Posted on 03/02/2014 3:52:03 PM PST by MeneMeneTekelUpharsin
Dow futures down -127 at this time.
(Excerpt) Read more at money.cnn.com ...
I hear Russia banks raised their rates earlier today
S&P500 will probably drop to about 1800 just on profit taking; what happens after that is anybody’s guess. The market is in the stratosphere, but it generally has to go up until the last short finally gives in, and then it tanks—and it has to tank sometime in the next year or so, corporate earnings are not going to be sustainable in the present political environment. (NB: don’t invest on the basis of my harebrained speculation here :> )
I don’t think 120 points is panic time.
March 4th is Tuesday.
Of course 120 points is not panic time. Neither is 500 points. Nor is 1000 panic time. Panic time is when the people elect the person they elected President of the United states the SECOND TIME. We’ll see later why that was a reason for panic.
In the era of that person his shield has protected him from really bad market days. Some days it has almost been comical. Thinking it has to end sometime.
1000 points and I would be showing some concern. ;^)
Of course it is Ukraine. They didn’t drop suddenly , they just opened for trading. If the Dow is not off 100 points I’d be surprised. Remember that it takes over 160 Dow Points just to move 1%.
Bfl
?
Interesting, tho that was "Data as of 6:57pm ET". As of this post the real time contract on barchart is
| DJIA | DJH14 (Mar '14) | 16,307s | +35 |
This stuff changes big time. Let's see what tomorrow brings.
America could survive Barack Hussein Obama, but it can not survive a population which would re-elect him.
Or, to paraphrase the wookie, for the first time in my entire life I am ashamed of my country. Perhaps terminally.
100%.
Obama/Hitlery/Lurch effect.
Yellen too.
Market tanked on CHINA PMI last time...number released Friday night lower than last time.
corporate earnings are not going to be sustainable in the present political environment
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Nothing harebrained about that at all. I think your comment makes perfect sense. The market was overheated and poised for a fall for numerous reasons, especially a toxic political environment that’s bad for business.
As Buffet has repeatedly said, be fearful when others are greedy.
The 'war', if such occurs in Ukraina and/or Crimea, is not apt to be a major mkt mover worldwide. To the practical observer, Putin can take over or control Ukraina, effectively, whenever he likes. The more interesting question is: will Ukraina partition itself into two nations with the dividing line being, of course, the Dniestr.
Remember: this is "central bank week" plus the ridiculous non-farm payroll burlesque comedy. The CBs of Canada and Australia won't do squat. The ECB, aka Dildoes United, if they offer any changes at all, will content themselves with cosmetic ones. The BLS will, as usual, pluck a "jobs" number out of its arse, then quietly revise the figures lower next week.
1800 is a possibility this week on the SP. Traders should consider a **light** position long the March SP puts, perhaps the 1830 strike, for a quick hit.
Crude and the products rate to stay well bid all week on the Russian/Ukrainan uncertainty. Natural gas will be bid early on this week, but likely will tail off toward week-end as the last major US cold wave starts to vanish.
Good trading to all, and FReegards!
1000 points and I would be showing some concern. ;^)
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I would be shopping for rock solid dividend payers. :)
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