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Futures Just Crashed To New Overnight Lows, S&P Down 3%
It just went from bad to worse.
- S&P FUTURES AT DAY’S LOW, FALLING 61PTS OR 3.1%
- NEW LOWS FOR NASDAQ FUTURES, DOWN 195PTS OR 4.6%
- NEW LOWS FOR DOW FUTURES DOWN 533PTS OR 3.2%
- EUROPE’S STOXX 600 FALLS 5.3%, WORST ONE-DAY DROP SINCE 2011
- TREASURIES EXTEND GAINS; 10Y YIELD FALLS TO 1.967%
Visually:
Someone wake up the Fed: "They have no idea how bad it is... They know nothing." Etc.
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Is it time to panic yet?
<Unfortunately the fat lady ain't even awake yet and not even close to singing.>
Glad to see the stock market go the other way. Enjoying every bit of it.
Has the CNBC Buffoon started the "They know nothing" spaz attack yet ?
But but but, my 401K'S
Next stop Dow 12K.
Still waiting for Kim Kardashian to take notice. At that point you go into full retard mode.
I am trying to figure out what to tell clients (the ones who have more money with the big bank brokers) after telling them for years what was going in the markets (you know? The truth) and what could and would happen? I never tried to sell them anything, only educate them, seem like they liked being sold instead of educated. Now most of them are going to feel trapped, like they can’t sell now. I did not try to be right, just honest.
Any suggestions?
Yes: remind them, in your best John Houseman voice, that when "ZippyBananaPants" talks, people listen.
So long as ZH is up
I made the call a couple months ago that the fed would allow or cause a crash to allow them the political cover to implement new policies. This is confirmed by the St Louis Fed indicating that QE was ineffective. This indicates they want to try something new not to mention is the opposite of what they did last year when the market crashed, which was to hint at QE4. Here we go.
What you didn't call were the mkts causing the crash, and that's where it's at.
I'd say the fed not backing off of a possible rate hike, calling QE a failure, and not swooping into the rescue having something to do with this crash. But yes, without fed support these markets were inevitably going to crash.
Cog Dis, welcome to the 6 year club. I hope you enjoyed the ride.
Just bought more batteries for the solar cell battery bank and upgraded the inverter to a 48 volt system. Bring it on bitches.
I bought a Wrist Rocket and a metal detector...small game and small change...I should be good...
Burbon or scotch for breakfast
Knob creek 120 proof
And I get to chase it with a shot of I told you so
Old No. 7 still works great for me.
Coconut feni only for breakfast, got those nutrients .
One scotch, one bourbon, one beer.
That old tune should make a come back with so many out of work now
And the rest of em about to be let go soon.
https://www.youtube.com/watch?v=--AvCsh48bk
Both made from whole grains.
Bourbon is best for breakfast, scotch as a dessert nightcap.
There mght be a reversal here. The S&P might be a bit oversold at this point.
I think you forgot the /sarc tag
Think of the Banksters.
Is it time for me to finally get out my 'the end is near" sandwich boards and start walking the streets?
Wait til crazy Joe Kernan has messy hair. That's when you know they are off script and it may be real.
I can't wait for the political class to chime in w/ their wisdom
Dont think this is THE big correction. Some sort of intervention will occur one last time. H2 2016....
I don't think you are considering the leverage now built into the system. There will be no such thing as a correction when every last participant has margined thermselves to the hilt, when every last company has borrowed billions to buy back stocks. When this goes down just 10% (give or take) nothing is going to stop this unwind.
I'm a optimist , it's crashing nicely !!
Big crowd at the doors and smoke is thick..
Booyaaa! Keep calm, the Yellank will ride to the rescue.
Man... so many of my colleagues and bosses will be puking blood today. They had all doubled down.
Time for an event. Get your plans ready.
Wow....Kramer going full-Retard....*priceless*
Wow that was just -100 more on the dow. Went from -490 to -594. S&P went down to -70.
The Great Obama has done everything humanly possible to right our economic ship so brutilly torpedoed by Bush. But he can only do so much. This is clearly Bush's fault and everyone knows it. Now to more important things. Has "Cartman" Gartman opened any new positions this morning?
Fate the Magnificent
"Push the Button, Max"
remain calm, all is well
https://www.youtube.com/watch?v=zDAmPIq29ro
Looks like the best old yeller could hope for today is a solar flare and for the power to go out across the whole country.
There is nothing to worry about. This is temporary and the central bankers know what they are doing. They are the smartest people in the room. All will be fine as long as you sell hard assets and buy more stocks after this mild correction.
I am COMEX silver.
(COMEX gold has left the room)
Someone dust off Chuckie Schumer. We need him to tell Mr. Yellen to get to work.
All the sheep are pushing the 'sell' button this morning! Typically the wolves will push it further down to rape the sheep, then buy some magical products to bounce it back a bit and cover.
This is a real Bath of Blood.
It's so simple even a Krugman could do it. The solution to halt global economic collapse due to severely debt-laden governments, is to radically increase national governments debt. There's another Nobel Prize waiting for someone.
Dow -665, ya baby....
Burn baby burn! Fiat inferno.
Stay off the sidewalks near tall buildings
how about an article on progress of 401k reallocation out of equities?