S&P Breaks 730 Support

[Go2Guy]

Mother of all Bear Markets; will it ever stop going down?


"As bad as things are, they can still get worse, and get a lot worse," said Bill Strazzullo, chief market strategist for Bell Curve Trading. Strazzullo said he believes there's a significant chance the S&P 500 and the Dow will fall back to their 1995 levels of 500 and 5,000, respectively

 

[alaskaguy]

Its next to impossible to respond to this thread without making a statement with political implications, so I'll pass on doing so.

 

[benjay]

Sure you can.

ex: OMG WE'RE ALL GOING TO DIE

 

[herbicide]

Well, if the market hits 5000 and you still have a job, BUY!!!

 

[drmwevr08]

Sure you can.

ex: OMG WE'RE ALL GOING TO DIE

Maybe not that bad. I'll go with

WE'RE DOOMED!

 

[Go2Guy]

The widest variance bt. the monthly close and the moving average since the 1929 market crash.

 

[matmann22]

Can we stop all the doom and gloom and 'catastrophe' crud for a few minutes ?

1) 90ish% of people that want a job have one. In the Great depression unemployment was > 20%

2) The vast vast vast majority of people are paying (fully and on time) their mortgages, auto loans, credit cards, student loans, etc...

3) The Chinese and the oil sheiks are still funding our Federal governments spending spree

4) Oil/Natural gas prices are the lowest in quite awhile

5) The president's day car sale is STILL GOING on at GM so you can still get a good deal on a car that probably has less domestic content than my 2007 Acura TL does.

6) Spring and Summer weather are coming soon !

 

[SouthernClone06]

5) The president's day car sale is STILL GOING on at GM so you can still get a good deal on a car that probably has less domestic content than my 2007 Acura TL does.

:biglaugh::notworthy:

 

[alarson]

1) 90ish% of people that want a job have one. In the Great depression unemployment was > 20%

since then theyve changed the definition of unemployment and how they count unemployed workers. were we using the system from back then, we'd be at a much higher %

Jobless rate now at 16.5%—using Depression-era yardstick - Financial Week

 

[Go2Guy]

Can we stop all the doom and gloom and 'catastrophe' crud for a few minutes ?

1) 90ish% of people that want a job have one. In the Great depression unemployment was > 20%

2) The vast vast vast majority of people are paying (fully and on time) their mortgages, auto loans, credit cards, student loans, etc...

3) The Chinese and the oil sheiks are still funding our Federal governments spending spree

4) Oil/Natural gas prices are the lowest in quite awhile

5) The president's day car sale is STILL GOING on at GM so you can still get a good deal on a car that probably has less domestic content than my 2007 Acura TL does.

6) Spring and Summer weather are coming soon !

I agree with the need for a change in Psychology, but the smart money is running out and away from the stock market - and that serves as a proxy for economic performance 6-months out.

 

[Wesley]

The widest variance bt. the monthly close and the moving average since the 1929 market crash.

Looks like a roller coaster ride in Disney World.

 

[Wesley]

If the current group running the country cared about the stock market, they would have changed some of the old rules by now. My take is this is just more crises to do their thing.

 

[pulse]

since then theyve changed the definition of unemployment and how they count unemployed workers. were we using the system from back then, we'd be at a much higher %

Jobless rate now at 16.5%—using Depression-era yardstick - Financial Week

This is still not even remotely close to the Great Depression. Even if it were 16.5% like the guy in the article suggests, that is still a long ways off from 25%. Ask any octogenarian what the Depression was like (or think back to history class).

 

[Wesley]

This is still not even remotely close to the Great Depression. Even if it were 16.5% like the guy in the article suggests, that is still a long ways off from 25%. Ask any octogenarian what the Depression was like (or think back to history class).

That was in Year four in 1929-1932. We are only in Year One.

 

[Cydkar]

We are only in Year One.

Is this a coach Mac thread?

 

[brianhos]

Down to 6830 now. Is this where you hear the dive sirens on a sub?

 

[MilehighClone]

This is still not even remotely close to the Great Depression. Even if it were 16.5% like the guy in the article suggests, that is still a long ways off from 25%. Ask any octogenarian what the Depression was like (or think back to history class).

It could end up being much worse. Debt levels, across the board, are much higher than they were in 29. More importantly, we still have trillions in synthetic secutities that still need to be marked down(see aig). Commercial mortgage backed securities(cmbs) will be the next domino to fall. Imo, still much more worked to do on the downside before this is all over.

 

[alarson]

Down to 6830 now. Is this where you hear the dive sirens on a sub?

PREPARE FOR DIVE!

 

[brianhos]

It could end up being much worse. Debt levels, across the board, are much higher than they were in 29. More importantly, we still have trillions in synthetic secutities that still need to be marked down(see aig). Commercial mortgage backed securities(cmbs) will be the next domino to fall. Imo, still much more worked to do on the downside before this is all over.

At this point what can you do other than getting rid of all revolvable debt?

 

[Wesley]

Banks loss $36 billion as a group last quarter. That was amazing. Dow lost money as a group. That was a record. Dropping S&P is not a surprise if current admin is not changing up tick and mrk to market rules. It is almost like they are letting it fall deliberately to create a crisis.