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(USA Today)   Sell Mortimer, SELL   (usatoday.com ) divider line
    More: Scary, Britain's FTSE 100, CAC, electronic trading, stock indexes, DAX, Hang Seng  
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3176 clicks; posted to Business » on 24 Jun 2013 at 1:23 PM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



29 Comments   (+0 »)
   
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2013-06-24 01:26:32 PM  
I farking hate wall street. they can all die in a farking fire.
 
2013-06-24 01:31:31 PM  
No thanks. These little mini-panics are actually great buying opportunities.
 
2013-06-24 01:32:54 PM  
meh - a 200 point drop aint what it used to be
 
2013-06-24 01:34:51 PM  
It's ridiculous that an economy as vast as the US' gets tied to the Dow. Somehow, someone convinced everyone that it's THE barometer of economic health.
 
2013-06-24 01:35:02 PM  
It is all because of Paula Deen.
 
2013-06-24 01:40:08 PM  
1.bp.blogspot.com
Fark him!  Get those traders back in here!  Turn those machines back on!  Turn those machines back on!!!!!
 
2013-06-24 01:42:43 PM  
Translation - World economy is dependent on China (& we don't understand them or know what they will do).

www.derbaum.com
 
2013-06-24 01:47:46 PM  

NostroZ: Translation - World economy is dependent on China (& we don't understand them or know what they will do).

[www.derbaum.com image 555x290]


Looks to me like everyone is going to party at ~22%.

Except Japan who is too busy studying to party.
 
2013-06-24 01:53:10 PM  

bongmiester: meh - a 200 point drop aint what it used to be


Several days of it though does add up.

/looking forward to buy buy buying
 
2013-06-24 02:05:31 PM  
the funny thing is, the dow started tanking last wednesday when bernanke uttered the word "optimistic."

think about that for a second.
 
2013-06-24 02:06:51 PM  
Waffles
 
2013-06-24 02:10:57 PM  
Takes break from more enjoyable activities.

looks at indexes.

Checks portfolio.

Realizes that the losses won't mean anything for 35 years, which is plenty of time to recover. Or be dead.

Says "meh".

Goes backs to more enjoyable activities.
 
2013-06-24 02:11:54 PM  

FlashHarry: the funny thing is, the dow started tanking last wednesday when bernanke uttered the word "optimistic."

think about that for a second.


I know, it's crazy.  All because the traders are afraid because things are looking better (better being a relative term here) that he's going to end the QE spigot.  You would think that if things were getting better it would be bullish for corporations, stocks, dividends, CEOs and money market managers.
 
2013-06-24 02:12:03 PM  

FlashHarry: think about that for a second.


A fair chunk of current stock prices takes the form of stimulus and virtually no-rate government loans. It's actually not entirely unreasonable, if your goal was to realize profits in the next few months to years, to dump your stock now even if the economy IS improving.

You'd have to be optimistic to the point of wide-eyed ignorance to think that that current stock prices are sustainable on the merits of the economy alone. Doesn't mean it's all doom and gloom, but it does mean if you wanted your money in the near-term it makes sense to get it now.
That said, MY goal is to realize profits in the coming DECADES, so I'm looking forward to some buying opportunities.
 
2013-06-24 02:21:15 PM  

skozlaw: FlashHarry: think about that for a second.

A fair chunk of current stock prices takes the form of stimulus and virtually no-rate government loans. It's actually not entirely unreasonable, if your goal was to realize profits in the next few months to years, to dump your stock now even if the economy IS improving.

You'd have to be optimistic to the point of wide-eyed ignorance to think that that current stock prices are sustainable on the merits of the economy alone. Doesn't mean it's all doom and gloom, but it does mean if you wanted your money in the near-term it makes sense to get it now.
That said, MY goal is to realize profits in the coming DECADES, so I'm looking forward to some buying opportunities.


Here's the thing though... the QE ending has been known from the very beginning, we just didn't and still don't know the exact date or quarter (probably end of Q2 of 2014). The market is reacting 15 times to the same news... that the QE will end because the economy is improving. Either that or the analysts have no idea what is going on and use the same excuse for every dip in the DOW.

A correction after the huge runup of the past 6 months was to be expected and that in itself could explain a 5% or so drop. Add to that a few bad news for some of the DOW companies and it'll go down a bit more.
 
2013-06-24 02:24:30 PM  

ddam: A correction after the huge runup of the past 6 months was to be expected and that in itself could explain a 5% or so drop. Add to that a few bad news for some of the DOW companies and it'll go down a bit more.


this is what i'm guessing too - that this is a natural (and needed) correction.
 
2013-06-24 02:59:15 PM  

FlashHarry: the funny thing is, the dow started tanking last wednesday when bernanke uttered the word "optimistic."

think about that for a second.


Well, yeah, all the companies are scared that their free well of funding is drying up.

That said, like I've said before: I don't care when people keep sreaming "The sky is falling the sky is falling." It's when the experts start getting confident that we'll never stop growth that I get nervous.

If you look at the underlying fundamentals (I really can't believe that phrase just came out of my fingers), the economy is strengthening, so there really is no reason for this beyond scared CEOs. Like Obamacare, things will blow over, they'll realize it's not as bad as it looks, and on marches the market. Like someone else mentioned, most investors look at this as if they were a neglected housewife with a new, no-limit credit card and it's buy-one-get-one at Payless. Traders are the ones pulling their hair and freaking out.
 
2013-06-24 03:24:25 PM  
0.4%?

So much for that summer monocle I had my eye on.
 
2013-06-24 03:50:37 PM  
it's also summer...this is when you'd expect equities to give back a portion of what they made
 
2013-06-24 04:19:55 PM  
img690.imageshack.us
 
2013-06-24 04:35:37 PM  

Smeggy Smurf: bongmiester: meh - a 200 point drop aint what it used to be

Several days of it though does add up.

/looking forward to buy buy buying


I must caution you all about buy buy buying... this panic sell off is the reaction to bernanke saying they'll be ending QE in the near future... the markets have been getting Trillions every year in free money since 2008... yes, trillions with a T... a  huge portion of the recovery was just the fed pumping money into the system.  I mean, that was the plan, since everyone went broke in 2008 and they needed to recreate wealth, but expect a downward trend over the next year or three.

It  will be a good buying opportunity... but id wait a little while, personally.
 
2013-06-24 04:50:38 PM  
WHERE THE HELL IS BEAKS?!?
 
2013-06-24 06:17:06 PM  

bongmiester: meh - a 200 point drop aint what it used to be


It's close to 1000 point drop in less than 14 days. Since Helicopter Ben said he's going to wind down the printing presses. The "asset bubble" is correcting, people are panicking and some that have been sitting on the sidelines for 5 years are salivating.
 
2013-06-24 06:46:46 PM  

relaxitsjustme: I know, it's crazy. All because the traders are afraid because things are looking better (better being a relative term here) that he's going to end the QE spigot. You would think that if things were getting better it would be bullish for corporations, stocks, dividends, CEOs and money market managers.


If the Feds are turning off the spigot, that means that all of the companies who have been hoarding money are going to have to start spending it, which means *gasp* they might have to actually start hiring people and paying them decent wages.
 
2013-06-24 07:35:57 PM  

Stile4aly: WHERE THE HELL IS BEAKS?!?


After escaping from the clutches of the male gorilla, he led a quiet life as a principal in a suburban Chicago high school.
 
2013-06-24 10:02:14 PM  
Can someone explain to me why the dow exploded in the last few years? The economy has been sluggish this entire time, there's no reason the index's should be double now.
 
2013-06-24 11:30:44 PM  

Stile4aly: WHERE THE HELL IS BEAKS?!?


Dude - I'm right here.  And at least spell my name correctly.  That will at least take my mind off being sexually violated by a gorilla.  Last time I ever ride the damned Amtrak.
 
2013-06-25 12:15:07 AM  

buckets_of_fun: Waffles


Tasty waffles.
 
2013-06-25 01:34:57 AM  

Alonjar: Smeggy Smurf: bongmiester: meh - a 200 point drop aint what it used to be

Several days of it though does add up.

/looking forward to buy buy buying

I must caution you all about buy buy buying... this panic sell off is the reaction to bernanke saying they'll be ending QE in the near future... the markets have been getting Trillions every year in free money since 2008... yes, trillions with a T... a  huge portion of the recovery was just the fed pumping money into the system.  I mean, that was the plan, since everyone went broke in 2008 and they needed to recreate wealth, but expect a downward trend over the next year or three.

It  will be a good buying opportunity... but id wait a little while, personally.


That's what I'm doing.  I'll wait until it looks like the rebound is starting.  I might be a couple days late but it beats buying now.
 
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