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

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What a bloodbath today. If there was any real doubt about going into a double dip, it's getting erased quickly. Obummer starts talking again, and bam, the market heads down even further.
 
dmcowen674 said:
3:15 down 350

Some gutsy ones with bottomless pockets are buying big
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Holy fvcking spam! Are you retarded? All of this is on the internet; all the charts are historically maintained down to the minute. Stop posting. It's not like you have a nickel in the stock market anyway, good grief.
 
PokerGuy said:
What a bloodbath today. If there was any real doubt about going into a double dip, it's getting erased quickly. Obummer starts talking again, and bam, the market heads down even further.
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We never even "dipped". We delayed the pain with the secret loans, bail outs, etc.

A REAL correction is probably in the works.
 
In the short term nothing will change until the price of gas drops, and that probably won't happen.

This ecomony isn't built for $4 a gallon gas and is slowly being eroded by it. Or maybe not so slowly.

We're in for a long haul.
 
Via said:
In the short term nothing will change until the price of gas drops, and that probably won't happen.

This ecomony isn't built for $4 a gallon gas and is slowly being eroded by it. Or maybe not so slowly.

We're in for a long haul.
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Oil has dropped nearly 20% in the last two weeks...my gas prices have dropped a whopping 2%. Of course, if oil had risen 20% in two weeks, my gas would have followed it up the very next day.

I've said it before...high gas broke finally broke our backs in 2007/2008 and it did it again...that and the fact that we have crumbled the foundation of middle class/lower class good, wealth creating jobs by offshoring every fucking thing in site. Good job investor class...good job! :thumbsdown:

As for the market, I'm about to throw my hands up and just quit. Over a decade of stagnation of the market is telling me that we are becoming the new Japan. At this point, what's the point other than losing money.
 
Engineer said:
Oil has dropped nearly 20% in the last two weeks...my gas prices have dropped a whopping 2%. Of course, if oil had risen 20% in two weeks, my gas would have followed it up the very next day.

I've said it before...high gas broke finally broke our backs in 2007/2008 and it did it again...that and the fact that we have crumbled the foundation of middle class/lower class good, wealth creating jobs by offshoring every fucking thing in site. Good job investor class...good job! :thumbsdown:

As for the market, I'm about to throw my hands up and just quit. Over a decade of stagnation of the market is telling me that we are becoming the new Japan. At this point, what's the point other than losing money.
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Just looking at gas prices around town the last two weeks no one would have guessed what's happening with oil and the rest of the market. Went from 116.x to 114.x.
 
You can always tell who the reactionaries are on days/weeks like this. We heard this same sky is falling nonsense in late 2008/early 2009 and the end result was one of the largest and fastest market recoveries in history.
 
First said:
You can always tell who the reactionaries are on days/weeks like this.

We heard this same sky is falling nonsense in late 2008/early 2009 and the end result was one of the largest and fastest market recoveries in history.
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and it has all been lost.
 
dmcowen674 said:
With the dollar cut in half that will make oil $200 and gas $10 but they will switch to another currency before that happens.
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Wait is it speculators or the value of the dollar that determines oil prices? With you, it's probably whatever can get you there.
 
Originally Posted by dmcowen674
With the dollar cut in half that will make oil $200 and gas $10 but they will switch to another currency before that happens.

CPA said:
Wait is it speculators or the value of the dollar that determines oil prices? With you, it's probably whatever can get you there.
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What does it matter? Its certainly not supply and demand.
 
dmcowen674 said:
CPA said:
dmcowen674 said:
CPA said:
But what's this going to do to your Drive for Five prediction?
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With the dollar cut in half that will make oil $200 and gas $10 but they will switch to another currency before that happens.
Click to expand...
Wait is it speculators or the value of the dollar that determines oil prices? With you, it's probably whatever can get you there.
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Originally Posted by dmcowen674
With the dollar cut in half that will make oil $200 and gas $10 but they will switch to another currency before that happens.



What does it matter? Its certainly not supply and demand.
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it's weakness/strength of the USD vs emerging markets fellas. No sense selling to US for $96/barrel when somebody else is wiling to pay y-amount of yuan for the same barrel, and y-amount is > $96 when converted.
 
First said:
You can always tell who the reactionaries are on days/weeks like this. We heard this same sky is falling nonsense in late 2008/early 2009 and the end result was one of the largest and fastest market recoveries in history.
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Wasn't it you and LegendKiller who said the sky was falling? Wasn't that why we had bailouts and stimuli? If the sky wasn't falling why was it necessary to prop the sky back up?
 
From commentary I've seen recently, it sounds like this has been a buyers strike because big players can't figure out what is going on (this is what JP Morgan chief U. S. strategist said today).

High frequency trading obscuring market transparency and then stepping away when markets are in free fall may be to blame.

If so, perhaps a vicious, rip your face off, snap back rally is in the cards in near future (?)
 
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mshan said:
From commentary I've seen recently, it sounds like this has been a buyer's strike because big players can't figure out what is going on (this is what JP Morgan chief U. S. strategist said today).

High frequency trading obscuring market transparency and then stepping away when markets are in free fall may be to blame.

If so, perhaps a vicious, rip your face off, snap back rally is in the cards in near future (?)
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That or it's people thinking we're going into a double-dip recession with no reason to have overvalued stocks.
 
spidey07 said:
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%
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That's sooooo lame. Treasuries & the market are moving in opposite directions. Investors are fleeing to liquidity & safety in treasuries, which have incredibly low yields as a consequence.

The market is having a Wiley Coyote moment- when they realize that growth prospects are horrible, and that Repub induced austerity will only make that worse.

Got cash? Hold onto it, because it's getting more valuable by the minute. Next up on the Ownership Society hit parade aftermath, a debt/deflation spiral and a liquidity trap, the natural consequences of the greatest credit bubble in the history of finance... Reinforced with Austerity! Spending Cuts! Smaller Government!

It's all Obama's fault, of course. Righties need somebody, anybody to blame other than themselves and their ideology of failure.
 
BoberFett said:
Wasn't it you and LegendKiller who said the sky was falling?
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You consistently have awful memory. Link?

Wasn't that why we had bailouts and stimuli? If the sky wasn't falling why was it necessary to prop the sky back up?
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Kind of a nonsensical question since that's part of the reason sane people have confidence in this system; the checks and balances against political whim and overly private or public solutions to much more granular problems. The ability to direct infuse trillions of dollars into banks, FDIC insure them (and threaten to have the FDIC audit banks that don't comply), etc. are all goods checks on un-restrained greed. And all things Paulson did in the aftermath of Lehman. Not that we couldn't have used more proactive financial strong-arming before Sept. 2008 but Americans (well, humans) tend not to believe certain things will fail and collapse until they see them fail and collapse.
 
Jhhnn said:
Got cash? Hold onto it, because it's getting more valuable by the minute.
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Fed forced to consider fresh 'stimulus'...

Yes... a printed and destroyed currency is good to 'hold onto' cause it's 'getting more valuable'. That is unless you live in reality, where prices are rising due to YOU and your god damn government spending and printing of money. You think it grows on trees or something, and you can manipulate it however you want with no care or concern for how much you hurt people.
 
Ahhhh what a fun day. Personal favorite moment is the client who decided last week was a great time to sell puts through his discount brokerage account....to the tune of $80,000 lost!

Some people just need to stay out of the markets entirely
 
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