Asian stocks.... down sharply...

[BuckNaked]

As of 9:20 PM PST

http://finance.yahoo.com/intlindices?e=asia

^HSI Hang Seng 12,321.04 12:04AM ET Down 490.53 (3.83%)
^N225 Nikkei 225 7,271.90 Mar 1 Down 296.52 (3.92%)
^KS11 Seoul Composite 1,019.37 12:00AM ET Down 43.66 (4.11%)

Seems like everytime Asian markets are hammered, US stocks up, but don't expect it today...

ETA: Futures have the Dow below 7,000...

 

[thegimp03]

Oh boy...can't wait for tomorrow...

 

[GTaudiophile]

6K here we come!

 

[Slew Foot]

The Nikkei was at 38,000 in 1989, currently at 7200.

That's your future folks.

 

[Hacp]

I hope this week is a bad one. Two more bad weeks and I might muster up the courage to put some dough into an s&p index fund.

 

[SSSnail]

I'm cashing out everything. I know that's not helping, but it's not helping me.

 

[alien42]

down less than 5% is getting "hammered"?

srsly?

 

[Farang]

Originally posted by: alien42
down less than 5% is getting "hammered"?

srsly?

yes

 

[Darthvoy]

Originally posted by: Hacp
I hope this week is a bad one. Two more bad weeks and I might muster up the courage to put some dough into an s&p index fund.

i wouldn't put anything yet... unless you are willing to go long term...even then I don't think things will get as high as you think.

 

[miketheidiot]

not a good day, but nothing fro the record books either.


the sky is falling !!!111

 

[quest55720]

I am shocked that is not more. Obama has declared war on business in the US. I am just glad I put my money in safe stuff once Obama was nominated. I knew he would win and the markets would tank with his radical anti-business agenda.

 

[rchiu]

Originally posted by: Slew Foot
The Nikkei was at 38,000 in 1989, currently at 7200.

That's your future folks.

Yeah, I am sure Japan has become a third world country with mobs running around the street and children starving just because their stock dropped by 4/5.

 

[First]

Originally posted by: quest55720
I am shocked that is not more. Obama has declared war on business in the US. I am just glad I put my money in safe stuff once Obama was nominated. I knew he would win and the markets would tank with his radical anti-business agenda.

Makes no sense considering Dem presidents have seen markets perform better under their tenure than Republicans since the late 19th century, and that includes the last 50 years. Frankly, you'd have to be severely misinformed to believe the current policies are anti-business.

 

[StageLeft]

Originally posted by: alien42
down less than 5% is getting "hammered"?

srsly?

Yes, seriously, have you seen the market? Great chance we see sub 7k today.

I'm cashing out everything. I know that's not helping, but it's not helping me.

Hard to really criticize at that point. The same statements have been derided as stupid at 12k, 10k, 8k, and it's kept on falling.

I am also concerned that the US stock market is going to mirror the nikkei long-term. That stock market has been a horrific investment for decades. Buy in in 1989 and then, not even accounting for inflation, you're down 80% two decades later? Fvcking sham.

I hope this week is a bad one. Two more bad weeks and I might muster up the courage to put some dough into an s&p index fund.

Don't bother. Any rebound is going to be modest. This economy and stock market are hammered, I would not rush into the S&P. Even if it's ultimately a decent long-term investment, why buy in two weeks? There are no indicators the market should go up. The only time it's rallied lately is after some vague talk by various government people and it lasts a day or so.

Yeah, I am sure Japan has become a third world country with mobs running around the street and children starving just because their stock dropped by 4/5.

You said it, not he. He's talking about the future of the US stock market.

 

[fleshconsumed]

And there it is, DJI opens under 7K. Officially worth 50% from its high point of 14K couple of years back.

 

[StageLeft]

Originally posted by: fleshconsumed
And there it is, DJI opens under 7K. Officially worth 50% from its high point of 14K couple of years back.

Your post was outdated before you hit reply, just as mine is. It's about to hit 6900.

And, all we see, bad news everywhere economically. I think the stock market is still overpriced even at 7k.

 

[Slew Foot]

Originally posted by: rchiu

Originally posted by: Slew Foot
The Nikkei was at 38,000 in 1989, currently at 7200.

That's your future folks.

Yeah, I am sure Japan has become a third world country with mobs running around the street and children starving just because their stock dropped by 4/5.

Where the heck did I say that? Learn to read doofus.

 

[JS80]

Originally posted by: rchiu

Originally posted by: Slew Foot
The Nikkei was at 38,000 in 1989, currently at 7200.

That's your future folks.

Yeah, I am sure Japan has become a third world country with mobs running around the street and children starving just because their stock dropped by 4/5.

 

[Zebo]

Originally posted by: SSSnail
I'm cashing out everything. I know that's not helping, but it's not helping me.

Why cash out? You can bet to lose. UltraShort S&P500 ProShares (SDS) is where it's at. A margined (double short) S&P short fund.

I think this economy is going to hell in a hand basket - gets worse day by day so I put in Friday.

Obviously this is not advice -past gains not indicative of future performance and all that jazz.

There are other Doublee short FTF's too.

PSQ SHORT QQQ, DOG SHRT DOW30, MYY SHRT MC400, QLD ULTRA QQQ, SSO ULTRA, DDM ULTRA DOW30, MVV ULTRA MC400...

 

[ponyo]

Originally posted by: Zebo

Originally posted by: SSSnail
I'm cashing out everything. I know that's not helping, but it's not helping me.

Why cash out? You can bet to lose. UltraShort S&P500 ProShares (SDS) is where it's at. A margined (double short) S&P short fund.

I think this economy is going to hell in a hand basket - gets worse day by day so I put in Friday.

Obviously this is not advice -past gains not indicative of future performance and all that jazz.

There are other Doublee short FTF's too.

PSQ SHORT QQQ, DOG SHRT DOW30, MYY SHRT MC400, QLD ULTRA QQQ, SSO ULTRA, DDM ULTRA DOW30, MVV ULTRA MC400...

I'm getting more bullish and think the economy is bottoming out short term. The stocks of homebuilders are up around 15% from last November lows. I say the short trade has about 800 point upside vs 2000 point downside. That's not favorable odds IMO. I would not press the short side bet here. I would look at closing short positions and scan for stocks to go long.

 

[Zebo]

Originally posted by: Naustica

Originally posted by: Zebo

Originally posted by: SSSnail
I'm cashing out everything. I know that's not helping, but it's not helping me.

Why cash out? You can bet to lose. UltraShort S&P500 ProShares (SDS) is where it's at. A margined (double short) S&P short fund.

I think this economy is going to hell in a hand basket - gets worse day by day so I put in Friday.

Obviously this is not advice -past gains not indicative of future performance and all that jazz.

There are other Doublee short FTF's too.

PSQ SHORT QQQ, DOG SHRT DOW30, MYY SHRT MC400, QLD ULTRA QQQ, SSO ULTRA, DDM ULTRA DOW30, MVV ULTRA MC400...

I'm getting more bullish and think the economy is bottoming out. The stocks of homebuilders are up around 15% from last November lows. I say the short trade has about 800 point upside vs 2000 point downside. That's not favorable odds IMO. I would not press the short side bet here. I would look at closing short positions and scan for stocks to go long.

Dream on. Read the news more banks are failing, more jobs are being cut, and more retarded policies are originating out of Washington. All indicators except a couple outliers are getting worse and has no place to land yet and commercial RE is going to make residential seem tame. 3000 by summer easy if not worse.

 

[ponyo]

Originally posted by: Zebo

Dream on. Read the news more banks are failing, more jobs are being cut, and more retarded policies are originating out of Washington. All indicators except a couple outliers are getting worse and has no place to land yet and commercial RE is going to make residential seem tame. 3000 by summer easy if not worse.

It's always darkest before dawn and the fiercest rallies occur in the context of a bear market. You can keep pressing your short if you want but I would advise you close them out if and when S&P 500 hits ~600 level. That's my all-in trading buy in point and there's bunch of traders like me waiting for that level to jump in. The reversal could be fast and furious and you might get your head chopped off.

 

[JSt0rm]

Originally posted by: Naustica

It's always darkest before dawn and the fiercest rallies occur in the context of a bear market. You can keep pressing your short if you want but I would advise you close them out if and when S&P 500 hits ~600 level. That's my all-in trading buy in point and there's bunch of traders like me waiting for that level to jump in. The reversal could be fast and furious and you might get your head chopped off.

Why not invest in movies until that happens? During the great depression movies were huge but so far in this one because all the studio's are owned by mega conglomerates its all grinding to a halt. It a great time to invest because cash is king and there are TONS of deals to be had.

 

[Zebo]

I'll close them out if good news starts appearing. Too much shit yet to hit fan.

-layoffs and ripple effect as loss of tax revenues hit the states and municipalities.
-Commercial RE
-Resets of ARM's
-Jobless claims worse every month
-more banks to fail because of that after people chew though savings
and so on... and you can think this is just a recession all you want see you in summer.

 

[StageLeft]

Zebo's list among others are why this economy is nowhere near a bottom yet. Stock market? Who freaking knows, calling that it appears nobody can do, but calling a duck a duck is not hard, and this economy truly is still getting screwed hard.