Skip to comments.Stocks Plunge Deeper Into Oblivion
Posted on 08/04/2011 9:58:40 AM PDT by AAABEST
Equities markets fell precipitously in New York as data highlights continued weakness across the board, from labor markets to manufacturing. Europe, falling off a cliff as authorities try to limit contagion, while Berlusconi tells investors Italys markets are sound, havent helped either. All three U.S. equity indices were trading deep in the red, having approached losses of 3%.
(Excerpt) Read more at blogs.forbes.com ...
They keep blaming it on other countries problems when Reuters just said, Bernanke and Obama are out of ideas.
All those shareholders are traitors to Barry. If they’d just fall into line and do what he says, everything would be all right, right?
Gold down as a result, as Gold is being sold to cover Margin Calls.
It’s so great we have a Kenyan in office.
Who exports machine-guns to drug-dealers.
And trashes the economy.
I just used an anagram tool and put in the words “Hope and Change”.
And wow, I just discovered that “Hope and Change” is just an anagram for Michelle Obama, “A Dang Cheep Hon”
We did TARP and the housing market tanked anyway.
2. "Unemployment will skyrocket if we don't pass the stimulus."
We passed the Stimulus and unemployment skyrocketed.
3. "The auto industry will be destroyed if we don't bail out GM and Chrystler."
We bailed out GM and Chrystler and they are still on a path to destruction.
4. "If we don't raise the Debt Limit, our credit rating will be lowered and the stock market will tank."
We lowered the Debt Limit and . . .
We did not spend enough money on the stimulus bill. Tea Party terrorists are at fault. /s
The high in the stock market went in with the killing of Osama Bin Laden. In June you had the Golden Ratio in time in conjunction with the .76% retracement that suggested we would move much lower. The June rally made a lower high from May producing the right shoulder of a head-n-shoulder formation. None of this should be a surprise to anyone. There is more to come! GDP will be sub-2% with 9.25% unemployed and 22% under-employed ... not good!
So, when does gold and silver go back up? What is the bottom?
They’re at the bottom now Terry. It’s just another raid/paper sale and the physical buyers are already springing back in.
Facinating to watch. Reminds me of Dough Heffernan going nuts sitting at the computer watching some stock he purchased tank.
This sell-off in stocks maybe is a way to send a message to the people in charge of borrowing more money (just don't know). I could venture a guess, but my opinion is not to be trusted, since I do not support the zer0. The winners thus far have been selected by the zer0 administration, not the market .... imho
Wow...obama must be thrilled. Dow’s down 342 at 1:46 pm.
Thanks to everyone who terrified Cemex (CX) holders today. I am sooooo grateful. You will never know how much. :)
Went to -405 a few minutes ago. Wow. :)
Happy 57th birthday Mr. Obama.
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