The ups and downs are making my head spin! What is so different between yesterday and today?
10,802.36
-437.41 (-3.89%)
Real-time: 11:02AM EDT
No phony pumping today?
We're in uncharted waters with huge variables coming into play. Uncertainty rules, as any level of predictability is gone.
The volatility is insane. Most investors don't want to deal with having a good day then losing their shirts the next.
If the 5 day chart were an ECG, Wall St. is having a heart attack, not to mention the wild intraday swings.
There will be up days when some people will get back in - possibly covering shorts. Because yesterday the market was up, today some folks who procrastinated about getting out dumped their stock because they know the market is going to go down and thought they saw a chance. But that didn’t last long. People are starting to run for the exits. I think that there have been people/groups propping us up for a while because the high market valuation just doesn’t make sense. They are pulling out the rug now. Just part of the attack against our way of life.
The ups and downs are making my head spin! What is so different between yesterday and today?
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in between the two, was the European stock market.
and there are rumors that the LARGEST french bank could go under, mainly because of their loans to Greece.
their stock just went down about 17%.
so this would have some effect on the USA markets today.
Good question. I’ve been asking the same thing. For at least two years now Wall Street economic indices have not even come close to charting the actual economy. IMHO “Street” leadership has been in the tank for The Usurping Marxist Onada. Seems that every positive initial unemployment, manufacturing, GDP report drove the Market up.
However, when the “unexpected” and “surprising” downward revisions came the Market ignored them.
I would love to know what finally drove the S&P to act. That said, it had been openly warning it would downgrade US rating if their were not significant and immediate spending cuts. Our Dear Leader gave it the finger.
I got the most amazing letter from Wells Fargo the other day. My financial advisor works for WF. The letter said WF would remove my investments from “financial advisor” status because of an absence of trade activity. Keep in mind WF gets paid a % of the value of my investment portfolio for this service. That includes my gold and silver investments. And no where in my contract with WF does it require to me to trade to maintain the account. Moreover, WF did this without consulting my financial advisor.
Shortly after Onada stole the presidency, I sold all my loser stock. I kept the good stuff, because I think the country will regain its economic senses after Onada is ousted in 2012. The money earned from the stock sale was used to buy gold and silver. As anyone knows who has a clue gold is appreciating nicely. I’m making a pile of money from it. WF gets paid 1% of the value of the metals so it’s making money right along with me.
Then this dopey letter. I many be wrong, but the only entities playing in the stock market are timers, shorters etc. In other words speculators and other ne’er do wells who add nothing to the value of the stock. Institutions may be in the game to some extent, too.
For WF to pretend that everything is perfectly normal right now is beyond understanding. 13-15 million people are unemployed right now. We have a Marxist in the WH and every one of his policies are designed to wreck America. Europe is in a shambles, too. England is burning. And were in a fight to the death with a bunch of 13th century religious terrorists.
Yep, business as usual.