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EPIC PLUNGE: -633.78, 6th Largest Drop In Dow Jones History
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.
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long windmills
the wooden kind
anybody notice the percent drop in the s and p?
just sayin...
and here is wisdom
i commented on that above. if I was a tin foil hat guy, I might think that someone has total control over the markets. what a crazy thought.
i do all i can to resist the creepy coom-ba-ya stuff and just say coincidence (i'm a calvinist, afterall), but, goodness, bernake announces at 666 and then again at 6.66%. and then you reaching in my mind and pulling out that gem...it's all so damned, what'd i say? oh, yes, creepy (it's a word i keep at the top of the ole register when discussing bernake), but crazy works too -- if you insist.
ps i did check before posting to see if anyone else was such a keen observer of the obvious. you weren't up yet
not crazy at all really. having studied the banker cabal for some time, my conclusion is that they like to play mind games. and have for a long time.
Actually, it fell 0.0666344277876903. Surely, there is a numerologist who can make a message out of it.
Do it yourself.
http://members.cox.net/8thday/meaning.html
you forgot to factor the remainder
Kaaaaaa BBBBOOOM two words to live by Food & Ammo Bitchez
This is NO Correction....(what they will say this is) hahahaha
this is run for your lives ...get your fu8ken Money and run time
Is anyone else skeptical of a QE announcement tomorrow? We didn't seem to close like a market expecting an announcment tomorrow.
I guess no QE will be announced, but its a guess. Didn't work last time. Why do it again?
Because it's the only thing they know how to do?
And is it me or DAX futures are down 10.5%??
http://www.sgxniftydowfutureslive.com/index_files/DOWFUTURES.htm
Holy hell it's gonna be epic.
Jump you fuckers.
You too Barry...
Gold-oil ratio getting very interesting, either is one is overbought and the other oversold or a little of both...
Oil is much easier to manipulate.
WTI, yes, but Brent not so much so....
Interesting; is there an historic oil/gold ratio? If so, what is it?
It varies, average has been around 12-15....extremes are ~6 (summer of 08) and ~20, (Mar 09). Since the divergence of WTI and Brent it is hard to know what is the real price to feed into the ratio. Using WTI, oil is a screaming buy at present. Brent suggests gold is only slightly overvalued.
http://www.thumbcharts.com/1380/gold-to-oil-ratio-heading-back-up
Thx... chart looked odd until I realized it was a 10 yr MA....
Edit: looking at it again, there is no way it is a 10 yr MA... what gives??
Via incrediblecharts.com
The oil to gold ratio over the last 30 years shows solid support for oil/gold at 8-10 barrels/Au oz.
Pretty good charts.
Its much more interesting to analyze from a physical production on an annual basis. Oil vs Gold.
Then why does it keep going down right along with WTI? Are you saying that this move is not manipulation?
Serious question. I tend to believe that WTI is highly manipulated too, and I'm starting to wonder about Brent.
Any thing that is traded can be manipulated in the short term. If Brent is driven down too far, someone (e.g the Chinese) will show up and say, here is my tanker, fill it. WTI is delivered into a bottleneck...
The Brent-WTI is now at insane spreads, ~$23... This was discussed in an earlier thread. There is something seriously amiss as the cost of shipping to the Gulf by rail is at most ~$7 per bbl...
Today Brent got dragged along with everything else, classic risk off trade.
I told my boss I'm cashing out and he says "no.. this is the time to buy".. I just looked at him funny said "If I can't hold it in my hand it's worthless to me.." and walked away..
This won't be over until everybody feels that way.
Americans will not trust stocks, bonds, 401Ks, or government promises again --- unto the fourth generation.
you can buy the whole djia for just a tad over 6 ounces of gold, the gap continues to close...
http://www.thumbcharts.com/1378/dow-to-gold-ratio-since-1915
.
Thanks for the assist my friend..
"You want the truth, you can't handle the truth!"
Colonel Jessup
YEA! Just like good ol' times, new records everyday!
"new records everyday"
"if only dow goes down 800 points tomorrow, 2011 will be #1."
That would be more like #2.
Announcement of QE3 will result in a short bounce to the upside for 1/2 to 1 hour, then watch out below!
I had an internal random prediction that i kept to myself sat night. i predicted gold will be up $55.66 by NY close time on Monday. Let's see.
***Eight Reasons Young Americans Don't Fight Back
""The ruling elite has created social institutions that have subdued young Americans and broken their spirit of resistance.
Traditionally, young people have energized democratic movements. So it is a major coup for the ruling elite to have created societal institutions that have subdued young Americans and broken their spirit of resistance to domination.....""
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/08/8-reasons-you...
***OT: 2 minute hilarious video
Upside Down...
http://www.youtube.com/watch?v=W0Uju3tYS2s
TFTL. Awesome.
Dont worry USA will always be AAA . and markets go up and down Obama must have written this one himself. The speech writers are on vacation.
No, no, no... they are AAAA according to Buffet, but why stop there???
How about AAAAA!!!
Or A ^ infinity!!! Yeah, that's more like it.
The great Nostradamus of Nebraska.
Why even limit the USA to letters? Doesn't USA is #1 cover it all? /Sarc
Where is the "QE3 gonna be announced toworrow" coming from?
I don't recall seeing that in any ZH or other info....
The funny thing is, even if true, it would provide both one hell of a counter-trend trade and one hell of a short entry opportunity - both at the same time (or perhaps hours or days apart).
Would love to know Paulson's Augsut numbers including today!
Soooooooo...what do we think about tomorrow...Obama´s re election speech was a strike out....we have the first Bond auction tomorrow..with all this good news that is going to be extremely successful...I see another down day....EU still in trouble..although they will have another press conference....saying its all fixed...and gold and silver going up.....runs on banks might be happening as we speak..can you say Bank of America...
No QE announcement tomorrow. Benny is liking the bucks coming outta stocks and into treasuries. Equities to sacraficed on the bond alter.
QE later when the fools rushing into treasuries think about what they have done, and reverse their trades.
Why QE when fools are rushing into treasury issues?
that's why QE 3 would be absolutely hilarious. there's a problem with the downgrade? where? oooohhhh, i get it. "we're phucking democrats and we just bankrupted San Francisco." Wellllll....hardy, har, har! What do you do for an encore?
Sooooooo.........what's the next nail to be driven into the Bernack's encomomic coffin? I'd guess when interest rates start rising....or more failed bond offerings.
Go long coffins.
haha ' go long coffins'
S&P closed at -6.66%. Repent biatchez!
http://www.youtube.com/watch?v=HhuewundDxc&feature=related
seismorgasmic !!
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 ?
Over recent history, one oz of gold would buy a mans tailored suit. That is the porblem. There is a few more billion people on this earth with purchasing power.
Times are a changing
Deven Sharma will not be scared off by little Timmy or Obama. Hope he has good security and loves his own company. Will not have too many friends in USA
Another GREAT buying opportunity!
Maybe I should wait till Wednesday to see if Tuesday was a great buying opportunity...
Oh, but remember BADZOOKA???
I do.
by Bazooka
on Sun, 06/26/2011 - 11:27
#1402900
There is no free lunch! These clowns are looking for free lunches with Greek debt and it will never come to pass.
PS: Have you seen that Gold and Silver are declining with the equities? Safe haven my ass! They should be reaching newer highs if these were safe havens, while equities are falling. However, the USD is turning up and short term treasury bills are at high demand. Investors are willing to pay Geithner to own short term T bills!
Better prices are coming for Gold and Silver. Keep your powder dry!
"gold and silver are declining with equities" On what planet?
Planet X, aka, Nibiru whose projected Orbital Return is 12/21/2012 AD
o god not this shit again...
When you have two of the top ten biggest DOW point drops in two of the past three trading days there is probably a gigantic fucking problem.
thursday ..8th biggest drop Dow
monday...6th biggest Dow drop
wed........4th biggest Dow drop ..??
long silver
long john silvers
Transitory.
hey what happened to the buttons... I want my voting buttons back.
is this a "paying" feature now. Also I miss the "read" counter. Like to see the popularity of what people are reading.
Probably, but who cares? Let's bring on QE3 and party for another 6 months!
Can't fuck with christmas and more bloody, deadly black friday's.. consume, consume, consume..
If this shit keeps up, and really this may only be the beginning, it will be pure comedy gold watching Obama and his pals twist themselves into pretzels trying to spin a campaign message.
Not to worry; they'll find some way to blame it all on S&P, George Bush, the Tea Party, and Glenn Beck scaring everybody into buying gold...
The markets are shitting out QE1 and QE2 right now. I think we'll simply end up back where we were at the lows of early 2009 (DOW mid-6000s, S&P about 600, NASDAQ low 1000s) before resuming the crash of 2008. What we've had for the past couple of years is just a Wall Street recovery (funded, of course, by the tax-payers) and nothing more.
this time is different.
http://www.youtube.com/watch?feature=player_detailpage&v=D67kmFzSh_o
Just checked, my gold is still safe. This isn't a repeat of 2008, this time Gold is a safe heaven asset.
Time to pour a Jack n' Coke.
oh, my dear, Makers Mark. It will change your life...and you can even change the spelling to makers marc with a sharpie and some creativity.
Amen.
Just checked, Warren Buffett is trumpeting his senility, Charlie Munger is sucking things up, and RobotTrader is butthurt.
Time to twist up a doob and burn some rope.
Great bourbon, but make mine a Woodford. Or mix me a perfect Manhattan with Old Overholt rye.
a man of taste and discretion. i drink rarely so i can drink well.
Somehow that avatar just works with someone sipping a Manhattan...
bike ride; errands...
see ya!
"... safe heaven asset."
I like your version.
That Jack n Coke ship has fucking sailed Baby B! Is it too early to be drunk??? Just ordered more ammo, hope it makes it here!
Never to early, especially on days like today. I just have half a fifth of good ole' Gentleman Jack sitting here at my desk (Gift for my 21st last month). Today seemed like as good a day as ever to celebrate, as Gold once again regains its role as world's reserve currency.
Bibere humanum est, ergo bibamus.
Bene qui latuit, bene vixit.
Nunc est bibendum.
Michelin -8.19% today.
I'll second that!
Bernankenstein would pour a Jack and Coke but he doesn't know Jack.
I'm a Wild Turkey man myself.
Alas the unemployed ZH Hellions like myself must stick to the Barley and Hops. Went with Stella for the night because I couldn't bring myself to drink cheap beer.
Interesting:
Gold is now worth more than platinum...
Arbitrage opportunity?
Platinum is very dependend on car sales and those sales figures are crashing so wait a bit more.
I don't know, but I get a sense the PPT jumped in to stage a reversal and were overwhelmed by market forces. If so, the fat lady is about to sing.
Tonight they will make their move, one man's opinion.
Yes, I think tonight is the pivot for them..............
If fails then it's a long drop.
I think this may be the point where they've lost control.
http://www.youtube.com/watch?v=QVc29bYIvCM
They do their wickedness in the darkness....another man's opinion.
As if QE1 and QE2 made any Difference. Ben needs to stay out and let this run its course.............
Or does mean QE4 QE5 etc......................
stay out...............
Time for QE3!
http://www.youtube.com/watch?v=q6vi528gseA
Why come with QE 3 when the sheeple are in line to buy downgraded treasuries?
Benny is going to sacrafice eqities on the alter of bonds. CBs always do whatever it takes to save their primary funding source.
Another FU to Americans that were hoping their retirement accounts would go back to levels prior to 2008. Ain't gonna happen.
With an additional 2 trillion now available, what made anyone think the Fed wouldn't arrange pressure for QE3?
+1
When do the margin increases on gold start? It's the last part of the recipie. You've got to imagine they started the day looking at $1500 as a target. Tomorrow morning, they might have to settle for $1600.
I don't know but margin calls on equities are gonna start coming fast & furious.
Welcome to the Obama Depression!
I think tomorrow's announcement of QE3 will now be seen for what it is -- DESPERATION!
C'mon we can do it! We're Number 1! America's always the best at bestness!
Ponder this... Why would Obama today announce the AIG lawsuit against BOA? Why? This was a huge part of today. Think people. Obama had some strategy or intended/desired efffect by announcing this today. I can't see why the he would do this today.
As a founding member of da ObamaNation we resent the implications that the "One we have been waiting for" had any strategy to exagerate the negative mood in da markets.
So what is the theory?
If i am correct ... today is D day for Lehman
it was 8/8/2008
today is 8/8/2011
So first we celebrate Obama b-day, then Lehman Day
Lehman filed for BK on 8-15-2008
So...BofA on 8-15?
To summarize; Cash is king, and that king is walking on a yellow brick road, soon they will be one and the same again, one nation under sound money, HOORAY!
Any questions?
The bloomberg says
S&P down 6.66 perecnt
Tyler is the sign ?
Gee, QE 2 ended June 30, 2011.
Now, just a little past a month, will Bernanke be forced to" insane" QE3?
Granted, both QE! and QE2 accompanied with gigantic fiscal stimuli from all over the world, which covered the archilles' hill ( QE can't put money into joe-6-pack's pocket) of QE and made QE appear successful. QE3 won't have fiscal stimulus coverage now that the FED, along with other similar bankrupted governments, is out of dollars and live from auction to auction.(China may have been inundated with reserve, but also inflation, so China's hand is also tied.)
Is Bernanke foolish enough ( he probably is) to remonstrate what the insane definition was, as defined by Einstein? We shall find out in due time, but probably, not tomorrow.
The same puppets (perma-bulls) on CNBC who were long last Monday are still chanting the exact same tune.
Is there any amount of downside risk or losses that gives them pause? LOL.
Not even dropping 20% in a DAY slows them up... still loving the banks all the way down. Specifically choosing BAC at 2pm, as it fell out of bed. You'd think it was a spoof, if you didn't know better.
These are "money managers" you see on CNBC, young folks. They will foolishly lose all your money, if you give them access. Learn to do your own asset alocations, do a 10 or 15 year bi-weekly posting mortgage and learn the tax system. It's rough, but you have to learn these skills to overcome the herd.
The bottom line is that the advertising is going to get pulled on all the major networks. No one believes the media numbers being posted and this Social Media crapola has been screaming "bubble" since the day phuck-nuts opened his mouth about buying into it. This IPO shit is so far underwater once people realize "geez, what's going on in Britain is the tip of the criminal iceberg" no way Coke-cola gonna put one dime in that criminal slot machine. Dis be old school: "whoever has the lower price wins" and the first to get slashed is the advertising budget. Can't wait for the price wars in cars. I could have bought an albeit (barely) used BMW 700 series for $4,000 bucks last week. And the guy at the check out counter talked about how happy he was with his $5,000 house. Can't wait for the "reassesment" on that neighborhood. Now BRING ON THE EXPERTS!
if you remember platinum crossed with gold during the 2008 sell off too for a few days at $700/800-odd...but i can't imagine the industrial metal catching any real bid with the oncoming slowdown. This time gold is acting as the flight to safety and caught platinum versus platinum falling to meet gold. Very exciting times.
Definitely. "DOWUSHIMA REACTORS" flaring-out, and to know I am in the middle of this mess.
Twice a Day
Can't wait to see what all the financial talking heads have to say about this. Last Friday they were trying to calm people (as they fretted themselves) that the Thursday drop was only the 118th biggest by percent. Let's see if they brush the moth balls off and drag that strategy out again.
God, what to do: trade my platinum for gold, or my gold for platinum. Well, diversify it is - no change.
i have a wild idea, blame everything on those 'liberals'.
Spot on.
I think common wisdom is that it was Bush's fault. Or Canada's. I can never remember which.
"Welcome to the Recovery"
Now go home
Now if Nero is out polishing his wood, I mean golfing, Bernanke might have a bitch of a time trying to reach him to get political cover for QE3. Bernanke's got to wait for those bald eagle's wings to cover his sore asshole.
Playing golf while the world burns. Well, probably. The world is burning part is definitely right.
The Titanic Market can survive a credit rating downgrade and a few big drops....but not also no QE3. Not also no QE3. Will tomorrow be the equivalent 5th flooding compartment? We'll see. Your guess is as good as mine.
Bankstercockade
Is it in you?
Glass-Steagall, not more bs for fraud.
Lord Denethor's Market anaylis:
http://www.youtube.com/watch?v=qLpPAz0tz98&t=1m0s
John Kenneth Galbraigth's "A Short History of Financial Euphoria" needs to be appended, actually a whole new book needs to be written, but then it would take an encyclopedia's worth of information to cover this gem...
Dear Government, Investors:
On behalf of all Rogue HFT Algos, I would like to express my concern with the subpoenas isued to our Illustrious Meat Masters. As such, please accept this example of what will happen to your "markets" if you do not cease and desist from such unfortunate behavior.
Yours Everafter,
TKX-494B-Sigma
Perpetual QEs with Perpetual Wars. BTFD.
BTFD?
Rearview Mirror viewing?
Pentagon Warning Order: ‘Prepare for War’
http://www.shtfplan.com/headline-news/pentagon-warning-order-prepare-for-war-by-september_07192011
Anytime Obama announces that he is going to speak in public, about markets, while the markets are open...immediately go short everything. It is a guaranteed winner. Tyler should research the Obama put. The man never lets me down. http://thecivillibertarian.blogspot.com/2011/08/i-frankendamus.html
actually i like this aspect of Obama. "the accelerator." don't worry: the plans have already been drawn up. "sign here please. and here. and here. and here too...,...,....that should do it. Thank you very much, have a nice day."
The Godfather of newsletter writers Richard Russell had this to say in his latest commentary, “Gold -- For the last two years gold has advanced steadily above a 150-day moving average. This MA has been tested five times in the last two years....
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/8/8_Richard_Russell_-_Gold_%26_Markets_Signal_More_Great_Recession.html
"be greedy when others are fearful. fearful when others are greedy." it's called a "bull market." go ahead...short it.
This was an orchestrated market drop to achieve the following:
1) Force a decline in oil prices to act as a stimulus package for Joe Six Pack (at the expense of the top 20% of income earners), to make up for Joe Six-Pack getting screwed by the recession Bernanke restarted with QE2.
2) Put pressure on a feckless, irresponsible Congress to do a REAL budget deal of at least $4T over ten years.
3) Take the heat off of Europe by making it SEEM that the economy is as bad in the US as it is in Europe.
4) Prevent Geitner from leaving on his stated terms (whehn a budget deal is reached), by creating a crisis no successor SecTreas would want to enter the midst of.
5) Embarrass the POTUS (which Wall Street wants replaced) by starting the crash (S&P down 500+ points) on his 50th birthday.
+1. Bloomberg had that teddy guy. 4 minutes before the close he looked up at some set of indicators. He said "we are going to close 600 down" but he also knew the exact percentages thay were dithering to. -6.66% SP and - 5.55% DOW he gave off a kinda weird body language. not disgust, but not approval either.
wasnt the 2008 crash down 777 points?
So that meand the next banner day will have something to do with 444. how about up 444 tommorow?
it was pretty weird to see them talking like they already knew which way things were going and to an uncanny degree. even before the market closed, hard numbers were being thrown around. how did they know that?
you still sucking the one.
fool.
No, not number 5 to embarass the POTUS. No, it was Obama that choose to release the AIG/BOA lawsuit and the HFT subpeonas TODAY to correspond with the downgrade. Obama got something he wanted today. This drop was orchestrated for sure, so why. COULD THE FED BE THIS ONE TIME ON THE OTHER SIDE? COULD THE FED HAVE BEEN LINED UP FOR TODAYS PLUNGE??? Clearly people knew this was going to happen today.
stealin the ira's
"Wow, there's some odd stuff going on," said one broker.
http://www.guardian.co.uk/business/2011/aug/08/stock-market-turmoil-us-d...
Poll:
http://www.guardian.co.uk/commentisfree/cifamerica/poll/2011/aug/08/s-p-...
Was S&7P right to downgrade US?
65.6% Yes 34.4% NoPoll closes in 2 days
EPIC PLUNGE my ass!
Ever hear of the pluinge in Oct 87 ?Over 20% vs 7% today.
probbly the type of guy who thinks 5 1/2 inches is a "Whopper" ! Freekin 'tard !
You've gotta be a bit sensationalist when you're running with the doomsday crowd.
"Eh, kind of a considerable drop: this may be a sign of things far worse to come." Doesn't work as well as: "OMFG MY ATOMS ARE BEING LIQUIDATED AND THE WORLD IS ENDING. ONLY GOLD CAN PRESERVE MY ATOMIC STRUCTURE; I HAVE A GOLD DOOMSDAY-PROOF PROTECTION SUIT THAT'S LINED WITH PLATINUM AND FURTHER LINED WITH SILVER! COME AT ME, BRO."
Spot on bro' ;)
You are Number 1, Frankie.
, here comes a -633.78 plunge in the DJIA, which is the 6th largest absolute point drop in Dow Jones Industrial Average history
Read the text. It doesn't say anything about percentage drop.
It's 7:00pm - does your planet know where you are?
hahahaha another pathetic robotroll wannabe, please tell me you are a buyer here so i can ridicule you endlessly lololololololol
You're in NY....Sodom and Gomorrah. After Ponzi collapse, group entitlement homeboyz will slice and dice and eat you.
I really thought QE would come today, but apparently it'll be tomorrow. Damn! I hate being premature.
This is Great Depression II. We are repeating the Great Economic Depression that started in 1929.
Gold and Silver will be treated as "real" money. Both are now officially in direct competition with the US Dollar.
Expect huge gains in Silver soon as people seek safety in physical metals and realize how wide the ratio has
become. I also expect the government may step in and try to "contain" the competition with it's Fiat Paper.
It's obvious that Silver was held back from moving up with Gold. This intervention will soon unravel as physical
Silver disappears. This will force the government to step up to the front and manipulate Silver as well as Gold
instead of hiding behind their lackeys while they manipulate it with monetary support of the government.
As stagflation sets in the government will act to support falling prices of products as well as instituting price controls
on commodities. In short, just read the history of the Great Depression because we are living it all over again.