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Hall Of Fame
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3,918 Posts
This was the first day the market opened since the news that AT&T would move to DirecTV starting February, effectively ending the DISH Network relationship.

Normally, an industry's collective stocks move in the same manner, unless there is extremely disappointing news that batters one company...

DTV down 10.92 percent
DISH down 18.66 percent

I don't think the rollercoaster is over for either of them. Heck, they just started going down the first hill...
 

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Godfather
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949 Posts
All markets are down today 8% for S&P, 7% for DJIA and 9% for NASDAQ. DJIA set a record today dropping 777 points in one day. The cause, as noted above, the House failed to pass the $700 billion bailout bill.
 

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AllStar
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66 Posts
No worries here. I'll actually be picking up DISH stock when I suspect the market corrections have completed and a possible upturn will begin.
 

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Hall Of Fame
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1,837 Posts
Beleive me, E* stock is not the only one down today, this is part of a bigger thing than the AT&T deal.
 

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Hall Of Fame
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15,561 Posts
Yeah, and since AT&T fell 7.5% it must be DirecTV's fault. From Yahoo News:
NEW YORK - Wall Street's worst fears came to pass Monday, when the government's financial rescue plan failed in Congress and stocks plunged precipitously - hurtling the Dow Jones industrials down nearly 7 percent. The almost 780-point decline was the largest one-day point drop ever for the index.

The percentage declines for the Standard & Poor's 500 and Nasdaq composite indexes were even larger.
But nobody was buying any stock including Dish stock today except at a discounted price. Dish just had far fewer buyers than wanabe sellers rather than just fewer buyers than sellers. The AT&T deal didn't help.

Wasn't a particularly good day for my portfolio either at -6%. Oh well, lose a few, lose a few.
 

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Hall Of Fame
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15,561 Posts
I wasn't looking for Congress to do the bailout. Don't really know why anyone would. It's way too complicated and way too expensive to do a few weeks before an election. And it's still unclear for most Americans what the fallout will be.
 

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Hall Of Fame
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15,561 Posts
Since the DirecTV announcement AT&T is down 6.9%. So I guess it's bad for AT&T?

The stock market did today what anyone would have expected. Folks snapped up the good buys at low prices.

Dish is not a very good investment right now and the AT&T arrangement loss is only part of the picture. DirecTV would have been a very good investment for a savvy day trader if bought at yesterday's low of $23.65 and sold over $27.00 today. The long term effect on DirecTV being in partnership with AT&T could be good or bad. We'll see.

With that said, it doesn't indicate one thing to anyone about how best to get your TV service. As I've said on other threads, IMHO Dish has been fumbling alot of marketing balls over the past two years. But I still get my TV from them.

Now I've got to enter the closings for today into my portfolio to see how I'm doing this year.:icon_cry:
 

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Hall Of Fame
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21,331 Posts
I sold the rest of my Dish today and added to my DTV holdings. I just don't think that Charlie is doing things right anymore. Being a long term guy (I held Dish since $1.50 adjusted for splits and the dividend) I figure that in the next few years DTV will be a better move.

I'm still a Dish customer.
 
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