U.S. Stocks Tumble, Sending Dow to Worst June Since Great Depression

[w¡n9Nµ7 §£@¥€r 123]

U.S. stocks tumbled, sending the Dow Jones Industrial Average to its worst June since the Great Depression, as record oil prices, credit-market writedowns and a slowing economy threatened to extend a yearlong profit slump.

General Motors Corp., the largest U.S. automaker, plunged the most in three years as Goldman Sachs Group Inc. advised selling the stock and crude rose by $5 a barrel. Citigroup Inc. led the KBW Bank Index to an almost 10-year low as Goldman said the lender may report an $8.9 billion second-quarter charge and cut its dividend. Research In Motion Ltd., maker of the BlackBerry, posted its biggest drop since 2001 on concern competition with Apple Inc.'s iPhone is reducing earnings.

The Standard & Poor's 500 Index plunged 38.82, or 2.9 percent, to 1,283.15, its biggest drop in three weeks. The Dow decreased 358.41, or 3 percent, to 11,453.42, its lowest since September 2006. The Nasdaq Composite Index sank 79.89, or 3.3 percent, to 2,321.37, its worst loss since January. Almost nine stocks fell for each that rose on the New York Stock Exchange.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

[kaydee457 13]

This is only the beginning! Expect more if the dem's take the WH in November...

[w¡n9Nµ7 §£@¥€r 123]

This is only the beginning! Expect more if the dem's take the WH in November...

Are the dems in the WH right now?

[aidan80 9]

This is only the beginning! Expect more if the dem's take the WH in November...

What?.. Correct me if I'm wrong but didn't the village idiot bring all this about? Same village idiot thats still in office that's run your economy into the ground like every "successful" business he's ever run? .. VJ Troll couldn't have said it better with that image!

[ready4ONE 5,400]

This is only the beginning! Expect more if the dem's take the WH in November...

Are the dems in the WH right now?

Clearly from a good Republican standpoint, this is all pretty much Barack Obama's fault and will only get worse if and when he gets elected. Brilliant strategy, perhaps it will help them come November.

[mawilson 2,133]

Yep - it was a brutal day for stocks.

On the bright side, I had a 6.29% return today on SRS (Ultra-Short Real Estate)

and SKF (Ultra-Short Financials) alone.

I think the Dow and S&P500 are going to sink even lower... investors are selling

out of equity funds big time - especially U.S.-based equity funds (although

diversified-shmiversified, they are ALL fukced.) You might consider buying

DXD (Ultra-Short Dow), QID (Ultra-Short QQQ) or SDS (Ultra-Short S&P500)

in the coming days - all three are very very nice ETFs. If you want to profit

from China's stock market crash, consider buying FXP (UltraShort Xinhua China 25).

Last week I finally decided to bite the bullet and move all the equity-based

funds in my IRAs and 401(k)s to safe money-market funds until further notice.

It was a nice rally (March-June), but unfortunately it now seems to be over.

[MrsCat 6]

Mawilson - wanna be my financial advisor. I can't afford to pay you much, but you'd have my eternal gratitude?

Me no like #s or math. Too confusing.

[mawilson 2,133]

Mawilson - wanna be my financial advisor. I can't afford to pay you much, but you'd have my eternal gratitude?

Me no like #s or math. Too confusing.

Well, I'm not always right.

The key is to know when you're wrong, take a loss and sell. The worst thing a trader

can do is "believe" that he or she is right and keep adding to a losing position.

No-one (and I mean no-one!) knows 100% where the market will go next. You can

only take an educated guess, pick a direction and go with it.... if you're right, you can

add more to your position; if not, SELL! Don't be too greedy - once you've reached

your goal, SELL! My personal goal is 0.5% to 1% a day. Some days you will get

lucky (like today), other days you will lose. The important thing is to maintain your

goal average in the long run. Don't be afraid to lose if you want to win - the best way

to improve is to learn from your mistakes!

[palilover 1]

ooo....I don't know the advanced stuff. I only know what's coming up cannot be good.

ANd VJ Trool nice pic;)

I cannot decide when/if this "bad thing" is giong to happen...will it be before Bush leaves office so Obama can clean up the mess or will it be right after Obama takes office so people will start to blame Obama then. Perhaps it will be similiar to when Bush first took office, 9/11 happened. He was losing popularity until then and when 9/11 happened, his popularity boosted. It all goes to show you the true cycle of politics.

[mawilson 2,133]

This is only the beginning! Expect more if the dem's take the WH in November...

What?.. Correct me if I'm wrong but didn't the village idiot bring all this about? Same village idiot thats still in office that's run your economy into the ground like every "successful" business he's ever run? .. VJ Troll couldn't have said it better with that image!

I don't think you can blame the "village idiot" for the subprime mortgage crisis and oil speculation / increased demand.