Posted on 08/23/2015 5:17:08 PM PDT by Red in Blue PA
Good evening!
The weekend is over and stocks are resuming their slide.
Shortly after futures opened on Sunday night, Dow futures were down as much as 102 points, S&P 500 futures were off as many as 11 points, and Nasdaq futures were down around 30.
These moves, however, are muted compared to the turmoil seen in markets last week, when the Dow lost more than 1,000 points and officially entered a "correction" after falling more than 10% from its most recent high.
Overall, the stock market had its worst week in 4 years and people are pointing the finger all over the place.
(Excerpt) Read more at finance.yahoo.com ...
How low can we go
I checked the futures at 1 pm and the Dow futures were off over 400 points.
Checked them again at about 7:30 and they were down 113.
So the direction is getting better!
Yep. I think Fox Business will be reporting on the Asian markets starting at 9 pm tonight.
Government issued economic statistics are tarnished with political spin. Financial gimmickry by central banks may affect stock prices but cannot produce real wealth. A more accurate measure of economic conditions is the price of industrial commodities. The price of steel, copper, aluminum, lumber and oil correlate with economic activity. If the world economy is in recession or depression the prices of commodities is soft. Forget what Obama says about the economy, check the price of copper.
Saudi stock market down 7% today, down 24% from it’s April high.
(Never knew the Mideast markets opened first!)
The Fed will step in more reluctantly than the Chinese govt. Also our govt won’t execute short sellers, although Obama is probably envious. The PTB would not care one way or another if Obama ends up with the best economy ever or not, but they probably won’t let him take the fall for the inevitable collapse. So we are not going to have the inevitable collapse now, besides the ride is really just starting. Don’t fight the Fed even if the Fed hasn’t made up its mind.
You’re right,of course.I’m trying to remain hopeful,but I think that we’re all going to suffer.
Please do not click on Bloomberg articles....you only give the world’s biggest anti-gunner more money!
The Nikkei opens down 500 to 18,990.
There will be intervention. That’s what will change and even if it isn’t imminent, the thought of intervention will reassure investors.
Japanese market down 470,not good.
” pointing the finger all over the place.”
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Reminds me of the old western trope, where the cowboy dashed out of the bunkhouse, leapt onto his horse, and rode off in all directions at once.
Doesn’t this happen EVERY TIME the Fed is about to raise interest rates for savers?
Dow 16342 and dropping
S&P NASDQ and USD dropping like a stone
Will the fed let the market go below 16,000 tomorrow?
Will they announce QE4?
Even if so some insiders do not believe it will work this time
Heyyy, this isn’t supposed to happen until a GOP president takes office and catches the blame
People still making money even when the market is correcting.
Monday, anybody with market experience knows very well there will be massive margin calls hitting lots of investors.
There is a potential for these margin calls to get to be self-fulfilling.
OTOH, the market will indeed find a bottom somewhere, but please don’t take my comment as meaning that it has to happen this week or month.
The “tell” will be closer to mid-week, when the mar calls have gone out and been met.
The real, real danger the market faces is liquidity. When liquidity dries up, there is giant demand for it. This happened in 1997-8 with the “Asian contagion” -— with the competitive currency devaluations. Under these conditions, stocks can be vigorously sold off. This occurred as well in 2008-—liquidity dried up when banks discovered that all the other banks they were used to lending to were as big liars as the bankers knew every one of themselves was. Nobody was willing to lend. Liquidity became scarce. ULTRA scarce.
This is when you see your conservative JNJ and MRK sold off, because these stocks which kind of just sit there and trade in very narrow ranges become “sources of funds”. Because the margin clerk calls you have sell what you can, not what you want to. And that’s when you see massive index selling.
And of course, this seems to happen concurrently with increased tensions in Korea that the media is absolutely moot about and yes, 99 times out of 100 these things amount to nothing.
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