Stocks slide 311 points today

[CAwireman]

From the NYT

By FLOYD NORRIS and VIKAS BAJAJ
Published: July 26, 2007

“The credit difficulties began in the United States with investors growing worried about losses on securities that helped to finance subprime mortgages for borrowers with substandard credit, but now they have spread to highly leveraged companies as well.”

US credit difficulties contribute to a global market correction?

[GoUSC]

Our economy impacts every other country in the world. We have been the consumption & debt machine that kept the whole thing swinging. Now it has come to an end and it is rippling through the global economy.

The market was down up to 450 at one point. You typically see a mini rally at the end of the day. The real story will be what happens tomorrow and Monday.

[GoUSC]

Our economy impacts every other country in the world. We have been the consumption & debt machine that kept the whole thing swinging. Now it has come to an end and it is rippling through the global economy.

The market was down up to 450 at one point. You typically see a mini rally at the end of the day. The real story will be what happens tomorrow and Monday.

[capeman]

Watch the NIKKEI tonight to see what may lead into another bear pull in the US markets tomorrow. The Yen gained a lot today which now threatens to unwind the carry trade. If there is a violent reaction in the Asian markets this evening that will likely spread back to us in the morning.

[capeman]

Watch the NIKKEI tonight to see what may lead into another bear pull in the US markets tomorrow. The Yen gained a lot today which now threatens to unwind the carry trade. If there is a violent reaction in the Asian markets this evening that will likely spread back to us in the morning.

[NotCranky]

I think HB’s link said the worst selling in the asian markets was happening after hours.

[NotCranky]

I think HB’s link said the worst selling in the asian markets was happening after hours.

[cashman]

I wouldn’t count on any significant correction yet. The pattern has been that if you buy any dip, you will be rewarded within a few days. Why is today’s drop any different? I, too, am hoping for a substantial correction of at least 20 percent, but I’ve come to the conclusion that this market is highly manipulated, either by PPT, or market makers.

[cashman]

I wouldn’t count on any significant correction yet. The pattern has been that if you buy any dip, you will be rewarded within a few days. Why is today’s drop any different? I, too, am hoping for a substantial correction of at least 20 percent, but I’ve come to the conclusion that this market is highly manipulated, either by PPT, or market makers.

[what_a_disasta]

It wouldnt surprise me if things stabilised tomorrow and went back up for a while. I dont think they have lured enough suckers in for the really big drop yet.

[what_a_disasta]

It wouldnt surprise me if things stabilised tomorrow and went back up for a while. I dont think they have lured enough suckers in for the really big drop yet.

[PerryChase]

yeah, i don’t think they lured enough suckers yet. They need more suckers for the previous owners to cash out at the high.

To put it in perspective, today’s S&P loss is equivalent to $300 billion loss of value.

[PerryChase]

yeah, i don’t think they lured enough suckers yet. They need more suckers for the previous owners to cash out at the high.

To put it in perspective, today’s S&P loss is equivalent to $300 billion loss of value.

[Coronita]

Vrudny,

Not to sound rude, but I wouldn’t count your chickens before they hatch first. You’re starting to sound like the homeowner that is saying he/she made $$$$ in 1months of equity appreciation without having cashed out to really take the gains. The stock market is really volatile these days, and its really anyone’s guess where things are headed imho.

For reference, days like today (yesterday) were like $50k losses for me. But fortunately, there hasn’t been many days like yesterday (yet). The real question is what happens in the markets moving forward. For me, it’s going to take a reversal of 2-3 years of appreciation undoing before things are considered losses. Again, I’m not saying it’s not possible, but to point I’m not counting on my sizable “appreciation” until i cash out, which is getting more enticing these days if these downward trends continue.

Anyway, I guess the point is. It doesn’t really matter what direction you are in the market, provided your timing is pseudo right. I would say if you went short 2 years ago, you’re probably still in the red despite the drop today, but that would be my guess. Just like if you entered long yesterday, you’re probably going to be red in the near short term.

[Coronita]

Vrudny,

Not to sound rude, but I wouldn’t count your chickens before they hatch first. You’re starting to sound like the homeowner that is saying he/she made $$$$ in 1months of equity appreciation without having cashed out to really take the gains. The stock market is really volatile these days, and its really anyone’s guess where things are headed imho.

For reference, days like today (yesterday) were like $50k losses for me. But fortunately, there hasn’t been many days like yesterday (yet). The real question is what happens in the markets moving forward. For me, it’s going to take a reversal of 2-3 years of appreciation undoing before things are considered losses. Again, I’m not saying it’s not possible, but to point I’m not counting on my sizable “appreciation” until i cash out, which is getting more enticing these days if these downward trends continue.

Anyway, I guess the point is. It doesn’t really matter what direction you are in the market, provided your timing is pseudo right. I would say if you went short 2 years ago, you’re probably still in the red despite the drop today, but that would be my guess. Just like if you entered long yesterday, you’re probably going to be red in the near short term.

[Author]

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