Re: Tomorrow is the day for the DOW
Posted by:
Mr Hang Seng
()
Date: October 22, 2012 12:02AM
Mr Wall Street Wrote:
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> It will drop over 300 points to add further to the
> 205 drop last Friday.
Right now Nikei and Hang Seng are pretty much flat (-0.81% and +0.05% respectively). After-hours US trading is mixed, Dow up .9 points, NASDAQ up 6 points, DOW down 4 points.
Are you hoping for a repeat of Black Monday so you can imagine it gives Obama a black eye? Or do you just like hoping bad news? Keep wishing. Black Monday's anniversay was Friday, and the DJIA loss of 205 points was only a 1.5% loss. Nothing close to the 23% loss in 1987.
I know for the uninitiated who watch certain news channels, it is easy to get scared. They probably only told you that the October 19 1987 loss was 502 points, and the DJIA lost 205 on Friday. That means the DOW lost HALF AS MUCH AS IT DID IN 1987!!! Angry Retired White Men Should Panic! QE3! PANIC!
But the percentages are nowhere near each other. 1.5% loss this past friday, 22.6% loss in 1987.