A little delayed, but the Obama crash is here.

The "Obama Crash" is picking up a lot of steam!

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

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

Talk about slicing through technical resistance levels like a knife through butter :shock:

I'm not surprised at all, the markets got to ridiculous nose bleed nevels based on hot air and fabricated numbers. The only surprise is the charade lasted as long as it did. We go much, much further down from here.

By the way, remember that 1,000 point crash that mostly recovered? We are trading well below the low of that day. Now officials are trying to claim "Flash Crash" was real and no mistakes or monkey business was done.
 
Sorry Red but the US President is not in charge of European issues.
 
faethor said:
Sorry Red but the US President is not in charge of European issues.
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I already tried to explain that, but it was all Greek to him. :wink:

Sorry, couldn't resist that one. :D
 
faethor said:
Sorry Red but the US President is not in charge of European issues.
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The last time I checked, the DOW, S&P 500 and NASDAQ are all US based indexes made up of primarily US based companies.
 
Glaucus said:
faethor said:
Sorry Red but the US President is not in charge of European issues.
Click to expand...
I already tried to explain that, but it was all Greek to him. :wink:

Sorry, couldn't resist that one. :D
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And we were told that a European crash was GOOD for the USA. Heck, even Fluffy told me that :wink:
 
redrumloa said:
And we were told that a European crash was GOOD for the USA. Heck, even Fluffy told me that :wink:
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Good for the US if the Euro itself dies. Not convinced that's about to happen, so it probably won't be that great. Fact is, in this globalized world any financial trouble anywhere is going to be reflected on Wall Street. But you can blame Obama if that makes you happy.
 
redrumloa said:
The last time I checked, the DOW, S&P 500 and NASDAQ are all US based indexes made up of primarily US based companies.
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Based? I assume you mean Headquartered. These companies have international reach. International events therefore impact the DOW.

For example - Catepillar owns companies in Germany, UK, Ireland, India, France, Switzerland, China, Canada, Brazil, South Korea, and of course the US. They are 'primarily' USA based as slighly more then 50% of sales are USA. However, nearly 50% of sales is non-USA. There's enough overseas reach to be negatively impacted as Europe buys less.

Welcome to the 21st Century!
 
We have found no evidence that these events were triggered by “fat finger” errors, computer hacking, or terrorist activity, although we cannot completely rule out these possibilities.
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Gee, what a surprise! :roll:
 
Definitely not out of the hot water. But, the hot water seems to be cooling a bit. The US has now seen 5 months of growth.
http://www.barackobama.com/recovery/video.php?source=FB

Unforunately, jobs are the last thing to come back. Seems that May was a big month for temp workers. IMO this is because businesses are being cautious. They can be let go easily if things turn bad. If things continue good or get better they can usually hire the workers that already know the job.
 
faethor said:
Definitely not out of the hot water. But, the hot water seems to be cooling a bit. The US has now seen 5 months of growth.
http://www.barackobama.com/recovery/video.php?source=FB

Unforunately, jobs are the last thing to come back. Seems that May was a big month for temp workers. IMO this is because businesses are being cautious. They can be let go easily if things turn bad. If things continue good or get better they can usually hire the workers that already know the job.
Click to expand...
[sarcasm]
oh, come on, i thought it was the end of the world!
[/sarcasm]
 
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