Posted on 05/09/2012 6:26:12 AM PDT by blam
Thinking of getting back in at S & P 1340.
” U.S. futures are lower, point to a slightly negative open. [...] Dow futures are now down 100 points. “
Well, the Plunge Protection Team barely managed to pull the Dow back from the brink yesterday - wonder if they have enough ‘magic’ left to repeat that feat today...
Down 111 as I post
Calling it “cratering” at this point seems more anticipation than observation. Might crater, but ~3% isn’t.
People are dumping gold.
Beck predicted this.
Time to buy more rice and beans.
They are selling it all: stocks, oil, gold, euros. Dollar and bonds zooming up. But we are still in a bull market, especially for tech.
Jim Rogers: I Don't See This As A Great Time To Buy Stocks At All
"TURN THOSE MACHINES BACK ON!"
Just thinking about it. May wait until 340.
LOL.
"It's a flight to poverty!"
Have thought there were some days since January 20, 2009 where, based on events, conditions and so forth the DJIA should have had a very serious drop similar to those we saw in the Fall of 2008. But, it’s never happened under Obama.
Major Seasonal Cycle on May 5th points to 1-3 weeks of weakness in stocks. I do expect the market to attempt to rebound after a brief sell-off. It is the August 5th Major Seasonal Cycle that looks like the final high. I will expect stocks to top out with that cycle before cratering into 2013.
A 113 point futures fall on the Dow is less than 1%. Sorry, that doesn’t qualify for a headline of ‘cratering’. Hell hath no fury like a bear scorned; which is what they should be if they’ve been bearish for the last three years.
It’s hard to take anything that comes from TBI seriously when they use hyperbolic terms like ‘cratering’ to describe a mere down day. The Dow’s down 135 as I write...that;s hardly cratering.
I see these guys at TBI and other financial prophets of doom more as cheerleaders for a collapse than cogent advisors against calamity. They want a collapse...they're hoping for chaos. That's how it appears to me.
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