Pick your weapon of choice!
Posted on 01/20/2016 10:13:11 AM PST by Signalman
The Dow plunged 540 points on Wednesday after crude oil plummeted another 7% and crashed below $27 a barrel. The S&P 500 slumped 3.5% to its lowest intraday level since October 2014. The Nasdaq is down another 3.5%.
It's the latest blow in what's already been the worst start to a year on record for the stock market. The Dow is now down more than 11% in 2016. "Despite improving valuations, global equities continue to get hammered," Bespoke Investment Group wrote in a client note. The firm said the appetite for risk remains "awful." Turmoil in China and the crash in crude oil prices remain the main culprits for the market mayhem. While China's stock market dropped "only" 1% overnight, the energy market was considerably less quiet.
(Excerpt) Read more at money.cnn.com ...
Bingo. My gut instinct is that it will bottom out at around 11,000 to 12,000 and that will be the time to buy again. My deepest sympathies for everyone whose retirement accounts are in the market. However, if they have been in for a long time, they are just going to lose “air money” generated during the past 2-4 year bubble inflation. If they look at the long-term and what the stocks were purchased at, they will actually still be ok.
I’ve also seen some stories that this is a market mechanism for transferring wealth from the masses to the elites. For those who recently invested during the bubble, my deepest sympathies.
Go to the Yahoo finance page and look at the max graph for the Dow, you can look at the normal increase and pretty much draw a line through the highs and lows showing where it should be.
Think more along the lines of a 70% drop.
LOL!
OMG! GAS SPOTTED AT JUST 46 CENTS PER GALLON!
https://www.youtube.com/watch?v=3SQe0Pvq3W4
Still Report #540 - France Declares State of Economic Emergency
https://www.youtube.com/watch?v=l6ak-WbePZw
Wall Street and World Markets Collapsing. Oil/$26 Barrel
https://www.youtube.com/watch?v=Tp9PnE0BbGw
In more positive news silver is up at $14.17USD and gold is $1,104.20USD.
Road Trip!
BEcause the energy savings don’t help when you don’t have a job to go to or money to spend shopping or a car for that matter. Energy may be crashing BECAUSE economic activity is flat or declining, not vice versa.
Yes, but it helps the many people who DO. I think with my monthly gasoline savings, I will go out for dinner and spend MORE money! Point is, its not a zero-sum game
Yes, with so much American-”based” manufacturing on foreign soil, we’re more dependent on oil production, refining and related suppliers and services. Crash oil prices, and the rest of the economy goes with them.
What is David Stockman’s site called?
I believe I found the site. Which article were you talking about—there are many.
Its from yesterday. I think its called “Soon Comes The Deluge”
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