Maybe for the sake of keeping the forum bandwidth in check we should all stick stock market watch posts in one place... Well, it sounded good anyway... [shrug]

At 11:48, the market reports:

dow jones industrial average 10006.41 - 13.30 nasdaq 2678.03 - 53.80 s&p 500 1240.20 - 7.21 russell 2000 409.69 - 5.01 nyse composite 574.17 - 2.00 dow transports 2843.23 - 12.35 dow utilities 296.72 1.99 amex composite 775.87 - 1.13

Anybody wanna invest? C'mon, you KNOW you wanna!

-- OddOne (mocklamer_1999@yahoo.com), October 18, 1999

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Yes, PLEASE, one and only one "stock market" thread. One, and only one, "Gold" thread. Per day. Pleaasee. With ice cream and sugar on top?

-- King of Spain (madrid@aol.cum), October 18, 1999.

11:59 their time, the DJIA just dipped below 10K... You can almost - watch- the PTPB fighting to shore it up... CNBC's ticker is flowing red a LOT more than green (decliners are red, advancers are green on their ticker if you're not familiar with how they format it...) and the happy faces are looking a bit glum on that channel...

-- OddOne (mocklamer_1999@yahoo.com), October 18, 1999.

DJIA to Greenspan: "Time to rub the bunions."

-- Ron Schwarz (rs@clubvb.com.delete.this), October 18, 1999.

OddOne,

Hope your campaign goes better than mine did.

Blood in the streets this week.

-- ..- (dit@dot.dash), October 18, 1999.

Not only are the happyfaces looking glum, but the happyvoices are *literally* quivering.

Looks like the dam may have burst.

-- Ron Schwarz (rs@clubvb.com.delete.this), October 18, 1999.

Bloomberg TV interviewed an individual that stated very few people are now buying on the DIPS. Say what?? Is this now a BEAR market??? Is freddie making money today???

-- y2k dave (xsdaa111@hotmail.com), October 18, 1999.

Yeah and the Polly-in-Chief, Bill Griffeth (who always snickers when Y2k is mentioned) is looking decidedly green around the gills.

-- Fiver 2000 (fiver2000@yahoo.com), October 18, 1999.

I just heard a happy-face on CNBC say that it looked like we now officially have a recession bewing... WooHoo!!! Sheeple unite!!!

-- OddOne (mocklamer_1999@yahoo.com), October 18, 1999.

PREDICTABILITY!!!!!!!!!!!

This drop has been forecasted for months now here on the forum.

And now here it is happening in real time---just as forecast.

I think the next forecasted events--once the market drops was either run on banks and then hoarding.

Just a matter of weeks before we are witnessing those forecasts coming to fruition also.

And people may ask----How did you know the stock market was going to tank???

How did you know people would panic closer and closer to the end of the year??

How did you know there would be a run on banks???

How did you know all this would happen before the end of the year???

Well-------how did you all know the market was going down?

Are you all Psychic? Or is there some clue that you see in the future that you believe will drive the masses??

Come on Tell us your secret.

Was this a coincidence? I Saw a book that read stocks at 36,000 Do you doomers have some inside info. or something????

-- D.B. (dciinc@aol.com), October 18, 1999.

Well, if you've been around here for a year or so, you tend to pick up a few things :-)

People are still basically clueless...most guys in the cubicles around me are talking about football, movies, shops and restaurants they visited this weekend.

-- Tim (pixmo@pixelquest.com), October 18, 1999.

OddOne,

An excellent idea. However, by tomorrow, today will be yesterday. That's why a thread was set up late last night at:

Stock Market Monday Oct 18 consolidated thread

containing the date in the subject line.

Jerry

-- Jerry B (skeptic76@erols.com), October 18, 1999.

WHAT, the stock market is going DOWN and nobody is buying? Why didn't anyone warn me??

WHAT, gold is going UP and I missed my chance to buy it when I could? Why didn't anyone warn me??

WHAT, the banks can't give me my money because there is not enough CASH and withdrawal limits have been imposed? Why didn't anyone warn me??

WHAT, you mean Y2K really is a BIG PROBLEM, and it's too late for me to do anything to prepare? Why didn't anyone warn me??


Things that make you go Hmmmmmmm. (Or maybe, things that make you go Moooooo.)

-- King of Spain (madrid@aol.cum), October 18, 1999.

It's probably a manipulated recession to build a dam against the rising inflation. If so, it did not have to be in this way, there was the alternative of:

Expanding the global economy,

And/Or raising the currency value in American economically strategic 3rd world nations. (That would involve some form of debt forgiveness.)

America does need to be extremely cautious about entering or inducing a recession. Under "normal" conditions America cannot enter a great depression. The global economy alone is a preventive measure, but we have the peculiar window of the Y2K broken code, and infrastructure failures could instigate the movement of a recession into a now rare depression. We're witnessing, as we have all read in one persons post talking about a Philadelpia school district, the Soviet Collapse Syndrome starting to unfold, in which people become so discouraged and frustrated they are walking away from their employment. As usual the nations finest corporations are not carrying their end in fighting to retain an economy, there is a lack of publically displayed patriotism and loyalty to the people, because in a healthy society those Visa, mortgage, and loan companies would send a reassuring message of confidence to those employee's that all will be worked out, not to panic, and the companies will bend to not break. We in turn send those companies a reassurance.

(I think. I make no claim to knowing it all in this.)

-- Paula (chowbabe@pacbell.net), October 18, 1999.

One astute reader posted a "Dow Jones" window linked to the running average on a thread Friday....

Since I am html-challenged, can he (or she) repeat that button here?

----

DB - I have no specific way to answer your (implied) question about how things are apparently more accurately predicted here, rather than on other, more "politically corrupt" and fashionable sources of information such as the mass mainstream media, convetntional wisdom, and the public-at-large.

Other than the descriptions of each "mainstream" source of opinionion are self-fullfilling. They do not seek to independently search for information, then independently get that information severely criticized, but rather seek for confrimation from other supposed experts, or are used to simply serve as arguements for/against other observers. In which case, all on the "Sunday morning talk show circuit" are interested in in their own opinion. Not the independent truth.

Seriously, here (in this forum at least) each idea is subject to significant independent criticism (pro/con) and to a vast range of audiences - so no idea, no conclusion goes unchallenged once presented. Second, here, the readers and posters are - by definition - skeptical of the "conventional wisdom" put out by the mass media, and have seen hundreds of examples of such conventional spin and misinformation.

Are the conclusions reached here more likely to be correct? Maybe, maybe not. Given the same information publically available, certainly the general conclusions reached here are going to less "restrained" to match the latest spin that the administration and media are presenting.

Given that all such "spin" is based on lies, (by definition of "spin" and propaganda, rather than honest, unbiased reporting), it is certainly more likely that the conclusion reached based on unbiased information is going to be more likely to be correct, aren't they?

Now, is all information presented here correct? Some, undoubtably, is incorrect. Some of the conclusions reached here are incorrect - just as some/many/most/all of the "conclusions" reached by the administration are incorrect - because the administration has an overriding agenda (keep Clinton in power through the media) and a message (keep your money in the banks) that they are trying to make come true - regardless of the facts and conclusions reached independently.

-- Robert A. Cook, PE (Marietta, GA) (cook.r@csaatl.com), October 18, 1999.

Let's go back a dozen years to October 1987. The market lost 23% in one day. In current terms, this is a Dow in the mid-7000 range... as of tomorrow morning. The world did not end after the crash in '87. I highly doubt it will end after the current correction. Ironically, the mid-7000 range is probably an appropriate valuation for the current market. One of two things will happen... the market will grow into its current valuation... or it will drop. I'm willing to wait... but watching the Dow on a daily basis is a fool's errand.

-- Ken Decker (kcdecker@worldnet.att.net), October 18, 1999.

DJIA live - via yahoo

http://finance.yahoo.com/q?s=^DJI&d=1d

Hope this helps whoever was looking for dow info.

-- hamster (hamster@mycage.com), October 18, 1999.

Oh - I know that, Ken. But is interesting to see those who have so marketed their lives and built supposed reputations based on their ability to predict a bull market (incorrectly, I might add!) that they had no control over, try to justify their assumptions about a (potential) temporary bear drop in the same market ......

And none, so far, have wanted to admit that they cannot control the public. Or is the public's "collective wisdom" greater than those who are on TV and radio trying to push their own agendas and their own funds and "reputations?

-- Robert A. Cook, PE (Marietta, GA) (cook.r@csaatl.com), October 18, 1999.

As of 1:37 EST, DJIA is 10037.13 + 17.47 (+ 0.17%)

Market closes in 2 hours and some change

-- Preparing (preparing@home.com), October 18, 1999.

FWIW:

CNNfn poll: What will the Dow do?

-- Tim (pixmo@pixelquest.com), October 18, 1999.

DOW -8.86 10010.85 -0.09%
NASDAQ -84.14 2647.69 -3.08%
S&P 500 -9.54 1237.87 -0.76%
BOND -3/8 97 11/16 6.29%
last updated at 10/18/1999 2:48 p

-- Ashton & Leska in Cascadia (allaha@earthlink.net), October 18, 1999.

That CNNfn poll accurately reflects the concern recently expressed by analysts: that the market will keep sliding because there's not enough "fear" yet. Bear markets find a bottom only when the majority of investors get spooked, just as bull markets hit their peak when the absolute consensus is that they'll just keep going up. This poll seems to reflect what the old "Greater Fool" theory describes: a market where entrants believe that it's OK to buy stock at a foolishly high price because there will always be a greater fool who will come along to buy it from you at an even higher price.

Ain't hardly nobody worried about the market right now, which is not good news.

-- Mac (sneak@lurk.hid), October 18, 1999.

Aw, Gee Ken, I never saw a crash before. Don't ruin the fun for me.

Aren't you glad you got out early this year? I know I am. But since you are more astute in these matters, when do you think it would be a good time to get back in? I'm guessing by March we should know the answer to that.

Hope the new job is going well.

Keep your...

-- eyes_open (best@wishes.not), October 18, 1999.

WOW......WHAT A MARKET CRASH TODAY. Dow up Gold down.

Wrong again dommers.

-- (HAHAHA@haha.com), October 18, 1999.

Oh?

Yep - went up in the last 45 minutes.....now, look again.

Since July, S&P has dropped 16% (max of 1450, now down to 1250. That was a broad peak - spanning a turnover point June-July, and steadily dropping ever since.

In the last 5 days, S&P has lost 6.4% .... steadily, steadily going down .....

Now, even after today's bump-in-the-road, the S&P has almost equalled what it was in January. Wait until that figure gets publicized.

All this only 18 days into the quarter - and nobody has yet figured out that Christmas sales are going to be miserable.....

-- Robert A. Cook, PE (Marietta, GA) (cook.r@csaatl.com), October 18, 1999.