Dont believe in games being played? check out Nasdaq

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

The swings are going to wake the public up after today.

Wall street may have lost the trust of the sheeple after running up and then in the last 10 minutes SELLLLLLLLLLLLLLLLLLLLL!

Kind of reminds me of the eddie murphy movie.

Trading places.

-- D.B. (dciinc@aol.com), October 22, 1999

Answers

The Dow ended at 10467 or somewhere in there. I am not here to predict anything, I just am wondering what *is* going on? Why is it swinging so much? I don't normally pay attn to Wall Street since I got out of it completely this spring, but could someone please shed some light for me on this? I am curious....

-- preparing (preparing@home.com), October 22, 1999.

I am thoroughly disgusted. Here's what's going on. The market is about to tank. If it tanks, ESPECIALLY if it tanks due to Y2K the admin will have to admit the bloom is off the rose and the US has been thoroughly lied to. They have. It is.

So on Thurs IBM finally admits the truth, they're screwed due to Y2K concerns for the next two quarters. Not one quarter but two. Since as Paul Volker said, the entire global economy is now dependent upon only 50 companies, half of which don't have any earnings, this IBM developement is very, very bad juju for the market. In fact it's a disaster and the market treats it as such plunging like Maria Bartiromo's neckline on a down market day. So miraculously overnight the Krinton administration manages to "hammer out" a deal on Glass Steagal! Holy freaking blatant manipulations batman! Sad, sad, sad state of affairs. You could tell that there was a huge disconnect on Wall today as the market DID NOT ANTICIPATE this happening today. Note that it wasn't even news yesterday and BANG! Here it is. It doesn't get any planer folks, but they're running out of silver bullets at the Dusk to Dawn motel.

-- Gordon (g_gecko_69@hotmail.com), October 22, 1999.


"So miraculously overnight the Krinton administration manages to "hammer out" a deal on Glass Steagal! Holy freaking blatant manipulations batman! Sad, sad, sad state of affairs. You could tell that there was a huge disconnect on Wall today as the market DID NOT ANTICIPATE this happening today. "

Godon, where do you come up with this stuff??

I am being sincere here. Some of you guys come up with the weirdest stuff. Besides, I dont know if you were watching the pre-open shows but they WERE anticipating a marked upswing, heck I was expecting it when I got up at 4am this morning and was watching the Asians wind down and the Europeans wake up.

-- hamster (hamster@mycage.com), October 22, 1999.


www.wavechart.com

There was, as I said last week, a PERFECT wave 5 crash wave formed. But that was ONE possibility, and no doubt one that TPTB was fully aware of. That, plus the parallels to 1929 which matched ALMOST TO THE DAY, and you know there was some backroom bum-blasting going on between Greedspin and his cronies.

BTW, ask yourself this VERY simple question--How is it that IBM did not announce its news until after WED close? Surely they knew at least several weeks ago that this trend would have to be released as news. Can you imagine the effect on the markets if this was announced late last week, or even this past Monday, when the market was at a VERY critical juncture.? No amount of intervention would have likely saved the markets except for the "spreading out " of the bad news. Remember, this was within the week frame that DELL and LEXMARK announced problems.

So what do the sheeple do when given this news of Y2K being systemic? ANOTHER BUYING OPPORTUNITY.

IBM lost as much as it did in the crash of 1987, yet the damage was confined to mainly this stock!

On the Prechter page today(www.elliottwave.com), under Market Report, he specifically mentions the point in psychology when the masses suddenly "get it". He says we are not there yet. Obviously not.

When they do, they will get it right between their unseeing eyes.

-- profit of doom (doom@helltopay.ca), October 22, 1999.


Hamster, exactly what part of Gordon's post don't you get, or are questioning?

-- OR (orwelliator@biosys.net), October 22, 1999.


It use to be, a company sold stocks in order to raise capital for:

1) "risky" new businesses just starting out 2) "risky" expansion by established big businesses

Not any more.

Thirty years ago (or so), TPTB figured out how to redistribute income FROM the lower to middle class blue collar wage earner (and bottom to mid-level managers), and INTO the bank accounts of the more educated white collar high class wealthy society. NOTE: This is the time period when worker wages and benefits began to fall in the U.S. and women began to have to enter the "work force" in order to maintain the same level of income families required for a middle class lifestyle. (I could make a solid case here for the reason behind why the "morals of society" have fallen during the last 30 years...all due to corporate greed...cutting worker wages to increase corporate profits whereby FORCING women into the workforce which left no one at home to take care of middle class families, but that's another subject for another day.)

The dynamics behind why businesses sell stocks today is fundamentally different from why they sold stocks 30 years ago. Today, corporations sell stocks in order to redistribute the corporate earnings (profits) resulting from the work done by THEIR OWN workers' in order to pad the pockets of their stock holders, who in most cases, do not work for the corporation or (even) buy the products/services the corporation sells.

Ahhh, but you say, it's because people buy stock in a company that makes it possible for the company to expand and thrive. Oh really??? You mean to say corporations who post RECORD PROFITS year after year must continue to sell stock in order to finance themselves??? No, they don't HAVE to, but they do because they keep giving away their corporate profits to their stock holders INSTEAD of buying back their stocks, OR BETTER, paying it to their OWN mid to low level EMPLOYEES, who are the REAL reason behind the company success in the first place. Remember UPS workers on strike? How "profitable" was UPS during that time?

It's the mid to low level workers who actually do the work and who, after 30 years of being treated like DIRT by upper management, MUST begin to receive their fair share of company profits.

In the POST Y2k environment, employees will NO LONGER accept having their benefits and wages CUT to the bone in order to increase profits which are then distributed to filthy rich stock holders who are NOW largely OUT of the market, having cashed in their stocks, taken the workers money and run for cover from Y2k.

The universe has a mystical way of "correcting" environments "out of harmony". Y2k is the result of greedy, foolish people in positions of power who were aware of the problem and had the time and resources to fix the problem but instead chose to "squeeze" some more "worker blood" in order to keep profits at record levels and the filthy rich...filthy.

In these last days of the-market-as-we-know-it, we see wide swings. We are witnessing the last gasp by the worst of the worst greedy, foolish people who are completely addicted to working the 30 year old "REDISTRIBUTION OF WEALTH SCAM" which is the stock market, and the REAL reason behind WHY the Y2k bug has not been fixed, resulting in TEOTWAWKI.

GoldReal

-- GoldReal (GoldReal@aol.com), October 22, 1999.


Love to hear ya talk real gold....

-- Me Tonto (GoGitEm@righton.com), October 22, 1999.

Judging by what they've agreed on for the banking reform of the Glass- Steagall Act, the stock market will be very happy. There will be more huge mergers, more job layoffs, invasion of privacy, and all these kinds of things that investors like to see.

-- @ (@@@.@), October 22, 1999.

Moderation questions? read the FAQ