Muir_on_Saturday Posted July 16, 2002 Share Posted July 16, 2002 [huge inhale] gasp [huge inhale] gasp [huge inhale] gasp has this board been down or what?? (i have a hard time holding my breath for that long.) pant... Quote Link to comment Share on other sites More sharing options...
texplorer Posted July 16, 2002 Share Posted July 16, 2002 Its a good thing I am diversified into Coug-R's-us, Horsecock and Fitch, and a small mutual fund. My 51% share of SnaffeInc. dropped by by over 6 points! I hope my sleeper stock in Scotteryx pays off. Quote Link to comment Share on other sites More sharing options...
Charlie Posted July 16, 2002 Share Posted July 16, 2002 Joe- that was brilliant! Quote Link to comment Share on other sites More sharing options...
joekania Posted July 17, 2002 Share Posted July 17, 2002 From the Wall Street Journal: Snafflehounds Rescue Falling Market New York- A small futures market has been cited as the saving grace in the face of recent losses on Wall Street. Yesterday's losses on Wall Street were attributed in part to a flurry of day trading in the Pacific Northwest, market analysts say. A temporary server malfunction caused a market segment usually appeased by posting chest-beating trip reports and spray to divert its attention to other online sites. "Most of our posters started checking their 401Ks and stock portfolios when they couldn't get past our home page," says a source from the climbing website "www.cascadeclimbers.com" who would only identify himself as 'jon.' "We had people at our hosting service working around the clock knowing that having all of our members loose on the web could have an impact on the local community. But we never expected it to go this far." Market watchdogs also reported that the resulting free time enabled climbers to spend more time on offshore e-retailers' websites, where Northwest climbers shop for discounted equipment. The flow of capital outside the US market caused an ailing US dollar to fall even further. "The lower exchange rate on the dollar made foreign investors temporarily lose confidence," says Lisa Christenson of Bloomberg, "causing a domino effect on the domestic markets. A minor drop early on Monday morning cascaded into the impression of the bottom falling out under investors," whose confidence is already shaky after numerous media reports of corporate accounting scandals. "The end result was a weaker demand in the federal bond market, driving up interest rates and slowing corporate investment. Luckily a surge in the market for top show snafflehound futures mitigated the early damage and the market closed at a less intimidating hundred points down," says Christenson. The market for snafflehound futures was suddenly flooded, driving down prices and turning it into a buyers market. "We're not really sure what they are," commented Christenson, "but they really saved the day." Quote Link to comment Share on other sites More sharing options...
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