Dow Flirts With 12,000-Mark; Banks Lag (Now below 12,000)

cnbc.com ^ | June 10, 2011

[ilovesarah2012]

Stocks extended losses Friday, pointing to a sixth-consecutive losing week, after a dismal trade data from China underscored fears of a weakening global economy.

[Red Badger]

Going down in flames....................

[Mikey_1962]

I am out of stocks. I still buy them, but all my holding are in gold and bonds.

[Rodm]

The market knows the US economy has entered another recession.

[ilovesarah2012]

Now down 137 but oil also down to a little over 99.

[Red Badger]

Invested in Gold and Bond? Good choice...............

[SE Mom]

Yep. I flip a lot of em- but I wouldn’t hold one- even over a weekend!

[NeoCaveman]

The market wants its heroin, aka QE3, and will go down until it gets it. My guess is around Dow 10,000.

[jpsb]

Down 150, how soon before the Feds start buying? Do they have enough money left to buy the Dow back up to 12000? Make that down 160.

[Rodm]

Down 160

[Buckeye McFrog]

in the words of the Prophet...

“I hope he FAILS!”

[Rational Thought]

Lost in all this is another Obama success story....GM (Government Motors).

The IPO price was $33.00 in November 2010. The current price is now 12% lower, all this during a recovery!

http://data.cnbc.com/quotes/GM/tab/2

[ilovesarah2012]

I don’t see how he can be re-elected. Of course, I don’t see how he was elected to begin with.

[Deo volente]

QE2 expires on June 30th. Watch for Bernanke to rev up QE3 soon.

In other news, a Greek default is looking more probable by the day.

[b4its2late]

“I hope he FAILS!”

Rush was right. Based on that and what we know about him prior to being in office, we figured he would. It's just a question of whether the country is smart enough to give him the boot in November.

[NeoCaveman]

Peace be upon him.

[GonzoGOP]

in the words of the Prophet...
“I hope he FAILS!”

There is no Gipper but The Gipper and Rush is his Prophet.

[TSgt]

No QE3...

The head of Appaloosa Management said stocks would have to fall considerably more before the Fed would start another round of quantitative easing. "If (the S&P 500 falls) a couple hundred points and financial conditions tightened maybe they would reconsider," Tepper wrote to CNBC. "But there is no logic to QE3 now and the only result might be more food and energy inflation."

Wait, I take that back. Hello QE3!

[algernonpj]

Down 150, how soon before the Feds start buying? Do they have enough money left to buy the Dow back up to 12000? Make that down 160.

All they need to do is create a few more digital 1's and 0's to the account.

[dools0007world]

I’m curious, why do you think bonds are more secure than stocks?

I sold all my stock losers over three years ago and bought gold and silver. Took a hit on stock sales, but have more than regained the ground with precious metal. The performing stocks that I retained have continued to perform though at a slower pace than gold and silver.

I deliberately chose to stay out of bonds because they are a creature of government. We all know the government is broke. Moreover, the intrinsic value of government issued instruments is based on GED and/or GNP coupled with debt burden. The US is in the toilet. It’s only the size of the US economy that is holding off the coming catastrophy if we adhere to the Usurping Marxist Onada’s policies.

IMHO gov’t bonds are not worth the paper they’re printed on.