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http://www.cleanmpg.com/photos/data/2/AmericanFlag.jpg Dow and S&P 500 post their lowest close since 97. (cleanmpg.com/forums/showthread.php?p=190032)

http://www.cleanmpg.com/photos/data/501/Floor_of_the_NYSE.jpgWayne Gerdes – CleanMPG (cleanmpg.com) – Feb. 23, 2009

Yet another bad day on the floor of the NYSE.

The US stock market took another hit Monday leading the Dow Jones Industrial Average (DJIA) to the lowest close in over a decade. The weight on the market is coming from discussion and worry surrounding the financial sector and a partial nationalization of the nation’s largest banks.

Citigroup sits at the top of the list as it is currently in talks with the Government to increase its stake in the bank from the current 8% to upwards of 40%.

"The risk is that the current conditions force Geithner’s hand to put together a hurried and less than comprehensive approach," said Daniel Clifton of the Washington consulting firm Strategas. "Without a turnaround in the economy/housing the government will incrementally increase its equity ownership which continues the risk to common and preferred shareholders moving forward."

On Monday, the 30-stock DJIA finished lower by 250.89 points, to 7,114.78, extending last week's 485-point slide to new bear-market lows. The US bellwether index is now down 50% from its Oct. 9, 2007 high close of 14,164.

Similarly, the S&P 500 index was down 26.72 points, to 743.33, dipping below its November 2008 closing low of 752. This places one of the world's broadest and widely watched stock market indexes down 52% from its Oct. 31, 2007 high close of 1,549.

The sell-off sent both the S&P 500 index and the DJIA to their lowest closes in almost 12 years.

The Nasdaq composite index shed 53.51 points to 1,387.72 and fortunately still 71 points above its Bear market low of 1,316 last seen in Oct. 2008.

Hi All:

___On a similar and just as depressing note, the Japanese Nikkei 225 lost 3.1% to end at 7,184.50, extending losses into a third straight session and a new 27-year low. How about that one for a 401K investment? The broader Topix Index did likewise, dropping 2.4% to 721.87.

___Good Luck

___Wayne

Hi All:

___A story off the “wire” this afternoon relating to the economy and one industry that is directly related to FSP's.

Coachmen Industries receives notice regarding a possible NYSE delisting.

Elkhart, IN. -- Coachmen Industries, Inc. (NYSE: COA) announced that it has been notified by the New York Stock Exchange that because over a 30 trading day period its total market capitalization was less than $75 million its most recently reported stockholders' equity was less than $75 million, it is no longer in compliance with the NYSE's continued listing standards. Coachmen will present a plan to the NYSE within the required 45-day period demonstrating how it plans to regain compliance with these listing standards within the allotted 18 month compliance period.

Coachmen Industries, Inc. is one of America's premier systems-built construction companies under the ALL AMERICAN HOMES(R) and MOD-U-KRAF(R) brands, as well as a manufacturer of specialty vehicles. Coachmen Industries, Inc. is a publicly held company with stock listed on the New York Stock Exchange (NYSE) under the ticker COA.

___Good Luck

___Wayne

So, when the Dow goes back up to 8000, are you going to continue these updates? "Today, we're back at 2003 levels..."

;)

Hi Jkp:

___Just for you, I will do a big update when we hit 14,000 on the DJIA... again :D

___Personally, I am now considering reentering in 20% chunks on any sell-off.

___However... If you saw the Toyota and Honda January sales and production figures, you would not want to own either company right now. This is not good because Honda owes me $1,600 right now :(

___Good Luck

___Wayne

I'm still waiting for Ford to go below $1.50 It could happen.

Hi Dale:

___It is already so diluted that gains will be slim and with the new VEBA agreement, future health care costs will come in the form of stock diluting any earnings even more :(

___Good Luck

___Wayne

I remember someone on these forums saying stocks will hit 10,000 again in March.
Hmmm.... is that still happening?

Hey, I just had an idea. Would this be the right time to start a thread on favorite antidepressants? We could rank them by how low they make the stock market feel.

It's all a hard core rest. it was all so over inflated. From stocks to property, cars, labor and nothing to back a bit of it. In God We Trust! Thats what the green back is built on with a good helping of greed. And a good sales job from the government to the bankers. Funny how the bankers still got our money this week. I need a contract like that! here let me screw up on my job and have the people of America pay me out for it. Look at the junk the big three have built for the last 40 years. And the stupid contracts they signed with the unions. The house of cards is falling down.

I did factory work as a younger man. Became very clear if sales dropped off. The folks on the line took it up the ass. The office folks rode it out most of the time and wrote each other bonus checks. Learned early on,,, don't depend on a soul to load your pipe.

We are no where near a so called great depression. Just a hard reset. And if you think its bad now just wait. If the Anti Christ Obama gets his way we will see inflation that will make us wish for the Carter days. And the folks wanting a hand out from you and me will be at numbers greater than we ever thought could happen. Not because they need it. But because they can.

Its insane now days.....

Hey, I just had an idea. Would this be the right time to start a thread on favorite antidepressants? We could rank them by how low they make the stock market feel.

I think everybody I know is on crazy pills, sleeping pills and energy drinks and want brain drugs. Something is very wrong with this picture IMHO! As I hide my crazy pills. :rolleyes: