Bernanke and co. need to quit stalling. I wonder if they're gambling on holding on and hoping that this is the final shoe to drop before igniting a new rally by slashing the Fed funds rate in half.
Is there going to be another 500 pt selloff if another major bank fails? Or has all the big money left already?
Famous last words...My boss did a regression analysis on his prediction of the Dow on when it bottoms out...Based on his analysis, it'll hit 7700 by next Oct...who knows...
I say when the Dow hits 9000, thats rock bottom...I dont see it going lower than that, and if it does, it wont be by much (hopefully).
All I'll say is that we're in bizarro world right now. We have gone past the point of being oversold to the point of utter disconnect from reality -- the equity markets are just not making sense any more. Someone on CNBC just said that they heard some stores in Europe are no longer accepting UK-based credit cards.
How are you coming up with Dow 9000? Just because Cramer said so? Until EU does anythign about cutting rates, then the market will keep sliding. This is a 100 year phenomenom. Great time to buy stocks and hold. Cash is king!
I have read that historically a bottom is reached when stocks sell between 5-10 times earnings which means if this is a true correction we could have a little ways to go.
When panic hits, technicals and fundamentals are out the door. The VIX is at 54 right now. 50 was used as a past measurement. Check this out. http://stockcharts.com/h-sc/ui?s=vix&p=D&yr=0&mn=6&dy=0&id=p27066333344
I went and bought my self some uyg, yes I am r****ded, but I am hoping for a bounce tomorrow morning.
Even the VIX isn't making sense at this point. Every signal known to man seems to be screaming "BOTTOM!" ... we even had the ultimate confirmation with Cramer pushing the panic button and telling everyone to sell. Right now we're throwing the baby out with the bathwater and the system is cracking...and Bernanke and co. keep stonewalling. Deflation is already here. 2% is no longer a sustainable funds rate. Everyone in the world seems to know this. Forget about waiting for the idiot Europeans -- they are in over their heads, and they don't know what's coming to them. This time last month they were still pointing fingers at us laughing. Now they're busy bickering among themselves confused on how to prevent their countries from going bankrupt. Cut the rates already and allow the US to set the pace for the world to follow. This is ridiculous.
I am pissed that MSFT hasn't dropped past 25 support. It's been at that level for months. It would be a great pickup at 20.
I wasnt aware of Cramer saying that. There is no real analysis on my part other than the fact that I didnt think we'd hit this kind of low...there is so much chaos that these numbers arent making sense. I just dont see us going much below 9000. Gut feeling, nothing more.
The S&P 500 is about 24% below the 200 DMA. A reading like this has occured 5 times in the past 7 years. All times if bought at this 20 under the 200 DMA, it has been a profitable long trade a month out. We are much closer to a bottom than an all out collapse at this point. The market moves in extremes, its just human nature. We have seen drops like this before, so its nothing new.
nikkei is now lower than the dow i also spent about 30 minutes on the phone today talking to my girlfriend's best friend's boyfriend who i never talk to. he was basically asking me if our society was about to end. we are getting close to a bottom but we need to get some sort of resolution to the credit freeze up.
I never said we were having an all out collapse. I said its going to dump one day then form a bottom. Cash is king. Im going in 100K large on options the day of the reverse. done deal..
