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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!
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:
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.
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:
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.
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.
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....
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.
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.
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