Tuesday Prognosis: not good

[deejayoh]

If you haven't taken a gander at what is happening in Asia, Europe, and the futures markets - you might want to have a look see.

Tomorrow's market activity is shaping up to be dismal

Futures
INDEX VALUE CHANGE OPEN HIGH LOW TIME
DJIA INDEX 11,592.00 -514.00 12,130.00 12,140.00 11,569.00 11:29
S&P 500 1,265.10 -60.20 1,327.50 1,331.60 1,256.00 11:29
NASDAQ 100 1,773.50 -76.00 1,850.75 1,857.75 1,755.25 11:29

Europe
INDEX VALUE CHANGE %CHANGE TIME
DJ EURO STOXX 50 € Pr 3,703.05 -292.12 -7.31% 13:00
FTSE 100 INDEX 5,578.20 -323.50 -5.48% 11:35
CAC 40 INDEX 4,744.45 -347.95 -6.83% 12:10
DAX INDEX 6,790.19 -523.98 -7.16% 13:51

Asia
INDEX VALUE CHANGE %CHANGE TIME
NIKKEI 225 13,325.94 -535.35 -3.86% 02:00
HANG SENG INDEX 23,818.86 -1,383.01 -5.49% 03:01
S&P/ASX 200 INDEX 5,580.40 -166.90 -2.90% 01/21

[Pndscm]

As someone around here once said: "beat the rush, panic now!"

[SunTzu]

Guess that downgrade of mbac finally got those foreign buyers of toxic waste to realize that they are holding crap. The markets in general will enter a self-reinforcing downward spiral where today's sell-off will create a US sell-off tomorrow and a US sell-off tomorrow will creat another wave of sell-offs the next day......

The leadership and trustworthiness of US financial institutions will face serious crisis of confidence from all foreigners, this could be a problem down the road for our sources of deficit funding......

[perfectfire]

I'm almost feeling sick about this. I cashed out of all of my options on Friday in anticipation of a rate cut bounce this week, but now it looks like I may have missed out on the big crash event that we've all been expecting for the last several months. ARGGGHHHH

So now I'm hoping somebody will start a suprise rate cut rumor, or a Warren Buffet buying the entire U.S. rumor or something to prop the market up until I can get back in.

[deejayoh]

[david_mcmanus]

[Lake Hills Renter]

[AwaySooner]

[sid]

WOW... it was 21K last week
Trading halted......



China also hurting

[AwaySooner]

Gotto tell you guys, doesn't look good.

[downpayment]

I think DOW will definitely break 12,000 tomorrow - remember it never really did test that level after crossing it in 2006.

Question is, how low will it go, 11,000? I'm looking at buying, but can't quite tell where bottom will be. I personally think markets are getting somewhat oversold.

[geon]

I'm also in the " feeling sick" pack. Held QIDs most of last year waiting for an event like this, but sold out at the end of November, looking to get back in big again on a rally.

Took a one week profit on a smaller lot the first week of the year, but it will pale compared to what I could have been making. Hope BB creates a bounce. Sold half of retirement fund March of last year--was going to do more but didn't want to scare wife.

Well, at least I've got cash sitting on the sidelines.

[carlislematthew]

"I personally think markets are getting somewhat oversold."

I agree, although they'll likely get as oversold on the way down as they got overbought on the way up! Irrational fears can work on both sides.

When I turn on CNBC and see that neo-con idiot Kudlow telling me to "absolutely stay out of the market - it's rotten", that is the moment when I will fully go back in to stocks (balanced portfolio, blah blah blah).

[carlislematthew]

"My 401k is in MM and that still worries me, but not much choice there and I don't want to quit my job."

Are there no stable income funds (treasuries, etc) in your 401K? Those should be relatively fine even in times such as these. Unless you're the kind of person that wants to hoard gold in a safe (along with your guns and ammo).

[TJ_98370]