What happened on Wall Street today?

[poptart]

10% drop in 7 minutes due to one @sshat typing B instead of M on a trade?

Seriously?

After twirling that around my head for ... about 4 seconds, I think ... no, that's not it.


PANIC selling due to Greece/Euro fears - market starts to tank - automatic sell systems large firms have in place begin to send massive SELL orders across the board - CRASH taking place.

But lo and behold, the markets regain their footing somehow, .. uh, sort of.

Very strange stuff.


Takes?

Scott?

Bueller?

Anyone?

[mvscal]

Yep.

And after Greece they better figure out how to save Portugal, Italy, Ireland and Spain.

...and us. Running trillion dollar plus deficits for the foreseeable future will put us in the exact same predicament.

[Dr_Phibes]

My take is that that the Euro may not be long for the financial world - if it is they may kick a few members out.

You could have said that a week ago, but not now I think - when Germany committed it showed that they're in it for the long haul, that was a decisive decision. Whatever happens, the euro isn't going anywhere soon.

[Shlomart Ben Yisrael]

...Der Staatsbürger

Cooking Forum, please.

[Dr_Phibes]

The whole continent doesn't need bailing out. Germany showed that the political will was there, that's what was needed as it was always up in the air - everyone else will fall into line, they haven't got a choice at this point. The idea of anyone getting kicked out of the EU is ridiculous, public opinion aside. The whole thing would come crashing down.

[War Wagon]

decisive decision.

Did you really type that?

reckon I'll give you a pass for your work here lately, but dude...

[poptart]

The idea of anyone getting kicked out of the EU is ridiculous, public opinion aside. The whole thing would come crashing down.

pssst ...

The "whole thing" is going to come crashing down anyway.

They can try to ni66er-rig things with some duct tape bailout stupidity, but a different and BIGGER bolt will shatter.

It's too far gone and the Euro's have been living beyond their means for decades now.

You can only hold off the bottom of the ninth for so long, Feebs.


Prediction: Pain

[smackaholic]

The idea of anyone getting kicked out of the EU is ridiculous, public opinion aside. The whole thing would come crashing down.

pssst ...

The "whole thing" is going to come crashing down anyway.

They can try to ni66er-rig things with some duct tape bailout stupidity, but a different and BIGGER bolt will shatter.

It's too far gone and the Euro's have been living beyond their means for decades now.

You can only hold off the bottom of the ninth for so long, Feebs.


Prediction: Pain

I think we are pretty much at the point all ready where we are gonna have to tell the T-billers to go fukk themselves. Butt, since they are all rich old white dudes, it's cool, right?

[missjo]

The world economies will never ever full recover as the financial institutions owe more money than is in the whole world!

[poptart]

Yes, pain WILL be felt by somebody(s).

BIG TIME pain.

Right now the overall strategy is to bleed the productive members of societies for as long as possible to try to band-aid the mortal wound.

But the sheeple are getting restless because they can feel that things just aren't right.
And they will get VERY restless when the standard of living bottom drops out and when entitlements that they've already paid for are diminished ... or eliminated altogether.

And prior to these things happening, any number of verrah bad "other shoes" can drop with potential to rip a whole lot of sphincters wide open.


It's gonna be pretty gosh dern awful when half the world population is flailing around like Star Wars Kid.

[Dr_Phibes]

And they will get VERY restless when the standard of living bottom drops out and when entitlements that they've already paid for are diminished ... or eliminated altogether.

Lets hope so



How far from the northern border are you?

[Shlomart Ben Yisrael]

How far from the northern border are you?

Poptart needs a little re-education at "Camp 22".

[Dr_Phibes]

Poptart needs a little re-education at "Camp 22".

[Shlomart Ben Yisrael]

"Okay, crass...no turn crank on Pentium 1 computer yet...Wait till I distribute Dear Leader froppy disk...we play Space Invaders..."

[Shlomart Ben Yisrael]

Way to go, Phibes.



Kim Jung Shitknuckle's technological revolution marches on.

[Mikey]

Must be an awesome N Korean technological advance. Cordless A/C power. They probably won't be sharing it with us, though.

[Dr_Phibes]

ah, class clown Kim Kyong Sun, always with the jokes you little scallywag

Beats plastic ostrich meat

[Shlomart Ben Yisrael]

mv will be around shortly to tell you what type of wine to serve with Photo-Op Chicken.

[mvscal]

Way to go, Phibes.



Kim Jung Shitknuckle's technological revolution marches on.

How about the monitor in the back. Is it still in the packaging?

[poptart]

I'm buying

You're kidding?

[poptart]

I got halfway out of the market in September '09.
Save for a couple bond funds, I got the other half out in January.

Bond funds taken out in March.

Sitting in all cash now.

I'd like to buy some gold or silver, but will wait for it to drop a bit.


I wouldn't be surprised to see the Dow jump back up 4 or 500 pts in the next week-or-two.

But I seriously doubt it'll get back up to 11,200 as before.

I see last week as the beginning of a pretty sharp decline.


jmo

[BSmack]

I'm buying

You're kidding?

The time to buy is when everybody else is freaking out. Scott will make some nice coin on the suckers who think the sky is falling. And, should the sky actually be falling, well your cash and your gold will be worthless anyway.

[poptart]

I'm not sure the consensus is that the sky is falling.
I think the majority of investors remain at least cautiously bullish.

Scott can make some coin if the market goes back up for a while, no doubt.
If he can time it, more power to him.

I don't trust that I can time it.

And, should the sky actually be falling, well your cash and your gold will be worthless anyway

This is funny.

And what do you imagine stocks will be worth if "the sky is falling?"

Take your time.

[BSmack]

And, should the sky actually be falling, well your cash and your gold will be worthless anyway

This is funny. And what do you imagine stocks will be worth if "the sky is falling?" Take your time.

If we really crap out and go all Beyond the Thunderdome with Max Max, it's not going to fucking matter. Until then, the market is a damn fine place to make some money.

[poptart]

the market is a damn fine place to make some money.

When it's going up, it is.

If it's tanking, it's a good way to get your teeth kicked in.

- Marcus



I think we've hit the top.

Rather hold cash at this point.

Do what you think is best for yourself.

[poptart]

Going short is also a gamble.

I only think the market is going down in the coming months.

I fully admit that it's possible that I'm wrong about that.

I'm just not willing to gamble now.

Holding cash looks to be the most safe and neutral thing at this point.


What I am waiting for is what I believe to be the market bottom, or relatively close to it.

Or ... a decline in gold or silver prices, at which time I'd feel good about buying into those.

[Shlomart Ben Yisrael]

Arcade gaming in North Korea



Welcome to 1985, N. Korea...

[Mikey]

Going short is also a gamble.

I only think the market is going down in the coming months.

I fully admit that it's possible that I'm wrong about that.

I'm just not willing to gamble now.

Holding cash looks to be the most safe and neutral thing at this point.


What I am waiting for is what I believe to be the market bottom, or relatively close to it.

Or ... a decline in gold or silver prices, at which time I'd feel good about buying into those.

I guess the economy is still with us, isn't it? Even though April is over.

Dow up 363 right now. Can you say "Market Manipulation"?

[smackaholic]

Market manipulation.

What do I win?

I agree with you, btw. I think the market has been run up and down on puprpose since that's the way the jews horsetrader scumbags make their cayshe.

A slow moving steady market means all these fukkers might have to sell 2 or 3 of their cottages in the hamptons.

[Mikey]

If they were short on "everything" last Thursday, I'd say there might be some cause for suspiscion.

"Oops...it worked a little better even than we hoped..."

[Goober McTuber]

One Mutual Fund in KC was responsible for 9% of the total volume traded in a 19-minute span. Considering the horrendous state of journalism these days, they may well have meant 9% of the volume traded 'of a kind of S&P futures contracts known as "e-minis."'

[poptart]

The volume of sales on that huge DOWN day makes it hard to believe that it was the result of one fat finger.

The wall street game is rigged, so I'm not really inclined to believe the "official" explanation for what happened.

Seems to me a large sell-off began and escalated - panic selling taking place - but something jumped in with a large amount of *buy* ordrers to save the day.

Disaster averted ... for the time being.

If you bought in, Scott, I hope you're ready to get out.

[poptart]

Nice little *hiccup*.

Sure we'll get back on the gravy train right soon.




:wink:

[poptart]

I wasn't really trying to go neener neener, Scott.
Just funnin' around, really.

And as far as the markets going down 3+% in a day, well, I think they'll gain most of that back next week.

But I do believe they're going down more - in the next weeks or months.

I think you know a LOT more than I do about market analysis.
Understand, I can't really have a detailed conversation about those things with you because I'm a dope who is basically ignorant to most of it.
That's the truth.
Don't expect much from me.

:)

I'm basing my predictions on overall economic and political enviornment.
And a little bit on some analysis I pick up.

You'll see yesterday's 350 pt. drop didn't break or even touch the lines I'm using.

OK, the lines you are using.
There are a lot of different ways that various people interpret the charts, and they all go off the same information.
It's not close to being an exact science.
It's gambling.
I'm going more off "feel" than you are.
Because I'm a rube.

haha

Enjoy!

[Dinsdale]

This is a good place to post my insights into this latest scam[/i] "financial crises."

The peons (that's us) of the world got worked... badly. It's the danger of the whole federal reserve/world bank bullshit, with rich men dictating how much you're worth at their whim.

I've mentioned before, part of my work involves dealing with foreclosed houses.

The banks said "we had to foreclose all these houses, and lost X trillions of dollars."

Complete horseshit, on many levels.

First, they didn't have to foreclose on anybody. They could have reworked deals, added payments to the backend of mortgages, and avoided the mess... but "corporate rules" and whatnot sure took away the concept that those people behind on their payments were actual human beings.

Second, while that whole revolving door of the mortgage bundles as commodities left some corporations holding the bag in musical chairs, the claims of "we lost 800 billion dollars are complete, unadulterated horseshit. I see this shit with my own eyes -- guess what? Those properties they forclosed... they didn't actuall;y go anywhere. While values dropped, they still own the shit... somehow, through all the banks' bullshit claims, this seems to have passed by the Average Joe.

They still own the houses... really... I deal with them every day. Of course, the rules of supply/demand dictate that if they tried to sell them all tomorrow, it would crash the real estate market, thus making their holdings worthless. Note, I said "holdings" -- they still have them.

What I see: They still have them. The sell them. When one sells, they immediately list another. And so on, and so on.

Sure, they tried to play a high-stakes game, and lost (due to stupidity in policy making). But those assets didn't go anywhere -- they still have every last one of them.

This whole concept seems to have flown over most peoples' heads.

It was a fucking SCAM, thanks to our new "global economy" (which is just a catch-phrase for worldwide corporatism), and was ENGINEERED so the rich got richer, and the poor got poorer.


Maybe it's the position I'm in, seeing it all day long, but when everyone bought into the "we need to help the banks," they got WORKED, and just bought up another huge chuck of global wealth-redistribution.


OK, I've said my peace/peese, as someone who gets a slight inside glimps into the huge scam. Seriously -- there was X amount of dollars in the world... where did they suddenly go one day? ... they didn't... they just got moved, away from you and I, and into the global scammers pockets.

[poptart]

when everyone bought into the "we need to help the banks," they got WORKED

Exactly right.

Help the banks = dildo got pushed 2 inches further north

More bailout attempts are going to be proposed (or demanded as necessary to save the world) as this financial crisis unfolds.

Worst possible solution because it costs the citizens and it doesn't SOLVE anything.

[mvscal]

First, they didn't have to foreclose on anybody. They could have reworked deals, added payments to the backend of mortgages, and avoided the mess...

But they did avoid the mess. They bought credit default swaps. They wrote these ridiculous loans almost daring people to default. There was no need or incentive for them to work with people. They just fucked them up the ass and billed the taxpayer for the drape cleaning.

[Dinsdale]

Worst possible solution because it costs the citizens and it doesn't SOLVE anything.

Depends where you sit.

If you're sitting on Wall Street, it's fucking BRILLIANT.

All a "bailout" is, is another worrd for "a new tax."

And any taxes beyond that of essentail services are nothing but stealing from Peter to pay (the already wealthy) Paul.


If the Average Joe wasn't so fucking stupid, this shit would have been laughed out of existence, since it's laughably ludicrous.

[Dinsdale]

First, they didn't have to foreclose on anybody. They could have reworked deals, added payments to the backend of mortgages, and avoided the mess...

But they did avoid the mess. They bought credit default swaps. They wrote these ridiculous loans almost daring people to default. There was no need or incentive for them to work with people. They just fucked them up the ass and billed the taxpayer for the drape cleaning.

Eloquent and accurate.


Being involved (albeit on the extreme periphery), it's so fucking obvious.

The Money Barons didn't control quite enough of the world's wealth, and they cooked up a scheme to control the rest... and the sheeple bought it, hook, line, and sinker.

It's a fucking TAX... just wrapped in a new package, and instead of giving your tax dollars to the disadvantaged, it's the "New Liberalism" -- they give it to the ultra-wealthy.

Kinda makes "old school liberalism" sound not-as-bad... but it was the natural progression of liberalism. What, you didn't think the Money Barons would capitalize on that? Really? It was a matter of time.

It's about time to blow the federal reserve up and start over, and anyone involved with the world bank should be l;ined up and shot... might teach a lesson to the Theives.

[Dr_Phibes]

It's a little obvious, but do you guys know what happens during a good old fashioned bank run? And what the consequences would be when it's all of them? The government threw just one to the wolves and you're still seeing the result of that.

No solutions here, just boring grumbling.