patrick.net

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.

anonymous says

anon_815a8 says

My take, the "Memo" scared some people

It wasn't the "memo" - get over the stupid fucking nothing burger "memo" a

Then the timing is completely coincidental???
A tiny rise in interest rates is also to blame.

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.

anon_f143c says

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,

Let that sink in and marinate for a few minutes.

That's years 7 and 8 of Obama's term (you know, the amazing RECOVERY after the recession), after adding how many TRILLIONS of debt to the economy. The market flat lined the last two years.

Yet, some here, want us to believe the 2017 rise in the market was because it was just following the Obama previous "trend line".

Really?

What level are you looking at as a bottom?

What value picks are you looking to pick up on discount?

Must be all the "smart money" scattering like cockroaches in the light of day!

Sniper says

that certainly sounds like a personal attack

Yes, that was a personal attack. Deleted.

Hutch says

Hey @patrick isn't this also a personal attack?

Press the button then.

Hutch says

Sniper says

but since the poster is a member of the protected "Blue" team, apparently it's considered acceptable, and he'll be allow to complain about OTHER posters for attacks instead.

Hey @patrick isn't this also a personal attack? Why has it been allowed to stay?

You're right, also deleted.

Satoshi_Nakamoto says

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

I see your point. I try to avoid looking too closely for logic and reason in an economy run like this. Do you really need to jump down the rabbit hole if you know what's at the bottom?

Sniper says

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

I'm a believer in the Austrian viewpoint that we over-compartmentalized economics(actually most education), and lost a lot of understanding of root cause as a result. my comment was to the health of the economy overall.

Hutch says

Sniper says

That's years 7 and 8 of Obama's term

All I know is that while Obama was president the dow never fell 3000 point.

It didn't rise 3000 points in one year either.

Look for a big rally on Tuesday. Traders, optimistic with the budget deal behind congress for two years, will also be pent up with anticipation of trading after the three day weekend. Also everyone who got out of the market will want back in.
Big Tuesday!

Intreresting observations in this WSJ article: https://www.wsj.com/articles/understanding-this-markets-rout-1518200572

UPD. Fuck, it was free from the phone "news" app but requires subscription when accessed from a browser.

anonymous says

He took credit for it on the way up - he owns it on the way down.

Absolutely, what's not to like on this chart? That's some YYUUGGGEEE money being made!!

anonymous says

Perhaps time to revisit the RV purchases and buy something more realistic and akin to what Trump's stock market it doing.

Sure, that 20% rise over the last year has been wonderful!!! It will buy a lot!

Sniper says

Absolutely, what's not to like on this chart? That's some YYUUGGGEEE money being made!!

I'm slightly bummed that my massive gains are reduced back to the level they were in November, but hey, it's still a huge win.

Patrick says

Sniper says

Absolutely, what's not to like on this chart? That's some YYUUGGGEEE money being made!!

I'm slightly bummed that my massive gains are reduced back to the level they were in November, but hey, it's still a huge win.

Would you like to swap those gains with the ones you received during 2015 and 2016?

We got too comfortable watching new records day after day. After an approx 35% upside in a little over a year, there had to be a correction, it was way overdue.

Let's hope it's done and we can continue back up.