Black Monday

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11:43 p.m. EST 11/04/07Futures/Extended Trading(Roll over for charts)
Last Chg Settle
DJ Industrials 13576 -66 13642
S&P 500 1511.30 -6.30 1517.60


Not that impressed. C group news was expected. Don't know how much more to milk off that to the downside.

An interest rate hike out of Japan would have been sweet.

We'll see what Europe does soon.
 
Quote from pumpanddumper:



Not that impressed. C group news was expected. Don't know how much more to milk off that to the downside.
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Finally someone agree with me regarding the lack of importance of the citi news. Agree in that the downside regarding that story is limited.
 
i do believe a lot of people are going to have a blow out xmas then move on (walk away) from their homes....it goes like this: "honey, we can either pay our mtg and try and make it work or have a great xmas/vacation and then walk away" --they already have bad credit and no assets!!! you can probably stay in your house for 3-4 months before being physically evicted---defualt does not occur until you are 2-3 months behind and then it is probably another 2-3 months before eviction---this would really be something to find out--how long could a homeowner stay in a house before being removed????

Thats when you see the real bears. The only question is will it be like the 70's when it took 2 years to erase 40%, or, like 1987 when that bear erased 34% in 8 days.

It is coming - the only thing we do not how is - is it a long ugly or a short one?
 
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