The Dow Is Going To Crash Like In 1987?
THE chart at The Big Picture claims to show the parallel between 1987 and 2007.
To refresh: on October 19 1987 worldwide stock market collapsed after shares on Wall Street suffered a wave of panic selling.
The Dow Jones industrial average fell by record 508 points, or 22.5%. By the end of October, stock markets in Australia (41.8%), Hong Kong (45.8%) and the United Kingdom 26.4%. had all fallen massively.
And now we are invited to see the similarities between then and now…
Posted: 2nd, May 2007 | In: Twitterings Comments (4) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink
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May 4th, 2007 at 5:50 am
It won’t happen now, as if the intraday DJIA index drops more than 10%, a circuit breaker is implemented in NYSE and the system will halt.
May 2nd, 2007 at 5:01 pm
I agree, the picture tells it all.
It also gives me an idea of what colour top to wear with the gold lame mini skirt I’ll have on when I sit at the bar looking lost and forelorne and in need of a “friend” when my investments take a nosedive.
May 2nd, 2007 at 4:06 pm
People like pictures - the graph is compelling
May 2nd, 2007 at 2:47 pm
I keep repeating I am not a fan of the 1987 parallel to 2007. I am not saying its impossible — just less likely than other potential parallels (My choice is 1973, Doug Kass’ is 1937).
Yet many readers keep drawing my attention to the 1987 conclusion. AS A SERVICE TO THOSE OF YOU WHO FIND THIS COMPELLING, here is an overlay of the chart several of you have sent in.