Posted on 06/03/2012 9:40:52 PM PDT by hope
If you get reamed don't say you weren't warned.
In 2008 there were repeated instances where the futures gapped ~20 handles overnight, clearing out the stack and gapping over your stop, filling you on the other side for hideous losses. Stop orders are worthless when this happens -- all they do is lock in a loss as you fill on the other side (which usually is the extreme print) and then the market reverses some of the move, costing you twice.
(Excerpt) Read more at market-ticker.org ...
The NYSE has invoked rule 48 for tomorrow morning.
This is gonna get ugly.
True title, I left off by mistake. “Get OUT Of The Futures Markets”.
If a AdminMod could fix that would be awesome!
Can you tell us what rule 48 is?
Have you invested in metals and commodities? And I ain’t talking gold, silver and sow bellies, I’m talking guns, ammo and long term storage foods.
I hope I am wrong and somehow the world’s economy does not crash and burns, but face it the piper will have to be paid! We might not fall as far or as hard as many countries, but I believe a fall of some kind is inevitable.
You either prepare and stand on your own beholden to no one or you become dependent on others to provide your basic needs and become thier‘serf’. Me I don’t want to be beholden to anyone for providing what is needed for me and mine. I certainly don’t want to have to kiss some ‘gubberment’ third class bureaucratic to try and coax some help from them, I don’t want some ‘jack booted’ thug herding me in line and telling me where to stand, sit, eat or sleep. And last but not least I don’t want to be shut up in with a bunch of ‘zombies’ and have to worry about not only trying to get basic necessities but having to fight to keep what I manage to get.
Now anyone thinking that prepping is foolish ask you what’s easier telling your children and loved ones why you prepared or explaining to them why you didn’t?
But if any provide not for his own, and especially for those of his own house, he has denied the faith, and is worse than an unbeliever. 1 Timothy 5:8
But then someone has to stand on the bridge waiting for FEMA to bring them a bottle of water, an MRE and a warm blanket so as to provide the Network Anchors their background ‘Money Shot’. I wonder how that will workout for them?
Face it we’ve kicked the financial can so far down the road that we are running out of road and the can which was once the size of a soda can is now the size of an oil drum (Try kicking that!)
For those who are just starting or are old hands at prepping you may find my Preparedness Manual helpfull. You can download it at:
http://tomeaker.com/kart/Preparedness1j.pdf
NOTE! THIS IS A FREE DOWNLOAD. I DO NOT MAKE ONE CENT OFF MY PREPAREDNESS MANUAL!
For those of you who haven’t started already it’s time to prepare almost past time maybe. You needed to be stocking up on food guns, ammo, basic household supplies like soap, papergoods, cleaning supplies, good sturdy clothes including extra socks, underwear and extra shoes and boots, a extra couple changes of oil and filters for your car, tools, things you buy everyday start buying two and put one up.
As the LDS say “When the emergency is upon us the time for preparedness has past.”
Or as the bible says: A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.
NIV Proverbs 22:3
Lastly this for the doubters and the scoffers.
“There is no greater disaster than to underestimate danger.
Underestimation can be fatal.”
By the way you will find both God and Jesus mentioned in my Manual.
Futures trading has been suspended to prevent panic
Futures trading has been suspened
Hit “Report Abuse” addressing it as Dear Moderator and leave a brief note as you just did in your post that usually gets the Moderator’s attention to your request and in cases like this usually get responded to rather quickly.
Done...Thanks!
There were several good articles on Fridays invocation of rule 48 including one in the Milwaukee Journal Sentinel.
Google has them all scrubbed now.
Bottom line is wallstreet invocked rule 48 Friday afternoon to try to prevent a dive in pre market trading tomorrow morning.
That’s from Friday. Is it still in effect?
Thanks for the post, I hear ya! Certainly have been paying attention and preparing for some time. Praying many here do the same.
Its intended for the bell today
Maybe helicopter Ben will bail out Europe on our children’s back’s printing more money. /s
I sent my own message as well. BTW;thanks very much for the article.
A contracting economy and printing money is not the answer.
We need to let people be free to create and invent.
As always, thanks, Kartographer.
The only thing people have been able to point to as positive during this administration is the market, and it’s bunk. it’s all pump and dump. Morgan Stanley is getting rich while we get screwed.
All gains for the year have been erased and more as of last friday for the common man.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.