8/8 Stock Market thread *EDIT* Lets watch what happens 8/9 now

[OCGuy]

or the $7 milk?

Or the Earthquakes?

 

[dmcowen674]

2:13

dow down 420

Nasdaq down 126

S&P down 60

Oil down $3.40 to $83.53

Gold soaring to over $1719

 

[dmcowen674]

But what's this going to do to your Drive for Five prediction?

With the dollar cut in half that will make oil $200 and gas $10 but they will switch to another currency before that happens.

 

[spidey07]

LOL! Every time obama opens his mouth the market tanks. He said in an address just now - "markets still believe in US creditworthiness", what did market do? Tank another 100 after his words.

-467 (4&#37. It was ticking back up until he was almost an hour late to the address. He still doesn't get it.

S&P down over 5%

 

[the DRIZZLE]

LOL! Every time obama opens his mouth the market tanks. He said in an address just now - "markets still believe in US creditworthiness", what did market do? Tank another 100 after his words.

-467 (4%). It was ticking back up until he was almost an hour late to the address. He still doesn't get it.

S&P down over 5%

The guy is a walking natural disaster. We should start calling him Katrina Obama.

 

[dmcowen674]

2:20

dow down 480

Nasdaq down 138

S&P down 65

 

[sunzt]

Ironically, T-bill yields are at their lows

 

[her209]

-562

 

[nageov3t]

The guy is a walking natural disaster. We should start calling him Katrina Obama.

Katrina Obama?

 

[Blackjack200]

Ironically, T-bill yields are at their lows

People pull their money out of equities and put it into cash-equivalent funds. Where do you think the cash-equivalent fund managers are putting it? US Treasuries are still the most liquid and lowest risk investment in the world.

 

[dmcowen674]

8-8-2011

http://finance.yahoo.com/news/SampP...icmVha2luZ05ld3MEc2xrA3NhbXBwbmFzZGFxbA--?x=0

&P, Nasdaq Lose 5%: Stocks Hit Session Lows After Obama Addresses Downgrade

Obama Calls U.S. AAA Nation Despite AA+ Rating

S&P downgrades Fannie and Freddie, farm lenders and bank debt backed by US government

http://finance.yahoo.com/news/Obama-calls-US-AAA-nation-apf-1644365187.html?x=0
Stocks plunged further after the downgrades. The Dow Jones industrial average fell more than 400 points, or more than 3.7 percent. The S&P 500 stock index tumbled more than 4.7 percent.

 

[Macamus Prime]

I guess this means the financial industry will take another bail out from poor toothless and tired Uncle Sam.

And a few more wars should even things out for America.

Oh, and cut every social program out there - even schooling. Heck, deregulate everything out there. Let utilities charge whatever they want.

Also, allow corporations to enslave human beings - that way, they won't have to pay those stupid wages ever again!

 

[dmcowen674]

2:27 down 595

 

[Infohawk]

 

[Mermaidman]

Who has the balls to buy in now and then gloat about his profits in a couple years?
(Or at least claim he did.)

 

[dphantom]

lol true today.

 

[Imp]

Made it to -600, then came back to -500 a few minutes ago. It's going to be a loooooong hour to 4pm.

Wonder if we'll break last Thursday.

 

[dmcowen674]

8-8-2011

http://news.yahoo.com/p-equity-cuts-berkshire-hathaway-target-price-165306180.html

Standard & Poor's cut its ratings outlook on Warren Buffett's conglomerate Berkshire Hathaway to "negative"

S&P downgraded five insurers to "AA+" from "AAA," as it had warned it would do: Knights of Columbus, New York Life, Northwestern Mutual, TIAA and USAA.


But it also unexpectedly revised the ratings outlook on five insurers already rated "AA+" to "negative" from "stable," among them Berkshire and bond insurer Assured Guaranty.

 

[njdevilsfan87]

Who has the balls to buy in now and then gloat about his profits in a couple years?
(Or at least claim he did.)

14,000 to 6,500 isn't exactly a distant memory for many. You could probably try to play some shorts, but hell no would I be going long on anything paper after the shit-storm our congress just got us into. Gold is about the only thing I'd feel comfortable with at this point.

In America I no longer trust. Let's all play the blame game now while we fall into the next recession starting at a 9% unemployment.

 

[Jaskalas]

Why does S&P hate America? :'(

 

[dmcowen674]

8-8-2011

http://finance.yahoo.com/blogs/brea...dpbGxyaXNl?sec=topStories&pos=7&asset=&ccode=

Nenner:Gold Is Heading to $2,500, no reason to hold stocks



It's going to $2,500 an ounce. "Our long term price target is two-and-a-half thousand," he says

Nenner flatly says there's no reason why you should be long stocks.

 

[OCGuy]

If you are young, time to start eyeballing some bargains.......

 

[dmcowen674]

Why does S&P hate America? :'(

I told you.

They are no longer an American company, they have a vested interest in seeing the U.S. crushed.

That should tell you exactly why this is happening all by design and plan.

 

[senseamp]

8-8-2011

http://finance.yahoo.com/blogs/brea...dpbGxyaXNl?sec=topStories&pos=7&asset=&ccode=

Nenner:Gold Is Heading to $2,500, no reason to hold stocks



It's going to $2,500 an ounce. "Our long term price target is two-and-a-half thousand," he says

Nenner flatly says there's no reason why you should be long stocks.

Not sure about Gold, but dow is heading back to 8000, IMO
That said, I am in cash, not dow puts, so what do I know
Gold is purely a panic play at this point. Oil is falling, so I don't think inflation is too big of a concern.

 

[CADsortaGUY]

Why does S&P hate America? :'(

clearly Wall Street is racist...