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Dow Jones 13,000 Crossed 52 Times in Past 3 Days, Wreaks Havoc With Retirement Plans Of Trader Community
Since the amount of coverage the Dow 13,000 has received on CNBC indicates that it is clearly the indicator for half of the actively trading population in America to hang its hat and retire, we can only commiserate with the retirement planners of America who have had to do only to undo retirement plans for all of 7 people give or take (as we said, half the entire active trading population of America, although we should clarify of the carbon-based variety) a whopping 52 times. Yup: that is the amount of times the 13,000 barrier has been crossed, and uncrossed in the past 3 days alone. We fail to recall any other Dow milestone that has been proven such a technical problem for the market to succumb. And that it closed below it after the second LTRO, and after today's Bernanke testimony is certainly not a good sign. On the other hand, all those people who are going bald from putting on and taking off the 13K hat, can finally take a break.
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mom?! somebody broke my market!
13,000 is in what units? OHHHhhh it's in DOLLARS. Change the scale by cheapening the dollar and we can make it appear that the stock market is growing...
I bought a tape measure that has units that change how ever I want them to. I'm selling it for $15 trillion dollars. I called it the "Federal Reserve Tape Measure".
flacon: If you can make a bathroom scale that does that, you'll sell millions!
I'd use mine to mess with my wife.........For weeks at a time she thinks she's losing weight....then she gains thirteen fucking pounds in a matter of days, ha, ha, ha. Talk about an emotional roller coaster.........
The historical pattern is clear....as I've been long explaining:
http://thespiritoftruth.blogspot.com/2012/02/dow-13k.html
God have mercy...
and put pre-split C, AIG, and GM back in just for fun...
"Mom?! Somebody broke my market"
I think it was that smelly kid named "Ben" ...
baburu keiki.. Japanese for "bubble economy"
http://en.wikipedia.org/wiki/Japanese_asset_price_bubble
It all makes sense: http://www.armadamarkets.com/2012/03/roller-coaster-market-update-29-02-2012/
Bob Pissani @ 3PM "I'd rather have a stronger economy and no QE3" may have top ticked this bullshit rally
"I'd rather have a stronger economy and no QE3"
And I'd rather retire to a California beach and drink out of a coconut served to me by Ms. USA.
Can you get another spot for me please? I'm house-broken.
Who's Bob?
Who cares what Bob thinks?
Why the fuck are you watching that shit, anyhow?
Try someting intelligent, like Jersey Shore.
Fuck Bob.
Bob, go do something constructive; go punch Whitney
My advice?
Never take advice from someone whose last name sounds remotely like "piss on me".
Regards,
Cooter
As an aside, isn't Pissani's old man a big real estate developer in 'Joisey ?
In terms of constructive market "commentary," Sonny cannot find his ass with both hands.
He would not know a strong economy if it jumped up and bit him on the ass..
seriously would anyone follow Bob Pissonme
ha ha, I remember in 1997 or 8, the big thing was DOW 7000
I assume this chart is accurate ...
http://home.earthlink.net/~intelligentbear/com-dj-infl.htm
Lets party like its '66!
45 years, down the shitter ...
Regards,
Cooter
This time is different
New game!
Every time it passes 13000 take a shot. Every time it goes below 13000 smoke a bowl.
I have a feeling I'm going to be very F*&'ed up by Friday close of Market...
ya think? i'm betting it's all down hill from here .... I don't think 13K is even in the cards again until Ben comes out and says "just kidding - of course I'm going to give you your QE3"
Better smoke first.
Many a frat boy has blown his chunks doing bong hits on a belly full of Jager.
LP - you must have been watching me during my 1st couple of semesters.
ZHers, take heed, above is some of the best advice EVAR on ZH!
Many non frat boys as well.
ha ha, I'm in
You're a wild thing, JPM!
I can +1 that.
;-)
Well Tyler, at least you didn't post the "DOW 13000" hats every time it went above 13000 over the past few days! :p
It gets even more interesting at 14K, because it changes from a hat to a gimp mask.
My mask is far more chic.
The maschines are rattling! Sit tight ppl :
I like doom porn as much as anyone else. But the folks at the Daily Reckoning have an interesting perspective:
http://dailyreckoning.com/the-great-comeback-no-one-will-believe/
Fact is, because we've been on this continent in large numbers only 500 years instead of millennia, we have not managed to entirely use up/fuck up our natural resources yet. This gives the U.S. a large and entirely dumbshit-pure-luck advantage in surviving the coming shitstorm. On the flip side, we're much softer and lazier people than those in most of the rest of the world. Bottom line is you can't write off the U.S. until you factor in stuff like this.
The problem is mostly social, not physical. America has become one of the most dysfunctional societies in centuaries and the rest of the world is right behind us.
Hell, we could acquire more resources off-world if we had a functional society.
Perelmanfan: I have a background in manufacturing and I can tell this is going to be MUCH harded then it appears. For one, we have absolutely stopped developing manufacturing talent in this country -- NOBODY goes to school for industrial or manufacturing engineering anymore. Secondly, companies that went through big outsourcing to China efforts probaby shipped all of their tooling/molds over there as well ... that stuff is NEVER coming back (actually, the contracts we signed with China guarentee it - its never leaving the country). Not to mention that once we outsourced our manufacturing to China, we developed a Chinese supply base to support it ... which ended up putting most of our US suppliers out of business ...
HUGE can of worms here. It could take us, realistically, a couple of decades to get back to where we were in this country from a manufacturing perpective.
Manufacturing and working is not part of our culture anymore. We have become a state run welfare nanny state of gimme, gimme, gimme.
Those jobs are NEVER coming back. Not in my lifetime at least.
It's the mentality of our country - fat slobs watching snooki on UE and food stamps.
Not only have we stopped teaching the skills. There isn't anyone left that could even figure out a new machine from Germany or China. It is one thing to know how to use a break, or lathe from 1952. It's a whole other thing to figure out how to program a new computerized milling machine when every word printed on it is in another language.
A packaging plant I use just bought a new machine from Germany to run folding boxes. They needed Germans to come here and install it and another German is staying for two months to teach everyone how to use it. If something breaks, yep they need to call a German to fly over and fix it.
Try, just try to get a plastic part made in the USA today to replace a part from China. You almost can't get it done. Need something cast metal, almost nobody left because of environmental regs.
You might find one or two plants in the USA to fit your needs but the machines will be out of date and the price will be terrible. You'll probably need to pay for mold costs as well. One search on Alibaba and you'll find 3000 places to get the part, and all of them will have an English speaking person to talk to. Manufacturing in the USA is a joke. Take away autos and big ticket items and there is nothing left. There are some places just hanging on. Getting a $3000 order is enough to goose the area PMI by 10%.
"Take away autos and big ticket items and there is nothing left. There are some places just hanging on. Getting a $3000 order is enough to goose the area PMI by 10%."
Mostly true, but not entirely. I worked as a maintenance engineer until 2008 in plants making carpet pad, copper tube products (e.g., radiators), foam and tape products, and sheet metal HVAC products. I would take 1970-1980 era machinery and completely redesign the controls. New wiring, PLC, HMI (English and Spanish capable), safety, networking, motors and controls - but almost EVERYTHING I used came from Japan. Allen-Bradley is WAY overpriced, Siemens and Omron not much better.
Can't do that now. Working for a plant is one thing. Insurance at this point is ridiculous.
One big problem, the manufacturing equipment manufacturers do not understand software. Makes it hard to create modern tools.
Tyler, you still don't get it. This is to make sure that everyone has a chance to see the headline "Dow above 1300 since the financial crisis".
Glad to see we are finally getting a correction. This is a good thing IMO. Market needed to have a sale.
In other news worth repeating:
http://finance.yahoo.com/news/bonus-withdrawal-puts-bankers-malaise-050100338.html
So if THESE people are canceling vacations and clipping coupons....how does that help the recovery Mr. Benny????
Those suffering douche bags. May all of those banksters rot in hell!!
13,000 is meaningless (as is 13,001 and 12,999). Just because some on CNBC are enamored, does not give it credence. Must be slow news day.
I'm pretty sure at this point they wish they hadn't given it so much attention ...
City of London and NYC real estate bubbles have met their pin perhaps.
HK, Vancouver and Sydney are already falling. The psychology is now very negative for RE....Ex, over 75% of HK'ers and Sydneyites think RE will fall this year.
this is just campaign garbage for the Obozo admin. Jimmy Rogers called it right- expect a lot of good news, it's an election year.
yeah, but 'good news' and 'QE3' are like oil & water. uncle benny better get his tap shoes out ...
They always used to advise people to stay in the game, it will come back up sooner or later, so some people did.
Then Lehman, Indy Mac, Fannie, Freddie, AIG, GM, Chrysler and a few others all considered blue chip and good as gold retirement investments went broke and their stock certificates considered to be good only for kindling.
I look at the DOW and Nasdaq and see them approaching the levels that they achieved before the .dot com bust, how many years was that ago? Over a decade.
This hold business really doesn't apply anymore does it? For indexes to not reach positions they achieved in over ten years, with most of the predominant members back then no longer around and new companies trying to fill in the gaps using inflation to even the past's score, it isn't anything to write home to mama about.
Yeah it comes back.... in dollars that buy fewer and fewer micro gallons of gasoline for the car that cost more than your first two houses combined.
*shake* *shake* *shake* "Get out of my market already you stupid investors. Don't you realize that who panics first, panics best? I need an emergency, damnit!"
I prefer the take a shot smoke a bowl perspective stated earlier.
Change I can actually believe in....
You actually don't go bald from wearing a hat.
Though, I suppose it could pull some roots when taking it off.
Hmmm 13,000 - Looks like a top is nearby, read this weird astrological article 'The Jupiter Cycle: Predicting Major Stock Market Reversals'
It's in the stars!
Well, I still have my DOW 10,000 hat. I know I will be needing it again. Just got that feeling.
my barber isn't very happy about this bullshit
DOW 40,000
Well, Bernanke thinks he saved everyone from financial collapse. He seems to think that rescuing the Stock Market saved the pensions and retirement income of all of the people. The only people that he saved from financial collapse was the Bankers and Wall Street Traders.
He failed to see that the pensioners will spend every dollar that he saved in higher heating oil prices, higher gasoline, higher food costs. Lower interest on invested income in the Banks, CD's. Even money in the mattress looks good as you do not lose principal.
All of this with a few Trillion Dollars thrown at the Market that will have to be paid off for 3 generations.
Bernanke is a super smart Man but as is the case in may smart talented people he has NO common sense.
If you notice crashes are getting closer and closer together. We had the 2000 Nasdaq crash, the 911 crash, the 2008 crash, the housing crash, the flash crash. I think we are due again for a crash.
Crashes only seem to be getting closer. In HFT time we are already in the year 29,000. Average 40 year economic cycles are still happening, just to us in our time perspective it seems faster. Today alone may have already seen two or three centuries of trading.
March is a selling mth as is April. CB's and Governments will try and juice markets with more of their bullsh*t. But technically, the market is breaking down. China PMI fudge came out and somewhat supported the market. But gold, jeez that is worry. Either get a deflation wipe-out, oil tanks too, then the CB's come in mid yr and print. Hard to say. Iran could go hot very soon. China goes into an economic crash...there are so many events creeping up.
But yeah a HFT inspired flash crash (big one) is due.
If we get another crash and Apple takes out the Nasdaq i'm trademarking iCrash and printing millions of t-shirts.....
or iFucked
or HOLiSHIT
or iGot Jobbed
or iBroke
I never put on that hat and went bald anyway...WTF.
Hmm - that chart looks somewhat like late April / early May 2010 when the Dow was at 11,000. (Ooops).
I'll see your cross and raise you 3 crosses.... and call divergence on the small caps, transports and materials.
DOW 13k is like trying to convince my wife to swallow. Oh well, there are plenty of young girls in the US that need $. LOL. I have never gone that route and the situation is really sad.......there's a smaller city going to hell not far from here. Walmarts right in the middle of it of course, not uncommon to see high school age appearing girls dragging 2 or 3 kids around. Fucking pathetic. No future whatsoever. All in the name of the allmight dollar. The motherfuckers in power all need to be loaded into a giant spaceship and shot straight into the fucking sun. Of course where your tin foil hats and shields that day because that amount of methane coming into contact with the sun could surely be an extinction event.
anyone have an opinion on $EDZ long?
anyone have an opinion on $EDZ long?
The last time the USD/CAD was in a tight parity range, the markets fell by 60%.
My heart is hoping it'll happen again.
But my brain is telling me that it may be more like a long slow grind for the next 5 years.
short paulson,hahaha.
http://www.jinrongbaike.com/
http://www.cnhedge.com/
gold in the ground is the only way to retire.
http://expose2.wordpress.com