Dow Jones at 7552.29 (down 5.56% today) | Hacker News Reader

Dow Jones at 7552.29 (down 5.56% today)

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9 pointshelveticaman22 comments

Yes, and it was under 10,000 points in your previous submission.[1] It was a "disaster" when it was at 8582 when someone else posted 42 days ago.[2] Also, it was down "400 points in 10 minutes" 52 days ago.[3]

I don't need you to be my stock ticker.

[1] http://news.ycombinator.com/item?id=325009

[2] http://news.ycombinator.com/item?id=328204

[3] http://news.ycombinator.com/item?id=318627

I think it's relevant. It's a landmark in that it is at a 52-week low, and dropped significantly below the psychological 8,000 boundary. I personally find it interesting, and I think some, though perhaps not all, hackers would agree. Plus, I think a lot of people who don't track the market would occasionally want to know when something unusual (like a 5.5% drop) happens in the US economy. There are people who already knew, but that's true for most submissions.

Is 7552.29 an interesting and unusual constant or something?

it is, pretty much all gains in the stock market over the past 10 years have been wiped out. The only time in the last 10 years when the stock market was lower, was in October 02, when it was at 7528.40.

My friend tells me the 7500 mark is significant because it is a pretty strong technical support that was created in 2002/2003 and is currently being tested.

No, it's just a really low value compared to where the Dow was a year ago. It's also around what Roubini predicted.

It passed the last such constant (under 9000) in October.

In the words of Warren Buffett, "be fearful when others are greedy, and be greedy when others are fearful." [1]

I'd have to agree with him, now is probably one of the best times to invest IF you know what to look for.

[1] http://www.nytimes.com/2008/10/17/opinion/17buffett.html?_r=...

Paging SwellJoe and others to this thread... http://news.ycombinator.com/item?id=327518

Decide to take the hit on that Google stock yet?

Sucks for the DOW though, my portfolio is up 192% on a few Chinese investments over the past month. It was a bit of good timing though - one posted some amazing Q3 numbers which pushed it up 45% this past week.

Of course that's all on paper, but I pretty much shifted a lot of my portfolio out of US stocks (for the time being) into conservative securities but brought in some higher risk / more aggresive foreign investments. There's a time to sit and wait out the cycle, and there's a time when it's pretty obvious that the market is falling.

Right now it's pretty obvious and while I don't know where the market bottom is, there's no point in continuing to lose out on stocks when they can easily be repurchased at heavy discounts in the future.

www.newmogul.com

I am not going to check my brokerage account today. Nothing good can come out of that.

Yes. I second that.

Denial?

Restraint.

Looks like the $2 trillion bailout was well spent.

the only stock I have that actually went up today is Sirius. Of course its not as impressive as it sounds, since it lost about 99.96% of its value since I bought it. Went down from $4/share to .15/share.

My advisor (http://pariveda.com) put Grizzly Short - GRZZX - into my account a couple of months ago. That one went up > 5% today, and over 100% since we bought it.

I hate to be the bearer of bad news, but SIRI ended down almost 14% percent today; it closed at 0.14 (down from a shade over .16 at close yesterday).

yeah the feed just updated. I use that google gadgets sidebar, and have the stock tracker installed, but the thing only updates every 20 minutes

Well at least I'm young and I know about dollar cost averaging

Thank you CNN.

weeeeeeeeeeeeeeeeeeeeeeee!

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