules handy?  It could be a boring day in the market, if it's closed.

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circuit.JPG

http://www.nyse.com/...t_breakers.html


If it closes for the day. It won't be boring.

#33 Jetlag

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Posted 24 October 2008 - 06:04 AM

Nudder Gold post, just stating the obvious here

http://www.capitalst...ndpost&p=703228

#34 Jetlag

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Posted 24 October 2008 - 06:06 AM

French Crac just tested the 1998 closing lows.

#35 Pretzel Logic

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Posted 24 October 2008 - 06:28 AM

The funny thing is that all of the "Bullshit Bears" can't stay short cause they fear the PPT will blow them out. The reality is that the PPT has already blown themselves out and has finally decided to "let er' go"...

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You really can't blame people. Some bears have been badly, badly burned by magic rallies (I'm one of them -- lost 5 figures in '01 and again in '03) -- so you can't blame people for "learning" from their mistakes.

Many of us have seen this coming for years -- but it never seemed to arrive on schedule. And after years of waiting for "the moment," when it finally does arrive, it seems lightning-fast by comparison.

I'm short now and have been since the 10/14 highs, but I gotta tell ya', it's been hell on my nerves staying short that whole time. I got a good entry and decided early on I wasn't giving up my "position" unless I was stopped out. I was convinced this time WAS different, but that didn't make it easy. As traders, we know the only real judge and arbiter of our views is the price itself. It's hard to keep holding those views in the face of 900 point rallies -- especially if you've been creamed in the past by the "invisible hand." Your confidence in your charting and your view of the fundamentals wears down hour by hour, day by day, year by year, as the market always seems to turn back up.

That said, the quote that kept coming to mind was from Reminiscences of a Stock Operator (paraphrased): "Well, it is a bear market, ya know!" I came within an inch of pulling the trigger yesterday and taking profits on everything, but I talked myself down (as I said, sold 20% of my puts, kept the rest).

I just don't think you can fault anyone for taking profits on their shorts (going long, maybe). This market is insane, and it is different this time.
In honor of the times, back to the 2008 signature:

"When Black Friday comes, I'll stand down by the door,
And catch the grey men when they dive from the fourteenth floor,
When Black Friday comes, I'll collect everything I'm owed,
And before my friends find out I'll be on the road,
When Black Friday falls
you know it's got to be...
Don't let it fall on me." - Steely Dan, Black Friday

#36 swordfish

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Posted 24 October 2008 - 06:28 AM

French Crac just tested the 1998 closing lows.

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They suspend DJIA futuers. OMG.
DAX (german indice) was down 11.00% now, "only" 8.9%
Jail, not bail!

#37 TURK

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Posted 24 October 2008 - 06:33 AM

Nicholas Taleb and Benoit Mandelbrot on NPR this week. Podcast talking about the markets and how bad this will be. Warning: Graphic content...financially speaking of course <_<


http://www-tc.pbs.or...1021_solman.mp3
"Damn, the price of this stuff jumps around alot!"
Hokahay October, 2008

"Analyzing the spot price of gold is akin to analyzing the output from a randon number gereator." -ancient chinese proverb

#38 Charmin

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Posted 24 October 2008 - 06:42 AM

A guy at work claims he's lost 50% and waiting for the market to come back. What's another 10%. There may be a few million people like him.

It appears we're potentially going to have the lowest close today, unless the pigmen bankers have a bright idea.
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A true Master averts disaster

#39 swordfish

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Posted 24 October 2008 - 06:45 AM

Czech PX50 -10% down
Russian RTS - 10% down
Indian BSE30 - 10% down

Blood on the streets everywhere
Jail, not bail!

#40 Jetlag

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Posted 24 October 2008 - 06:47 AM

Extended Dacha & Vodka Weekend for Russian traders

"Russia's Micex Stock Exchange suspended trading at 2:10 p.m. until next week after shares slumped. "

http://www.bloomberg...vwS8&refer=home

#41 Jetlag

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Posted 24 October 2008 - 06:48 AM

A guy at work claims he's lost 50% and waiting for the market to come back.  What's another 10%.  There may be a few million people like him.

It appears we're potentially going to have the lowest close today, unless the pigmen bankers have a bright idea.

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The market only has to come back 100% for him to get even.

#42 hokahay

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Posted 24 October 2008 - 06:53 AM

A guy at work claims he's lost 50% and waiting for the market to come back.  What's another 10%.  There may be a few million people like him.

It appears we're potentially going to have the lowest close today, unless the pigmen bankers have a bright idea.

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What's another 50%.
:o :o

#43 Pretzel Logic

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Posted 24 October 2008 - 06:53 AM

A guy at work claims he's lost 50% and waiting for the market to come back.  What's another 10%.  There may be a few million people like him.

It appears we're potentially going to have the lowest close today, unless the pigmen bankers have a bright idea.

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Many, many millions still holding onto that hope. Our generation has never seen a Great Depression-style capitulation, where stocks are truly despised at the bottom. I'm afraid we're about to. :ph34r:
In honor of the times, back to the 2008 signature:

"When Black Friday comes, I'll stand down by the door,
And catch the grey men when they dive from the fourteenth floor,
When Black Friday comes, I'll collect everything I'm owed,
And before my friends find out I'll be on the road,
When Black Friday falls
you know it's got to be...
Don't let it fall on me." - Steely Dan, Black Friday

#44 Frenchy

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Posted 24 October 2008 - 06:55 AM

The good thing is in a few days we are gona have oil for free.
<_<

Buy the dip they they said... yeah right, and cut the tip.

I see smoke on the horizon.
:ph34r:

Something is pending, it does not make much sense. We either fight with sticks and stone next years, or this bounce very soon.
"Technological progress is like an axe in the hands of a pathological criminal." Einstein

#45 Jetlag

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Posted 24 October 2008 - 07:01 AM

What's another 50%.
:o  :o

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It's 75% and the market has to go up 566.6% for him to get even.

Any 6 bagger stock pick out there now?





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