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Original poster

Woah, US stock Market crashing!

42 replies

SeaShellsOnTheSeaShore · 06/05/2010 20:31

Down 1000 points, blue chips crashing, on twitter and CNN, BBC not turned to it.

Whoever wins tonight will have a nightmare day one if this continues- what ever colour.

As someone on Twitter just said, have they only just noticed Greece?!

OP posts:
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Coolfonz · 06/05/2010 22:46

also remember the Dow is at 10500ish, but it was at 9800ish in Jan/Feb time ish ish, so if it breaks below 10000, then look to 9800, if it goes below that etc etc...

claig · 06/05/2010 22:45

"also i got no idea what makes the markets do what they do"
well you're in good company, neither have Gordon Brown and Alistair Darling

Coolfonz · 06/05/2010 22:44

when i say im well off i mean my punts are well down...ie: i lose money

Coolfonz · 06/05/2010 22:43

heheheh. im not telling. but i dont trade (except for myself and dont take any advice from me im well off) or broker, im just a lowly scumbag. im also leaving in a few weeks to look after mi ickle baby boy. which is why im mucking about on MN when i shd be working. mind you im not working today either...

i work in a rather odd part of the finance/energy sector but i come from another profession entirely. but look i dont want to be outed, my opinion on markets is no more valid than yours, i prefer the politics. basically the system sucks.

so, as for today, it looks like debt contagion/the ability of greece to actually see through its fiscal measures/ etc is what is spooking the Dow...

tomorrow? no fucking idea, could bounce like mad, could go on down...just look at a grapch (Google is good) see the resistance levels etc, v easy to do...will it break below/above certain points etc...

claig · 06/05/2010 22:34

what markets do you work in? Billingsgate?

Coolfonz · 06/05/2010 22:31

heheheh, ive driven 14 hours today! im not a blinkin' robot.

beep meep.

also i got no idea what makes the markets do what they do. if i did i'd be minted.

i was good up to the recession, got that right, since then, not a fucking clue.

BeenBeta · 06/05/2010 22:30

They might recover but then again the FTSE 100 was at 6238 on 5 May 2000 and is only 5261 today.

That is down about 15.5% in a decade.

TheCrackFox · 06/05/2010 22:28

"been travelling got no idea about this"

Got your alibi all sorted then?

Katisha · 06/05/2010 22:20

Oh bums my weedy shares are going to crash again...Was hoping they might cover DSs tuition fees in 10 years. Will they recover in 10 years?

Coolfonz · 06/05/2010 22:19

been travelling got no idea about this, anyway, not my branch, im quitting anyway, fuck em heheh...

why wd markets stay down 3.5pc if its a glitch? it's debt...greece etc

good time to buy BP shares tho, dividend yield must be tasty, 6pc ish ish?

Original poster
SeaShellsOnTheSeaShore · 06/05/2010 22:15

Lol orm

I'm still at the stage.

OP posts:
OrmRenewed · 06/05/2010 22:11

Good! We need any help we can get

Francagoestohollywood · 06/05/2010 22:11

I thought the City made billions with money from Europe in the last decade, no?
I wouldn't really cheer the euro going tits up.

BeenBeta · 06/05/2010 22:10

Orm - you will be raking it in. Or at least your company will.

OrmRenewed · 06/05/2010 22:08

No and no.

The company I work for buys from Europe and sells in the UK. So that is a cautious hurrah?

TheCrackFox · 06/05/2010 22:07

I'm blaming Coolfonz - inside job.

BeenBeta · 06/05/2010 22:03

Yes and no.

If you are going to Europe on holiday then yes. If you are working for a UK company that sells things in Europe you may lose yur job as Europe will not be able to buy many imported goods.

OrmRenewed · 06/05/2010 22:02

Is that the correct response?

Should I take my DC's savings account and hide it in the mattress?

mumblechum · 06/05/2010 22:00

BeenBeta, is that good news for us in terms of the currency exchange (ie if it goes tits up in 2012)?

Francagoestohollywood · 06/05/2010 21:58

I know !

BeenBeta · 06/05/2010 21:54

Well Italy would say that wouldn't they

Truth is that once Greece defaults it is hard to say where it will stop. I honestly cannot see the Euro surviving beyond 2012 except perhaps a currency area of France, Germany and Benelux countries.

Francagoestohollywood · 06/05/2010 21:50

Media here in Italy say that the more at risk are Portugal, Ireland, Spain and the UK

BeenBeta · 06/05/2010 21:48

Me and DW make our living investing in financial markets. We took a major decision to take most of our money out in early 2007. We took the rest out at the end of December 2009.

Not making a lot of money but not losing any either for the last 3 years. We concluded that this had to end up in a giantic crash. It will when Greece and other European countries default. The recent recovery was just a bear trap.

What happened tody was a straw in the wind - just the beginning. It will be interesting to see what Asian markets and then London do tomorrow. The UK election is a side story.

This financial market issue is what will determine what happens in the next 10 years not the UK election.

mumblechum · 06/05/2010 21:39

Thank fuck we've just sold a shedload of shares. They've gone down by about £10k in the last week.

OhYouBadBadKitten · 06/05/2010 21:38

very worrying - looks really volatile after the 1000 pt bounce.

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