Posted on 10/15/2014 10:07:28 AM PDT by fhayek
October lived up to its reputation as a volatile month for stocks with the S&P 500 SPX sliding into negative territory for the year.
The S&P 500 is down 2.1% to 1,836.87 and the Dow Jones Industrial Average DJIA fell 2.1% to 15,970.43.
(Excerpt) Read more at marketwatch.com ...
Before its all over the Dow will be closer to 7000 than 17000!
I’d like to pause for a moment of silence to “thank” LIBs/DIMs/RINOs for their continuing efforts to “transform” America. Thanks a lot, you putzes.
Stock were artificially high because of Fed policies that pumped money into the system while keeping interest rates low. No other place for money to go. All bubbles burst, eventually.
Simply incredible bond move, TLT +3.4, never seen such a move, ever. Ten year ^TNX got to 1.88% earlier, now 2.00. Amazing.
VIX (S&P 500 volatility index) up 23% today.
Yikes.
You ain’t gonna be seeing rising rates with the ^TNX under 2.00!!
ping
I have VXX (proxy for ^VIX) 18 struck Mar ‘15 calls which I bot for $10. They are probably $34 now. Unfortunately I spread them off so I own little nor none of that gain.
I also had 1K shs VXX common at about 28. Now 43.25, also spread off *^*&^)*$&^_^@#
That’s about $25K left on the table
Right. And I'm now expecting the Fed to do an emergency pump to prop up the markets, at least until the November elections.
S&P and Nasdaq at intraday lows.
This afternoon could either be a bloodbath or an amazing rally, that’s how volatile this market is.
Yes, thanks.
Did you say that about President Reagan in 1987 when we had the worst stock market day since the Stock Market Crash of 1929? We need the stock market to fall. It was overvalued and needs this adjustment big time. I could not be happier. I was waiting to buy some more stocks and now it is getting closer to that time.
Dow now down 450. Looks like we are on the bloodbath road...
Crank up the Fed printing presses. Can’t have a meltdown this close to an election.
Some good news: the Greek stockmarket only dropped 6% today!
Britain a measly 4.5%!
And remember your calculus classes: even if a market goes down 5% every day it will never reach zero.
As a middle-aged buy and hold guy I’m glad were getting this reckoning. Now. But it will be worth little if Obama isn’t hogtied for the rest of his term.
As an about-to-retire guy, I’m pretty happy that I moved a half mil out of equities three months ago after 45+ years of investing 50% of all I saved into the stock market. Left enough in stock so this three-day bloodbath smarts, though.
TC
As soon as the Dow crosses 5000, as it must, I’m in!
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