Skip to comments.Stocks derailed by high-flyers; worst day since 2011 for Nasdaq
Posted on 04/10/2014 1:08:09 PM PDT by Hojczyk
DJIA Dow Jones Industrial Average 16170.22 -266.96 -1.62%
S&P 500 S&P 500 Index 1833.09 -39.09 -2.09%
NASDAQ Nasdaq Composite Index 4054.11 -129.79 -3.10%
U.S. stocks were slammed on Thursday, with high-flying technology and biotech shares leading the declines that had the Nasdaq Composite posting its worst session in more than two years.
"The market is coming to its senses in some of the high-flying tech names; it looked like there were some pretty hefty amounts being paid for the prospect of eventual earnings. Any of us in the market more than 15 years feels the hot breath on the backs of our necks when we see such high prices being paid for tech stocks," said Jerry Webman, chief economist at Oppenheimer Funds.
(Excerpt) Read more at cnbc.com ...
Dot Com Bust Two
“Momentum stocks including Tesla Motors, Facebook, Google, Priceline Group and Amazon.com declined...”
Worthless stocks discover they are propped up by unicorns and truthful Democrats.
Meanwhile, my heavily-shorted AT&T stock went up.
Soetoro is a dead man walking.
Buy carefully, and those only stocks that are suitable to your investment objectives and tolerance for risk. And even then, only after extensive due diligence is performed. Never buy just because the market sold off.
Know what you are buying.
Don’t try and catch a falling knife.
Excellent advice. A falling knife can quickly turn into a falling hatchet.
1.62% is hardly a correction.
“1.62% is hardly a correction.”
It is when stocks are the only place left to park your money.
Bonds are next to worthless and interest returns are near zero.
Traditional Americans got the message about how High Tech companies felt about us.... Why would you ‘buy’?
I’m bearish, but: this is just people raising cash for tax day. Should bounce back after 4/15. (Or after option expiry on the 17th if the tax selling triggers re-hedging.)
Sheesh. What’s happening at FR? This is big news.
Well, news maybe but imho really not all that big. Sure, we got flashy headlines (worst session in more than two years) but that's a bunch of mindless hype to scrounge up website hits. OK so trading today was exiting and all, but final numbers were a bit less dramatic; here're how the major indexes are really doing:
While they may be testing support levels they haven't quite broken through. Personally I'm expecting tomorrow to be interesting though...
A stock broker once told me the stock market reflects what is happening six months from now. What is happening six months from now? An election where the Republicans take over, leaving Obama with nothing to do except veto, veto, veto . ..
Let it burn. Let Obama’s destruction of the economy hit the moguls and crony capitalists hard.
I'm far from an expert, but my opinion is that it now reflects, in the short term, what the plugged-in super-speed electronic traders see in literally microsecond to microsecond buying and selling trends. That's why it could be up >150 points on a Wednesday, and down over 260 points on a Thursday. I absolutely agree with a suggestion I saw that would mandate a 10% ‘penalty’ on any transactions that involved buying and selling the same stock on the same trading day. This type of penalty would go a long way in eradicating the volatility created by day traders.
It’s a yawn when you look at the charts.