Trouble Ahead?

[GTO1970]

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New intelligence indicates al Qaeda is threatening to attack corporate and financial institutions in New York City,

 

[Rod]

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I was just going to comment on that. CNN simply states that Ridge is raising the alert level to orange. No story yet... just a "breaking news" headline. I'm sure there will be a story posted very shortly.

Thismay notbe good for the market on Monday. These "threats" have been blown waaaay out of proportion in the recent past. We'll just have to see how it goes.

 

[Mike]

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I heard that the orange threat level only applies to certain cities (I heard NYC and Newark NJmentioned)and not the nation as a whole.

One aspect of this to consider is that this time around, the threat is very specific. The past few times that it went orange, it was general.

 

[Rod]

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Mike wrote:

I heard that the orange threat level only applies to certain cities (I heard NYC and Newark NJmentioned)and not the nation as a whole.

One aspect of this to consider is that this time around, the threat is very specific. The past few times that it went orange, it was general.

Yeah, it applies to the NYSE itself!:?

Oh well.

 

[Mike]

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Another fly in the ointment: I read that the financial district of NYC has basically been "at orange" since the 9/11 attack. So in that particular case, this is nothing new from a security standpoint.

 

[Rod]

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Mike wrote:

Another fly in the ointment: I read that the financial district of NYC has basically been "at orange" since the 9/11 attack. So in that particular case, this is nothing new from a security standpoint.

I agree,but it's still going to have a negativeaffect onthe Opening Bell.

 

[Pete1]

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Fear and greed are powerful short-term market forces which are mitigated by time. Staying the course is as appropos now as ever before. If anyone sells in reaction to an orange alert (fear), they need to examine their risk tolerance. If you are reading this and are afraid about your account balance today, watchhowthe diversified account fares onTom's return page.

 

[Rod]

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Yeah, as of now, the market isn't being affected just too badly.

 

[Rod]

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NICE AND GREEN!

 

[Rolo]

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Yeah, there was an intraday sag, but it looks like the news was shrugged off to me.

 

[Mike]

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C fund up a nickel and S up a couple pennies. Not bad, considering...

Edit: here's a new article on the terror warning.

http://news.yahoo.com/news?tmpl=story&cid=1802&u=/washpost/20040803/ts_washpost/a35466_2004aug2&printer=1

Looks like most of the information came from pre-9/11. However, due to the specific targets mentioned, they decided to raise the alert anyway.

 

[Guest]

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Hopefully investers will see this report and start investing again today. :^

 

[Rod]

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mlk_man wrote:

Hopefully investers will see this report and start investing again today. :^

Well, today's slow start is because of record high oil prices. OPEC says there is no relief in sight anytime soon.

 

[Mike]

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I just read an article stating that US auto sales bounced back up in July after a dismal June.

It looks like everything is falling into place, except the oil price.

 

[Rod]

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Today is a really crappy day.:X

But, I'm "staying the course".

 

[puertorico]

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Yes very bad day today 100% S FUND

I will stay put :s S :s.Hope I gain back tomorrow,today's losses:?

 

[Rod]

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Mike wrote:

I just read an article stating that US auto sales bounced back up in July after a dismal June.

It looks like everything is falling into place, except the oil price.

And it's that oil price which is keeping our heads below the water. Stocks just can't come up for air as long as this is happening. OPEC needs to start pumping, and pumping SOON!

 

[nnuut]

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Think they may be on the way UP, after this:

:^SAN FRANCISCO -- Crude futures fell under $44 a barrel and gasoline prices dropped as much as 4 percent to their lowest level in seven sessions, after two U.S. reports revealed an unexpected climb in gasoline inventories, along with only modest changes in crude stocks.

 

[nnuut]

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Well! She's on the rise, but the S Fund is laggen' behind. Guess it will catch up before the end of the day?:l

 

[Rod]

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Wow, this is just excellent!:^ It just goes to show that you NEVER know what's going to happen within a single day of trading. I was thinking that I was going to take another big hit today.

I'm glad I stuck to my guns and stayed invested.