Black Monday

WE'RE ALL GONNA DIE!!!!!!!!!

 

The entire financial sector will suck for the near term, but the overall market, one would hope, should rebound...I'm not too confident in that, but this is some serious stuff the next pres. will inherit...

 

McCain wants less gov't regulation on what businesses do - well guess what McCain - this is the result of it - greedy people just look for a quick buck and don't care about putting the entire system at risk.

 

Something just happened, because everything just got sold off hard right now. UYG at -12%.

 

Why is Mer trading so low? Is there something I am missing?

 

It was me, I just logged onto e*trade.

 

there is a belief that this merrill deal may have been forced to make sure a collapse in the market did no occur. some feel BAC may walk away from MER in the future after the market has had more time to adjust to the shock of the weekend's events. also there may be a feeling that BAC will negotiate the deal lower.

 

the only cuts to be made are all defense and homeland budget. we cant afford the war on terror and bin laden was right he will bleed our economy to death

if we end all our wars it will save us 100 billion a year then we cut military budget from 500 billion to 300 billion we will still have by far largest military in world but help reduce our deficits but i know it will never happen

 

Our economy is going to fall like a stack of cards.

Run for the hills! Run for Canada!

 

(thread title)....was not as bad as the drop in the 80's. And it took about 23% with it, not 5%.

 

There is absolutely no confidence in the market. Tank tank tank...

Good thing I'm not retiring any time soon.

 

God f-king damn, 1500 points on two mondays in a row - this is pathetic.

 

Obama's poll numbers go up, Sam's portfolio goes down.

seems like a fair trade...

 

I'm going to put my money on the craps table, at least I don't lose my money this fast.

 

This is the big one, guys.

Utter capitulation. Forced selling everywhere.

The market is officially way OVERSOLD. There is no rationality anywhere anymore. In a rational world, people would be devouring these stocks at obvious firesale prices. Problem is, we're not in a rational world. People are essentially stuffing trillions of dollars under their mattresses, refusing to trade.

Ridiculous.

 

How do you know it is oversold?

 

S&P 500 PE is at 13.

13!

Stocks are definitely undervalued now. The problem is, there is a disconnect between values and prices as a result of the credit crisis. Stuff is cheap, but nobody wants to buy -- they feel safer tucking their cash under the mattress. The value of the dollar is soaring into the stratosphere -- not even gold is a safe haven anymore. You'd think gold would spike back to around $900 at least with a crash like this, but all it got was a weak bounce.

 

Well, it looks like today's madness is over. The pervasive downtrend on the major indexes was broken a little while ago.