Dow Down 350Pts, VIX Tops 35, Nasdaq Enters Correction

Still not over...

The Dow is back below yesterday's lows, down 350 points on the day

 

And NAsdaq is down 11% from its highs - entering correction...

 

Comments

overbet NihilistZerO___ Fri, 02/09/2018 - 12:37 Permalink

Earnings are a debacle. Expectations to earn $.50 and theyre coming in earning $5.00. One time thing, but analyst, actually not even the companies themselves know how to accurately forecast these tax change impact. One time tax on money being brought back into the country. How much are they bringing back half, all, some. What will that liability be? Where will they put it? Buybacks, acquisitions, special dividends.

Between the recent research fee changes and the now inability to forecast the future with much accuracy, the job of wall street analyst has become very much worthless. 

In reply to by NihilistZerO___

Bemused Observer NihilistZerO___ Fri, 02/09/2018 - 13:35 Permalink

How much extra money do you think most people will have after these tax cuts?

And why do you think the extra will be spent on consumption?

I think you are grossly overstating the consumer effect (most have such high debt loads it is more likely it would go to paying down existing debt than making new purchases.) And I don't think people will see such a big increase that they'll want to go on a shopping spree.

In reply to by NihilistZerO___

NihilistZerO___ Bemused Observer Fri, 02/09/2018 - 14:35 Permalink

You don't need a "shopping spree" to increase corporate earnings. IE if a large chunk of a community of 200k is getting a minimum $40 a week take home increase it is reasonable to assume that they will eat out more or spend more at retail. Your thesis of tax cut dollars only going to debt is counter intuitive. Americans who cavalierly increased their debt now have the discipline to devote all new funds to debt payments?

In reply to by Bemused Observer

takeaction overbet Fri, 02/09/2018 - 12:25 Permalink

Buy buy buy....and while you are at it BTFD...then buy some more.  This is the dip we have been waiting for to get "ALL IN"....go go go ...just do it...

.

and its gone... oops.

.

What a great day it will be if we end up with another 1000+ down day.  Oh boy.  Why do I sit here wishing for this?  

In reply to by overbet

Squid Viscous Fri, 02/09/2018 - 12:22 Permalink

thank god we stopped that gov't shutdown with 300 billion per annum of more guns and butter,

fucking clowns,

i was fantasizing about chucking a grenade into the Senate pit, while watching CSPAN

last night, Schumer, Pelosi, Blumenthal, Durbin and that little troll from Washington state, were all within 10 feet of each other,

guess it would be hard to smuggle one in there, maybe go with plastic explosives like Karl from Caddyshack?