Stocks down 2 days in a row

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ancona

Praying Mantis
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Waaay south
So, yesterday over 350 0ff and now chasing 500 down for the day. This is getting interesting folks. If we have any ugliness over the weekend, like the Norks tossing a few missiles at Seoul, we could have some real fireworks on Wall Street Monday morning.
 
Folks at the PPT must be a bit distracted with the SEC folks' porn library. Someone is dropping the ball.
 
Minus 526 and falling at 4:01, which doesn't paint a very pretty picture for da boyz this afternoon. I'd pay money to be a fly on the wall at the lounges in Manhattan this afternoon.
 
North Korea shooting at the South is like wanna be tough guys hanging out at the local stop and rob. You don't worry when they are in the lot acting tough, you worry when they get real quiet.
 
Look out below!


China stock market imploding. Looks like fecal matter is spattering everywhere.
 
Down 452. Uncle Sugar bought it back up from nearly a thousand points in the red this fine morning.

Hide those nail guns Boyzz!
 
I am always still amazed at how some of these pundits on T.V. can keep a straight face. When the Dow had "recovered" to only being down like 5-600 points they are saying this is not a big point drop, but when it goes up 100 they start dancing and singing like everyone simultaneously won the lottery.
 
Yeah, all the metals and oil down and even when the market was still down 800 points the VIX was pretty flat. I don't know how to make heads or tails of anything going on today,
 
Down over 613 and falling per FINVIZ. I wonder if Da Boyz are going to run out at twenty til four and catch this falling knife like they usually do?

I watched the magic this morning as they levitated the morning crash from down almost a thousand to around two hundred down. Then, drip, drip, drip. All day long the faucet dripped and dripped. Now we wait. Maybe they rescue this mess and maybe they don't.

If they carry the market, it sends a signal that anything goes, and mistakes will be tolerated, rewarded even, and I don't think they will do that. Prudence is warranted here, and in the face of what has been a very ugly few days, I say they let it ride and see what tonight brings in Asia. Maybe cooler heads prevail, so let's wait and see may be the play of the day.
 
11C1P said:
Yeah, all the metals and oil down and even when the market was still down 800 points the VIX was pretty flat. I don't know how to make heads or tails of anything going on today,
Click to expand...

VIX has been on a rollercoaster today:

http://www.bloomberg.com/quote/VIX:IND

Opened at 28.03. Rocketed to over 50, dove back to 30, and now back to ~40. Those are pretty big moves.
 
Levitation time!

Up almost three hundred points in a few minutes on no news. Someone is buying huge blocks of random stocks in steady-steady mode. We'll see if they keep it up in to the close.

Uncle Sugar isn't even truing to hide it anymore.
 
Drifting back down a little bit at -420, and it looks like the boys are running out of steam at six minutes before the bell. Probably going to close just under five hundred down. Far better than the thousand points under water we saw this morning, but dismal nonetheless.

Although, a lot can happen in six minutes, just ask the Brotherhood of Darkness.
 
Closed at -506 and small change. Going to be some sore asses tonight. I hope Asia calms down because if not, and if China allows the market to just keep on doing it's thing and find her own equilibrium, it's only going to get uglier as Europe catches the bug and passes it over to us in the morning. Uncle Sam ain't got the steam to fight back this river of shit folks.
 
I suspect there is more downside to be realized yet. I'm glad I'm mostly on the sidelines here.
 
Welp, we've got us some inorganic buying, just as the world expected to happen today. China did the right thing and let their market do as it wanted to. Their correction has been ugly and huge, but the pain will be swift,, hurt badly and be over quickly enough that folks can recover and learn their lessons and move on with life. Many will lose everything, but they will learn not to be so greedy next time. Trust will be lost, but lessons will be learned the hard way, and those are usually the best ones to learn. Over here, nothing will be learned, and Uncle Sam will foot the bill, pay the profits and the banksters will get away with high crimes and treason once again. We will never learn from the past because we keep repeating the mistakes we refuse to learn the lessons from.
 
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I do believe there is a hard lower bound vis a vis central banks and interest rates. The PBOC lowered rates to try and prop up the markets. It might work for a short while, but it isn't going to fix the root issue and in time that is going to reassert itself. Once again, a can gets kicked and it gets closer to the wall.
 
Hmmmmmm.....now +88 which is down from over +388 earlier today. We'll see if the rescue boys fly in to the room at 3:40 today like they usually do. It will be unusual to see this thing fall below the magic green line and close red for the day, but stranger things have happened [lately at least].

The last forty minutes or so have seen a lot of selling for some reason.

*EDIT*
Now +53

Interestinger and interestinger...

*RE-EDIT*
Now -133 and falling...

*RE-RE-EDIT*

-205 at 4:02 p.m. EST

Closed at 15,666......I swear you can't make this shit up. Bwahahahahahaha!!!!!!! Someone has got to make a movie about this.

What ride today was.
 
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They were saying that the down turn happened on a "rumor" that there was some internal troubles in China that included troop movements. If China has some sort of military putsch whether from within its own govt might not be as huge a deal as if it was a popular uprising, it could still be very interesting to see what happens if these rumors have any validity to them.
 
Suspect its just a msm 'blame China' meme

After all it can't be the Fed or the Mr Market .....
 
As a long time observer and player in the markets, a 500 pt change in the DOW is no big deal as that amounts to a move of less than 5%. 5% moves up or down are a relatively common occurrence. Even 10% moves happen occasionally. The only time I get concerned is when the market moves 20% or more in a relatively short time period.

Look at historical charts. Prices of any commodity rarely crash more than 40% in a 2 month window and when they do they usually rocket back up the next month from halfway to 2/3s of the way back up before going sideways for months and/or years. Note that I said, "usually." Also note that markets can and do trend up or down for years without the volatility associated with a "crash."

So, as I write this the Dow is something like 11% off of its all time high. Wow, big deal. Will it keep falling? No way to know, but what I do know is that markets seldom crash down for more than 56 days without bottoming out, recovering a lot, then trending sideways. That means that we could see another month of severe drops and roaring rises on the bounces before calming down around the current levels until next year. My guess today is that in the next 30 days the DOW may find a low around 14000 before climbing back to today's numbers. Based on history, the maximum low could be around 11000 near the end of September, but even though possible I don't think it will get there.

My long term view? Mostly sideways to up for the next 3 years. New highs in 18 and early 19, then a crash starting about Labor Day 2019 and culminating with a low on 25 October 2019 about 40% below the Labor Day high. From there it is anyone's GUESS.

Now that I have put this in writing, watch the gods of the Dow rise up and make me look like a fool.
 
mmerlinn said:
As a long time observer and player in the markets, a 500 pt change in the DOW is no big deal as that amounts to a move of less than 5%. 5% moves up or down are a relatively common occurrence. Even 10% moves happen occasionally.
Click to expand...

You better look closer. The biggest moves the dow has ever seen is a 22% change and that only happened once, all of the other biggest % moves are 15% or less and there have only been a few of those in over a century of trading. I would call a 10% move a rarity, even an oddity. Even 5% is a big move in something like the DOW. In '89 & 97 moves down of 7% were called "mini-crashes". So a move of 5% is a fairly big swing. Not to mention you pile up a few consecutive days of 2-5% moves in one direction or the other, it becomes VERY huge.
 
Pretty crazy stuff brothers and sisters, pretty crazy. China is dumping our treasuries like mad to prop up their yuan and their markets right now, which does not bode well for the dollar. Someone has to absorb those things, and I suspect Belgium doesn't quite have the liquidity for it, so who, what and where comes to mind. Treasury dumping aside, we also have massive inventory build, coupled with crashing consumer confidence and cratering auto sales. The big three are packing lots again, this time at record levels, so expect anyone that can fog a mirror and show a check stub to soon be driving a new Lexus. This is a set-up for the next explosion in the world of high finance. They'll never learn, because Uncle Sugar didn't let them learn the last time, and they presume he'll just bail them out again.
 
They could lend Greece a $ trill with an agreement that they soak up the dumped treasuries.

Kinda like creating a 'bad bank' to hold all the debt ......

Win - win I reckon (-:
 
So we had an end of session 18 or 20 minute rally from down about 122 to down 11 on zero new information of any kind. Just amazing, absolutely stunning. They don't even try to hide this stuff any more, it's just a farce the way it is out in the open. Sort of like the mainstream media shilling for the socialist lefties now. They don't bother to shellac it over at all, it's right out in the open for everyone to see and they don't even care.
 

Sometimes it reminds me of when you watch some movie with vampires, or zombies, or werewolves in it, and everyone is going, hey that guy's drinking blood, and he never goes out during the day, and he can fly, wonder what it could be? You just wanna scream "HE"S A FUCKING VAMPIRE! WHAT CAVE HAVE YOU BEEN LIVING IN TO NOT KNOW WHAT THAT IS?!" It's the same way with a lot of this stuff, it's like I've seen this movie before, what's the running time on this one?
 
Futures are looking like a bloodbath this morning. We'll have to see how badly the boys in da hood want to keep the party going. It should be a wild ride either way, what with another black swan explosion in China yesterday taking out a huge quantity of who knows what, killing who knows how many. There is rampant speculation that these explosions are cover-ups for materials/commodities that were used as collateral that was re-re-re hypothecated for bank loans in fraudulent schemes and some very frightened businessmen needed to cover their tracks and that was the only way to do it. I don't know either way, but this is getting more and more interesting by the day.
 
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As John Lennon said "Strange days indeed!" There is also another quote I can't quite remember about everybody thinks the times they live in are the "most" whatever you want to add, strange, fun, dangerous, difficult etc. I suspect since a lot of people don't pay much attention to history. I always liked the Billy Joel line, "The good old days weren't always good, and tomorrow ain't as bad as it seems." All that being said, clearly the sky is falling and we're doomed, that's why I'm still stacking.
 
Well, Hillary's comment did tumbled the Biotech Index in Nasdaq, Who knows what will happen in the upcoming Republican Debate which includes Trump, Carly etc. which is even titled "Economy"
Here's Everything you need to know about the upcoming October 28 CNBC Presidential Debate Schedule.
 
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