Spring Miracles Admin
Number of posts : 1440 Age : 68 Location : In My Fortitude Registration date : 2007-08-05
| Subject: Global Markets Taking a Bloodbath Mon Jan 21, 2008 11:53 pm | |
| It is being reported on all economic forums that all global markets are in a panic and taking a major bloodbath. Expecting the U.S. market to plunge upon opening in the morning.
It would be wise to go to the bank and have cash on hand because if this gets out of control the banks will freeze all funds to prevent a total banking collapse.
It is 11:50 p.m. my time - I believe 14:46 Japan time - the Nikkei is plummeting. Down as much as 748 points. This is a dire warning for the U.S. Markets. (Okay just editing my post. Nikkei closed down 752.)
German headlines are screaming BLOODBATH - PANIC!
This is just the beginning.
I am providing a link to Nikkei - although by the time you look it could have closed higher or lower. They don't seem to have a safety cap like the Dow. I know if we start to tank fast they will close the trading for at least an hour and then reopen. It all depends again on the trading if they would close for the day. http://www.nni.nikkei.co.jp/CF/FR/MKJ/ | |
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Spring Miracles Admin
Number of posts : 1440 Age : 68 Location : In My Fortitude Registration date : 2007-08-05
| Subject: Re: Global Markets Taking a Bloodbath Tue Jan 22, 2008 12:20 am | |
| India market stop kicked in after two minutes. Plunging fast. The market was shut down. Don't know if it will come back up. | |
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Spring Miracles Admin
Number of posts : 1440 Age : 68 Location : In My Fortitude Registration date : 2007-08-05
| Subject: Re: Global Markets Taking a Bloodbath Tue Jan 22, 2008 12:22 am | |
| - Quote :
- NYSE Sets 2008 'Circuit Breakers'
By a WALL STREET JOURNAL Staff Reporter December 31, 2007 6:22 p.m.
NEW YORK -- The New York Stock Exchange announced its first-quarter 2008 "circuit-breaker" trigger levels that would halt trading for certain large market declines.
Circuit-breaker levels are set quarterly as 10%, 20% and 30% of the Dow Jones Industrial Average's average closing values of the previous month, rounded to the nearest 50 points.
(Meanwhile, there was no announcement on program-trading "collars" since that market mechanism was discontinued in November 2007.)
The first two circuit-breaker triggers were set at the same level as currently; the third was set at a slightly lower trigger point than currently:
• Level 1 Halt: In first-quarter 2008, a 1,350-point drop in the DJIA before 2 p.m. EST will halt trading for one hour; for 30 minutes if between 2 p.m. and 2:30 p.m.; and have no effect if at 2:30 p.m. or later unless there is a level 2 halt.
• Level 2 Halt: A 2,700-point drop in the DJIA before 1 p.m. will halt trading for two hours; for one hour if between 1 p.m. and 2:00 p.m.; and for the remainder of the day if at 2 p.m. or later.
• Level 3 Halt: In the event of a 4,000-point decline (down from the previous quarter's 4,050-point trigger), the market would close for the day, regardless of the time. | |
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masterindisguise Moderator
Number of posts : 1142 Age : 64 Location : earth Humor : twisted Registration date : 2007-08-09
| Subject: Re: Global Markets Taking a Bloodbath Tue Jan 22, 2008 10:33 am | |
| People have always told me to invest in the stock market, " it's safe, the best way to make money and invest in your future" they said. I never did, it never felt right to me, just thinking about it made me anxious. I'm so glad I listened to myself for a change. | |
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Spring Miracles Admin
Number of posts : 1440 Age : 68 Location : In My Fortitude Registration date : 2007-08-05
| Subject: Re: Global Markets Taking a Bloodbath Tue Jan 22, 2008 10:37 am | |
| MID you are lucky. We have a 401k and have lost a major proportion since the beginning of the year. We have taken a huge hit, and we are too old to wait for it to come back up. Oh well there must be a reason for this. | |
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masterindisguise Moderator
Number of posts : 1142 Age : 64 Location : earth Humor : twisted Registration date : 2007-08-09
| Subject: Re: Global Markets Taking a Bloodbath Wed Jan 23, 2008 1:16 pm | |
| its not a loss until you cash it in. Hang on to it, listen to your gut. it will probably come back up, maybe not all the way to where it was, but, it will come up. Sell or cash it in (I've never really known what a 401 k is)when you "know" the time is right. | |
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| Subject: Re: Global Markets Taking a Bloodbath | |
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