You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Poll: Sell in May 2011?
- Thread starter shortie
- Start date
Who writes this pathetic nonsense, US stocks "PLUNGE"
A 1.25% drop in the markets is a "PLUNGE"???? HAHAHA
A plunge is something like 8% not 1.25%....idiots!
US stocks plunge on European debt worries
US stock markets sharply lower amid growing European debt worries
ap
FILE - In this file photo taken May 2, 2011, trader Christopher Forbes works on the floor of the New York Stock Exchange. Heightened tensions over Europe's debt crisis combined with weak economic surveys to send world stock markets sliding on Monday, May 23, 2011,with the euro dropping below $1.40 for the first time in two months. (AP Photo/Richard Drew, file)
Francesca Levy, AP Business Writer, On Monday May 23, 2011, 11:49 am
NEW YORK (AP) -- Stocks are plunging after warnings about the finances of several European countries stoked fears that the region's debt crisis is worsening.
The Dow Jones industrial average is down 169 points, or 1.4 percent, at 12,342 in midday trading. The S&P 500 is down 19, or 1.4 percent, at 1,314. The Nasdaq is down 51, or 1.8 percent, at 2,752.
Global markets are closing lower Monday after Standard & Poor's said Saturday that it could lower Italy's debt rating within two years.
Investors are also concerned that Spain's government will have difficulty enforcing spending cuts after a defeat for the ruling Socialist party Sunday.
On Friday debt a downgrade for Greece raised fears that the country could require more financial help following a $157 billion loan package it received last year.
A 1.25% drop in the markets is a "PLUNGE"???? HAHAHA
A plunge is something like 8% not 1.25%....idiots!
US stocks plunge on European debt worries
US stock markets sharply lower amid growing European debt worries
ap
FILE - In this file photo taken May 2, 2011, trader Christopher Forbes works on the floor of the New York Stock Exchange. Heightened tensions over Europe's debt crisis combined with weak economic surveys to send world stock markets sliding on Monday, May 23, 2011,with the euro dropping below $1.40 for the first time in two months. (AP Photo/Richard Drew, file)
Francesca Levy, AP Business Writer, On Monday May 23, 2011, 11:49 am
NEW YORK (AP) -- Stocks are plunging after warnings about the finances of several European countries stoked fears that the region's debt crisis is worsening.
The Dow Jones industrial average is down 169 points, or 1.4 percent, at 12,342 in midday trading. The S&P 500 is down 19, or 1.4 percent, at 1,314. The Nasdaq is down 51, or 1.8 percent, at 2,752.
Global markets are closing lower Monday after Standard & Poor's said Saturday that it could lower Italy's debt rating within two years.
Investors are also concerned that Spain's government will have difficulty enforcing spending cuts after a defeat for the ruling Socialist party Sunday.
On Friday debt a downgrade for Greece raised fears that the country could require more financial help following a $157 billion loan package it received last year.
News matches the price action. We had the same events while the markets were rallying but the headlines would read "IPO's and mergers drive markets higher" or "Unemployment applications decrease..."
Tomorrow the market will retest lows from today then rally to try and close the gap then after failing that later in the week Wed or Thursday they'll drop again....
Tomorrow the market will retest lows from today then rally to try and close the gap then after failing that later in the week Wed or Thursday they'll drop again....
Quote from gnode:
I think we are headed for a painful decline. This is why I went to cash in April.
There are very few bargains to buy. Bond yields too low. Earnings yields too low.
My charts went bearish about 2 weeks ago. I don't know when the turning point will be.
Agree. However the stick in my mud is the monthly spoos chart. It wants to retest 1500 in a bad way. When? Summer lows, Fall rally, rollover and then plunge? Gotta trade what you see and for now what I see like you is weakness across the board except select defensive stocks like DF.
I just don't see it getting to 1500 any time soon. Maybe if the Fed comes out with QE3 but I think that is not likely given the PPI numbers. Any more printing is going to hurt profit margins more than it helps.Quote from Lojanica:
Agree. However the stick in my mud is the monthly spoos chart. It wants to retest 1500 in a bad way. When? Summer lows, Fall rally, rollover and then plunge? Gotta trade what you see and for now what I see like you is weakness across the board except select defensive stocks like DF.
I think we just need a breather before we can keep going up. We need real earnings.
Apologies in advance if anyone posted something like this before, but you really don't want to be too short in the 3rd year of a President's term. As Ed Hart once observed on FNN way back, the most reliable economic cycle on Earth is the Presidential election cycle:
The Economic Sweet Spot of Presidential Terms
My longer-term stuff's been bearish these past two weeks as well, and I've cut back pretty hard. But I don't expect that to last much past June at most. If the economy continues to sputter, every incumbent, including of course the Prez, is going to be putting downright irresistible pressure on the Fed to loosen up even more.
The Economic Sweet Spot of Presidential Terms
My longer-term stuff's been bearish these past two weeks as well, and I've cut back pretty hard. But I don't expect that to last much past June at most. If the economy continues to sputter, every incumbent, including of course the Prez, is going to be putting downright irresistible pressure on the Fed to loosen up even more.