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EPIC PLUNGE: -633.78, 6th Largest Drop In Dow Jones History

Submitted by Tyler Durden on 08/08/2011 16:09 -0400

And there you have it: following last Thursday's massive 500 point drop which so many said was a buying opportunity, here comes a -633.78 plunge in the DJIA, which is the 6th largest absolute point drop in Dow Jones Industrial Average history, following 4 larger drops in 2008 following the Lehman bankruptcy, and one back in 2002. We just made history. If the DJIA can drop more than 800 points tomorrow, which it probably will if Bernanke does not announce QE3 in some form, 2011 will be #1!

And in other news, the VIX soared a ridiculous 50% to 48 for the biggest jump since 2007.

- advertisements -

Mon, 08/08/2011 - 16:11 | 1538942 Flakmeister

BTFD?

Mon, 08/08/2011 - 16:13 | 1538974 Spitzer

Warren Buffet is buying so QE is coming.

Mon, 08/08/2011 - 16:18 | 1539015 razorthin

he's a keynesian shill and a pathetic human being. i'll rely on my own technicals, thank you very much.

Mon, 08/08/2011 - 16:27 | 1539124 nope-1004

Epic? Sure, if all was normal. This is part of the plan. Gotta plunge the market, manipulate PM's, show weakening employment, then..... QE folks. Benocide saves the world! Now go back to amerikan idow.

Mon, 08/08/2011 - 16:45 | 1539266 Max Hunter

It's official.. The terrorists have won... Not sure who they are.. but.. they've won.. Damn it anyway..

Mon, 08/08/2011 - 16:57 | 1539346 redpill

-6.66% on the S&P, just like the Maiden song...

Night was black
was no use holding back
'Cause I just had to see
was someone watching me
In the mist
dark figures move and twist
was all this for real
or just some kind of hell
6-6-6 the Number of the Beast
Hell and fire was spawned to be released

Mon, 08/08/2011 - 17:09 | 1539422 Solid Gold Bubble

and -5.55% on the dow. they are laughing at us.

Mon, 08/08/2011 - 17:52 | 1539604 eureka

Yep - pathetic numerology and symbols - just like in laundry detergent ads - and PentaGun "patriotism" ads - superiority complex and tribal fear woven tightly to motivate the mass of unconscious (brain-dead) bio-slaves.

Any chance the U.S. military-industrial complex will be dismantled now - or will the inferiority-superiority complex continue - financed by infinite Bernanke QE3$ ...?

Mon, 08/08/2011 - 18:17 | 1539687 Judge Holden

"Any chance the U.S. military-industrial complex will be dismantled now"

"Now" as in this year? No - but now that modest debate has finally been allowed to occur wrt our endless warfare policy, I'd say we could see significant cuts to our military by the end of the decade. If, for no other reason than that there will be no more social programs left to cut from.

Mon, 08/08/2011 - 18:56 | 1539816 Haywood Jablowme

Now the panic comes in. Mom and Pops around the USSA still dumb enough to keep an IRA are gonna dump, dump, dump....

Sinclaire's $1784 gold heeeeeerrrrrreeeee we come

Mon, 08/08/2011 - 19:08 | 1539868 Re-Discovery

1764

Mon, 08/08/2011 - 19:48 | 1539981 Don Smith

3.0

http://t0.gstatic.com/images?q=tbn:ANd9GcSFZcYBrz_2rOKNgFW_muXbrjTceoKB-...

Mon, 08/08/2011 - 19:27 | 1539930 rocker

As much as Ronald Reagan is quoted. Why doesn't somebody listen to his common sense.

Twenty-five years ago a suicide bomber killed 241 American troops in Lebanon. They are simply wackos over there.

What did he do. Pulled out everybody and said, Blow yourselves up because I'm bringing home ours. That was the end of it.

Nobody shamed him. So far we have lost more troops under Bush than the idiots killed citizens on 9-11 also under Bush.

So who is stupid? We are. We gave tax cuts to the job creators when we went to war and lost 6 million jobs.

They are destoying our economy and draining all our wealth. Now they want to steal S.S. from those who need it and paid into it.

And one more thought. Who will have the balls to bring our troops home now and say enough is enough. Surely Bambi doesn't.

Mon, 08/08/2011 - 20:43 | 1540173 moregoldplease

Bush is not the president any longer. The new president, since 2008, is Barack H. Obama.

Just trying to help

Mon, 08/08/2011 - 17:42 | 1539561 IQ 101

6+6+6 = 18 1+8= 9

8+8+2+1+1=2 as in 8/8/2011

2+9=11 as in 9 becomes 11, familiar numbers.

It all seems tin foil hat madness,but is it?

When a Rabbi? sat down to make a copy of the Torah he was not described as a scribe but as a counter, i forget the Hebrew term used.

Im not personaly familiar with the outfit that created the link below

but they seem to have displayed the info I am attempting to relate,

http://members.cox.net/8thday/meaning.html

A guy by the name of Ivan Panin did a ton of work in this area,well worth checking out,

It all makes me go HMMMM!

This is not the black and white world we thunk it wuz.

Occult, Bit......never mind.

Mon, 08/08/2011 - 17:52 | 1539605 IQ 101

P.S. Zero is an Arabic invention that came much,much later,

Zero means nothing in this case, 20, yes I know.but not.

Mon, 08/08/2011 - 18:42 | 1539767 Wynn

you might like; or not

http://www.bookofdaleth.com/

Mon, 08/08/2011 - 20:02 | 1540036 aviat72

Zero is not an Arabic invention. Zero and the misnamed Arabic numerals were first used by the Ancient Indians. The still in the Middle Ages, Europeans learnt them through the Arabs and hence called them Arabic numerals.

http://en.wikipedia.org/wiki/Arabic_numerals

Mon, 08/08/2011 - 20:47 | 1540184 janus

aviat72 is correct.

the arabs are credited with algegra (more specifically semitic persians...but who's counting)

Mon, 08/08/2011 - 17:54 | 1539609 Ethics Gradient

It all seems tin foil hat madness,but is it?

Yes

Mon, 08/08/2011 - 18:50 | 1539793 medicalstudent

predict something with your numbers.

yeah... i thought not.

in hidsight you could link blue shoes to a pair of titties around the corner.

but in foresight there is no predictive power.

Mon, 08/08/2011 - 19:26 | 1539924 tickhound

For me its that funny feeling you get when a system's about to collapse.

Mon, 08/08/2011 - 19:32 | 1539941 rocker

Pretty Freaking Cool IQ101.

Mon, 08/08/2011 - 18:58 | 1539825 Iam_Silverman

"It's official.. The terrorists have won... Not sure who they are.."

S&P?

Mon, 08/08/2011 - 17:08 | 1539421 B9K9

You're right about QE3 - not that anyone here doesn't already know the script. But, you're neglecting to mention the other critical element, which is when the fun really begins: price controls.

2.5 years ago, when Bammer opined that 'perhaps now was a good time to buy stocks', the idea of a centrally coordinated PPT, QE, POMO, et al still existed in the fantasy realm. However, now that the cat is out of the bag, any overt/covert QE actions will immediately translate on a 1:1+ basis into the prices of gold, oil, food, etc.

Since the QE has to be big, and by that I mean really big (Krugman big) - probably on the order of $10-15T - that means all commodities will become out of reach for the average citizen. When that happens, in come the price controls. And since that will result in shortages, in come the various police agencies and military to "maintain order" , and perhaps some emergency exec orders along the lines of 'continuity of government'.

Winning. Get it? What, you thought we were gonna get out of this the easy way? LOL

Mon, 08/08/2011 - 17:42 | 1539562 Spitzer

Spot on, agree 100%.

I made the biggest single currency exchange of my life on July 27 and August 4th. CAD for physical gold.

Mon, 08/08/2011 - 18:26 | 1539712 mind_imminst

Spot on. Still, I am amazed at how central bankers go the same route everytime and how the citizenry falls for it every time. Hyper-inflation and collapse. I am amazed at home many of my office compadres and aquaintences not only are ignorant of history but so willing to accept price controls because "it sounds good". Amazed or disgusted, I don't know. I will shit my pants if the FED (tomorrow) does not at least hint as some sort-of massive intervention (QE3) coming soon. That is all they know how to do - hyperinflation.

Mon, 08/08/2011 - 18:40 | 1539762 Caviar Emptor

After price controls come the bribed exception to price control . As happened during the Nixon administration with the price of milk and other things

http://www.time.com/time/magazine/article/0,9171,911215,00.html

Mon, 08/08/2011 - 19:29 | 1539933 sun tzu

You would be amazed at how many of our "best and brightest" graduates at the universities also think that price controls work. In every case throughout history it has led to shortages and a black market

Mon, 08/08/2011 - 18:56 | 1539815 Ricky Bobby

Of course all the black market jobs created should take a good tick off the unemployment number.

Mon, 08/08/2011 - 16:30 | 1539158 tmosley

Technicals can't predict the actions of an individual any more than the half life of a radioactive metal can tell you when a given atom will decay.

Mon, 08/08/2011 - 16:33 | 1539183 razorthin

Perhaps you missed my link the last week of July:

https://sites.google.com/site/dailyspyder/

Mon, 08/08/2011 - 16:37 | 1539209 LawsofPhysics

I didn't - thanks by the way. What few hundred thousand I had in equities went to cash and physical. Cash is king again and that king is walking on a yellow brick road.

Mon, 08/08/2011 - 16:45 | 1539248 hedgeless_horseman

Treasuries rally*

Indeed, Warren Buffett told CNBC that Berkshire Hathaway Inc. is still a buyer of Treasury bills, despite the low yields.

^{*Mission accomplished}

Mon, 08/08/2011 - 19:06 | 1539863 TwelfthVulture

I swear, sometimes I think that if it wasn't for the shitload of money he inherited from his US Senator father, he wouldn't be the self-made man he is today.

Mon, 08/08/2011 - 16:42 | 1539249 Spitzer

Do you have the video to prove it ? I do

Im not trying to brag but hey, I top ticked the CAD and got some gold.

http://www.youtube.com/watch?v=U_-8cqD4BWU&feature=channel_video_title

Mon, 08/08/2011 - 17:15 | 1539445 LawsofPhysics

Sure spitzer, let me get that electronic receipt from liberty coin posted. Can anyone post? I saw the video - delicious.

Mon, 08/08/2011 - 19:03 | 1539852 razorthin

Glad it helped. Saved myself from about $40K drubbing in my paltry retirement fund thus far. Wish I had the guts to actually short. Maybe next failed rally...

Mon, 08/08/2011 - 16:42 | 1539243 tmosley

Pardon, I misread the person you were relying to. Ignoring Uncle Warren is probably fine at this point.

Mon, 08/08/2011 - 16:40 | 1539232 Pay Day Today

Being worried about my health, I'm not worried about when one specific atom is going to decay during a given minute.

I'm worried when millions of them are.

Mon, 08/08/2011 - 16:32 | 1539166 G-R-U-N-T

This administrations assault on capitalism seems to being going as planned as is the criminalizing of free trade which is this President's ambition...

When America is in enough pain they may indeed effect change. Will see...

Mon, 08/08/2011 - 16:38 | 1539219 Flakmeister

Within the context of this subthread, this comment is clearly a non-sequiter... Taken independently as a statement of belief, it is merely the gratuitous ramblings of a fool....

Now back to your regular programming..

Mon, 08/08/2011 - 17:05 | 1539387 G-R-U-N-T

"it is merely the gratuitous ramblings of a fool...."

My sentiments exactly as it applies to Obama, however the public sector believe he's a genius...a regular God send to their self destructive ambitions. "He's brilliant" only in reverse.

Now back to the destruction of our economy...

Mon, 08/08/2011 - 17:06 | 1539408 Flakmeister

Do not confuse my disparging of your remarks as a defense of Obama...Obama is a failure and you have no idea what you are talking about.

Tue, 08/09/2011 - 00:44 | 1541335 G-R-U-N-T

Flakmeister....I hear your "you have no idea what you are talking about", however please give me some clarity on what you think Obama's motives are for this country because despite the events of the past all of this is happening on his watch, but only if you feel up to it.

Tue, 08/09/2011 - 07:57 | 1541864 Flakmeister

He has no motives, no agenda, at least one that he will stand up for. He has tried to be all things to all people. The outcome of this is that he is simply a continuation of GWB. I think that we can agree that W was also a failure. O has not fought for anything. There was a time when such an approach would have worked, i.e. a mediator-in-chief. The country needed a forceful figure who understood what caused the crises in '08 to occur, not a mouthpiece who could only see the effects and not the cause. He was given a mandate to lead this country guided by a new vision, he never used it.

The people destroying capitalism and this country are the same clowns that were doing it on W's watch. Nothing changed.

Tue, 08/09/2011 - 08:10 | 1541907 YHC-FTSE

That deserves a +1

On the subject of the main article, it looks like a green day for the markets, which ZH, once again, predicted a few hours ago. I don't know what to make of Nat Sheet's resignation as chief international economic advisor at the Fed, but the expectation of QE is once again high (presumably on the outcome of the FOMC meet today) and the markets are reacting.

Tue, 08/09/2011 - 09:43 | 1542211 G-R-U-N-T

Ambiguous leadership right now is what I believe most of us average American's are feeling. There is a level of capriciousness and arbitrary hot air coming from America's spokes-holes resulting in a huge lack of confidence in government to create a solution. There is distrust in the business and financial communities and this lack of confidence in government right now is resulting in this shock wave in the S&P.

Empty words and frivolous explanations by our President doesn't add to our fiscal confidence it only increases a level of uncertainty. Reasonable American people as you have pointed out are looking for definitive explanations to get some clarity or perspective on what to do and we are not getting it from our current leadership.

I appreciate your impressions Mr. Flakmeister, thank you.

Tue, 08/09/2011 - 09:53 | 1542251 Flakmeister

My pleasure....

Mon, 08/08/2011 - 17:06 | 1539404 molecool

Did you mean non sequitur?

Mon, 08/08/2011 - 17:07 | 1539414 Flakmeister

Goddam. its the latin spelling police... mea culpa

Mon, 08/08/2011 - 16:50 | 1539298 Sp00ky

You don't read too clearly, do you? Note the article says this was the 6th largest drop. Under who's Presidency did the other 5 larger drops happen? hmmm

Mon, 08/08/2011 - 19:32 | 1539945 sun tzu

Under who's Presidency did the US credit rating drop from AAA to AA. The US is clearly in decline, due to the idiocy of Bush-Obama.

Mon, 08/08/2011 - 20:23 | 1540106 ToddGak

Sorry but, this cake has been baking for 40 years or so -- since we went off the gold standard. Obama is just the poor bastard who got to pull it out of the oven.

Mon, 08/08/2011 - 17:44 | 1539385 Widowmaker

If by "assault on capitalizm" you mean Fraud Street sticking it's dick in the mashed potatoes on the middle class' kitchen table -- then YES!

You want pain? Prosecute the fucking liars, cheaters and thieves running the incorporated money racket using the public as a shield!

Wake me when there are bloody pinstripes all over the sidewalk.

Mon, 08/08/2011 - 19:35 | 1539953 sun tzu

Yes, assault on capitalism. The free markets have been assaulted while the criminals have been bailed out. The innocent players are being punished while the criminals are being rewarded. The successful are demonized while the failures are heralded. Living within your means is now considered extremists and akin to terrorism

Mon, 08/08/2011 - 19:14 | 1539889 ElvisDog

Oh brother, do you think any of what's happened in the past six months was planned ahead of time by the Obama administration? The fact that he acts clueless isn't because he really is clueless but rather some elaborate act by a devious genius? Oy vay.

Mon, 08/08/2011 - 19:37 | 1539960 sun tzu

0bama is a fucking clueless tool being controlled by those behind him. Who the hell goes from an unknown state senator to President in 4 years?

Mon, 08/08/2011 - 16:38 | 1539218 Spitzer

me too.

I am up to my nuts in gold, gold stocks and short Canadian financials. Have been for 2 years.

Mon, 08/08/2011 - 16:43 | 1539256 tmosley

Must be hard to sleep.

Me, I just go for the occasional swim in my precious.

Mon, 08/08/2011 - 16:52 | 1539307 Jasper M

And the pitifully deformed Gollumthner says "Preeeeeeecious . . . ! "

Mon, 08/08/2011 - 16:58 | 1539353 Spitzer

^{How do you lose sleep owning debt free un hedged equity in gold mining companies ?}

Mon, 08/08/2011 - 19:17 | 1539645 tmosley

By being buried up to your nuts in gold, and not moving for two years. Hard to lay down like that :P

Mon, 08/08/2011 - 19:56 | 1540012 jomama

you must be in great shape as well

Mon, 08/08/2011 - 16:47 | 1539279 Shocker

Yeah, that is good to hear. With what is currently going on, there is plenty of upside. Gold is over $1700 and with no real good economic data on the horizon, it should continue to rise. http://www.dailyjobcuts.com

Sad to see what has come to this country

Mon, 08/08/2011 - 16:46 | 1539224 Dr. Acula

>[Buffet is] a keynesian shill and a pathetic human being.

I know what you're saying, but I think that's unfair. Try to weigh the good as well as the bad.

Buffet is an exemplar of how much better the market is than governments at providing humanity with desired goods and services.

He's an entrepeneurial genius, even if he isn't expert on economic science.

When it comes to socialists / welfare bums, there are bigger culprits that come to mind.

Mon, 08/08/2011 - 17:43 | 1539567 Spastica Rex

Goods and Services! Goods and Services! Consume and be born again!

Mon, 08/08/2011 - 19:58 | 1540020 CompassionateFascist

Buffet is a politically-connected inside trader. Just like all the other pols and plutocrats topping the Ponzi.

Mon, 08/08/2011 - 20:19 | 1540085 slaughterer

Huh? Buffett has index derivatives betting that the S&P will be 1500 in a few years. How is that politically connected? It is rather plain senile.

Mon, 08/08/2011 - 17:09 | 1539425 Simon Endean

Technicals? I suppose a pickup truck full of armed Somalis is as useful as anything else in this market... :)

Mon, 08/08/2011 - 18:01 | 1539629 Panafrican Funk...

The technicals suggest that the Bernank is starting QE3 tomorrow. This is not hard to figure out.

Mon, 08/08/2011 - 16:24 | 1539104 DoChenRollingBearing

I just mailed off a paper ballot to our favorite gold analyst.

Mon, 08/08/2011 - 16:25 | 1539108 Snidley Whipsnae

I don't think we get QE while a flight to DOWNGRADED US Treasuries is under way. I think Benny Boy is sacraficing eqities on the alter of treasuries.

Maybe later a QE when the howls are unbearable, get it, unbearable...lol

Mon, 08/08/2011 - 16:34 | 1539186 narnia

I'm expecting Bernanke to reaffirm the Fed's commitment to provide as many FRNs to the Treasury as needed to pay its debts, extoll the crumbling TBTF zombie banks, blame the potential stall of the phantom recovery on some non-Fed excuses, stay the course on ZIRP for the forseeable future & kick the employment can to Super Congress (no formal announcement for balance sheet expansion).

Mon, 08/08/2011 - 16:50 | 1539292 Smiddywesson

The game is to stall while big banks buy up all the gold they can. That is a given. They will do whatever they have to in order to delay the inevitable

Mon, 08/08/2011 - 16:58 | 1539351 breezer1

+100

Mon, 08/08/2011 - 17:49 | 1539587 Reptil

+ 1707

Mon, 08/08/2011 - 18:52 | 1539798 Haywood Jablowme

+ ring-a-ding-ding...

Mon, 08/08/2011 - 16:37 | 1539204 In Fed We Trust

Let me guess:

Goldman and JP are long (violatity)

and SHORT equities areounfsd the globe.

Is that the trade they plan to take the system?

Mon, 08/08/2011 - 19:02 | 1539849 DRT RD

Tyler, this may be off topic, but will you guys put back the red/green buttons? It allows for easier comment disernment. Thks

Mon, 08/08/2011 - 20:21 | 1540095 slaughterer

I am actually glad the green/red buttons are gone. It was a little to big brother... Would rather have boxing gloves and black eyes over my moniker.

Mon, 08/08/2011 - 20:18 | 1540060 puckles

O/T somewhat, but fresh from Japan News:

Japan to consider backup capital city for emergencies

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TOKYO —

Japan will consider creating a backup capital in case a major terrorist attack or natural disaster like the March 11 earthquake strikes Tokyo, a news report said Monday.

A new panel will discuss the idea as early as the autumn and it will be organized by the Ministry of Land, Infrastructure, Transport and Tourism, Jiji Press reported, citing unnamed sources.

The move comes amid concern that a major disaster in the heart of Tokyo—where prominent political and economic functions are concentrated—could cause grave damage to the entire country, the report said.

The panel is expected to consider moving part of Tokyo’s capital functions to a distant location unlikely to be affected by the same disaster.

In addition, it will also look at how such a backup capital will function, including whether it should have a full time staff at any time.

Osaka Gov Toru Hashimoto has proposed making his western prefecture the country’s subcapital.

Japan, located at the junction of four tectonic plates, experiences 20 percent of the strongest quakes recorded on Earth each year. Geologists have warned that Tokyo is particularly vulnerable to powerful quakes.

The 9.0-magnitude earthquake that rocked northeastern Japan in March generated a massive tsunami that wiped out towns along vast stretches of the Pacific coast, leaving more than 20,000 people dead or missing and triggering an atomic crisis at the Fukushima Daiichi nuclear plant.

Thousands were made homeless when nuclear reactors began melting down after its cooling systems were swamped by the waves in the worst atomic crisis since Chernobyl a quarter-century ago.

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AFP

I rather fear more contagion than less. However, Osaka has been the de facto business capital for decades, and was during the shogunate as well. I smell some extreme factional infighting here. Just because MacArthur dissolved the hereditary nobility does not mean that it does not still exist, and exerts influence.

Mon, 08/08/2011 - 16:10 | 1538943 Moe Howard

Go for the record! USA USA USSA USSA!

Mon, 08/08/2011 - 16:18 | 1539001 hedgeless_horseman

08-08 14:32: Obama says no matter what some agency says, US will always be a AAA...

Mon, 08/08/2011 - 16:18 | 1539023 JohnG

Buffett says AAAA, O'dumbass agrees, market plunges.

Lemme see, hmmmmmmmm, I rate it B watch neg.

Look out below.

Mon, 08/08/2011 - 16:19 | 1539035 Flakmeister

yeah, and Stalin's mother loved him to the very end....

Mon, 08/08/2011 - 17:46 | 1539572 Spitzer

now that is wit

Mon, 08/08/2011 - 16:30 | 1539154 Dr. Porkchop

Remember Barry, it's not a lie if you believe it.

George Costanza

Mon, 08/08/2011 - 16:49 | 1539290 Realdice

Actually it;s "Remember Jerry, its not a lie if you believe it". He was talking to Seinfeld ofc..;)

Mon, 08/08/2011 - 20:21 | 1540098 Bananamerican

RealDullard, He MEANT to say "Barry" ya jackass...

Mon, 08/08/2011 - 16:56 | 1539272 DosZap

hedgeless,

Yes, Absolutely Astromomically Annihalated...................dere,be yo Triple A's.

Mon, 08/08/2011 - 16:17 | 1539017 Sudden Debt

Another History day Kids! I hope you've seen it!

NOW SWITCH TO CHANNEL 4! THE SIMPSONS ARE ON!

Mon, 08/08/2011 - 16:27 | 1539133 EscapeKey

WTF? You're in Belgium, you don't have Channel 4. Anyway, watching CNBC. It's ALL BULLISH. All analysts are bullish. Ridiculous, the equivalent of having only Labour propaganda on BBC.

Oh wait a se

Mon, 08/08/2011 - 16:37 | 1539206 Sudden Debt

Yes we do :)

http://www.google.be/url?sa=t&source=web&cd=1&ved=0CB8QFjAA&url=http%3A%2F%2Fwww.vt4.be%2F&ei=20hATvbLEcmg-wb0jaHJAg&usg=AFQjCNEJP95XPGYgRYSvKc9W-fBGiaVdKw

I don't feel like watching TV today, must read internet, must read it all! :)

Are you from England ESC?

Mon, 08/08/2011 - 16:45 | 1539267 Sudden Debt

Yes we do :)

http://www.google.be/url?sa=t&source=web&cd=1&ved=0CB8QFjAA&url=http%3A%2F%2Fwww.vt4.be%2F&ei=20hATvbLEcmg-wb0jaHJAg&usg=AFQjCNEJP95XPGYgRYSvKc9W-fBGiaVdKw

I don't feel like watching TV today, must read internet, must read it all! :)

Are you from England ESC?

Mon, 08/08/2011 - 17:00 | 1539369 gangland

belgian tee vee...lulz...soft hegemony.

Mon, 08/08/2011 - 16:41 | 1539239 homersimpson

I like the Simpsons. Oooh.. donut!

Mon, 08/08/2011 - 16:49 | 1539289 Pontificating B...

and Homer says, "Git yer guns while you still can, Bitchez!!!"

Mon, 08/08/2011 - 19:41 | 1539961 Iam_Silverman

"NOW SWITCH TO CHANNEL 4! THE SIMPSONS ARE ON"

Holy dogpoop! You are right! Are you spyin' on me? Channel 4 is our "local*" Fox network station.

http://www.myfoxdfw.com/

This is our "local" Fox station - when it isn't obliterated by TI (Terrestrial Interference) from the local gas line pump station. After the "News" finishes, you are right - the fluff begins. More soma for the Proles!

edited for alcohol induced spelling errors.

* as defined by the FCC during the switch to digital, even though the Waco/Killeen stations are closer.

Mon, 08/08/2011 - 16:13 | 1538944 Mercury

As someone who was exercising fiduciary responsibility and trying to get things done in today’s market (with less than cutting edge tech!)…..that was a ball buster.... Holy crap.

Remember those boring/frustrating days of plunge protection?

Obviously instant info is so much more pervasive than it was in Oct. ’87 but back then average Joes could be forgiven for not noticing that the stock market crashed. I think Reagan was even famously unfazed.

But there are like 17 major fires going on in the world right now and the recent stock market action is only like stage #7 at Collaps-a-palooza. I can tell you that people are starting to freak....

Mon, 08/08/2011 - 21:03 | 1540244 EFNuttin

As someone who was exercising fiduciary responsibility and trying to get things done in today’s market (with less than cutting edge tech!)…..that was a ball buster.... Holy crap.

I feel you, brother. Trying to do "business as usual" cost me 17 percent on a trade today because the plunge of IWM near the close was so fast. I'm thinking QE3 waits for Friday night. So many big announcements come after trading ends on Friday evening. Who knows? Maybe the Fed really thought the blood would not flow so freely today and can't get a TARP2 or QE3 together at the drop of a hat. Picking their battles, letting equities sag and propping up bonds might be the game for the next week or two.

Mon, 08/08/2011 - 16:10 | 1538946 john39

s&P down 6.66% today. hmmmm....

Mon, 08/08/2011 - 16:22 | 1539077 Withdrawn Sanction

Now that's creepy...add to that the turn on 3/6/09 was 666.79....hold me.

Mon, 08/08/2011 - 16:28 | 1539143 mr. mirbach

It is the sign of the Barackalypse!

Mon, 08/08/2011 - 16:30 | 1539155 Id fight Gandhi

That's like the bat signal for bernake to print.

Mon, 08/08/2011 - 16:31 | 1539162 Vagabond

When I checked the BAC today it was at 6.66

Mon, 08/08/2011 - 16:37 | 1539208 TruthInSunshine

It's an illuminati close, then.

I think The Bernank does QEx tomorrow, if only because it's so irrational, wasteful, encouraging of more malinvestment, rewards recklessness, attempts to support a morally and financially broken system...

...I could go on all night, but you can figure out where I'm coming from:

Trust The Bernank to always and everytime do the wrong thing.

Mon, 08/08/2011 - 19:45 | 1539977 Iam_Silverman

"s&P down 6.66% today. hmmmm...."

Sorry, due to financial circumstances beyond our control, the number of the beast has been devalued to 616. Please see referenced link, below.

http://www.religionnewsblog.com/11134/beasts-real-mark-devalued-to-616

Mon, 08/08/2011 - 16:11 | 1538952 Stares straight...

Gold on par with platinum, Bitchez!

Mon, 08/08/2011 - 16:12 | 1538956 KeyserSoze

LET IT BURN!!!

BUUUUUUUUUUUUUUUUUUUUUUUUUUURN!!

Mon, 08/08/2011 - 16:12 | 1538958 Cursive

F to the A to the I to the L.

Mon, 08/08/2011 - 16:12 | 1538959 lolmao500

Bernanke at the bar...

http://o.onionstatic.com/images/articles/article/21/21059/Drunken_Ben-R_...

Mon, 08/08/2011 - 16:14 | 1538985 fuu

Yes, welcome to last week.

Mon, 08/08/2011 - 16:16 | 1539006 Judge Holden

One of their better pieces in recent memory. It's funny becasue it's true.

Mon, 08/08/2011 - 21:32 | 1540376 FIAT_FixItAgainTony

agreed judge. i sent the link to friends and one retorted with "you KNOW the Onion is parody don't you?"

i responded with yes, and i figured we all could use the laugh after all we've been through. then i mentioned the same thing you said - it's funny because it's true. i especially liked the part about not paying because the FRN's are worthless and playing money for nothing five times.

Mon, 08/08/2011 - 16:12 | 1538960 Incubus

Oh noes, end of the world: time to scare middle class sheep into begging for QE^2382384

Mon, 08/08/2011 - 16:19 | 1539034 Incubus

Oh sh--

-- I need a Dow 10,000 hat, damnit.

Mon, 08/08/2011 - 16:20 | 1539055 UGrev

Tanks in the streets bitches!! you fuckng know it's going down like that. Bring it on..

Mon, 08/08/2011 - 16:27 | 1539126 DoChenRollingBearing

+++

Get your guns, gold and ammo while you still can!

Mon, 08/08/2011 - 16:58 | 1539349 mick_richfield

We did that in Michigan 44 years ago. Bring it.

Mon, 08/08/2011 - 16:12 | 1538961 Calculated_Risk

http://www.youtube.com/watch?v=RAKsMnAM8vk

Mon, 08/08/2011 - 16:12 | 1538962 Smiley

Bullish; pitchforks and torches!

Mon, 08/08/2011 - 16:32 | 1539167 Sophist Economicus

I'll bring the soy sauce!

Mon, 08/08/2011 - 16:12 | 1538967 johngaltfla

BUT, BUT, BUT, BUT, Laszlo says buy AAPL now at this "bargain price".....

Of course the idiots think that the iSolution to the iCrash is ready to bring us iQE3.

Mon, 08/08/2011 - 16:39 | 1539225 TruthInSunshine

Ali Veshi or whatever his name is, on CNN, has been screaming about how the market is a two fisted buy right now, or so I was told by a laughing co-worker.

I didn't know he was an equity ANALcyst.

Mon, 08/08/2011 - 17:00 | 1539362 mick_richfield

What a fabulous buying opportunity!

In fact, I foresee nothing but buying opportunities from here on out.

Mon, 08/08/2011 - 19:15 | 1539894 TwelfthVulture

They must be doubling down on their massive buying opportunity from last Thursday.

Mon, 08/08/2011 - 19:47 | 1539983 sun tzu

That's the fucking dickhead CNN had on a few weeks ago telling us that we have to pay back the $14 trillion we owe because it's the right thing to do. He says that everyone pays their debts and that's how it works. Fucking asshole. Maybe they should have had him giving that speech to Wall Street.

Mon, 08/08/2011 - 16:15 | 1538975 falak pema

Its like watching pearl divers in Acapulco they dive realy deep.

While the smell of acrid powder is still in the air, who will buy tomorrow to follow the age old adage?

Mon, 08/08/2011 - 16:14 | 1538977 FoieGras

Remember that Bloomberg article from last week? Where they interviewed all those big Wall St. Sp500 forecasters? "We see no reason to downgrade our 1400 SP500 forecast for 2011. Earnings are looking solid".

Where are these dipshits now? Why doesn't Bloomberg hunt them down and see what they think now?

Mon, 08/08/2011 - 16:14 | 1538978 MGA_1

ANDDDD.. it gone !

8,000 very quickly if we don't get QE3...

Mon, 08/08/2011 - 19:50 | 1539995 Iam_Silverman

"8,000 very quickly if we don't get QE3..."

Or, conversely, even if we do?

Mon, 08/08/2011 - 16:13 | 1538980 johngaltfla

Epic UN-Fail....-:)

http://finance.yahoo.com/q?s=faz&ql=1

Mon, 08/08/2011 - 16:15 | 1538997 Caveman93

/deepbow

Mon, 08/08/2011 - 16:19 | 1539033 johngaltfla

Didn't today. Got it June 1...had a hunch thanks to ZH's TA at the time on several banksters during May.

Mon, 08/08/2011 - 16:14 | 1538981 Judge Holden

QE3 FTW!!!!!!!!!!!!1

Mon, 08/08/2011 - 16:14 | 1538982 Cleanclog

S&P down 6.66 on 8811. Numerologists will explain all soon.

Myself? Despite the CNBC wonderings of "why the buyer's strike", it is pretty clear. Few values to buy. Fewer products and services being sought with fewer being able to consume with additional debt. Borrowing fueled the expansions of past 30 years. There will still be biotech and communicating methods that will be good investments. The rest . . . not so much right now. And financials? If no one wants to borrow more, or even roll over their debts, howz a bank to make moolah?

Mon, 08/08/2011 - 19:51 | 1539997 Rodent Freikorps

You don't have to take on more debt.
Your .gov will do it for you.

Mon, 08/08/2011 - 16:14 | 1538984 ThatGuyEhler

If you don't have silver/gold yet, you better run, not walk, to load up.

Mon, 08/08/2011 - 16:21 | 1539076 @Watcher

Speaking of gold...

Apparently, there is an interesting correlation between the peak physical gold price and the indexes (200 year history).

An ounce of gold at today's prices more than buys the S&P 500.

Up next: Nasdaq

Finally: the DOW

Not sure where an ounce (or two) of gold will buy the DOW...maybe at $6,000 or $7,000 ?

Mon, 08/08/2011 - 17:30 | 1539509 MsCitizen2

Done that

Mon, 08/08/2011 - 16:15 | 1538987 Caveman93

PWND!

Mon, 08/08/2011 - 16:14 | 1538988 fuu

I am concerned for Robotrader.

Mon, 08/08/2011 - 16:19 | 1539042 nodhannum

Don't be! Remeber he lives in his mom's basement apartment and he would have to jump out of a basement window. He's probably just slapping the monkey right now.

Mon, 08/08/2011 - 16:16 | 1538996 Pool Shark