Posted on 08/24/2015 5:50:43 PM PDT by SkyPilot
On Monday, the Dow Jones Industrial Average plummeted 588 points. It was the 8th worst single day stock market crash in U.S. history, and it was the first time that the Dow has ever fallen by more than 500 points on two consecutive days. But the amazing thing is that the Dow actually performed better than almost every other major global stock market on Monday. In the U.S., the S&P 500 and the Nasdaq both did worse than the Dow. In Europe, almost every major index performed significantly worse than the Dow. Over in Asia, Japanese stocks were down 895 points, and Chinese stocks experienced the biggest decline of all (a whopping 8.46 percent). On June 25th, I was not kidding around when I issued a “red alert” for the last six months of 2015. I had never issued a formal alert for any other period of time, and I specifically stated that “a major financial collapse is imminent“. But you know what? As the weeks and months roll along, things will eventually be even worse than what any of the experts (including myself) have been projecting. The global financial system is now unraveling, and you better pack a lunch because this is going to be one very long horror show.
Our world has not seen a day quite like Monday in a very, very long time. Let’s start our discussion where the carnage began…
Asian Markets
For weeks, the Chinese government has been taking unprecedented steps to try to stop Chinese stocks from crashing, but nothing has worked. As most Americans slept on Sunday night, the markets in China absolutely imploded…
As Europe and North America slept on Sunday night, Chinese markets went through the floor — the Shanghai Composite index of stocks fell by 8.49%...
(Excerpt) Read more at theeconomiccollapseblog.com ...
Woohoo! I made my first investment in 3 years into the stock market. It’s about time there was a sale on.
I only have a tiny amount of stock. If I lose it I lose it. As for money out of banks, I don’t have a boatload of that, either, and I will just take my chances by keeping it where it is at. I can’t take it with me when I die. I’m not going to waste the life I have left fretting over what might happen. —within reason. Maybe that is stupid, but that’s me.
He said....
It was the 8th worst single day stock market crash in U.S. history
When you're talking about "worst crash", only a moron would mean points and not percentages. The second worst day in market history was a drop of 38.33 points. Would that even make the top 2000 now for worst point drop in history?
To claim the 8th worst point drop is equivalent to the 8th worst day is moronic.
he is a “moron.” Does that about sum it up?
Yes. I knew he was a moron well before today, this was just more proof.
And the third worst was a drop of 7.94 points. LOL!
Well, sure. Having a few days of supplies on hand is simple prudence. We got iced in for a week here in North Texas a couple of years ago and the grocery stores were looking really sparse after the first 3 days.
The percentage matters more ... but it’s no where near as dramatic...
There is currently $4 Trillion in liquidity out there from what has been sold since the highs of over 18,000 a couple of months ago. No need to print more. There is plenty on the sidelines waiting to be deployed.
If he said it was the 50th (or 100th) worst percentage decline, people would yawn.
Hopefully the commies disguised as capitalists at Facebook, Google and Twitter took it in the shorts.
What you’re saying is true Todd... the truth would be a yawn... has he tied it to global warming yet? Now that would be funny.
(that said, it is a little scary...)
I don't care if you use 7-8-9-10-11-12% stop loss stops...it's whatever your risk tolerance is. But use stops. I've seen too many people think..that a stock they bot at $30 is a better buy at $15...and they double down..and the stock is junk.
Ditto that..........
You may get your "wish" between now and October. Tell you what, I'll send you a special ping when/if the single day percentage makes your Top Ten list.
Anyway, I have never gone wrong holding stocks for the long haul. Pick them carefully and hang on to them.
And it’s insanely up over 600 points as far as futures go.....
Mitch will stop posting stupid stuff? Cool.
*Michael* will stop posting stupid stuff?
None of it is about the US economy per Carl Quintanilla’s report leading NBC Nightly News last night. Not in the Obama Era.
So, how’s that alleged economic recovery going?
I’m not caring too much
yet
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