Thread: Dow poised for a big drop?

Is this the beginning of a correction? Or something more ominous? The volume says it might be the latter! Scary!

Dow 6,000 here we come hahaa

Last 3 days have hit some nasty lows.

Wow, this is crazy.... I know I made the prediction, but that was before we saw jobs starting to be created and good earnings by some companies reporting last week..... I can't believe I got sucked into the top of the sucker's rally -- and have now ended up losing a huge chunk of my portfolio....

The stock market makes me feel like a degenerate gambler.... Every time I step out for awhile, it pulls me back in -- and then slaughters my retirement savings, and reminds me why I had been in cash for so long....

Grrrrrrrrrrrrrrrrrrrrrrrrrr.......

Cheers,

- Hakrjak

Watch the close ... if the selling accelerates in the final hour I'd get worried --- if buyers come in at the last minute, I'd say that's good. Fasten your seat belts!

Holy shit it's crashing!!!! Down 600!!! Down 700!!!! Down 800!!!

Oh man, I have never seen anything like this.

Wow -800

Dow was down -1000 30 mins ago.... And now it's back... WTF!?!

Sell out completely at the close, or stay in Stocks and hope for a bounce tomorrow???

- Hakrjak

All my stops got hit during that bounce... sitting 100% cash overnight, I may even get some sleep tonight

Rick Santelli is yelling about this impacting LIBOR rates, and wanting to check those in the morning.... This better now impact all of my ARMs, otherwise I'm gonna get slammed with a double-whammy.

- Hakrjak

Originally Posted by hakrjak

Dow was down -1000 30 mins ago.... And now it's back... WTF!?!

Sell out completely at the close, or stay in Stocks and hope for a bounce tomorrow???

- Hakrjak

Hak - If your stock investments are in your retirement account, don't panic.
Do you plan on retiring tomorrow?
Or will you be withdrawing your money in 20-30+ years from now, for retirement?
I know it's hard to do, but try to set your emotions aside for a minute, then make the better decision - what your heart and mind tell you to do.

Hope this helps.

Originally Posted by kwerner

Hak - If your stock investments are in your retirement account, don't panic.
Do you plan on retiring tomorrow?
Or will you be withdrawing your money in 20-30+ years from now, for retirement?
I know it's hard to do, but try to set your emotions aside for a minute, then make the better decision - what your heart and mind tell you to do.

Hope this helps.

I don't plan on retiring tomorrow brother -- But I do factor in the possibility of getting laid off in the next 6-12 months (You never know...), and needing to live off the money -- So I'm very active in my trading within the 401k always trying to maximize it's growth, and trying to get out of the way anytime I see huge downturns.

Cheers,

- Hakrjak

Oh that would of been fun. Had to do a double take when I looked at the markets half an hour ago. In reality if I was still doing heavy trading I would of been long before the bottom and puked right after the bounce for small change. Hope nobody here got hurt to bad, lots of nasty prints on the ECN's.

CNBC saying a trading error may have caused this drop...

Now they are saying the massive plunge was the result of a typo at a trading firm ... the guy entered (B) [Billion] instead of (M) [Million] ... Wow!

Originally Posted by PhxMJ

Now they are saying the massive plunge was the result of a typo at a trading firm ... the guy entered (B) [Billion] instead of (M) [Million] ... Wow!

Dude -- We should all be able to sue that firm! WTF!?!?! How is that even possible?

If regular people were looking for yet another reason to lose faith in the markets -- THEY GOT IT!

- Hakrjak

No trading firm program would allow (b)illion for (m)illion, maybe one zero but never 3. Just an example on the problem with fully electronic markets when there are stop runs. Does anyone remember DNDN on the day of the FDA decision?

Originally Posted by PhxMJ

Holy shit it's crashing!!!! Down 600!!! Down 700!!!! Down 800!!!

My friend messaged me shortly after school saying "The Dow just crashed 900 points." I went numb and just thought to myself, "Well, the Greek Debt Crisis S***t hit the fan and we are back to the fall of 2008."

Originally Posted by PhxMJ

Now they are saying the massive plunge was the result of a typo at a trading firm ... the guy entered (B) [Billion] instead of (M) [Million] ... Wow!

Ladies and Gentlemen, we have all been witnesses of the greatest FAIL in a long time.

News Headlines

"What happened today...it's the Matrix"
"If crude would still be trading, it would be down about $20..."

Mark Fisher from MBF on CNBC...