The Stock Market... watch this (here it comes)

[CitadelGrad]

If it makes anyone feel any better someone I'm very close to just put in a leveraged short order for $10 million.

He's just an individual - not an institutional investor either.

That's how serious investors are viewing this.

He sounds more like a trader rather than investor. Anyway, he should be very careful. It's smarter to trade the trend than anticipate a trend. There's enough ambiguity in the charts at this point that he could easily be wrong.

[danefan]

If it makes anyone feel any better someone I'm very close to just put in a leveraged short order for $10 million.

He's just an individual - not an institutional investor either.

That's how serious investors are viewing this.

He sounds more like a trader rather than investor. Anyway, he should be very careful. It's smarter to trade the trend than anticipate a trend. There's enough ambiguity in the charts at this point that he could easily be wrong.

yes, you're right - he's a trader. And despite the monstrosity of the numbers and the pretty gutsy (or crazy depending on how you look at it) trade today, he's usually a pretty conservative investor across the board. He's just got a ton of "play money" to lose without feeling the least bit of a hickup.

[Skjellyfetti]

June 29: (pretty much a copy and paste of your doom and gloom from 3 weeks earlier )

The S&P 500 is banging away at the 1040 support level. If it breaks through, the next significant support level is around 870. Go short or cash, bitches. Seriously. All the technical indicators look like ****. It appears that all the major indexes gapped below their 200-day moving averages today, as well. This is looking really bad.

June 4:

You better stay in bonds or anywhere other than equities. Support is getting tested in a big way. If it drops below 9900, it could go back to around 8100. That's where the next significant support level is. Not saying that will happen, but we are dangerously close to seeing it happen.

May 25:

I told my parents to sell about three weeks ago. Every technical indicator showed that the market was overbought. I'm not sure if they listened.

April 13 (said with sarcasm):

Oh wow, the Dow is at 11,000. I guess we no longer have to worry about inflation, the declining dollar, high unemployment or the soaring deficit anymore. I'll sleep much better tonight knowing that the stock market is overvalued again. Happy days are here again.

You've been consistently preaching a significant drop in the stock market for about 4 months. I couldn't find one positive comment from you. You sound like a pessimistic c u n t.

[93henfan]

He's just got a ton of "play money" to lose without feeling the least bit of a hickup.

But he probably cries like a little bitch when he has to pay his fair share of taxes, right?

[Chizzang]

You've been warned...
Just have your money somewhere else by October

[houndawg]

Only a sucker stays in a rigged game.

[CitadelGrad]

June 29: (pretty much a copy and paste of your doom and gloom from 3 weeks earlier )

The S&P 500 is banging away at the 1040 support level. If it breaks through, the next significant support level is around 870. Go short or cash, bitches. Seriously. All the technical indicators look like ****. It appears that all the major indexes gapped below their 200-day moving averages today, as well. This is looking really bad.

June 4:

You better stay in bonds or anywhere other than equities. Support is getting tested in a big way. If it drops below 9900, it could go back to around 8100. That's where the next significant support level is. Not saying that will happen, but we are dangerously close to seeing it happen.

May 25:

I told my parents to sell about three weeks ago. Every technical indicator showed that the market was overbought. I'm not sure if they listened.

April 13 (said with sarcasm):

Oh wow, the Dow is at 11,000. I guess we no longer have to worry about inflation, the declining dollar, high unemployment or the soaring deficit anymore. I'll sleep much better tonight knowing that the stock market is overvalued again. Happy days are here again.

You've been consistently preaching a significant drop in the stock market for about 4 months. I couldn't find one positive comment from you. You sound like a pessimistic c u n t.

The thing that seems to have gone over your head is that I was right. When I spotted the double top in May and told my parents to get out of the market, the market immediately saw a precipitous decline. It ain't gloom and doom when you're right.

[AshevilleApp]

Got my quarterly statement for my 401K yesterday. Lost 11%.

[Chizzang]

Got my quarterly statement for my 401K yesterday. Lost 11%.

and I can assure you all 11% went into the pocket of a fund manager..!!!






They tend to bonus themselves

[Grizalltheway]

Got my quarterly statement for my 401K yesterday. Lost 11%.

and I can assure you all 11% went into the pocket of a fund manager..!!!






They tend to bonus themselves

Saw a very interesting interview regarding hedge funds (if that's what you're referring to) last night. The people who manage them are disgustingly wealthy, but you can't really fault them for taking advantage of how the system is set up. At least they aren't destroying ecosystems in pursuit of profit...

[CitadelGrad]

and I can assure you all 11% went into the pocket of a fund manager..!!!






They tend to bonus themselves

Saw a very interesting interview regarding hedge funds (if that's what you're referring to) last night. The people who manage them are disgustingly wealthy, but you can't really fault them for taking advantage of how the system is set up. At least they aren't destroying ecosystems in pursuit of profit...

How do you know? They might be investing in companies that are doing ecological damage. George Soros (Obama's real employer) is heavily invested in foreign companies that have large offshore drilling operations around the world.

[Chizzang]

Saw a very interesting interview regarding hedge funds (if that's what you're referring to) last night. The people who manage them are disgustingly wealthy, but you can't really fault them for taking advantage of how the system is set up. At least they aren't destroying ecosystems in pursuit of profit...

How do you know? They might be investing in companies that are doing ecological damage. George Soros (Obama's real employer) is heavily invested in foreign companies that have large offshore drilling operations around the world.

The RULES of Free Market Capitalism are simple...
And one of them is: Take advantage of the system

and no you certainly can't "blame them" in fact we must congratulate them - that's the American Way

And Soros is absolutely Obama's Employer I like that... that's funny (and kinda true)

[Chizzang]

Harry says Republicans want economy to crash... (No sh!t Harry)
Get your money out before October



http://www.huffingtonpost.com/2010/07/1 ... 46090.html" onclick="window.open(this.href);return false;

[YoUDeeMan]

Harry says Republicans want economy to crash... (No sh!t Harry)
Get your money out before October



http://www.huffingtonpost.com/2010/07/1 ... 46090.html" onclick="window.open(this.href);return false;

Reid should know...it is right out of the Donk play book.

Senate Majority Leader Harry Reid (D-Nev.) said on Wednesday that Republicans want the economy to tank and hope jobs legislation fails so that Democrats will lose the midterm elections.

"They're betting on failure," Reid said of Republicans at a press conference Wednesday focused on measures to help small businesses. "They think that the worse the economy is come November, the better they are going to do election-wise."

Back before BO, the Donks wanted the economy and the wars to do poorly so they could win the White House. I remember Frank saying that the Democrats were going to get to work fixing things right after they win back the White House. How come the Dems did nothing to improve things when they had control of the Senate and the House?

Hey, in reality, we don't need to worry about the economy tanking...Barry has found where Bush hid the button for the price control of oil.

[Chizzang]

Harry says Republicans want economy to crash... (No sh!t Harry)
Get your money out before October



http://www.huffingtonpost.com/2010/07/1 ... 46090.html" onclick="window.open(this.href);return false;

Reid should know...it is right out of the Donk play book.

Senate Majority Leader Harry Reid (D-Nev.) said on Wednesday that Republicans want the economy to tank and hope jobs legislation fails so that Democrats will lose the midterm elections.

"They're betting on failure," Reid said of Republicans at a press conference Wednesday focused on measures to help small businesses. "They think that the worse the economy is come November, the better they are going to do election-wise."

Back before BO, the Donks wanted the economy and the wars to do poorly so they could win the White House. I remember Frank saying that the Democrats were going to get to work fixing things right after they win back the White House. How come the Dems did nothing to improve things when they had control of the Senate and the House?

Hey, in reality, we don't need to worry about the economy tanking...Barry has found where Bush hid the button for the price control of oil.

Agreed...
I don't really care about the "party affiliation" crap - I just want regular Americans to get out of the way

plus I think this administration did enough to tank it with the recent wall street reform

[CitadelGrad]

The Fed is tanking it with their admission that the economy probably won't recover for another 5 or 6 years. The Fed governors are now talking about buying more U.S bonds and beginning another round of quantitative easing. They actually said there is a real danger of deflation for the first time in a document released to the public. Them boys at the Fed is skeered.

[ATrain]

So IF the market goes back down to 8900 by October, is it going to keep dropping or will it be a good time to invest and take advantage of the next uptick?

[CitadelGrad]

So IF the market goes back down to 8900 by October, is it going to keep dropping or will it be a good time to invest and take advantage of the next uptick?

There's really no way of telling right now. If it does go down to 8900 by then, you can be pretty sure that economic conditions have deteriorated so rapidly the best we might hope for is a flat market. After 8900, the next significant support level is around 8100. Remember, after the crash of 1929, the DJIA did not reach 1929 levels again until 1952. That's kind of sobering, isn't it?

[ASUG8]

I did some serious rebalancing to my Fidelity account yesterday - I'm leaving my Ed Jones and 401K as they are for the time being.

[danefan]

I never rush to judgments on fridays until after 3:30pm. Crazy things seem to happen at 3:30 mark.

[danefan]

http://www.cnbc.com/id/38253735" onclick="window.open(this.href);return false;

The causes may have been different, but the collapse of the U.S. markets in early 2008 followed the same behavioral patterns as the collapse in 1929. The recovery pattern seen in 2010, is also very similar to that developed in 1930.

[houndawg]

http://www.cnbc.com/id/38253735

The causes may have been different, but the collapse of the U.S. markets in early 2008 followed the same behavioral patterns as the collapse in 1929. The recovery pattern seen in 2010, is also very similar to that developed in 1930.

Why do people stay in a rigged game where Wall Street bets against the instruments they sell you?

[CitadelGrad]

Why do people bet against their own investments? It's called risk management.

[houndawg]

Why do people bet against their own investments? It's called risk management.

True, but that's different question.

[CitadelGrad]

Why do people bet against their own investments? It's called risk management.

True, but that's different question.

It's precisely the same question, but you don't know enough about the subject to understand.

By the way, the right shoulder of the aforementioned is more than 50% complete. If the S&P 500 drops below 1020 and you're still in the market, you will have deserved to lose your ass.