Posted on 10/09/2014 1:32:26 PM PDT by Signalman
If the stock market were a transatlantic flight, the ride just went from uncomfortably bumpy to white-knuckle turbulence. The Dow plunged 335 points on Thursday, its worst day of the entire year on a point basis.
What's behind all of this volatility? Market moves aren't always logical, but it's clear that investors are growing increasingly nervous about the fate of the European and Chinese economies. And they don't know how that will change the Federal Reserve's plans to remove the easy-money punchbowl.
The violent swings in the market confused professionals and retail investors alike. "Everyone who thought they were in the clear yesterday walked in today and got punched in the face," said Michael Block, chief strategist at Rhino Trading Partners. "Just when you think have it figured out, you don't. This is a very tough market."
(Excerpt) Read more at money.cnn.com ...
Obama has told us not to pay attention to the daily gyrations of the stock market.
What happened to yesterday’s euphoria?
If the Fed is not outright buying stocks, they will soon.
The Japanese Central Bank is doing so.
It’s nuts. Down 273 two days ago, up 270 yesterday, down 300 today. Very volatile
Come on, get in the conga line! Everything is hunky-dory!
That ought to drive the prices of options up.
Looks like they've reached the end of their ability to pump it up.
What will liberals do, if a good Democrat such as Obama presides over a market crash? After all, part of the mythology of Obama is that he “fixed” things after he inherited the worse economic crisis since the Depression.
October Surprise
Complete market collapse followed by martial law prior to Nov. 4
ping
My bad. It’s 335 pts, not 315.
I wouldn’t get too concerned until Rule 80B gets invoked and the circuit breakers get tripped
At the current opening level the DJIA would have to have dropped 1180 for a Level 1 (7%)
No problem; it could make a diff if the market weren’t closed, never mind after hours trading (those can make a difference).
I am typing the closing prices into my portfolio spreadsheet. Most of the prices are actually higher than the prices that are already there, which I think I updated on Friday. Preferreds and REITS are generally higher. Oils are down only slightly, and still much higher than I paid or would pay.
I don’t see anything that still isn’t overpriced for what it is, my yields are common 3.59%, preferred 6.65%, REITS 6.87%, total invested portfolio 3.91%.
“Thank you, your wealth transfer has been accepted. We hope you enjoyed your stay at Six Flags New York.”
That is correct, sir. Thank you.
Complete market collapse followed by martial law prior to Nov. 4
Followed by King Obama for life!
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