Posted on 10/24/2018 1:33:18 PM PDT by ChicagoConservative27
Stocks are closing sharply lower on Wall Street, led by a swoon in technology companies.
The S&P 500 and the Dow Jones Industrial Average erased their gains for the year.
High-flying companies like Netflix and Amazon took some of the biggest losses Wednesday. Netflix gave back 9.4 percent and Amazon dropped 5.9 percent.
Several companies sustained heavy drops after reporting disappointing results. Texas Instruments, a major chipmaker, slumped 8.2 percent and AT&T fell 8.1 percent.
The technology-heavy Nasdaq composite is now 12.3 percent below its August peak.
The S&P 500 index fell 84 points, or 3.1 percent, to 2,656.
(Excerpt) Read more at nypost.com ...
I’m voting for that!
You'd be surprised at how little it takes these days with the automated programs out there. I saw an analysis of the market swings of a few weeks ago, and it was amazing how small a push it took.
The market's a crap shoot on a day to day basis, and has been for a long time. I'm buying long term, not looking at daily, even monthly ups and downs. As long as it's up when I'm finally ready to sell, I'm good.
Yes, just like in that movie about greedy Wall Street. People with money who trade options can and do cause stampedes.
Traders tend to respond with a “herd” mentality. No one wants to be the last one out the door.
Someone places a put or sale, and a trader notices, checks the news and finds nothing, so figures that a person must know something he doesn’t, so just to be safe, he sells or places a put too. And so forth-initial sales are thus amplified.
There’s a lot of books out there that explain how it’s done. Gold and precious metals are also tinkered with frequently by Central Banks. In addition to the big money greed manipulators, there is also financial warfare, and we have some countries that will do whatever they can to do it.
Soros is known for destroying other countries through financial means. We do have Intelligence mechanisms that were set up after 9/11 to try and detect and defend against this type of stuff.
Yes, manipulation happens. And yes, I’ve been expecting a market sell off in October, especially since Trump has bragged about it so much.
I agree. I meant that we started fighting back in the summer, for the most part. That spooked the market, but the market was overheated and needed correcting to move stocks from weak hands to strong hands.
As someone who had to buy commodities for work, you are I’d anything understating the issue. The market is manipulated every second it is open. From after hours calls to hiding news releases to just ignoring laws.
The market is rigged. Just like everything else
“investors” are stupid because the USA regaining its industrial base should make stocks go up, not down.
Trump appointed the fed chairman but yeah, his raising of interest rates is partially to blame for the Wall Street slow down.
It’s a dry run for 2020.
What goes up must come down
Spinnin’ wheel got to go ‘round
Talkin’ ‘bout your troubles it’s a cryin’ sin
Ride a painted pony let the spinnin’ wheel spin
You got no money and you got no home
Spinnin’ wheel all alone
Talkin’ ‘bout your troubles and you, you never learn
Ride a painted pony let the spinnin’ wheel turn
That is why stocks are going down. The US has strict laws that are harder to bribe your way out of. Moving manufacturing back to the US is not considered good by many corporate executives
Taking profit before the election.
Fixed it.
I like this one better...
Alan Parsons Project - What Goes Up
What goes up, must come down
What must rise, must fall
And what goes on in your life
Is writing on the wall
If all things must fall
Why build a miracle at all?
If all things must pass
Even a miracle won’t last
What goes up, must come down
What must stand alone?
And what goes on, in your mind
Is turning into stone
If all things must fall
Why build a miracle at all?
If all things must pass
Even a pyramid won’t last
How can you be so sure?
How do you know what the earth will endure?
How can you be so sure?
That the wonders you’ve made in you life
Will be seen
By the millions who’ll follow to visit the site
Of your dream?
What goes up, must come down
What goes round, must come round
What’s been lost, must be found
https://www.youtube.com/watch?v=XCXL1ytil-w
Investors selling off today have bought off on the false ( gas lighting ) premise that the Dems are going to retake the HOR. They will be sorry.
Time to stop this nonsense. Should be that if the market drops 250 points in an hour, and there is no crisis, shut the market down for the day. Next day in the next hour, another 250 point drop, shut it down for the rest of the day. Then these idiots will have their cooling off period and realize that all this panic crap is just that and the selling short isn’t going to work
If you forgot to buy stocks at the start of the year, they're holding a do-over.
Buy now at January's prices !!
“Could there be people manipulating the market to hurt the Republicans?”
Of course, it’s possible.
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