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European Close Sends S&P Tumbling Back Below 2,000
"Good news" it would appear in the exuberant ISM and construction data, has morphed into bad news now that Europe has closed and US equities are tumbling. Despite the best efforts of VIX and JPY, the S&P 500 cash index just broke below the crucial 2,000 level.
S&P breaks back below 2000...
and JPY carry is not helping...
Neither is VIX...
* * *
Retirement off...
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Tyler mentioned a downturn, time to buy.....
"It only hurts when I think about it."
All this hype and anxiety to push this S&P wind bag higher and stuff gold in a box is just a bad deal waiting to go pear shaped.
Like clockwork... up she goes.
yup, buy the dip now cause by the end of the week (if not today) you will be buying all time highs again.
Ha, Ha. Not necessarily. It'll be a miracle if this corrupt over-priced bitch makes it through October in one piece.
Fucking hell!
WTI taking a massive dump. Someone ring up the golbal CB's Belgium proxy office and tell them to stop buying so many USD. Oh, and BTMFD!
< sigh > in the absence of any mechanism for true price discovery returning, keep buying the dips, selling the "all time highs" and collecting those dividends...
how fucking boring, profitable, but boring, and with much larger implications for what is to come...
Tumbling lol, clown.
they're really killing Vlad's oil here just hope nothing goes off in Iraq, Libya, Ukraine, Iran....
new warfare - instead of missiles, buy dollars
The markets goes up until somebody big doesn't get paid and bitches about it (and one would assume the CB's would pay the big guys, so that means the market goes up until one of the Big Guys doesn't accept payment from the CB's).
^^^^this, then and only then will things start to get interesting.
if bonds keep making daily 3% moves look out
2,100 here we come. Jobs jobs jobs! You didn't build that, the unions did.
Its a buying opportunity.
Seriously, ZH - this is starting to get annoying. "TUMBLING" the SPX was down 6 points, 6 fucking points. We know you hate it when the market goes up, but this site is starting to have the same bias to the markets as a liberal to politics on MSNBC. Report the news, keep us up on things we wouldn't normally see from the MSM and leave the market to the market.
I agree, but I'd say there's always been a bearish bias here - not predictions of imminent crash necessarily, but constant (and probably justified) questioning of the sanity behind the markets. But then, all commentary is bullshit anyway - whether its MSM or ZH opinion it doesn't mean a thing as far as trying to predict where the market might go next.
Don't all the insiders and "players" have their money out now? Why is it still being propped up? Why not let the market crash and the let the sheep take the hit?
We on ZH like to talk like things are simply for the benefit of ____________, but - in reality - it's always more complex.
A collapse would wipe-out the 401k & pensions of the top 10%. The US society has always been run for the benefit of the top 10% (that's 30 MILLION people, which is ALLOT of people). There's no conspiracy. The top 10% own the country, they own the stocks, bonds, and politicians; they are the management class that run the corporations and government. The banks can't be allowed to fail if the top 10% wants to keep living the good life.
And that makes sense. But I always was under the impression that these folks make a lot of money on the downside and the ride back up. That they all have amazing managers for their money and that a crash or correction is desirable because it is such an opportunity.
I'm sure I'm being to simplistic about this but I picture all this downward pressure that needs to be relieved - why not let it happen, make money on the way down and on the way back up?
Because there actually isn't a small group of people with their hands on the levers. There's just a large number of slightly above-average pathologically-optimistic smart-n-savvy sociopaths running many large powerful organization trying to protect their turf (and asses) from other slightly above-average pathologically-optimistic smart-n-savvy sociopaths. No single sociopath - or small number of sociopaths - is going to "cause" a correction and get "blamed" for anything and lose their power and privileges.
Adult life is just high-school with LOTS more money and power.
Adult life is just high-school with LOTS more money and power........... and ear and nose hair.
Agree with everything but the..... "There's no conspiracy".
Patently, that's false.
A conspiracy is exactly what it is.
Maybe legally, but it's all out in the open.
The adults (those who live by duplicity) run the show, the children (who obsess about morals) are confused about the "correct" behavior of the adults.
The path to success in any large powerful organization is first showing that you've got what it takes BE an adult.
You haven't worked for any of the Big Pharma companies, particklerly Eli Lily. They run some departments precisely like junior high school. It's all rumor, backbiting, with popular employees for too long a time getting away with murder, violations of company policy, and whistleblowers are treated like shit, though they may have saved the company billions in fines.
This is the bullshit mantra that saves their skin.
You want to tell me my dentist is going to go broke if the banks lose his money?
Bullshit.
What you mean is the parasites playing the paper shuffle who contribute nothing to society but mobbed up properly with the establishment that also contributes nothing, will not survive if their value were not artificially propped up by the club.
Not buying it. We don't need the banks. They take far more than they give.
Re: You want to tell me my dentist is going to go broke if the banks lose his money?
By "banks" I meant Financial Institutions: banks, mutual-funds, insurance companies, etc. I'd bet your dentist has lots of loot stashed away in his mutual-funds (the loot that isn't invested in apartment buildings, anyway, which seems to be the favorite of dentists). He would not be pleased if the "market" corrected to the "true level the doomers fantasize it should be at".
'The crucial 2000 level'
Yea whatever, btw just shove some more free money in and I'm sure they can close their precious index back at all time highs no problem.
As soon as some douche comes on cnbc and says there may be a correction the market goes up another 50 points.Simple to trade.
...... Shhhhutup and get your tits out.
looks like somebody is trying to make the quarter with DGLY ...
Damn, Nasdaq down nearly 2 1/2 points..... Oh, the Horror. Better fire up Vix curbs.
Been over 2k for like 3 days and now it's a "crucial" level?
FFS perma bears are more annoying than the bulls really.
Expect to see the headline ' Dow sets new record on light trading day of 1000 shares' any day now.