Stocks dive on belief global recession is at hand

All stock markets are down on growing belief that severe global recession is at hand. How low will they go? Could we hit a bottom today? Wall Street is joining world stock markets in a precipitous plunge, with the Dow Jones industrials dropping more than 400 points in the opening minutes of trading. The growing belief that the world will suffer a punishing economic recession has investors furiously dumping stocks. Grim news from overseas has added to the worldwide gloom. Big companies including Sony and Daimler are warning of tough times ahead, joining U.S. companies in scaling back their earnings forecasts. The Dow is down more than 400 points bellow 8,300 level. All the major indexes are down more than 4 percent.

Biggest Price Decliners (CNB, PRSC) Colonial BancGroup

Colonial BancGroup Inc. has been hammered hard today posting a drop of more than 70%. Wow, in one day that is a lot to loose. They top the list of Biggest Percentage Price Decliners among common stocks on the New York Stock Exchange at midday on Thursday. Another bargain? Who knows. They way the market is behaving it could even fall more but if you are a risk taker this could be an opportunity for a quick gain.

Level 3 (LVLT) Shares Collapsing. Down over 40%

Always crazy volatile, Level 3 (LVLT) shares are collapsing today on concerns about the highly leveraged communications company’s prospects in the weakening economy. For Q3, the company posted revenue of $1.07 billion and a loss of 8 cents a share; revs were in line with the Street, and the loss was actually a penny better than expected. For the full year, Level 3 says it now sees adjusted EBITDA of $980 million to $1 billion, narrowing the range from its previous forecast of $950 billion to $1.1 billion. The company said it recently completed several “liability management transactions,” reducing its outstanding debt by $179 million; it also said that it is confident it has enough cash to repay $305 million in debt due in September 2009. Could this mean a great buying opportunity? At this price level? I think you could make a killing or lose some few bucks.

After taking a little dive stocks are in positive territory today.

Too many bargains out ther are pushing Wall Street higher in erratic trading Thursday as investors, while still nervous about growing signs of a weakening economy, picked up all this bargains from stocks that were way oversold from the last two days market collapse. "Its people coming in that see tremendous value, but for a more sustainable advance I think we need more time," said Steven Goldman, chief market strategist at Weeden & Co. in Greenwich, Conn. Wall Street digested a rush of corporate news. Goldman Sachs Group Inc. is preparing to cut about 10 percent of its work force, according to a person briefed on the plan who requested anonymity because the company hadn't publicly disclosed details of the plan. Lets hope the market keeps rising...... Up up up!!!

US STOCKS Market drops on recession, profit worries

U.S. stocks were loosing value on Tuesday as recession fears fueled a sell-off in commodity-related companies like Exxon Mobil Corp.

Also the earnings reports and outlooks sparked caution.

At the time of this writing all of the major indexes were down, however they well showing sign of heading to positive territory maybe later today.

Dow ends up over 400 starting the week

Finally seeing some light Wall Street has had another big advance, with investors growing more confident in response to an improving credit market and comments from Federal Reserve Chairman Ben Bernanke who hinted that the government will take more steps to help the economy.

Here is a chart of the intraday trading for the Dow Jones today:

View the full .DJIA chart at Wikinvest