Posted on 09/01/2015 1:07:17 PM PDT by blam
Myles Udland
September 1, 2015
It was an ugly day for the markets, as each of the major US indexes dropped nearly 3% to start September, which is traditionally the weakest month of the year for the stock market.
Oil got slammed on Tuesday, falling 8% with West Texas Intermdiate crude prices falling back near $45 a barrel after a 30% run-up in just 3 days saw WTI erase most all of its August losses.
Stocks started the day deep in the red and the selling pressure hardly relented at all into the closing, sending stocks out on their lows for the second straight Tuesday.
First, the scoreboard:
• Dow: 16,058, -470, (-2.8%)
• S&P 500: 1,913, -58, (-2.9%)
• Nasdaq: 4,636, -140-, (-2.9%)
And now, the top stories on Tuesday:
(snip)
(Excerpt) Read more at businessinsider.com ...
UVXY over the past week:
WOW.....!!
Why are you posting? Stocks go up stocks go down. ;-)
Stocks have advanced from SPX 666 to over 2100 recently. That is 215% increase in 7 years! Today it is down 3%,
That is Oil went up 20% in last 3 days before falling 8% today.
Keeping things in perspective.
From the WSJ
“For us, it’s a question of ‘Are we missing something?’” said Stephen Freedman, senior investment strategist at UBS Wealth Management Americas. “Is this downward volatility telling us something about the fundamental picture in the U.S. that we’re not seeing?”
Hmmmm....could be.
Those Wall Street Computer algorithms do a pretty good job of turning churn into inflated value, don't they?
All the Stock market is anymore is big monied computer systems bidding against each other coupled with the inflationary policies of the Fed and FedGov.
Most of that growth since Obama tanked the market back in 09 is just bubble.
This is 1928 or 1929 stuff.
I got asked this question offline, and I didn’t have an answer, so I’ll ask some smart people:
As opposed to all the percentages and points, can anyone put a DOLLAR AMOUNT on what’s evaporating? Just how much wealth is being lost?
Might be a good time to put in buy orders overnight for apple, amazon and powershares qqq.
Reminds me of the rental car scene in Planes, Trains, and Automobiles...
They will be up tomorrow.
Dow 12,000 here we come!
Don’t want to lose?
Then don’t sell.
That’s it. Don’t sell.
Might be a sucker bet too.....lol
Don’t sell????
LOL
Smart money adjusted their positions last month...
Go ahead.
No wealth is lost. Market has more than tripled since 2009.
Which is over 200% gain in less than 7 years.
Now it is down 10% from recent highs. Not YUGE!
Last week, $1.5 Trillion of wealth was lost.
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