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Third Biggest Weekly DJIA Drop In History
A dearth of knife-catchers and bottom-callers suggests that our views on a broad swathe of investors being caught unhedged and offside by Bernanke's relative inaction was correct. By the look of today's huge selloff, investors will become increasingly aware of our recent post on the difference (risks) between owning stocks and bonds. The equity market remains a market in chaos as the following charts show. We can only assume they must be extremely good at discounting whatever it is that talking-heads believe on a tick-by-tick basis - just look at the flip-flopping in the last two months (and in 2008/09).
Daily Changes in the DJIA:
And weekly changes in the Dow - this last week is almost a 4 standard deviation move and third largest ever (with 9/11/01 and 10/03/08 the only two larger in absolute size!).
Chart: Bloomberg
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Comparing absolute point moves in the Dow from 30 years ago to today is just silly.
Why even bother to make a chart, if you can't be troubled to convert the moves to percentage or log changes?
If you're gonna lie with statistics, you really need to be a bit more sophisticated about it.
awwwwwwww, somebody got their longs torched... waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa....
point comparisons are made all the time (first time in history four 400 point swing days on the dow, etc). bitter little monkey is bitter. waaaaaaaaaaaaaaaaaaaaaaaaa
I said nothing about market direction, dipshit.
Markets were far more volatile in the 1930s than today -- percentage-wise, not point-wise.
ditto!
3 minutes to go green
i am mildly surprised it didn't
When will the masses who own 401K and pensions start to panic?
i'd be interested in seeing the PERCENTAGE move this week compared with history instead of the point move. Would be more relevant. Esp re 4 STD comment.
4000 TZA. Oh yeah!
Long neutrinos
Make mine a tau....
Lucy in the Sky with Neutrinos. We're outta here, dude. Next stop Andromeda.
Hey, keep away from those other parti...
The tremors of an earthquake.
http://www.youtube.com/watch?v=_vKxhqSJvPk
"It's all part of the plan."
In todays markets,this sounds very bullish.
Dumb FuckTards....(PPT)
Plenty of continued USD strength ahead. The AUDUSD has fallen hard but has just pulled back some, which offers an opportunity to join the downward trend. AUDUSD Market Report http://bit.ly/rr0vEZ
It must be easier to call these events when there is no upside. I never trusted anyone who spent more for lunch, than I made in a week. The talking heads on TV would cut my throat to save their own hides. That's why I didn't get interested in speculation and unloaded my 401(k) at my earliest opportunity. The basic rule for me was to never put myself at the mercy of a suit and tie. That's my pessimistic rant for today, and I'm sticking to it. With the financial news of the day, I just had to write a sequel to
“War Of The Money Worlds”
The boys are a little testy, this week.
http://georgesblogforum.wordpress.com/2011/09/22/war-of-the-money-worlds...
Derivatives clearly have a stabilizing effect on the markets. Just look at that long term chart! Greenspan, Rubin and Summers are obviously geniuses... much smarter than that idiot, Brooksley Born.
PS Thanks you guys for running the United States into the ground as efficiently as possible. Nobody could have done it better. And Brooksley, just remember, ladies are meant to be seen and not heard.