patrick.net

mell says

Wow, I can see no less than 15K and even that would surprise me.

In '08 it was roughly 50% right? Using that same measurement, and subscribing to Rothbard's theory of each boom/bust cycle being more spectacular than the last, until manipulation is removed from the system, I think 10,000 is conservative.

mell says

Are you willing to short (some of) the market here?

I'd short Apple tomorrow if you can guarantee me that regulators won't ban short sales when the market plummets.

NuttBoxer says

mell says

Wow, I can see no less than 15K and even that would surprise me.

In '08 it was roughly 50% right? Using that same measurement, and subscribing to Rothbard's theory of each boom/bust cycle being more spectacular than the last, until manipulation is removed from the system, I think 10,000 is conservative.

mell says

Are you willing to short (some of) the market here?

I'd short Apple tomorrow if you can guarantee me that regulators won't ban short sales when the market plummets.

Yeah, I'd be careful with those. Best is IMO to wait until there is a real economic decline (job losses, low to negative output) and then short a housing ETF by going long SRS. There are no good short candidates ATM. Maybe TSLA, AMZN, APPL, CMG.

TwoScoopsPlissken says

Another big gain today:

,93% is a big gain? I really want some of what you smoke.

anon_e144f says

TwoScoopsPlissken says

Another big gain today:

,93% is a big gain? I really want some of what you smoke.

For an index fund to gain close to 1% is a big nothingburger? The day didn't finish that way, but I sometimes just don't get people. Ultimately the day to day doesn't matter really, it's long term. But yeah, 30 stocks, basically the worlds largest companies, having a good enough day to bring that average up 1% is probably considered a big gain for one day. I see no problem with the statement.

Who am I kidding. Let's just burn it all to the ground. We're doomed!

What happened to the Plunge Protection Team and the volitile trading switch?

Did Obama turn it off so Soros could manipulate the markets again? He did, HE DID! That crooked bastard.

anonymous says

Fellow PatNetters - start taking screen shots of your posts, comments and threads.

You can like your own post and it will email a copy to yourself. Then when it gets deleted you can read it again to see there was nothing that even comes close to a personal attack, and know what censorship by a “political opponent “ feels like while you wonder wtf happened to this place

anonymous says

errc says

You can like your own post and it will email a copy to yourself

That's wonderful. "Like" selfies.

anon_9ed23 says

because a certain feathered animal said so?

I thought he was mainly invested in APPL and wetbulbs.

Hutch says

Is this the plan for the grand finale of the military parade?

You do understand that's a made up tweet from a tweet generator?

It is another 1,000 down today-interesting.

Meh.

I'll know the markets up when liberals ignore it like they did most of last year except on a few down days.

lostand confused says

It is another 1,000 down today-interesting.

Interesting indeed

TwoScoopsPlissken says

I'll know the markets up when liberals ignore it like they did most of last year except on a few down days.

It's only newsworthy because our President makes such a big deal about it when it goes up.

If he owns the increases, then he also owns the decreases.

As Warren Buffett likes to say, when fundamentals have not changed, but stocks plummet, that just means they are on sale at a big discount and he's happy about it because it's a buying opportunity.

Another way to look at it: these drops set us back to about 3 months ago.

Of course there is momentum to deal with, meaning that we may still have a lot more people who bought on margin to shake out before things stabilize and start climbing again.

It's all OK with me. Kind of fun to watch the drama, and I laugh at the way that NPR breathlessly announces the "biggest one day point drop ever" without mentioning that it's maybe in the top 500 daily drops percentage-wise, maybe not. And without mentioning the truly record run-up over the last year. They have an anti-Trump agenda to push.

Notice how its been wildly unstable since the memo was released? Color me, surprised.

lostand confused says

It is another 1,000 down today-interesting.

Horrible, now it's only up 25% for the last year.

Sell... Sell...

Booger says

Notice how its been wildly unstable since the memo was released? Color me, surprised.

Someone is paying attention.

HappyGilmore says

It's only newsworthy because our President makes such a big deal about it when it goes up.

If he owns the increases, then he also owns the decreases.

Haven't quite a few here given Obama credit for the last year's run up? You know, following Obama's trend line (of gaining 600 points for 2016).

So this downturn, IS ALL OBAMA's FAULT.

anon_2d3fb says

Haven't quite a few here given Obama credit for the last year's run up? You know, following Obama's trend line (of gaining 600 points for 2016).

So this downturn, IS ALL OBAMA's FAULT.

Sure--give Obama credit for the entire rise and then you can give him credit for the recent fall as well.

Just be consistent. That's all we're asking.

HappyGilmore says

anon_2d3fb says

Haven't quite a few here given Obama credit for the last year's run up? You know, following Obama's trend line (of gaining 600 points for 2016).

So this downturn, IS ALL OBAMA's FAULT.

Sure--give Obama credit for the entire rise and then you can give him credit for the recent fall as well.

Just be consistent. That's all we're asking.

Thank Trump for the economy improving.

Blame no president for market fluctuations.

That is all.

S&P 500 is down 10.15% from the high. Officially a correction

Booger says

S&P 500 is down 10.15% from the high. Officially a correction

Yeah but these things we don't know-in hindsight it will be very clear-a pause or a massive leg down?

lostand confused says

Booger says

S&P 500 is down 10.15% from the high. Officially a correction

Yeah but these things we don't know-in hindsight it will be very clear-a pause or a massive leg down?

So far I haven't heard a good explanation even for this correction, let alone a potential "massive leg down".

HappyGilmore says

Sure--give Obama credit for the entire rise and then you can give him credit for the recent fall as well.

Just be consistent. That's all we're asking.

It is not inconsistent to credit Obama for the past year, and blame Trump for what is to come. Holding a given course is easy. It's the course corrections and decision you make at the helm that are your legacy. To date Trump and the Fed chair have been status quo.

These are currently some interesting waves though. Let's see. Currently the market sees the turbulent flatulence of a porn star raw dogger charlatan. Does it continue?

I don't blame Trump for a '1/2 year gain' sell off in the markets over the past week. I'll blame or credit him for what is next.

Futures green again. Buying that AH / end of market dip is good style ;)

Satoshi_Nakamoto says

So far I haven't heard a good explanation even for this correction, let alone a potential "massive leg down"

Really!?

Try massive inflation of a currency backed by nothing, coupled with wild speculation, all at levels unheard of in history.

It's a steep slope down the other side of that mountain...

NuttBoxer says

It's a steep slope down the other side of that mountain...

did you look at SRS? Good short vehicle (without actually shorting since your buying a short ETF on the long side) for rising rates and hedging long positions against a market crash, up quite a bunch today.

NuttBoxer says

Satoshi_Nakamoto says

So far I haven't heard a good explanation even for this correction, let alone a potential "massive leg down"

Really!?

Try massive inflation of a currency backed by nothing, coupled with wild speculation, all at levels unheard of in history.

Where is the "massive inflation"? In 3% raise the workers have received last year after a decade of no wage growth? That's massive, allright. Yuuuge!

I say people who are selling because of "growth" and "inflation" are slightly too optimistic about these 2 things.

NuttBoxer says

It's a steep slope down the other side of that mountain...

Same profit taking we saw after the 1986 Tax Cuts, a big reason for the 1987 Drop.

Full Speed Ahead. Just wait until those refund checks come in.

Satoshi_Nakamoto says

NuttBoxer says

Satoshi_Nakamoto says

So far I haven't heard a good explanation even for this correction, let alone a potential "massive leg down"

Really!?

Try massive inflation of a currency backed by nothing, coupled with wild speculation, all at levels unheard of in history.

Where is the "massive inflation"? In 3% raise the workers have received last year after a decade of no wage growth? That's massive, allright. Yuuuge!

Exactly, not from inflation.

1) My take, the "Memo" scared some people and the Algobots decided to sell, based on some unknown news.

2) Retail investors have decided to take some cash off of the table, after a 30%+ rise the last year.

3) Once the "bots" start selling, they start feeding off of each other, and some shorts get triggered, adding to the mess.

There was really no negative economic news to trigger it, actually just the opposite, with the jobs report being good, corporate earnings up, etc. Even today we have a really low unemployment report (good news) but still had a sell off. Since 80% of trading is done computer against computer, basic fundamentals don't seem to matter anymore.

I took my 20% gains, will wait for another buying opportunity, buying the dip hard

NuttBoxer says

It's a steep slope down the other side of that mountain...

But on the flip side, I'll take that 18.98% gain the last year compared to an historical average 6%-8% annual gain. Heck, the last two years of Obama, we got -2% in 2015 and like 4% in 2016, not counting the Trump bump in the end, so it's been a Grand Slam the last year under Trump.

Satoshi_Nakamoto says

Where is the "massive inflation"?

So central banks and fiat currencies inflate as naturally as your uncle Bob at Thanksgiving dinner. It's what they do. Since our latest incarnation of a central bank circa 1913, the US dollar has lost over 90% of it's purchasing power(i.e. inflation). We stopped redeeming dollars for gold in the 30's, abandoned gold altogether in the 70's, and haven't had a decade without a market crash since. Starting in '08 was this thing called QE, printing presses working overtime.

anon_815a8 says

There was really no negative economic news to trigger it

What about all the fucking homeless people in in San Diego? I've lived here 22 years and this is the most I've ever seen. If things are really as good as your government numbers tell you, shouldn't there be less homeless people, not more?

anon_20dcf says

buying the dip hard

If you like dips, check out crypto-currencies. You'll be in dip heaven.

NuttBoxer says

What about all the fucking homeless people in in San Diego? I've lived here 22 years and this is the most I've ever seen. If things are really as good as your government numbers tell you, shouldn't there be less homeless people, not more?

Economy seems to be doing solid by my area. Could it be the homeless got more money in other regions and made their way out to CA? I know it's a little far fetched, but I'd venture to guess a lot of the current homeless are not lifelong CA residents. Just one theory, not saying that's what it is.

If I was homeless in 2 years and having traveled all around the states, CA would be my first choice since I wouldn't be owning a home and living outside mostly. Chicago or any cold weather city would be a nightmare for a homeless person, especially on a day like today for Chicago. Greyhound bus fares aren't all that much.

NuttBoxer says

Satoshi_Nakamoto says

Where is the "massive inflation"?

So central banks and fiat currencies inflate as naturally as your uncle Bob at Thanksgiving dinner. It's what they do. Since our latest incarnation of a central bank circa 1913, the US dollar has lost over 90% of it's purchasing power(i.e. inflation). We stopped redeeming dollars for gold in the 30's, abandoned gold altogether in the 70's, and haven't had a decade without a market crash since. Starting in '08 was this thing called QE, printing presses working overtime.

All of this was in place 2 month ago. This doesn't explain the sudden panic.

NuttBoxer says

anon_815a8 says

There was really no negative economic news to trigger it

What about all the fucking homeless people in in San Diego?

Do the homeless in S.D. have much money invested in the market?

NuttBoxer says

I've lived here 22 years and this is the most I've ever seen. If things are really as good as your government numbers tell you, shouldn't there be less homeless people, not more?

You can thank your Dem controlled legislature for that. There's a reason CA leads the nation for the highest number of people on welfare.