Author Topic: stock market drops 400!  (Read 17035 times)

Offline Chaikel

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Re: stock market drops 400!
« Reply #40 on: August 08, 2011, 01:04:17 PM »
BTW. For those of you who don't have internet enabled phones (or who find the following method easier) you can text 'DJIA' to 41411 for the latest DOW price.
You can also text 'CRUDE' to 41411 to get the price per barrel of crude, and GASPUMP to get the average price of a gallon of gas in the US
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Offline Chaikel

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Re: stock market drops 400!
« Reply #41 on: August 08, 2011, 01:38:36 PM »
On a day like today there will usually be a ~100 point change close to closing. Question is will it be up or down. If it's up, not a particularly bad close, if it's down...
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Online AsherO

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Re: stock market drops 400!
« Reply #42 on: August 08, 2011, 01:50:14 PM »
On a day like today there will usually be a ~100 point change close to closing. Question is will it be up or down. If it's up, not a particularly bad close, if it's down...

~100 down won't be too bad, considering we're down 400.
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Offline Chaikel

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Re: stock market drops 400!
« Reply #43 on: August 08, 2011, 01:52:09 PM »
~100 down won't be too bad, considering we're down 400.
Down meaning further down. And when I posted I thought it was closer to 300
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Offline Chaikel

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Re: stock market drops 400!
« Reply #44 on: August 08, 2011, 02:10:38 PM »
I didn't realize. It seems that they changed the market "circuit breakers" in '97. So basically unless the market drops another 775 points within the next 20 minutes, there wont be a stop until a drop of 2400

http://usequities.nyx.com/markets/nyse-equities/circuit-breakers

Seems like too much to me
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Offline FlyFirst

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Re: stock market drops 400!
« Reply #45 on: August 08, 2011, 02:11:51 PM »
Dow down under 11k

Offline FlyFirst

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Re: stock market drops 400!
« Reply #46 on: August 08, 2011, 02:13:54 PM »
Back up. Roller Coaster

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Re: stock market drops 400!
« Reply #47 on: August 08, 2011, 02:16:09 PM »
I didn't realize. It seems that they changed the market "circuit breakers" in '97. So basically unless the market drops another 775 points within the next 20 minutes, there wont be a stop until a drop of 2400

http://usequities.nyx.com/markets/nyse-equities/circuit-breakers

Seems like too much to me

I think we have a huge problem on our hands if the Dow drops much less than that, even 10% (1k+) would be a huge hit, considering how much it has already lost over the past few weeks.
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Offline Chaikel

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Re: stock market drops 400!
« Reply #48 on: August 08, 2011, 02:16:34 PM »
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Offline Chaikel

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Re: stock market drops 400!
« Reply #49 on: August 08, 2011, 02:17:27 PM »
I think we have a huge problem on our hands if the Dow drops much less than that, even 10% (1k+) would be a huge hit, considering how much it has already lost over the past few weeks.
+1, what I'm saying is that the market should be short circuiting way before a 2400 point drop
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Re: stock market drops 400!
« Reply #50 on: August 08, 2011, 02:22:05 PM »
+1, what I'm saying is that the market should be short circuiting way before a 2400 point drop

All I'm saying is, circuit breakers or not, we're in deep $#!& if we're dropping enough for the circuit breakers to have kicked in (at '97 thresholds), even if it doesn't fall any lower.
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Offline Chaikel

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Re: stock market drops 400!
« Reply #51 on: August 08, 2011, 02:26:14 PM »
600
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Offline Chaikel

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Re: stock market drops 400!
« Reply #52 on: August 08, 2011, 02:29:18 PM »
The good news for me - $1 is currently buying 3.57 Shekel
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Offline arie

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Re: stock market drops 400!
« Reply #53 on: August 08, 2011, 02:30:40 PM »
listen to this tough luck: i have a position in SOLR,  just this morning the company decided to change the symbol to GTAT. in the mean time the stock is down %10 and i have no way of getting out because my broker didn't yet get the updated shares (whatever that means) so they are not available to sell  :(

Offline skyguy918

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Re: stock market drops 400!
« Reply #54 on: August 08, 2011, 02:33:07 PM »
I noticed something odd earlier, and now I see someone has written about it. Basically, treasury rates are down, while if the downgrade was the big issue for investors right now, they'd be skyrocketing. Investors are moving out of stocks, and into gold or bonds. If they believed the downgrade, they should be selling every last treasury bond.

This guy thinks the issue is the problems in the EU:
http://www.readability.com/read?url=http://www.nydailynews.com/opinions/2011/08/08/2011-08-08_market_plunge_dont_blame_the_standard__poors_downgrade.html

Offline Chaikel

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Re: stock market drops 400!
« Reply #55 on: August 08, 2011, 02:35:57 PM »
C and BAC are getting slammed
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Online AsherO

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Re: stock market drops 400!
« Reply #56 on: August 08, 2011, 02:56:53 PM »
listen to this tough luck: i have a position in SOLR,  just this morning the company decided to change the symbol to GTAT. in the mean time the stock is down %10 and i have no way of getting out because my broker didn't yet get the updated shares (whatever that means) so they are not available to sell  :(

You can always get a short position equal to the long position you own.

Since it doesn't sound like a liquidity problem, either you own the shares and you could sell your position, or you don't own them yet and you're not losing anything. Can't your broker explain this to you?

C and BAC are getting slammed

That's bad for us churners.
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Offline Dan

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Re: stock market drops 400!
« Reply #57 on: August 08, 2011, 03:11:13 PM »
The good news for me - $1 is currently buying 3.57 Shekel
What's going on with the Shekel?
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Chaikel

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Re: stock market drops 400!
« Reply #58 on: August 08, 2011, 03:20:38 PM »
What's going on with the Shekel?
I believe the dollar is up against most currencies. At least according to damaxter.
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Offline mercaz1

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Re: stock market drops 400!
« Reply #59 on: August 08, 2011, 03:23:23 PM »
looks like we might get some back at the close but it will still have dropped close to 300