You Just Witnessed The Third Biggest Weekly DJIA Drop In History

Zero Hedge ^ | 09/22/2011 | Tyler Durden

[SeekAndFind]

A dearth of knife-catchers and bottom-callers suggests that our views on a broad swathe of investors being caught unhedged and offside by Bernanke's relative inaction was correct. By the look of today's huge selloff, investors will become increasingly aware of our recent post on the difference (risks) between owning stocks and bonds. The equity market remains a market in chaos as the following charts show. We can only assume they must be extremely good at discounting whatever it is that talking-heads believe on a tick-by-tick basis - just look at the flip-flopping in the last two months (and in 2008/09).

Daily Changes in the DJIA:

 

And weekly changes in the Dow - this last week is almost a 4 standard deviation move and third largest ever (with 9/11/01 and 10/03/08 the only two larger in absolute size!).

[McGruff]

[tcrlaf]

Comrades, Take heart!!

It’s a glorious time to be alive - I never expected to see the USSA taken down in my lifetime - and re-fabricated into the People’s Paradise it’s about to become.

I am humbled by the wisdom, foresight, and abilities of our Dear Leader, even more than before.

ALL HAIL DEAR LEADER!! ALL HAIL THE ONE™!!
(Or you will be reported to AttackWatch as a Thought Criminal, and be re-educated.)
(You aren’t a Thought Criminal, are you Prol?)

[pgkdan]

Not really...week’s not over.

[BuckeyeTexan]

Don’t be hysterical. It’ll never happen to us. /s

[AngelesCrestHighway]

“We still have one trading day left in this week.”....

And that one could be very interesting as traders would not want to be long the market going into the weekend.

[FlyingEagle]

Almost all gainers today are ETF shorts.

[AngelesCrestHighway]

Again, I want to give all the idiots who voted for Obama a special thanks for all these disasters.....

[Leaning Right]

"Stock markets go up, stock markets go down." President Barack Hussein Obama

I guess that means he'll get a Nobel prize in economics to go along with his Nobel peace prize.

[unkus]

Don’t be hysterical. It’ll never happen to us. /s

---

We can hope that it won’t get as ugly as many say it will.

[OB1kNOb]

We’re approaching the Perfect Storm/Earthquake/Tsunami/Volcanic eruption/Plagues/Pestilence all rolled into one, it feels like.

[BuckeyeTexan]

We can hope, but we should also prepare for even worse circumstances than are projected.

Word to the wise: stock up on food, supplies, and ammo. You’ll need it.

[Walmartian]

Not everything went down. $VIX was up 4.03

[Sawdring]

Do you think this just started with Obama? They have been papering over this disaster since LTCM at least. You can only mask reality for so long.

[unkus]

We’re approaching the Perfect Storm/Earthquake/Tsunami/Volcanic eruption/Plagues/Pestilence all rolled into one, it feels like.

---

0bama is a curse on America and all things good and decent.

[unkus]

Absolutely!

[familyop]

Don’t be late. ;-)

[Dubya-M-DeesWent2SyriaStupid!]

Care to give a break down of why these particular ones?

[Dubya-M-DeesWent2SyriaStupid!]

He is the arms, ears and mouth of the beast.

[COUNTrecount]

Take heart, all is not lost.

Michelle Obama Flashes Over $42,000 in Diamond Bracelets

Michelle Obama, the most glamorous of all U.S. First Ladies, dazzled the crowd at a DNC fundraiser Tuesday night wearing over $42,000 worth of diamond bracelets ($42,150 to be precise). Designed by Katie Decker, a 23-year-old Texas-based jeweller, the First Lady dropped a few dimes on some serious bling:

(Daily Mail) - The First Lady, 47, chose to wear Miss Decker’s Lotus cuff, with 2.9 carats of diamonds, costing $15,000, the Gothic cuff with 2.17 carats of diamonds, costing $15,350, and the $11,800 Quatrefoil bracelet with 1.73 carats of diamonds to the Gotham Hall event.

[SeekAndFind]

We have ETF’s for Gold and Silver prices.

Do we have an ETF for Diamonds?