Following yesterday's breathtaking sell off on Wall Street and with the Asian markets basically in free fall this morning and given it is near impossible to see which market is leading which market, today is the sort of day that we may witness personal and professional tragedy play out in New York. Wear your seat belts. The sun will come up tomorrow (even George W. Bush can't fuck that up) and the long over due restructuring of world markets (ours included), the very way we do business can begin. If you have a weak stomach it might be best not to watch the news for a few days. This ain't gonna be pretty.

Looks like capitulation, which is the darkness before the dawn.

In a way it's good that it came faster than last, taking 1 year to get here instead of 2+. All the sooner to head back up.

For those of you that are young enough to expect a few more cycles during your investing life, here's a tip: When the S&P closes below its 20 month moving average (which happened this time in Jan 08), get out of equities, and stay out until it comes back up above it.

Unless you're a professional trader, there's no reason to hold a long stock position in a bear market (one definition of which is, "when the S&P is below its 20-month moving average)

you're seeing is a lot of money going to the sidelines. capitulation is the technical term.

It's going to be monumentally trans formative. The dominoes are falling and the bottom is nowhere in sight.

You simple minded twit. The market is falling in anticipation of an Obama victory. Once he loses the election, and he will, then it will rebound.

Jack

Right after Black Monday I was walking my then toddler Jesse to his play group in the Village (I remember feeling really insanely happy because of the good weather and Jesse's chatter), when we came across a web of police tape and cops. Someone had jumped out of a window high above, not long before we passed.

It's not something the kids should see.

But you know what, we all said this kind of thing would happen if GW was elected. We said it, we shouted it, we screamed and fought. But nothing could stop this train wreck. The neocons had to play it out.

If it plays out the way the futures are indicating it will, we may very well see some people jumping from high places again. I have just enough experience with the market to be dangerous but someone I know well and trust told me he sees 7,500 coming up. This is going to be painful.

and 2001, the result of "dumb investors, haha" not the result of Big Dawgs policies that we were still under.

In any case, it sure looks like the DOW is Bearish For Bammie. Can't he just walk across the Hudson, touch the ticker screen, and make it all better?

Isn't it?

Sgt_ROCK:

the $2 trillion lost in and 2001, the result of "dumb investors, haha" not the result of Big Dawgs policies that we were still under.

JackDallas:

You simple minded twit. The market is falling in anticipation of an Obama victory. Once he loses the election, and he will, then it will rebound.

Republican fuckups of the early 2000s were still Clinton's fault. Republican fuckups of the late 2000s are already Obama's fault. In between were the Bush 'glory years'.

That's a scary number. Do people have any idea how long it will take us to recover from that number? We'd have to have 15% growth every year to see12,000 again in the next presidential term.

Nah, not Obama.

What America needs is the "War Hero" McCain. And you know he's a "War Hero" because he told you so, right?

With nothing but the utmost respect and regard, I have to say, I simply don't recall you fighting or screaming against the evils of the Bush regime and the neocons nor joining in with anyone else who did over the past four years, until recently that is, and I so appreciate what you have written on the subject lately .... I may be sorely mistaken.

In general, I am rather surprised to see posters NOW very pointedly upset at the course this campaign has taken, who, in my view, should have known this was the way the GOP operates all along, but were silent. Now, they care .......

I posted that this feels like 1929 must have felt and for many of the same reasons. For whatever reason George W. Bush decided to govern on the economy like Herbert Hoover and we are getting the same result. Bush is now a lock for worst President ever.

and works for one of the brokerage houses, says to hesitate about getting back in even when a bottom appears. there may be several false 'bottoms' and better to miss the absolute bottom and buy in four or five hundred points on the upside.