On CNN.com right now...

[SteveR]

Top two stories are;

"Oil falls below $96.."

and

"Gas prices surge..."


wtf

[WildBillyT]

Followed by "We really don't know what the F we are talking about."

[BonzoHansen]

load of crap. watch the financials....

[CHRIS67]

I saw that. :soapbox: What a load of crap. I also saw some gas stations in the trail of Ike that bumped their prices up to $5.02 a gallon. That is a lot of bling for someone who may have lost their house. :bs:

Deep cleansing breaths. I'll be OK.

[LS1Hawk]

It's called price gouging due to the hurricane.

[Jam]

11 oil refineries were damaged

[HardcoreZ28]

Yeah unfortunately it's not price gouging. When production numbers drop off due to hurricanes it screws up all the demand, transportation, etc.

If you want really see something scary look at the stories about Lehman and Merril today!

[Blackbirdws6]

Yeah unfortunately it's not price gouging. When production numbers drop off due to hurricanes it screws up all the demand, transportation, etc.

If you want really see something scary look at the stories about Lehman and Merril today!

Yea I read those this morning. Crazy stuff. Get ready to hold onto the "Oh S$%&" bars.

[LS1Hawk]

If you want really see something scary look at the stories about Lehman and Merril today!

Yeah, I'm more concerned about that.

[BonzoHansen]

LB is toast. ML is now a subsidiary of BoA. ML escaped a snowball rolling downhill list of issues by taking the BoA offer and running.

[BigAls87Z28]

Damage done to the refineries and rigs were far less then planned.
If these things cant take a Cat 3 hurricane, then they shouldnt drill/refine in the Gulf.
Sorry. If Exxon comes up with another record breaking profit for Q3...expect American's to want blood.

[SteveR]

LB is gone, AIG is down 50%, BoA is down 20%, and WaMu is down nearly 75%. Say goodbye to the American banking institution.

[Tsar]

lots of red...

http://finviz.com/publish/091508/sp500_large1011.png

[BonzoHansen]

Not good bye, but a new landscape for sure.

Still 2+ hrs, but down 275 - 2.58% so far - much less than I expected.

[SteveR]

a new landscape for sure.

http://matchcuts.files.wordpress.com/2008/07/hdrp_0602_best_car_movies_12_zroad_warrior.jpg

[LTb1ow]

Mad Max FTW! Woohoo!

[redbanditZ28]

We don't need another hero. lol.

[sweetbmxrider]

:rofl: always steve! on the freakin ball!! hahaha

[BigAls87Z28]

Thats really not a lot. The market seems to drop 200 whenever something happens. People panic and say "WE HAVENT BOTTOMED OUT YET, WE ARE GUNNA GO BACK TOT HE STONE AGE!!"
And then next week market will be up 200 pts and they will come out "We have seen the bottom and the market is good, I belive its smooth sailing from here."

And then it goes down 200 pts the next week....

[BonzoHansen]

Drop was 4.42% today, not as bad as I thought (I expected 10%). But the week is young. Figure 10%-15% down by end of week.

[shane27]

Clinton News Network.

[Saitin]

http://www.abcnews.go.com/Business/story?id=5807818&page=1

[Tsar]

Drop was 4.42% today, not as bad as I thought (I expected 10%). But the week is young. Figure 10%-15% down by end of week.

Um...some smart people will be making good money after that, I wish I was one of them.

[BonzoHansen]

There is always $$ to be made somewhere.

[PolarBear]

Deep cleansing breaths. I'll be OK.

SERENITY NOW!!

[BigAls87Z28]

450ish down today...ohhh yeah baby!

Gold is up, but still some 200 bucks off its peak.
Oil up 5 bucks to still under 100 a gallon..yet gas is still in the mid 3's.
85billion to AIG did nothing
China is talking about developing a World economy where the US is not the main player.

[SteveR]

450ish down today...ohhh yeah baby!

Gold is up, but still some 200 bucks off its peak.
Oil up 5 bucks to still under 100 a gallon..yet gas is still in the mid 3's.
85billion to AIG did nothing
China is talking about developing a World economy where the US is not the main player.

China doesn't have the negotiating power to do that. China may have a growing economy, but they are nowhere near a global leader. Four years ago I attended a seminar on China and their economic and military issues and current concerns, and at that time their economy was growing, but didn't have the stability or infrastructure to support a competitive global market. China at that time was looking at buying into the EU, but all studies showed that it would actually weaken the country rather than help it grow because it couldn't diversify or compete with European standards, so they put that plan on hold, so I don't see China taking over anytime soon in terms of global competition.