A little delayed, but the Obama crash is here.

redrumloa

redrumloa

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Have you looked at the stock market tickers later? :shock: :shock: :shock:

The market really is at nosebleed levels, not reason for it to be where it is. All hot air, which is getting deflated rather fast.
 
OMFG!!! DOW down 1,000??!??!? NASDAQ down 200??? :shock: :shock: :shock: :shock:
 
redrumloa said:
Have you looked at the stock market tickers later? :shock: :shock: :shock:

The market really is at nosebleed levels, not reason for it to be where it is. All hot air, which is getting deflated rather fast.
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It's Obama's fault that Greece is on the verge of default and sent the Euro into a tailspin spreading instability throughout the planet? Wow, now I hate him too! :roll:
 
Glaucus said:
It's Obama's fault that Greece is on the verge of default and sent the Euro into a tailspin spreading instability throughout the planet? Wow, now I hate him too! :roll:
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Greece and Euro is not the USA. Yes that is what is being reported as a cause, but that is not the cause.
 
redrumloa said:
Glaucus said:
It's Obama's fault that Greece is on the verge of default and sent the Euro into a tailspin spreading instability throughout the planet? Wow, now I hate him too! :roll:
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Greece and Euro is not the USA. Yes that is what is being reported as a cause, but that is not the cause.
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The US dollar DID strengthen and that usually depresses the stock prices as Europeans can't afford to buy them. The Euro has galloped down 9 cents today. Gold has been bought, US dollars have been bought. Euros are selling.
 
FluffyMcDeath said:
The US dollar DID strengthen and that usually depresses the stock prices as Europeans can't afford to buy them. The Euro has galloped down 9 cents today. Gold has been bought, US dollars have been bought. Euros are selling.
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I just got home and put on the news. It appears that some shenanigans were going on also as the dow dropped 700 points in 10 minutes and certain stocks like ACN dropped to $0.01 briefly, before bouncing back.
 
It does seem a bit fishy, but I think people have been edgy lately too. Europe seems to be in a lose-lose situation. If it was just Greece it wouldn't really matter, but we got Spain, Portugal, Italy and even Britain on shaky ground. Speculators have been relentless and seem to be winning the fight against the EU which would love to squash them. The Euro's Achilles heal, if a Greek metaphor isn't in too bad taste. :mrgreen:
 
FluffyMcDeath said:
fish indeed
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CNBC reported that trading desk was at Citi Group, but Citi is denying it. I wonder if we will ever find out the real reason, but I guarantee a lot of small time investors got f***ed hard today.
 
Well that's definitely Obama's fault!!!
 
Glaucus said:
Well that's definitely Obama's fault!!!
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I've been predicting an Obama crash for a while and when I first posted the DOW was down ~300 points, as a continuation of a major 3 day skid. The 1,000 drop, 700 of which happened in minutes, just to come back to 350, was not an Obama thing. That is a fishy, needs to be investigated, thing.
 
redrumloa said:
I've been predicting an Obama crash for a while and when I first posted the DOW was down ~300 points, as a continuation of a major 3 day skid. The 1,000 drop, 700 of which happened in minutes, just to come back to 350, was not an Obama thing. That is a fishy, needs to be investigated, thing.
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Democratic Presidents tend to do better for the stock market. One analyst and Another

Looking at Bush II a government surplus was turned into a deficit, net job creation was near 0, stock market increase wasn't 0 but it was poor, savings dropped to record lows, there was a net decrease in middle and low income family values, housing values plummeted and the value of the dollar was halved. This was a bad 8 years.

The stock market has seen some the fastest gains ever under Obama. IMO it's been driven more on expectations and less on true values of those companies. I think we'll see some swings as economic conditions are out of alignment with the positivism in the economy.
 
faethor said:
The stock market has seen some the fastest gains ever under Obama. IMO it's been driven more on expectations and less on true values of those companies. I think we'll see some swings as economic conditions are out of alignment with the positivism in the economy.
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You say driven by expectations, I say hot air, both the same thing. It is unstustainable and the air is finally flying out of the ballon.

http://stockcharts.com/h-sc/ui?s=$SPX&p ... 6798741650

I linked the S&P 500, because we all know how limited the DOW is, but it looks the same.

http://stockcharts.com/h-sc/ui?s=$INDU& ... 2532942231

Close below that 200DMA for a couple days and look out below. I'm glad I am out of the market atm. Maybe I can cherry pick a few stocks after the next leg down, the next leg down will be fugly. It will be fuglier than most expect, because the more inflated this PIG has become.
 
So, I'm not sure I like the P&G mistaken sale story. P&G has a market capitalization of about $175 billion at $60.67 per share at the moment which means there are about 3 billion shares. So how could the system allow someone to try to sell 15 billion shares?
 
FluffyMcDeath said:
So, I'm not sure I like the P&G mistaken sale story. P&G has a market capitalization of about $175 billion at $60.67 per share at the moment which means there are about 3 billion shares. So how could the system allow someone to try to sell 15 billion shares?
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Because the system is rigged for a handful of major players. Reglations apply to retail investors, but not major banks. Take unlimited margin and the ability to execute trades away from the DTC and you have a rigged system. The problem is our gov is either part of the scam or they are too ignorant to understand the problem. Why is "High Frequency" and "Flash' trades legal? When you dig, you see companies like Goldman $achs get to see trades before they execute and have proprietary software that allows them to automatically trade based on this advanced knowledge. This is not conspiracy theory, but rather fully documented and known fact.
 
redrumloa said:
This is not conspiracy theory, but rather fully documented and known fact.
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Even documented facts are "conspiracy theories". Conspiracy theory is just code for "don't look at that or we'll call you crazy". Just because there are dumb theories doesn't make all theories dumb.
 
FluffyMcDeath said:
Just because there are dumb theories doesn't make all theories dumb.
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Believing whole heatedly in theories without the slightest bit of evidence is also dumb. That's how religions start!
 
Glaucus said:
FluffyMcDeath said:
Just because there are dumb theories doesn't make all theories dumb.
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Believing whole heatedly in theories without the slightest bit of evidence is also dumb. That's how religions start!
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Theories contrary to the evidence are dumb theories. Looking at the evidence is what separates the dumb ones from the not so dumb ones.
 
Thursday afternoon a stock market glitch almost vaporized the economy in under an hour.
Thursday night the Senate voted not to break up the "Too Bigs".
Did someone make a financial shot across the bow? Something like "We can make sure you're all dead long before the ink dries on that bill!!". The likelihood you ascribe to that is partially predicated on whether you believe that the top bankers are primarily fine upstanding honest people who are interested more in the good of others than in their own good or whether you believe that top bankers are ruthless selfish well connected and powerful crooks. You belief about that should be informed by taking a good look at the things that they have done.
 
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