 | ||||
| ||||
| | ||||
| ||||
| Moderated by: AgentOregon |
|
||||||||||||||
| For Dow, another 12-year low | Rate Topic |
| Author | Post |
|---|
| Posted: Mon Mar 9th, 2009 10:04 pm |
|
1st Post |
|
Neo Head Loon - Original M.A.I.M. 
|
http://money.cnn.com/2009/03/09/markets/markets_newyork/index.htm?postversion=2009030915 For Dow, another 12-year low S&P also finishes at lowest level in more than a decade as Wall Street resumes its retreat on economic worries. By Alexandra Twin, CNNMoney.com senior writer Last Updated: March 9, 2009: 4:16 PM ET NEW YORK (CNNMoney.com) -- Stocks tumbled Monday, with the Dow and S&P 500 ending at fresh 12-year lows, as Merck's $41 billion purchase of Schering-Plough failed to distract investors from worries about the economy. The Dow Jones industrial average (INDU) lost 80 points, or 1.2%, to 6,547 according to early tallies, closing at its lowest point since April 15, 1997. The S&P 500 (SPX) index lost nearly 7 points or 1%, to about 676, ending at its lowest point since Sept. 12, 1996. The Nasdaq composite (COMP) lost 25 points or 2%, to 1,268, closing at its lowest point since Oct. 10, 2002. Stocks slipped in the early going, rallied through the mid-morning and then slipped again near midday. "Valuations are reasonably attractive outside of financials, but most investors are in defensive mode," said Thomas Nyheim, portfolio manager at Christiana Bank & Trust Company. "They've seen too many losses and are sitting on the sidelines." Nyheim said stocks aren't likely to make a bigger move up until later in the year. In the short term, investors will be keeping an eye on the fluctuations in the credit markets, and the weekly and monthly employment figures. Also in play: Comments from influential investor Warren Buffett that the economy has fallen off a cliff, but that it will recover. Stocks mustered gains Friday -- at the end of a rough week -- with the Dow and S&P 500 bouncing off 12-year lows following a bleak February jobs report. "We're seeing more of the same," said John Buckingham, chief investment officer at Al Frank Asset Management. "With an absence of good news, the path of least resistance is down." Yet, with the Dow and S&P 500 down 25% year to date, and investor sentiment at or near record lows, a short, sharp rally could be in the works, he said. "To the extent that you get some piece of good news, you could see a big rally," Buckingham said. "But right now every rally attempt is being met with selling." Since closing at all-time highs on Oct. 9, 2007, the Dow has lost nearly 53% and the S&P 500 has lost 56%. Comment: Change we can count on! Whoooo Hooooo! The Magic Negro is just doing a bankup job as reflected by invester confidence! Boy, it doesn't get better than this! Imagine the job he'll do on (not with) health care in this country! 
____________________ (Avatar created by OMNT.) “Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.” Winston Churhill |
||||||||||||||
| |||||||||||||||
| Posted: Tue Mar 10th, 2009 02:10 am |
|
2nd Post |
|
GravyBoat Moderator 
|
Yeah, now it's getting really fucked up.
____________________ 
|
|||||||||||||
| ||||||||||||||
| Posted: Fri Mar 13th, 2009 09:46 pm |
|
3rd Post |
|
OMNT Moderator 
|
time to buy.
____________________ Live the legend |
||||||||||||||
| |||||||||||||||
| Posted: Fri Mar 13th, 2009 09:47 pm |
|
4th Post |
|
OMNT Moderator
|
I ain't dumb
____________________ Live the legend |
|||||||||||||
| ||||||||||||||
| Posted: Sat Mar 14th, 2009 12:02 am |
|
5th Post |
|
Neo Head Loon - Original M.A.I.M.
|
OMNT wrote: I ain't dumb The jury's still "out" on that one amigo!  
____________________ (Avatar created by OMNT.) “Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery.” Winston Churhill |
||||||||||||||
| |||||||||||||||
| Posted: Sat Mar 14th, 2009 05:56 am |
|
6th Post |
|
AgentOregon Lead Administrator 
|
Dow Jones is up...9% this week! Woo Hoo! We're rich...again.
____________________ Youth is fleeting but immaturity can last a lifetime. AO Democracy is the theory that the common people know what they want, and deserve to get it good and hard. H.L.Mencken |
|||||||||||||
| ||||||||||||||
| Current time is 12:05 am | |
| SpeakFreeForum > General Topics > Business > For Dow, another 12-year low | Top |
