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The Bear Market Party Welcomes Germany, Europe, Which Join China In The "20% Correction" Table
Last night it was the world growth dynamo (China), now it's Europe's growth dynamo (Germany): DAX (and STOXX) both enter bear market territory (20% correction) following the Shanghai Composite. The entire world is on its way to the 25% correction we said is inevitable before QE3 is started.
DAX:
STOXX:
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One of the more clueless pax on the Eurotard Ship of Fools opens his ignorant piehole:
FRANKFURT (MarketWatch) -- European Council President Herman Van Rompuy on Monday praised Spain and Italy for taking further steps to "strengthen fiscal discipline" and applauded the European Central Bank for deciding over the weekend to ramp up purchases of government bonds through its Securities Market Program. "These decisions will contribute to financial stability in the euro area," he said, in a written statement. "I also welcome the close cooperation at the global level of the G7 and the G20" to deal with challenges faced by the euro zone and the U.S. economy.
Excuse me, off to sell some more!
How Low Do We Go?
Blue Monday, bitchez!
http://azizonomics.com/2011/08/08/blue-monday/
Going to whore that link on every ZH post this morning?
The chinese economy was built on nearly interest free loans from the u.s. for thirty years. They continue to grow today by maliciously manipulating their currency, employing child and slave labor practices, reverse engineering foriegn products, and destroying the environment. Your blog sucks and so do you. go pimp your crap elsewhere.
And I covered my short on Friday. Dang.
Catch a falling knife?
I just wish the Asshole of Omaha finally shuts up his big fat mouth with self serving comments like 'The USA is still tripple A for me...' bla bla bal
Gold 1702.60
http://finviz.com/futures_charts.ashx?t=GC&p=m5
Gold don't need no stinkin 25% correction!
Aussie ASX200 down 19.9% from peak, may as well throw them in too.
Herman who?
They're sure keeping their thumb on silver.
"They're sure keeping their thumb on silver."
Yeah, a cheaper way to suppress both gold and silver... and, they are looking for cheap since they are getting slaughtered holding gold shorts.
welcome and come on in. the water's warm... and getting warmer.
+1 seriously.
A lot of people looking for answers outside the MSM now, have some compassion for their ignorance, and recognize how they must be feeling right now.
Fucking Cramer on Blowhorn "isn't this the wrong morning for the individual trader to wake up and realize that things aren't going well?"
FUCK YOU SHITBRAINS, You have been cheerleading the great Bull(shit) market for MONTHS and NOW you are Bearish? This morning?
What a complete fucking tool.
He is a tool indeed, just like all the other miners who mine the mine... like CNBC, the banks, the brokerages, the newsletters, the advisors, and a million other clowns.
this market is completly brokern and off from reality.
Gold stocks down again pre market. with Gold @ 1700 Barrick (ABX) for example trading BELOW 2011e PE ratio of 9.
crazy, who the fucking hell is selling gold stocks.
Oil in decline, which brings cost per ounce down.
Maybe this will change when investors finally find out that 90% of all ETF`s do not hold the gold bullion the claim.
Gold stocks are just stocks, everybody who wants to suppress PMs are selling gold stocks. That would be the same people buying physical, the treasuries and central banks of the entire world.
When will miners realize that issuing a gadzillion shares of stock will eventually drive investors away from them?... not to mention pizz poor eps...
Get physical!
1096 on the snp is 20%. still 104 points lower from friday close. maybe we get there by 11AM?
Oh, the grand old Fed Chairman,
He had ten thousand zeros,
He marched them up to the top of
Everyone stands up
The hill and he marched
Them down again.
Everyone sits down
And when they were up they were up.
Everyone stands up
And when they were down they were down.
Everyone sits down
And when they were only half way up,
They were neither up nor down.
Everyone half-way up
(wash, rinse,repeat)
Didn't the Shanghai Index lead the West down the rabbit hole in 2007? If I recall correctly, they were 6 months early. If so, shouldn't they be expected to lead us out of this "correction?" We'll see. I wouldn't put too much faith in charts and economic indicators without the Shanghai Index pulling out of its dive.
At least everyone stopped using these ridiculous eupehmisms like "quantitative easing" I heard Langone, Greenspan, Kashkari, and just about everyone calling it money printing.
We can't default because we can print money, and Buffet upgraded us to AAAA
It's more than Germany.
Click above to see:
Austria
Belgium
France
&
Switzerland
All have joined the party and the bear is hungry for some American meat.
The USA can't default because it can simpily print however much money it wants to pay the bill. Yeh right Mr Greedspan. Pay with a USD devauled by 30% is the same as default.
The GFC revealed Buffet to be a rank idiot.
Guys, we have been a bear market in Shanghai for quite a while. So nice to have so many of your beautiful faces join us.
When this bear market is over, we probably will be the first out. It is all about a "queue logic". In the past, no queue, just logic. Now we have a queue, will the logic play out?
but, but, but weren't we up in january? doesn't that always mean we go up on the year? i swear I can find some CNBC video clips showing that!
Nothing like free markets at work...
100% FUBAR.
I just read a story on Smart Money talking about market corrections. How market corrections usually last more than a day but typically only last for a few weeks.
SORRY BUT IT IS NOT A CORRECTION IF THE MARKET GOES RIGHT BACK UP TO WHERE IT WAS BEFORE THE "CORRECTION".
Seriously, if an idiot teacher graded a test and gave it a 92% and then someone higher up noticed the error and proceeded to give it a real grade of 60%, the test stays with the 60%. You call that a correction and the kid doesn't get his test regraded back to 92% when every knows giving it a 92 was wrong in the first place.
Sadly with the stock market nearly everyone believes that the high prices are justified. If a $100 stock is taken down to $80 in one week but then goes back up to $98 the week after, that is called a correction. The pundits all say that the correction was justified and the stock needed to test lows so that it could climb higher. It's total madness.
The XAU is in the green
All the real money makers, banksters and whatever else you want to call them are on an all out attack on the markets to stop gravity. The problem is what goes up must come down sooner or later. The only problem is they are screwing everyone along the way. Glad I am out of all this insanity today. nothing better then reading ZH and laughing at some of your comments.
Gotta find humor some where today. You all are brutal!
SIlver staying low. Still under 39.00 Gotta love that LinkdIn quote today. 105 to 85 in 5 days. That's finding a true valuation, except it shoul dbe about $25
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