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

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Dow dump for the day down 389

Nasdaq down 105

S&P down 46

Oil still at $97 - Gas prices have been rising 5 to 15 cents every night

Regular - Chicago now $4.69 to $4.89 Suburbs $3.75 to $3.99

Gold down 25 to 1775
 
Munky said:
If by "market" you mean the HFT algos passing liquidity back and forth on rumors and mere expectations of a rumor, then none of this should be a surprise.
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While I agree with you on the HFT scam, today was about Italy's bond rates hitting the "magic" 7% number. Europe be fucked, we be next. Just sit back and enjoy the ride.
 
Am I the only one who sees this as massive market manipulation by the big guys. They (with their microsecond transactions) always make money on market movements-up or down, so long as it goes on for a while.

After all the entire world was tied in knots with worry about Greece for weeks. Greece represents 3% of the European economy. Immediately after the Greek problem was "resolved" (and it really isn't) Italy moves to the forefront.

When Italy is done that will be about the time of the supercommittee deadline (11/23), time for a good old USA debt crisis redux.
 
UGA, (US Gasoline Fund) is right at the halfway point between the low of the year, and the high of the year. But it is still 50% (!) above where it was when QE2 was announced. UGA has formed a bullish flag. The market is clearly anticipating some kind of QE3. Nowhere is this more evident than with oil/gasoline.

Oh, posting this to gloat:

sm625 said:
And almost all of QE2 comes off in 5 days. Funny that. What's really funny is that the stock market is still up 10% over a year ago. Based on absolutely nothing. Technically though, for those with giant brass balls now is the time to buy.
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Dave was much too busy Monday (when Dow jumped 291 points, 2.6&#37😉 or today (currently up 400 points) to comment.

He's the guy who only goes outside when it's raining and then claims the weather here is always terrible.
 
Don't worry McOwned will be in to post that oil is over $100/bbl and gas in Chicago has jumped $0.50/gal in the past couple of hours. He will also post a link they shows ebil Republicans are driving the Dow skywards and reaping the profits.
 
HendrixFan said:
No update for us today? I'm really curious how the market looks right now.
Click to expand...

Oil is over $100.

Gas in Chicago has jumped 44 cents in the past couple of days.

Rich Republicans on here getting richer.

11-30-2011

http://finance.yahoo.com/news/centr...BzdGNhdANob21lBHB0A3NlY3Rpb25zBHRlc3QD;_ylv=3

U.S. Federal Reserve agrees to provide cheaper dollar funding to the European Central Bank

The new dollars have the potential to spark inflation-which could result in higher interest rates

2PM

DOW up 397 3.4%

Nasdaq up 80 3.3%

S&P up 38 3.2%

Gold up $32 1745 1.85%

Oil up over $100
 
Londo_Jowo said:
Don't worry McOwned will be in to post that oil is over $100/bbl and gas in Chicago has jumped $0.50/gal in the past couple of hours. He will also post a link they shows ebil Republicans are driving the Dow skywards and reaping the profits.
Click to expand...
Lmfao. Totally called it ^
 
Well it's official, the markets have gone from mostly to completely retarded. There's a major disconnect between equity movements and the macroeconomic environment.

But hey, so long as the global ponzi scheme is still in full swing, why not, right?
 
While I would argue that the late summer downturn and especially the serial crises in Europe are either a mark of irrationality or of market manipulation, I'm reminded of what John Maynard Keynes once said: "The markets can stay irrational longer than you can stay solvent."
 
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