Posted on 10/29/2018 5:23:59 PM PDT by Poison Pill
Stocks closed lower on Monday, giving up sharp gains from earlier in the day in a wild session that saw the Dow Jones Industrial Average travel more than 900 points. The S&P 500 closed in correction territory, down 10 percent from its recent high.
Traders blamed the possibility of more U.S.-China tariffs
(Excerpt) Read more at cnbc.com ...
Maybe these “traders” should all go live and do business IN China - since they are so fond of Communists. Wonder how much George Soros is paying them to tank the market just before the Midterm elections?
There will be some dogpiling onto depressed (therefore higher-yield) dividend paying stocks, and onto depressed (therefore better multiple) higher-earning companies. For example, Ford did its slide I think two weeks ago, is up about a buck from its 52-week low (set at that time). Meanwhile, I'm keeping an eye on some UK-based ADRs, because I expect those to continue to slide to inefficient levels. Disclaimer: no advice intended, follow me and go broke, so there! Thanks Poison Pill.
If the GOP beats back the socialist zombie attacks on Nov. 6, I'd say the bulls will stampede back into the markets.
To paraphrase the great Dennis Miller, "That's just my opinion, I may be wrong".
Woot! Buy LOW, LLY, and esp. PEP and DUK if down opens down tommorrow. I’ll put in limit order if the market falls out of bed, though.
I don’t know enough about investments to know if the string of Fed. Reserve interest rate changes and some coordinated selloffs by billionaires at key moments is causing this to hurt the GOP and Trump in the midterms and slowly sink the U S economy by the 2020 election.
During the Clinton and Obama years I read posts on FR that had knowledgable FReepers saying a group was saving the Dem presidents from harm by stopping slides and staging first aid rescue buys to get an upswing going. No such help for GHW Bush or GW Bush, naturally. Also computer automated selloffs came into play-—are they still allowed?
What do people here who know about these things say now?
Interesting that both gold and silver are down.
Boeing down 6.5% ($23.68) after a 2 month old, $100M plane crashes didn’t help the dow.
Yeah, why have these people taken so long to accept that Trump is serious?
But this will cause great good in the longer term, a very few years.
Or, anytime, China could always just start obeying the rules...
I used to work on Boeing avionics. Inside joke: “every crash means a new airplane order”.
With Dow in 24,000+ area, 200 points is less than 1%. People get worked up with 200-300-400 point moves. That is all less than 2%.
Just divide the numbers by 10. If Dow was at 2400, and Dow moved 20, 30, 40 points, no biggie.
Keep perspective.
If interest rates go up to 19%, then yes, they are trying to crash the economy.
The interest rate rises are not really the problem. The problem is that since 2008-2009, interest rates have been too low, almost at zero. In any borrowing situation, there is a borrower, and a lender. Having interest rates sink to near zero is great for borrowers, but terrible for lenders. This imbalance needs to be corrected, but it has to be done gradually.
Didn’t Lion just put a different 737 in the drink a few weeks ago?
Lion landed a 2 month old 737-800 in the ocean back in 2013. The 737 that landed in the Ocean last month was a New Guinea Airline, Air Niugini. At least it was 13 years old when wrecked.
Thanks.
At least the one that went into the lagoon was a pretty good landing for all the on board peeps.
I’m thinking that retaining both Houses will at least pour some oil on the waters....notice how them traders blame Trump policies and ignore the Fed which has far greater impact.
And today the Dow is up 200+ points this morning, so far.
The main factor about trading at this point, where the next utterance from the Federal Reserve is NOT what the markets are waiting for or banking on, is that the market is and will continue to be more volatile than it has been in recent years; where actual economic and market news - what’s happening - and not the Fed, is triggering buying and selling.
And part of the selling is a value rebuke to some of the beights the Feds easy money had created. Such corrections should be a good thing, and once we have had enough of them the next market rise will be on more true value - not Fed inflated - territory.
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