This day 80 years ago

This day 80 years ago was called " Black Thursday " when stock market in New York - Wall Street crash ( October 24, 1929 ) but the catastrophic downturn is on Monday, October 28 and Tuesday, October 29 unprecedented and long lasting economic depression for the US and the world, stock market fell on that day for a full month.

Some bankers met to find a solution to the panic and chaos on the trading floor with vice president of the Exchange, they purchase a large block of shares in US Steel but over the weekend stock prices crashed even further, the market lost $ 14 billion in value that " Black Tuesday " and make $ 30 billion the loss of the week. They need 25 years ( 1954 ) for return to pre 1929 levels.

Dow Jones Index
Date : ......................... High : .............. Low : .............. Close :
1929 - 10 - 24 ............ 312,76 ............. 272, 32 ............ 299,47 = " Black Thursday "
1929 - 10 - 28 ............ 295,18 ............. 256,75 ............. 260,64
1929 - 10 - 29 ............ 252, 38 ............ 212,33 ............. 230,07 = " Black Tuesday "

1929 - 09 - 03 ............ 386,10 ....................................... 381,17

1954 - 11 - 23 ............ 384,29 ....................................... 382,74 = After 25 years.

They called this era as Great Depression, many of peoples have lost their job where unemployment was high and many company failed.
After we free from great depression we get into World War II, after we free from crocodile mouth we get into lion mouth.

Top 10 000

Yesterday ( October 14th ) DJIA closed 10.016, passing the symbolic 10.000 level, The traders says it's much faster than expected. The Dow rise up to 145 points or 1,5 % a day and The Nasdaq composite rose 1,5 % to 2.172. The first earnings surprise come from Intel and JP Morgan Chase.

Along with the stock market, oil futures in New York settled at a high for the year, $ 75 a barrel and The US dollar was pressured as investors moved into other assets, like gold which have high score and breach $ 1.000 per troy ounce since October 5th.

Other index in Asia rise : Hang Seng 21.999, Strait Times 2.712, Nikkei 225 have 10.239 and Indonesia composite index / Jakarta Stock Exchange ( JSX ) have 2.515.
Some traders hopes that stock's momentum may carry through year end, but others still worry, I'd like to say, Wise man says : Only a good Sailor / Captain can sail his ship through storm raged with safe. Have a good trade !.