Posted on 09/22/2011 9:49:15 AM PDT by TigerLikesRooster
Sept. 22, 2011, 12:12 p.m. EDT
Dow off 400 on Europe, growth worries
Federated’s Orlando watches 1,100 level on the S&P 500
By MarketWatch
NEW YORK (MarketWatch) — U.S. stocks slid sharply on Thursday, extending losses for the Standard & Poor’s 500 Index into a fourth day, as Wall Street’s worry about Europe’s debt trouble and the global economy intensified.
The negative sentiment taking hold among investors is “driven by the bank runs in Europe, and some of the European banks are rumored to be looking in the Middle East for capital, it’s like a replay of 2008 for some of the U.S. banks,” said Charlie Smith, chief investment officer at Fort Pitt Capital.
Smith also points to Europe’s solvency issues, saying Greece is not a major issue, given “it’s only 2% of the euro zone, but Italy would be.
(Excerpt) Read more at marketwatch.com ...
After a volatile month you can always expect an aftershock on expiry as hedges are rolled and players try to manipulate the market towards open interest.
The b.s. rationales put forward by financial journalists and pundits always make me chuckle.
Press that pantsuit Hillary – you’re up!
Obama's incompetent, I'll say that. His ideology, in fact the interventionist ideology of our entire NY/DC establishment for the last 80 years, blinds them to the measures needed to allow our ills to correct.
But he's not the sole reason for the malaise. This is the result of a multi-generational pile-up of debt, both public and private on both sides of the Atlantic and unending debt into the future due to aging populations and entitlements.
Until massive defaults are allowed, and complete restructuring of entitlements take place, no man, woman, Congress or parliament will be able to stop it.
Today, it continues to slide, but not because of Europe, because our Goobermint refuses to face the music and stop juggling credit cards like a junkie.
This Administration reminds me of the Palestinians, they try and kill their neighbors everyday, and blame the “failure of the peace process” on someone else.
Clue, Peace is not a process, just like fiscal responsibility is not a process. You either have peace, and security, or you don't. And it is directly related to your actions, not processes, or republicans, or tornado's, or earthquakes or tea parties.
If the politicians would get back to being the representatives of the desires of the people as they were hired to be, instead of corporate whores and influence peddlers, the DOW would take off like a rocket, and America would once again be the lead of Nations. What is wrong with the DOW is not America, its the corruption of a few people in power that is dragging the whole Nation down the toilet.
What the...?
We're right in the middle of a huge European bank run ... the largest in history ... which is about to become much, much, worse.
The problem: the European Union is about to come unraveled and the Euro is about to collapse. Those people are trying to get their money the hell out of Dodge before it becomes completely worthless. The U.S. dollar is soaring despite its current weak status because it is the only currency large enough to absorb the influx of European deposits. The Fed (i.e. U.S. taxpayer) is engaged in all kinds of clandestine maneuvers (including massive money printing) to try and bail their butts out. It's not going to work. Explained in more detail four days ago HERE, HERE, and HERE.
Meanwhile, as explained HERE, the DAX (German stock exchange) is down 4.64% on the day and 32% from the highs of the year, the Hang Seng is down 4.85% on the day and 28.5% for the year. The Dow is about to join them. Then, they are all going to continue to drop together.
Most people have no idea whatsoever concerning how bad the global economy is or how bad things will become.
Markets at intra-day lows now, Dow off 441.
Oil about to go below $80. Yield on 10-yr note at all-time low.
Deflationary depression coming??
Down about 425 now, considering all the bad news out there, down only 400 or 500 is doing pretty good.
Hey, that means my cash is worth more right? Right???
Yup down 485, panic might set it soon,
Five Stocks paying a 5% dividend yield
http://seekingalpha.com/article/295172-5-utility-stocks-yielding-5-or-more?source=yahoo
What the heck is going on? The dow went from -408 to -370 in a blink and then back to -398 in another blink. Is this the PPT attempting to reign it in for the end of the day?
And then Yahoo market crashes...
Never underestimate the power of the hedge funds and their algorithms.
—Never underestimate the power of the hedge funds and their algorithms.—
At Yahoo finance the chart made a big capitol “M”. ;->
I’ve been watching to dollar today against the Euro. Your dollar is now worth....wait for it....74-cents!
Don’t you feel rich? Don’t let 0bama know that you have 74 cents to your name, LOL!
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