Bailout bill fails; Dow plunges

Brunotheboxer · 09-29-2008, 03:24 PM

I think the sky is falling.

nightkhan · 09-29-2008, 03:25 PM

i am LOVING my puts right now!

Voltigeur · 09-29-2008, 03:26 PM

Quote:

Originally Posted by MJC///M3

well i dont have real time bloomberg...so its still updating after market close at 4pm...right now...down 780 boys....this is unreal....biggest drop in history....

crude oil fell 10 dollars today!! Dollar up almost a full basis pt on the Euro...so some good news there.

Global recession = lower oil. I don't like to look at Dow points (& the Dow's a crap index anyway), better to look at S&P and consider % terms.

Really ugly: no lipstick on this pig

3m t-bills paying 30 bps; short term A1 P1 paper over 6% - yikes. Spreads (LIBOR/OIS, Swaps and TED) have all blown out bigtime.

I bet I'm not alone in reconsidering my purchase intentions, may be best to keep some $$ back for the market in '09.

VIX went over 50 intraday - some signs of capitulation here.

phatr1s · 09-29-2008, 03:45 PM

Quote:

Originally Posted by Haute Z

You wanna stop it? Go spend some money-get drunk so the bar can buy more beer which in turn makes beer companies money which in turn pays employees then go f*ck a hooker in a hotel room so the hotel makes money too then the hooker can go spend the money on drugs because thats why shes turning tricks to begin with... then the drug dealer can go buy some stupid ass chrome rims to put on a POS chrysler 300 which in turn makes the car manufacturers money and so on and so forth....

1+ The Government should distribute the 700 billion between all tax payers, that will pump the economy, wait that means I can pay for two hookers..

MJC///M3 · 09-29-2008, 03:47 PM

Quote:

Originally Posted by phatr1s

1+ The Government should distribute the 700 billion between all tax payers, that will pump the economy, wait that means I can pay for two hookers..

LOL...talk about stimulating the economy!

bolinp78 · 09-29-2008, 03:59 PM

Quote:

Originally Posted by Stronie's BMW

Let it ride.....Buy buy buy !!!!

Yes, everyone please go buy AAPL

bolinp78 · 09-29-2008, 04:02 PM

Everyone covered.. bastards.

Haute Z · 09-29-2008, 04:03 PM

Quote:

Originally Posted by MJC///M3

LOL...talk about stimulating the economy!

Yeah itll stimulate something

darkphantom · 09-29-2008, 04:04 PM

help o.o

good thing I got out of the market, best thing we can do as consumers right now is spend, but like everyone has said, panic != spending, and that just makes matters worse.

*sigh* consumption rates just keep on falling...

Haute Z · 09-29-2008, 04:10 PM

dont worry, its not gonna stop me from shopping!!!

Voltigeur · 09-29-2008, 04:19 PM

Quote:

Originally Posted by darkphantom

help o.o

good thing I got out of the market, best thing we can do as consumers right now is spend, but like everyone has said, panic != spending, and that just makes matters worse.

*sigh* consumption rates just keep on falling...

Savings are going to rise. Housing ATM = gone. HELOCs and credit lines getting constrained. Risk aversion increasing. Savings' rate still only about 2% ... it was 7-8% last time we had a real consumer retrenchment in 90-91.

The US consumer has to stop being the hedonist-of-last-resort.

cgnahc · 09-29-2008, 04:28 PM

8-9 percent drop Naz and S&P. Good action, big volume. More tomorrow. Weak close.

aut0sh0cker · 09-29-2008, 04:30 PM

Quote:

Originally Posted by nightkhan

i am LOVING my puts right now!

FINALLY another options trader!! woohoo!!

I thought I was the only one...

vladinecko · 09-29-2008, 04:30 PM

it's the end of the world as we know it

phatr1s · 09-29-2008, 04:35 PM

Quote:

Originally Posted by vladinecko

it's the end of the world as we know it

Wait, that's until 2012...

cgnahc · 09-29-2008, 04:47 PM

.:bHd:. · 09-29-2008, 04:55 PM

Quote:

Originally Posted by aut0sh0cker

FINALLY another options trader!! woohoo!!

I thought I was the only one...

You guys would have been fucked if the bill passed though haha

aut0sh0cker · 09-29-2008, 05:35 PM

Quote:

Originally Posted by .:bHd:.

You guys would have been fucked if the bill passed though haha

We're fucked anyways...

MadDog · 09-29-2008, 05:39 PM

Quote:

Originally Posted by phatr1s

Wait, that's until 2012...

The end of time is January 19, 2038 03:14:07 GMT, which is when UNIX time rolls over.

toofasttooslow · 09-29-2008, 05:51 PM

Quote:

Originally Posted by Voltigeur

Savings are going to rise. Housing ATM = gone. HELOCs and credit lines getting constrained. Risk aversion increasing. Savings' rate still only about 2% ... it was 7-8% last time we had a real consumer retrenchment in 90-91.

This is exactly what is needed. Interest rates will surely follow. As a society we are *all* over extended and debt leveraged. Growth will be stagnant for awhile but it's better than the alternative which is defaulting as a nation.

nightkhan · 09-29-2008, 07:16 PM

Quote:

Originally Posted by .:bHd:.

You guys would have been fucked if the bill passed though haha

haha, yeah, i know. but i was watching the vote with the minutes counting down, and the rate at the "yea's" were going, it didn't look like there was a chance.

jaiman · 09-30-2008, 08:38 AM

Quote:

Originally Posted by Haute Z

Youre soooooooo right. Not like im in private equity or anything.

It was a fn joke. Get over it.

Ah, PE. That explains why you're so pissy. I'm sure you'll get a bonus next year.

09-29-2008, 03:24 PM	#23
Brunotheboxer Colonel 371 Rep 2,984 Posts Drives: 2014 Shelby GT500. Join Date: Jan 2006 Location: Boston/Cape Cod iTrader: (0)	I think the sky is falling. __________________ "...I maybe drunk, but you're ugly, and I can sober up..."
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09-29-2008, 03:25 PM	#24
nightkhan Private Woodman 163 Rep 467 Posts Drives: 328i, JB, Space Rocket Join Date: Jan 2006 Location: San Francisco iTrader: (3)	i am LOVING my puts right now! __________________ Former King of Stock... E90 325i, Jet Black: Done with Current: E92 328i, Sports Package, 335i wheels, Power Seats, BMW Assist/Bluetooth, IPod/USB, heated seats, //M Short Shifter Future Mods: 19" CSL's, KW V2, 15mm spacer, tints
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09-29-2008, 04:02 PM	#29
bolinp78 G35 convertee 69 Rep 1,009 Posts Drives: 2008 335i (AW) Join Date: May 2008 Location: . iTrader: (1)	Everyone covered.. bastards. __________________
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09-29-2008, 04:04 PM	#31
darkphantom Banned 595 Rep 5,946 Posts Drives: E93 335i Join Date: Aug 2007 Location: The place for Bimmers iTrader: (4)	help o.o good thing I got out of the market, best thing we can do as consumers right now is spend, but like everyone has said, panic != spending, and that just makes matters worse. sigh consumption rates just keep on falling...
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09-29-2008, 04:10 PM	#32
Haute Z .... 2 Rep 44 Posts Drives: Zed Coupe Join Date: Sep 2008 Location: NYC iTrader: (0)	dont worry, its not gonna stop me from shopping!!!
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09-29-2008, 04:28 PM	#34
cgnahc Major 84 Rep 1,263 Posts Drives: TiAg E90 ZSP Join Date: Dec 2006 Location: Westlake Village, CA iTrader: (9)	8-9 percent drop Naz and S&P. Good action, big volume. More tomorrow. Weak close. __________________ Need someone to install angle eye bulbs December 2018
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09-29-2008, 04:30 PM	#36
vladinecko Brigadier General 277 Rep 3,924 Posts Drives: '11 E92 M3 Join Date: Jun 2005 Location: Bay Area, CA iTrader: (1) Garage List 2011 BMW M3 [9.00] 2008 BMW 335i [0.00] 2006 BMW 330i [0.00] 1994 BMW 325i [0.00]	it's the end of the world as we know it __________________ 2011 E92 M3 - IB/Beige/Sycamore Wood/6MT/EDC/ZPP2/Nav/PDC/Heated Seats/iPod-USB/Enh. Audio 2008 E92 335i - Montego Blue/Black/Gray Poplar/6MT/ZPP/ZSP/Nav/PDC/Heated Seats/HDRadio/iPod-USB - *Sold* 2006 E90 330i - Mystic Blue/Black/Aluminum/6MT/ZPP/iDrive/PDC/Heated Seats/Sat. Prep - *Sold* 1994 E36 325i - Boston Green/Beige/Automatic/ZPP/Heated Seats/Premium Sound - *Sold*
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09-29-2008, 04:47 PM	#38
cgnahc Major 84 Rep 1,263 Posts Drives: TiAg E90 ZSP Join Date: Dec 2006 Location: Westlake Village, CA iTrader: (9)	__________________ Need someone to install angle eye bulbs December 2018
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