Wall Street thread

[DanOregon]

Figured we might as well have a thread about the markets. Asian markets are taking a dive this morning despite the bailout last week. Buckle your seatbelts, Mondays and Octobers always get me down.

 

[John]

My dad has been with Merrill Lynch for 42 years and when I talked to him last night I asked him if there was any reason to think this week would be better.

His answer: No.

 

[Football_Bat]

Look out below! Dow already down 200+ points in the first 3 minutes.

 

[John]

Get back in there and sell, sell, sell.

 

[prezclinton]

Sub 10000 here it comes.

 

[Pete Incaviglia]

A CNN analyst just said "we're officially in a recession," and he cited someone other big shot, too, who said the same thing.

How's that bailout working by the way?

 

[Football_Bat]

Sub 10000 here it comes.

Down 530 points now. Already there with room to spare.

 

[2muchcoffeeman]

One piece of good news: futures in crude oil, unleaded gasoline and home heating oil have also dropped (oil is below $90 for the first time since February).

 

[Pete Incaviglia]

One piece of good news: futures in crude oil, unleaded gasoline and home heating oil have also dropped (oil is below $90 for the first time since February).

And speculators have nothing to do with the cost of oil/gas. Right.

 

[Bob Cook]

One piece of good news: futures in crude oil, unleaded gasoline and home heating oil have also dropped (oil is below $90 for the first time since February).

Good news in the sense that the dive has to do with the expected decline in economic activity. There's nothing looming poverty to make you conscious of conservation.

 

[slappy4428]

One piece of good news: futures in crude oil, unleaded gasoline and home heating oil have also dropped (oil is below $90 for the first time since February).

You'd never know it by the gas stations... at least in my state

 

[Pete Incaviglia]

One piece of good news: futures in crude oil, unleaded gasoline and home heating oil have also dropped (oil is below $90 for the first time since February).

You'd never know it by the gas stations... at least in my state

Same here. Makes me wonder why the price of gas rises in lockstep with the rise in cost of crude oil but doesn't fall in the same manner.

 

[GB-Hack]

One piece of good news: futures in crude oil, unleaded gasoline and home heating oil have also dropped (oil is below $90 for the first time since February).

I was listening to NPR recently, and they said one of the reasons for the recent uptick was that it was the end of the buying month, and everyone was making sure they had enough for October, causing a rise in price.

They predicted that this would happen once the buying period was over.

 

[prezclinton]

One piece of good news: futures in crude oil, unleaded gasoline and home heating oil have also dropped (oil is below $90 for the first time since February).

You'd never know it by the gas stations... at least in my state

Same here. Makes me wonder why the price of gas rises in lockstep with the rise in cost of crude oil but doesn't fall in the same manner.

It's because a bunch of greedy pig ****ers set the prices.

 

[trifectarich]

One piece of good news: futures in crude oil, unleaded gasoline and home heating oil have also dropped (oil is below $90 for the first time since February).

You'd never know it by the gas stations... at least in my state

Reporter doing a local gas story for an Orlando station this morning says, without quoting anyone, that gas will be under $3 a gallon this fall.

 

[2muchcoffeeman]

One piece of good news: futures in crude oil, unleaded gasoline and home heating oil have also dropped (oil is below $90 for the first time since February).

You'd never know it by the gas stations... at least in my state

Same here. Makes me wonder why the price of gas rises in lockstep with the rise in cost of crude oil but doesn't fall in the same manner.

Pete, slappy's state has a gas shortage (there's a thread somewhere). Lower supply means higher prices.

Gas prices here are starting to drop like a rock. Prices drop faster at stations with smaller underground tanks.

Rich: AAA is predicting that.

 

[mustangj17]

I don't know how Bama has a gas shortage, I'm further north and our gas is down 80 cents in the past 2 weeks.

 

[Pete Incaviglia]

One piece of good news: futures in crude oil, unleaded gasoline and home heating oil have also dropped (oil is below $90 for the first time since February).

You'd never know it by the gas stations... at least in my state

Same here. Makes me wonder why the price of gas rises in lockstep with the rise in cost of crude oil but doesn't fall in the same manner.

Pete, slappy's state has a gas shortage (there's a thread somewhere). Lower supply means higher prices.

Gas prices here are starting to drop like a rock. Prices drop faster at stations with smaller underground tanks.

Rich: AAA is predicting that.

Ah, I didn't know Slappy's whereabouts. Although, I thought I did, but I guess I was wrong.

 

[prezclinton]

One piece of good news: futures in crude oil, unleaded gasoline and home heating oil have also dropped (oil is below $90 for the first time since February).

You'd never know it by the gas stations... at least in my state

Reporter doing a local gas story for an Orlando station this morning says, without quoting anyone, that gas will be under $3 a gallon this fall.

You telling me a TV reporter didn't quote anyone? I don't believe that.

 

[2muchcoffeeman]

I don't know how Bama has a gas shortage, I'm further north and our gas is down 80 cents in the past 2 weeks.

They get their gas from the Gulf Coast refineries.