What Is The Over/Under On Bridge Jumpers Tomorrow?

[whitey]

January 21, 2008
A 1,000 Point Drop On The Dow? (C)(BAC)(AXP)(AAPL)
Tuesday could bring a 1,000 point drop on the Dow, especially if markets in Asia and Europe repeat their Monday performances tomorrow. China's big Hang Seng index fell 5.5% to 23,818. The percentage drop in Shanghai was a bit less.

Europe markets have also been off over 5% most of the day with the German DAXX and French CAC 40 leading the way. Huge multinational Siemens (SI) has fallen as much as 7.3%. French financial services giant AXA (AXA) has been off almost 8%.

A 6% drop on the Dow tomorrow would be almost 750 points. If concerns over a US recession and the lack of real solutions in the Bush economic stimulation plan rattle the markets more Dow components like Citigroup (C), JP Morgan (JPM), and American Express (AXP) could be hit especially hard.

Bank of America (BAC) and Apple (AAPL) report tomorrow. If the market thinks those companies might report below consensus the shares could be pushed down early.

For the Dow to drop 1,000 points it would have to sell of 8%. On October 19, 1987 the index sold off over 22% and it lost 7% of its value in one trading day on both September 21, 2001 and April 14, 2000.

With the deep concerns with the market, it could happen again.

[Bonehead]

This is the most important topic that has been talked about in a long time. Make no mistake about it. How the market performs will directly impact all professional charter captains and mates. The boat industry and related businesses will be the first to feel the string of a bear market.

OTOH, if you have availble capital, this is when fortunes can be made. This sell off has been going on for a while and those in the know have been accumulating cash. There will be bargins on many stocks in the future, but you have to have the cash.

[JOE_DIRT]

Boy am I glad I keep my money in the mattress.

[whitey]

They just said on CNBC that if the market was open today it would be down over 1350 points at the moment.

[shoefish]

They just said on CNBC that if the market was open today it would be down over 1350 points at the moment.

I hate it when people speculate like this- all this is going to do is make people freak out even more.

I tell you what though, if it does drop 1300 points, I'm taking the over.

[gradywhite273]

its going to hurt either way, with the price of gas/diesel and everything else, it may be a summer of bluefishin.

[neilinov]

OTOH, if you have availble capital, this is when fortunes can be made. This sell off has been going on for a while and those in the know have been accumulating cash. There will be bargins on many stocks in the future, but you have to have the cash.

Whe the ball drops get ready for it. There is a lot of things out there that are going to be bargains. I am glad there are a bunch of doomsdayers out there. It creates a huge buying opportunity. Check out the prices of some of the stocks on Sept 21 2001 and what they were one year later. You can then see what a $50,000.00 investment can do in a paniced market. You just have to do a little homework to see which ones are going to be super undervalued.

Same thing has happened in the real estate market. This last 2 years has created an incredible buying opportunity. With the news constantly pounding on the housing market people have been gone crazy just trying to get out. A bail out today becomes tomorrows fortune.

I know which side of the fence I will be on tomorrow. Let the slashing begin!

[GALAZIO]

CNN???

ahh, the Communist News Network. Nothing would make them "lefties" happier than a market plunge. Since they can't talk about the successes in the Middle East, it leaves them another box to climb on.

How's that 100 hour deal workin out?... All I know is they have more "vogue" meals in the dining hall and minimum wage has been raised.


If anyone is wondering how the Warren Buffet's of the world make their money, it is when the markets are down...way down. In the times of good, they are sitting back earning dollars and selling off slowly (not to impact markets / stocks), then they take those assets and buy big time when the market has a correction, or takes a bigger dip.

People will always want to fish. As an industry, this should HELP the charter captain as the masses will find it harder and harder to justify a boat and the fuel to run it a couple times a month when it's nice. Fuel prices have a bigger impact on the masses and their involvement in boat ownership than the market... just my opinion. The large yacht builders will continue to be booked with commissioned boats, after all, the demographic of their buyer's worth is in the 8 digits and correction in the market every now and then is expected. The builder that gets hammered is the one who thinks $519,000 is "fair market value" for a production boat in the 30 foot class (cough...Grady...cough...White). Their buyer is the one who says, "screw it, I'll just charter a nice boat a few times this year and continue to use the older boat a little longer".

[heavy389]

I here ya

Boy am I glad I keep my money in the mattress.

[iguana1]

The real travesty here is that a lot of people got really rich tee-ing this mess up, and I doubt they are going to be crying a lot of tears if (when) the average Joe takes it in the shorts...

I hear a lot of people bemoaning the fact that America doesn't manufacture anything anymore. I think it sadder still that we have created a class of supposedly admirable, successful people who don't produce a product or a service worth a damn, but we still laud them for being clever enough to line their own pockets.