Stock Market Oct. 10 (Page 4)

Forums

Forum guidelines BT super discount

Updated posts

My threads
No new posts

My favorite threads

Other Resources

My Cup of Joe » Stock Market Oct. 10

Rss Feed

Moderators: k9car363, the bear, DerekL, alicefoeller

of 4

LJR

2008-10-10 3:26 PM

in reply to: #1732501

Expert

892

Subject: RE: Stock Market Oct. 10

Almost felt like one of those high school basketball games where you expected to lose by 50 pts. but hung in there to only lose by 20.

My Race Log

rayd

2008-10-10 3:27 PM

in reply to: #1733903

Pro

4277

Parker, CO

Subject: RE: Stock Market Oct. 10

WaterDog66 - 2008-10-10 2:12 PM And at the closing bell:

Dow: -117.01
NAS: + 4.39
S&P: -10.03

Mixed day of trading.

yep...the last 30-minutes were pretty crazy. Guess the day didn't finish as badly as I thought it would have earlier in the day.

My Race Log

Global

2008-10-10 3:27 PM

in reply to: #1733850

Master

1641

Seattle, California

Subject: RE: Stock Market Oct. 10

PennState - 2008-10-10 12:53 PM

Global - 2008-10-10 3:45 PM

WaterDog66 - 2008-10-10 12:35 PM

rayd - 2008-10-10 12:32 PM

WaterDog66 - 2008-10-10 1:29 PM

WOW!!!

I step away to grab a bite to eat (the Dow was down more than 500 Pts and the S&P down ~40 Pts) and I come back and they are suggesting that the indexes may actually make into positive territory in the last 40 minutes of trading

What a day folks....

looks like they are positive. not getting too excited though...still 30-minutes till close.

All of the indexes are now in positive territory and the dow is up 100 Pts.

Not the TSX ... still down 350 points. Canadian Dollar had the largest drop in history today as well, down 4.5c to 82c American

This will continue... the Canadian dollar is sliding because of the expected reduced US demand for Canadian goods (75% of exported Canadian goods are to USA) and the decline in the price of oil. It's funny that the Cnadain banking system is much more sound than ours, but that is obviously not what drives the dollar.

Ya, our dollar and index is pretty much tied directly to oil and material prices. The Canadian dollar has been overvalued for a while now and I suspect that at around 80 - 85c American is where it should be. No doubt with all the volitility in the markets it will be all over the place for the next few months but I suspect that we will see it end up around where it is right now. That is until the new bull begins and energy demands start to grow. The drop is a positive thing though as our manufacturing sector has taken a beating lately as has our tourism industry. Neither of those are going to be making a huge comeback because they are so closely tied to how the US economy is doing, but if our dollar kept it's strength both of those sectors would be hit much harder then they already will be.

You are right that our financial sector is navigating this well. Our lending standards have been much stricter, our housing markets are set to slide but wont collapse and we haven't had to bail anyone out yet. Credit is getting tighter but nothing like it is down in the US. Our banking system is much more regulated though and I know that when my wife and I got a mortgage 3 years ago we had to provide a lot of back up of our financial well being to secure the loan.

Edited by Global 2008-10-10 3:28 PM

My Race Log

JChristoff

2008-10-10 3:28 PM

in reply to: #1733939

Elite

4504

Columbus, Ohio

Subject: RE: Stock Market Oct. 10

LJR - 2008-10-10 4:26 PM

Almost felt like one of those high school basketball games where you expected to lose by 50 pts. but hung in there to only lose by 20.

And you were up by 10 with 5 to go.