Foreign markets PUNISHED

[sweeps]

U.K down 4.7%
France down 5.9%
Germany down 6.7%
India down 7.4%
Hong Kong down 5.5%
Canada down 4.8%
Brazil down 6.9%
Japan down 3.9%
China down 5.1%

Stock Market Plunge Worldwide

[disneysteve]

Great. I guess that means tomorrow will be ugly when US markets reopen.

[banditfist]

Most of those markets have another day to add mroe blood in the water tomorrow before the US gets to.

[Scanner]

Glad I hedged/diversified with silver.

My next move will be, as the world slows down, to buy up some oil, for when people decide to burn it again like crazy.

[disneysteve]

buy up some oil, for when people decide to burn it again like crazy.

When did anybody stop burning it?

[Scanner]

LOL. Good point.

My futuristic opinion is that with an Indian and/or Chinese market contraction, oil will become more plentiful. Inventories will rise after winter. Buy it if it gets to $60/barrel.

You could see gas prices drop to $2.00/gallon.

Of course, Iran is always the wild card.

[Ima saver]

I think I will stock up on toilet paper again!

[sweeps]

I think the author of the AP article wore out his thesaurus looking for synonyms for "went lower": plunged, fell, decline[d], slumped, tumbled, plummeted, sank, slid, sagg[ed], and dropped.

[disneysteve]

I think the author of the AP article wore out his thesaurus looking for synonyms for "went lower": plunged, fell, decline[d], slumped, tumbled, plummeted, sank, slid, sagg[ed], and dropped.

I'd much rather read things like rose, soared, took off, skyrocketed, climbed...

[Scanner]

One of my patients who came in tonight has 98% of his worth in silver. He has it buried in coffee cans in his backyard and he's predicting a depression or a banking-type of crisis.

What's weird is there is a quiet sense of panic on Capitol Hill about this whole thing.

[kv968]

What's weird is there is a quiet sense of panic on Capitol Hill about this whole thing.

There should have been a quiet sense of panic on Capitol Hill about this quite some time ago

[rooskers]

I hate to be the one to say this but the markets collapsing is one of the best things I have heard in a while. I am 29 and not looking to retire for 30+ years and I would hate to have the first 20 years be the top of the market the last 10 be the downward spiral. Much prefer the opposite which the market seems to be gearing up for. I do feel bad for all those people 90%+ in stocks and a year off from retirement.

[sweeps]

Foreign Markets PUNISHED, Round 2

Japan down 5.7%
Australia down 7.1%
India down 5%
Hong Kong down 8.7%
China down 7.2%

[disneysteve]

I hate to be the one to say this but the markets collapsing is one of the best things I have heard in a while. I am 29 and not looking to retire for 30+ years and I would hate to have the first 20 years be the top of the market the last 10 be the downward spiral.

Very true. It all depends on your perspective. Melody Hobson from Ariel Capital Mgmt. was on GMA today saying the best time to make money is when there is blood in the streets. So those buying opportunities for those with long-term perspectives are quickly approaching.

Personally, I'm still about 20 years from retirement, so I welcome the chance to get some good stuff on sale also. The problem is the losses I'm suffering on the stuff I already own.

Melody Hobson also pointed out that there have been 10 recessions since WWII, so they are perfectly normal parts of the economic cycle.

[Scanner]

I"m going to try to purchase some more today in my Janus.