Posted on 04/15/2013 10:34:34 AM PDT by blam
Now Stocks Are Getting Slammed Too — Dow Off 185
Matthew Boesler
April 15, 2013
Gold is getting destroyed today.
In fact, the entire commodity complex is selling off pretty hard.
Stocks are also coming under heavy selling pressure, and unlike commodities, they are currently making new intraday lows.
Right now, the S&P 500 is down 1.5 percent, trading around $1564 (and the Dow Jones Industrial Average is down 185 points).
The biggest laggards today probably won't surprise anyone – they are mostly part of the bigger commodities theme. Freeport MacMoRan, the gold miner, is down 7.3%, while Cliffs Natural Resources is down 5.9% and Pioneer Natural Resources is 5.4% lower.
Meanwhile, homebuilders are getting hit too. PulteGroup is down 5.3%, and DR Horton is down 5.0%. Earlier this morning, NAHB's monthly index of homebuilder sentiment unexpectedly fell.
(There's that word again)
(Excerpt) Read more at businessinsider.com ...
Interesting ... was our currency devalued and nobody told us?
The DOW hasn’t had many really bad days since January 20, 2009. We’ll see how this goes.
Errr - a devalued currency should result in higher commodity prices not lower (in dollar terms).
Found out I’m not economist. Knew this would happen. Well, no I didn’t. Am not an econmist.
Mission accomplished!
Yup. Sure looks like it.
Wasn't it three years ago that we had 'green shoots' in the spring?
end of month
Lord let us make it past May 15th and I’ll become a betrer skeptic of tinfoil theorists
Not likely. But....
“Watch The Metals, When They Dip. It Will Be A Good Indication That Things Are About To Happen.”
Maybe investors/people are just in a really very foul mood, after all today is April 15th, dreaded tax day. Maybe it’ll be better tomorrow. We all knew these daily record breaking DOW numbers couldn’t last forever. Hoping tomorrow is better. :)
Dow is down a Whopping 1.22% today!
Gold is down a Minuscule 9% today!
That was why I said it.
Dammit now even PROTONS are getting smaller!
http://www.freerepublic.com/focus/chat/3008073/posts?page=1
Sell off to cover margin calls on gold?
Market down! Bush's fault!
people contributing to the IRA’s before the tax deadline today probably helped drive up prices recently. Some are now taking profits, no need to panic.
Been the same pattern the last three years. Strength in 1Q, fall off in 2Q, strengthens back up late summer/early fall through the end of the year. Exception was 2011 when it was deeper and longer with the Eurozone sovereign debt crisis and the US Debt ceiling debacle.
Judging by the stock markets the last two weeks have been one of the best periods ever but the reality - hidden behind a smoke-screen of central bank liquidity and jawboning mirrors is dire. The last ten days have seen miss-after-miss in macro economic data - in fact this is the biggest plunge in macro data in 10 months. Despite the stock market's exuberance (at all-time highs), macro data has rolled over dramatically to 4-month lows. Of the major economic data points we have missed 18 of the last 20. With sentiment sagging, GDP revising lower, and earnings season disappointing, we can only imagine the BTFD opportunities that await.
Markit US PMI Miss
ISM Manufacturing Miss
ISM New York Miss
Vehicle Sales Miss
ADP Employment Miss
ISM Services Miss
Challenger Job Cuts Miss
Initial Claims Miss
Trade Balance Beat
Non-Farm Payrolls Miss
Hourly Earnings Miss
NFIB Small Business Miss
Wholesale Inventories Miss
MBA Mortgage Apps Miss
Import Prices Miss
Initial Claims Beat
Retail Sales Miss
PPI Miss
UMich Confidence Miss
Business Inventories Miss
People selling stock to buy cheap (sort of) gold and silver?
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