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This is what happens when everyone shifts from the same side of the boat to the other... at the same time.
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Now back down 600+! YAY!
This is what happens Larry!
One could say that a trendline is forming....
:)
Complete and udder chaos on the floor of the NYSE today! I believe in the White House too!
I've heard that to!
Seems like Obama lost one of his favorite Golf Clubs!
The missery...
.
Dam terrorist TEA party did it by throwing teabaggers like Schumer into the vacuum tubes.
wish i was as bold as I was in 08...sheeit...saw that H&S a mile away but this one confirmed.
1100 points in a few days; this is just a waterfall crash goin on. As we're not rocketing north, one must assume that the QE3 is not sailing tomorrow. The rally started a week before they announced last time and any leak like that would have muted this crash. In fact the leak was probably SP downgrade plus there will be no QE3 tomorrow
QE3 is already calculated in? :)
That's what they would say back in 2009 :)
Here's a good spot to bring this into the variables:
http://www.astrologycom.com/mercret.html
Mercury Retrograde Mercury retro in Virgo and Leo [August 3, 2011 – August 26, 2011]At 03:50 UT (Universal Time) Wednesday, August 3rd, 2011, Mercury the wise communicator—and universal trickster—turns retrograde at 1°12' Virgo in the sign of the Virgin, sending communications, travel, appointments, mail and the www into a general snarlup! The retro period begins some days before the actual turning point (as Mercury slows) and lasts for three weeks or so, until August 26, 2011... At this time he halts and begins his return to direct motion through the zodiac.
Everything finally straightens out on September 9th, as he passes the point where he first turned retrograde. more at link
I wish I had the cojones to trade in this market but the Big Banks/FED made that impossible for me to do so back in 2009. When you know they have the power to make these markets swing wildly in any direction they want, you take your ball out of the game and walk away. :-)
I lost my balls in the last crash. Now I can't play the game.
I hear ya. I was swinging a few trades at work for a while but this is a tough game out here right now. I'm satisfied sitting in fiat to transact, buying metals on a monthly basis to store my savings. I fear being priced out of gold fairly soon with nothing left to buy but silver, I'm alright with that.
S&P down 6.66%
6 6 6
Holly shit I just noticed that! What a cowinkedink.
perhaps a true sign of the Barackalypse?
What's funny is I see the DOW clocked in at 5.55
remember wasn,t it that number on the SPX to go long, 2 years ago?
With GOLD up 70 and S&P down 87, the FED is trapped in a sense. If they QE3, Gold goes up $100? or more and if they do nothing, Stocks continue downward (trend in motion). There is lots of momentum because many big players have NOT hedged their long exposure (the market fell too quickly). And Primary dealers are huge option put sellers so they are getting squeezed. The average Joe sixpack will get scared with moves like this and look to cash in his equity portfolio but there is one small problem for Equity fund managers, ie. there have just 3% cash. So if redemptions pickup, selling will continue.
Actually the S&P downgrade gives the Fed cover to do NOTHING. Maybe the Fed asked SnP to downgrade?
Bonds are rallying because they realize the above idea and if we see the dollar rise it will confirm this notion.
While everybody is looking at great earnings, the market is really selling off because it sees a liquidity crisis. If the Yen goes up much more, the Japs will be forced to dump bonds. If Europe sinks much more, the holders of US debt will dump their most liquid asset. China and Mideast are two other big players who will also dump. So who will dump first? Bonds away? I don't know but we live in interesting times.
haven't seen declines like this since 08...given that every significant piece of news is leaked at least days in advance, I am coming to the conclusion that there won't be a QE3 anytime soon.
If that is the case, that simply hasn't been baked in. QE1 was real fuel and QE2 was more fumes. QE3 would have to be mainline injection to get a fix going here. So many tasty shorts at 1350 and I actually called that top but didn't act on it.
These slides have been simply brutal this past few weeks. I mean 500 backed up by a 600. There'll be a relief rally at some point and it will rip off faces, like that 1000 they hung back in 08. However, at every turn up back then it was time to get short balls-deep. I dunno here, but it seems really like we've hit a trend change in overall psychology. When you see A/D ratios like this, just fking everything is getting bailed on. In 08, gold went south hard, but now we see it spike bigger than USTs and even the gold stocks were spared the carnage today.
+1 Insightful.
silver hung in too... on a down 600 day no less when everything was rocked. Gold keeping it afloat / silver adding drag but regardless.... All this qe has brought the '08 effect into some new, unchartered territory.
yep, and when they're all overweight, lazy fat-fatties.
my son calls 'em "ground pounders".
Where is Rainbowtrader?
Inquiring minds want to know.
I think he is reading up General Jim, or puking up blood or he has jumped out of a window after swinging from chandaliers, whips and spoons, unkle thug.... I could go on.
He's sitting in a Tijuana whorehouse behind a sign that says: "It only cost $5"
Interviewing potential avatars
After defending LA cops on Saturday he has been pretty much gone.
quadruple A rating
how long does the head need to be pushed underwater for that sucker to drown?
10 more minutes...
Buy tangibles - Gold, silver, water, food and land:
http://sotcksdairyroadfarm.blogspot.com/
Right on, amigo. Gold, guns, grass, and grub.
Buy, Buy, BYE!
It all feels like a dream, the whole last week.
Never imagined in my wildest dreams that Gold moving opposite to S&P in such a short time.
Gold jumping $100 in a week, scared a little.
que the pm correction in 4...3...2...
We haven't seen anything yet.
Gold will have $100 daily swings before too long.
Oh, you haven't seen anything yet. There's lots of fun to come.
Riots
Starvation
Prositution
Family members who used to openly mock you at holidays begging for handouts
Ya know, the usual stuff when a currency is utterly destroyed.
Prices are going to accelerate even more, count on it.
At least prostitution is an honest profession.
The entrepreneur is never dead in America. There's always something to sell.
...prostitution...
MUCH better than Bankster...!!
Prostitutes have it better than drug dealers: They can wash their crack and sell it again!
I dreamed last night I got on the boat to Heaven
And by some chance brought my printing press along....
http://www.youtube.com/watch?v=o7kzsZreG0o
Tea Party, R U there? R U happy now? is this what you wanted?
Mr Market has spoken and you R THE Loser
Wipe your face. You got some on your chin. Did Oblunder let you wear kneepads behind the podium today?
Not a bit F...er. Im not even at your continent. YOU R the loser but probably to stupid to realize it.
I just feel pitty for the rest of the 80%& of your country men that didn't vote for the idiots.
Ummm, we don't get to vote for our banksters, only their puppets.
pods
I just feel pitty for the rest of the 80%& of your country men that didn't vote for the idiots.
If you're going to force everybody into the same safety net then expect dissenting voices. If you don't like the dissent then stop forcing folks into the net. Treading on me is contraindicated.
Oh yeah, if the so and so party were in office, all would be better. We could argue about their social agenda while the same banksters steal us blind.
Sorry, been there, done that. Bankruptcy will fix the system quite nicely. My gold will keep me fed, and my guess is my rifle will be plenty warm.
The TEA party didn't create this situation; they are just forcing everyone to deal with it weather they want to or not.
Rainy days and Mondays always get me down.
Idiot
youngandhealthy, @ 15:53
If your handle denotes your age/physical status, that explains your stupidity.
When men call evil good, and good evil...........you can kiss your country bye bye.
Someone had to try and put some FISCAL sanity back into the Congress.Too bad it did not work,but it did get their attention.
S & P in order to maintain what semblance of a rep they had, had ZERO choice doing what they did, and should have 2yrs ago.
If you want to deride that, you do not belong here.
+1 .
FISCAL SANITY? Pushing back against every action to increase tax revenues from the top 1% in US society and the richest corporates? What kind of FISCAL SANITY was that?
Fiscal sanity for the top 1% and the richest corporates, maybe. And see what they have brought on to themselves now.
Your tears are delicious.
ROFL Fuu, what is good in life?
Answer:
To crush the banksters,
To see them driven before us,
And to hear the lamentation of those without PMs
And all was going so well until those jerks made unreasonable demands like cut spending, reduce the deficit, stop playing accounting games, reform entitlements.
Yep, it's all their fault.
</sarc> (since you probably are too clueless to pick up on it).
Tea Party has never wanted chaos. OTOH if short term pain is needed to prevent utter destruction it would be worth it. The Tea Party (and conservatives in general) have been warning about this for years. We've taken the dirty looks, made the career-jeopardizing statements, suffered the ridicule of TPTB.
And you know what? We were right.
We prepared. We reduced our debt, increased our savings. What did you do other than shoot the messengers?
Haha...just wait and see when the rest of GOP turn their A.. against you....
U R deemed
Dean Wormer says fat and stupid is no way to go through life son.
I say skinny and penniless is pretty bad too Y&H.
I always though voting without knowing what is important is not a moral act, it is akin to drunk driving or drive by shooting near a school yard.
Y&H has got it all figured out, it's the Tea Parties fault. If they hadn't crashed the party, the world economy would have grown out of this trap.
I M deemed to be what?
Well technically the TEA party folded up like a lawn chair when it came time to vote, so you cannot really blame it on them.
pods
youngandhealthy:
"Tea Party, R U there? R U happy now? is this what you wanted?..."
Dang, no junk button, no greenie/reddie thingies.
OK, you are an idiot and not very entertaining as a wanna-be-troll.
- Ned
{I think that we're having more fun than Sacrilege is.}
Looks pretty "orderly" to me.
In fact, it looks like it was drawn using "Birinyi's Ruler" - only upside down.
friggin awesome
Excellent. Can't wait until we drop sub ES 1100.
I won't be happy until the survivors are sporting mohawks and leather chaps with the arse cut out. Then I am buying at market bottom.
I can afford to wait, I have PMs.
Back-to-school sale in the equity markets--everything must go!
Orderly retreats can become routs very quickly
Die you fucker die!!!
at least gold is above $1,713 per ounce and +3% today! ... my mining stocks still 20-30% down from their april highs and on balance even today down ... go gold bugs go, anyway :-(
PM miners are getting hit pretty hard, but should come back and come back big with the gold and silver prices. I am betting the farm on it.
My guess is that most all PM miners will be nationalized, or 'windfall taxed' to death in an effort to keep the scam of government going another day, so you might not want to bet the whole farm on that.
C'mon sell JPM bitches!
BAC: 6.66 -1.51 (-18.54%)
TARP ME BITCHEZ!!!
OBAMA IS PAYING THIS ROUND YET AGAIN!!
HAHAHAHAHAHAHAHA!!!!
JPM:AG .88880
THAT'S BELOW STERLING 925 GRADE!!!!
Dick Bove throws in the financial towel, has no banks to recommend. Stays in cash
Financial s bottoming ?
Oh, I'd say they have a little ways yet to go. (one eyebrow raised in a "Do you get my understatement?" way)
where is Asia going to go tonight? I hope China has a plunge protection team.
Almost dove off the cliff last night before PPT intervened: Kospi was off near 7% at lows
Sweet mother of blessed acceleration
Time to start pouring the drinks. Happy Hour has begun. Jack Daniels wants to join the fun
George Thoroughgood:
http://www.youtube.com/watch?v=lpzqQst-Sg8
THREE stock market crashes in eleven years.
"Price stability," bitchezzzz!
Good,that we got rid of that stupid Glass-Seagall Act.....Free Markets FTW!
Glass-Steagall was not simply rescinded but was replaced with even more extensive legislation which gave more power to those in the highest financial and political circles.
True deregulation is what is needed.
When the ass falls out of all the administrative and governmental systems in the US you will have your "true deregulation".
Personally, I don't think it's going to work as well as you think it might.
I think that I want to make my own decisions about my own life. If you want to be subjected to the arbitrary whims of governmental masters, please feel free (well, not so much).
Price stability is over rated
- Alan "Maestro" Greenspan
bang the close bitchez...
Methinks it may be a historic 7/10/14 day slide before it is over...
Tanking into that close. Beautiful.
Chairsatan will be drinking at the bar tonight.
http://o.onionstatic.com/images/articles/article/21/21059/Drunken_Ben-R_...
And in other news, congress people are going back to their districts... in Israel.
http://www.cbsnews.com/8301-503544_162-20089313-503544.html
Report: 81 congressmen going to Israel on break
... handing Israel its undeserved 1.5% of GDP subsidy from the US, when Israeli unemployment is several percentage points lower than ours.
Nauseated yet?
Hundreds of thousands on Tel Aviv streets protesting against economic conditions.
Where are the marches on D.C.?
They are behind schedule on the indoctrination classes. The newbs must be taught who their real boss is.
Well, at least 4:00 has come .... too bad there is 9:30 tomorrow morning.
Not too bad for those of us who saw how this was setting up back in 2008-2009 when they didn't fix the problem. Ride it up, ride it down.
Not for me. After today's gold prices, I am celebrating. 9:30 will just have to wait for 10:30
And we are flat to slightly green on most miners. No complaints here.
I think I will send Tyler my old DOW 10,000 hat. It is going to be a worth a bunch here soon.
Russell 2K officially in bear market territory
When I was laid off back in April, FAZ position was -50%, today..I made 7%. Thank you Barry and co.!
Someone, anyone ... STOP... Waddell and Reed.... NOW!!!
+ -888
Sorry, it would have been positive vote, but my kudos flash crashed before I could hit enter.
Well played
Make that cocktail a double tonight ...
a big THANK YOU to TD and ZH. sold all my equities in mid-may.
Well played...I got out last year when the Dow was around 10,600. Now at least I feel like I haven't missed any upside.
This is what we get when the Secretary of the Treasury can't even do his own taxes.
What a day. UGL AGQ (and ZSL) were friendly. Need to pull the parachute on winnings and get moe physical
Nasdaq about 40 points away from bear market
Someone pease remind the Wall Streeters that when they jump to make sure to make it off of the 4th floor or higher to be sure they do it right ;)
Sold some Treasuries today. Don't know which lemming bought them. Now I'm trying to decide what to buy with the cash. I may just sit on it until something intesting (like a barrel of oil) shows up on eBay's half.com.
S&P @ 4:07 = down 6.66%.....*I'm just sayin'*
Looks pure evil to me.
S&P closes at -6.66%, que TARP 2, QE3, and you are right pure evil, remember last time S&P had 666 associated with it...
Well there goes qe2 now to wipe out qe lite.
this is now a tech broken market, supports have been smashed. a total fear trade. even the ECB print job 12hrs ago did nothing, the market is factoring in that money print jobs will not solve the debt/insolvancy crisis.
It was rather fitting that Zimmer was ringing the closing bell tonight. They can give all the traders who are on their knees a frame on the way out!
Just think of the faux wealth that was just destroyed! And think of how much worse the US financial position is going to get knowing they blew 4 Trillion to pump the market and in a flash it is gone.
The Feds balance sheet is loaded with garbage and the housing collapse should now accelarate as people just start walking away in droves.
Cool! Dow down today = -6.66 percent! (6.66)
We have now given back all the upside of QE2. Whats the point of more stimilus. It cannot even keep this Ponsi market elevated
The point was to stall so the banks could make a profit on inside information and manipulated markets, as well as stack gold for the end of the game. All in all, it has worked really well, for them.
Guffaw.
It's the S&P500 that is down 6.66 Dow down 5.55
25% slide will get you QE-3!
That is a small price to pay for FREE MONEY!!
Thank God for the Money Hole!! http://www.youtube.com/watch?v=JnX-D4kkPOQ
The only quadruple The Orifice is going to get is digits, not A's. Suck it Warren.
I am replying to Clueless Economist's post earlier on :
Who Stated
S&P down 6.66%
6 6 6
=======
GoThese Luciferians always love sending messages thru numbers as they think they are in control (even if for a short season). Required reading for them should be Revelations 19:20 and perhaps some of them might repent. Many will not and curse God in heaven instead, Not A Good Idea!
Buckle Up and put those chinstraps on this time
Where is Jhonny Bravo?
what are the odds Dow hits 9000? or will QE-3 save the slide?
The SS Recovery is on quite a tilt.
Expect some huge upswings here too. One thing is a pretty good bet--companies can generate earnings regardless of what fiat those earnings are in. S&P to zero? Hell no. It will grind and moan and fight before going down, i.e. at some point people will think risk of systemic failure is manageable enough to buy again.
But I want this fucking fiat to die.
I asked the girl at the lunch counter today if they were still accepting dollars for payment. She just gave me a puzzled look when I said "Sucker."
Paging Mr. Barton Biggs ... Mr. Tyler Durden on Line One ... Mr. Barton Biggs ...
all these fairly impressive drops as of late don't begin to make up for the dozens of unaccountable +100 and +200 point DOW surges we've seen over the past couple years, not to mention the several fortnight-long 'win streaks'. A year ago the S+P was bouncing violently and repeatedly off of 1040, like a cat on a hot tin roof. The experience of the past 2 years tells me they could do it again. And eff the debt crisis, sovereign debt, earthquakes, volcanoes, tsunamis, war, famine, etc. etc. etc.
Now there you go!
I like the way you say volatility.
Time to move back to the other side? (I guess so if you're unwinding the unwind - but maybe not for the same reasons.)
Always remember, you're only as good as your last trade. ;-)
THE S&P 500 MONTHLY CHART THAT FORECAST THE CRASH.
Further downside expected.
http://bit.ly/x618
5 days of decline during the time that the administration is "secretly" negotiating with S&P about the downgrade? Gee, guess nothing got leaked by Timmy G to his friends in Ball Street. You can be sure all the cronies were short.
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