AuthorTopic: Big Slide v2.0 Begins  (Read 93795 times)

Offline RE

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Re: Big Slide v2.0 Begins
« Reply #390 on: February 06, 2018, 07:15:14 AM »
I prefer to do my own thinking, unlike most people.

Doing your own thinking is one thing, never taking any advice is another. lol.  You're just an older version of LD in this respect.

RE
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Offline RE

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Dow turns back negative, trades in wild 934-point range
« Reply #391 on: February 06, 2018, 07:41:28 AM »
Action is hot and heavy in the pits today!

RE

https://www.cnbc.com/2018/02/06/us-stock-futures-dow-data-earnings-market-sell-off-and-politics-on-the-agenda.html

Dow turns back negative, trades in wild 934-point range
Fred Imbert   | Alexandra Gibbs   
Published 7 Hours Ago Updated 13 Mins Ago CNBC.com   
   
      
Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., February 5, 2018.
Volatility shock shakes markets. Here's what to expect 
3 Hours Ago | 01:59

U.S. stocks traded in a wide range Tuesday as the major indexes tried to recover from a recent steep sell-off.

The Dow Jones industrial average traded 61 points lower after rising as much as 367 points. The index also fell as much as 567 points at its session low.

The S&P 500 traded just above breakeven with information technology as the best-performing sector. The Nasdaq composite rose 0.1 percent. Both the S&P 500 and Nasdaq fell sharply at Tuesday's open.

"I thought we were going to see the bottom within five minutes of when we opened. I think that's basically what we're seeing," said Ed Keon, portfolio manager at QMA, the quantitative and dynamic asset allocation business of PGIM. "At these levels, stocks represent pretty good value and we're adding to equity exposure." Keon said it's too early to call a bottom but he expects that the worse is over.

European markets fell, but traded off their lows. The German Dax dropped 1.3 percent, while the French CAC 40 also fell 1.3 percent. In Asia, the Japanese Nikkei 225 plunged 4.7 percent, while the Shanghai composite pulled back 3.4 percent.

On Monday, the Dow dropped 1,175.21 points, having briefly declined more than 1,500 points during the session. Other major indexes closed sharply lower. The sell-off kicked into action on Friday, after the latest nonfarm payrolls report saw interest rates in the U.S. jump.

This pullback came after a rip-roaring start to the year for stocks. The Dow and S&P 500 notched all-time highs as well as sharp gains for January.

"Widespread and excessive optimism left stocks vulnerable to increased volatility as bond yields have moved off their lows," said Bruce Bittles, chief investment strategist at Baird. "While there is some early evidence that selling pressures are becoming exhausted, and stocks could soon see relief, the broad market is seeing meaningful deterioration."

While there was no particular piece of news that pushed major U.S. indexes deep into the red on Monday, the recent moves in the bond market have added volatility and concern to the market.
The benchmark 10-year yield traded around 2.74 percent on Tuesday; it began the year trading near 2.4 percent.

The Cboe Volatility index — widely considered the best fear gauge on Wall Street — broke above 50 before sliding down to 25.17. It closed at 37.32 on Monday. The surge in volatility also triggered massive selling in other volatility instruments.

—CNBC's Patti Domm contributed to this report
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Offline Eddie

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Re: Big Slide v2.0 Begins
« Reply #392 on: February 06, 2018, 07:56:53 AM »
I prefer to do my own thinking, unlike most people.

Doing your own thinking is one thing, never taking any advice is another. lol.  You're just an older version of LD in this respect.

RE

You're heavy on advice, but short on real experience. I'm not just an idea guy, I'm a householder and a husband and a father, with a thousand responsibilities you don't have, and never have had, and don't understand. LD and I are alike in that respect too.

You don't take my advice either. Makes us even in my book.

What makes the desert beautiful is that somewhere it hides a well.

Offline RE

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Re: Big Slide v2.0 Begins
« Reply #393 on: February 06, 2018, 08:01:46 AM »
You're heavy on advice, but short on real experience.

I have plenty of real experience.  And when have I not taken your advice? ???  :icon_scratch:  I can't even remember when you GAVE me any advice to take!  lol.

RE
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Offline Eddie

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Re: Big Slide v2.0 Begins
« Reply #394 on: February 06, 2018, 08:31:39 AM »
Two percent up day for me. The volatility is not unexpected.

The 10 year is not blowing out. It is still in up trend, so it could blow out, but it sure doesn't look like it's today.
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Offline Golden Oxen

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Re: Big Slide v2.0 Begins
« Reply #395 on: February 06, 2018, 08:56:37 AM »
I prefer to do my own thinking, unlike most people.

Right on Eddie.

The path to success for sure, especially on Wall St.

Been busy but checking in, your doing just fabulous in this crack and talking pearls of wisdom.

Agree that 10 year is the thing to scope in on, keep an eye on the precious yellow as well.

There is no real fear or panic, just traders running ahead of margin calls, until GO's sweetheart starts singing.    ;D ;D

                                       

                                     

 

Offline Eddie

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Re: Big Slide v2.0 Begins
« Reply #396 on: February 06, 2018, 09:25:46 AM »
Now up to 3.5% green for the day so far. Pot stocks are starting to recover, for the moment.
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Offline Golden Oxen

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Re: Big Slide v2.0 Begins
« Reply #397 on: February 06, 2018, 09:38:04 AM »
Now up to 3.5% green for the day so far. Pot stocks are starting to recover, for the moment.

Amazing action in the pot group, quite impressive in my view.

Fighting the urge to clobber them for a trade. Seems they bought them th.rough the entir drop once the morning opening sellers got out of their positions.

Of course they corrected before the big dive started, but still, impressive relative strength me thinks.

Offline Surly1

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Re: Big Slide v2.0 Begins
« Reply #398 on: February 06, 2018, 11:13:56 AM »
I prefer to do my own thinking, unlike most people.

Doing your own thinking is one thing, never taking any advice is another. lol.  You're just an older version of LD in this respect.

RE

You're heavy on advice, but short on real experience. I'm not just an idea guy, I'm a householder and a husband and a father, with a thousand responsibilities you don't have, and never have had, and don't understand. LD and I are alike in that respect too.

You don't take my advice either. Makes us even in my book.

RE doesn't listen to anybody.

"It is difficult to write a paradiso when all the superficial indications are that you ought to write an apocalypse." -Ezra Pound

Offline azozeo

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Re: Big Slide v2.0 Begins
« Reply #399 on: February 06, 2018, 11:21:01 AM »
I prefer to do my own thinking, unlike most people.

Doing your own thinking is one thing, never taking any advice is another. lol.  You're just an older version of LD in this respect.

RE

You're heavy on advice, but short on real experience. I'm not just an idea guy, I'm a householder and a husband and a father, with a thousand responsibilities you don't have, and never have had, and don't understand. LD and I are alike in that respect too.

You don't take my advice either. Makes us even in my book.

RE doesn't listen to anybody.




Maybe if there's $20 gold dollars involved he will.

I need the map...
I know exactly what you mean. Let me tell you why you’re here. You’re here because you know something. What you know you can’t explain, but you feel it. You’ve felt it your entire life, that there’s something wrong with the world.
You don’t know what it is but its there, like a splinter in your mind

Offline RE

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Re: Big Slide v2.0 Begins
« Reply #400 on: February 06, 2018, 12:44:33 PM »

RE doesn't listen to anybody.

I listened to Peter when he suggested we set up the Diner. :P

RE
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Offline Palloy2

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Re: Big Slide v2.0 Begins
« Reply #401 on: February 06, 2018, 05:09:46 PM »
So Eddie triumphs, because he does his own thinking. Perhaps he can explain the HFT-driven 1,597 point plunge in the DJI after 3 pm on what Bloomberg calls "The Best Day Since 2016" and Wells Fargo's Harvey said was a "Healthy Pullback"?    How long now till the blow-off top?  Why UST-10 yield at precisely 3.03% is important?  We obviously need to learn from the master. 

My guess is that the machines knew the PPT would have to come in in a big way at some point.  That means the PPT is a machine too.
"The State is a body of armed men."

Offline Eddie

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Re: Big Slide v2.0 Begins
« Reply #402 on: February 06, 2018, 05:25:35 PM »
It's all a guess at any time. The markets have been unstable since 2008. I do not say otherwise. However, there is no real reason to think that right now is THE big one. I'm just trying to consider the evidence, and take into consideration what I've learned from following all this pretty closely for over ten years now. How the bad guys do things.

I think 3% is important because traders draw trend lines, and a break in a 36 year trend is a big deal. That might not be the end either, but it would certainly be a sign that something big has changed for the worse, for BAU.

Palloy, I understand that it would make you happy for BAU to seize up. And I understand you want that for the good of the planet and maybe a few people who could survive that and find a better way to live.

I haven't triumphed. I just made a bit of my lost money back today, and I'm happy for that, and for a chance to make a bit more, which I am trying to put to good use.

And I know I might be wrong. I do believe that at some point what you're predicting will happen. It's just the timing that's hard to know. Yes, it could be tomorrow. I do not dispute that it's a possibility.

Let's have a beer and not dwell on it. I am your friend and I admire you and the way you've set yourself up in New Guinea or wherever you are. It looks like a cool place to live to me, and maybe it would be a great place to ride out the coming storm.

Cheers.

What makes the desert beautiful is that somewhere it hides a well.

Offline Palloy2

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Re: Big Slide v2.0 Begins
« Reply #403 on: February 06, 2018, 06:32:10 PM »


Cheers
"The State is a body of armed men."

Offline RE

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Dow is headed for a more than 150-point drop at the open
« Reply #404 on: February 07, 2018, 04:50:59 AM »
Beginning today's action...

I still haven't bought back in yet and sit on the sidelines for this now.  I'm not yet convinced this party is OVAH.  Kohl's is trading horizontal at the moment, so I am not losing anything by waiting it out some more.

RE

https://www.cnbc.com/2018/02/07/us-stock-futures-dow-data-earnings-market-sell-off-and-politics-on-the-agenda.html

Dow is headed for a more than 150-point drop at the open, following Tuesday's wild ride
Alexandra Gibbs   | @alexgibbsy
Published 2 Hours Ago Updated 6 Mins Ago CNBC.com
      
      
Volatility still elevated after sell-off 
1 Hour Ago | 01:21

U.S. stock index futures dropped deep into the red ahead of Wednesday's open, pulling back from the roller coaster ride seen on Wall Street in the previous session.

Around 7:35 a.m. ET, Dow futures suggested the industrial average would open down roughly 163 points. Nasdaq and S&P 500 futures also pointed to a weak open. The movements seen in U.S. futures come on the back of a wild trading session Tuesday.

After two major sell-offs, leading U.S. indexes saw sharp swings yesterday, with the Dow Jones industrial average starting Tuesday significantly lower, before rallying and closing up 567.02 points at 24,912.77. The index traded in a range of 1,167.49 points through the course of Tuesday's session.

Some of the reasons that investors gave for yesterday's sharp swings included fears over interest rates, obscure volatility funds that use leverage, and computer-driven trading.

The positive sentiment seen on Wall Street yesterday provided a boost for international markets, with Asia-Pacific markets closing mixed to higher Wednesday, while trade in Europe was relatively positive, after posting major declines on Tuesday.
Dow Jones Industrials' Massive One Day Drop Of 4.6 Percent Rattles Markets Overseas
Spencer Platt | Getty Images News | Getty Images
Dow Jones Industrials' Massive One Day Drop Of 4.6 Percent Rattles Markets Overseas

While the volatility seen in markets is set to keep markets on edge Wednesday, investors will also pay close attention to data and earnings.

Earnings season continues to be in full swing with Wednesday Hasbro, and Michael Kors set to report before the open, while 21st Century Fox, Tesla Motors, IAC/InterActive, Yum China and Yelp are expected to publish updates after the bell.

Key members of the U.S. Federal Reserve are due to deliver separate remarks Wednesday. Dallas Fed President Robert Kaplan will be in Germany, where he is set to appear at the Institute for Monetary and Financial Stability (IMFS) working lunch. And San Francisco Fed President John Williams is slated to appear in Honolulu, speaking at the Community Leaders Luncheon.
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Chicago Fed President Charles Evans will be attending the Iowa Bankers Association Management conference in Des Moines, while New York Fed President William Dudley is set to make an appearance at the "Banking Culture: Still Room for Improvement" in New York.

Investors are also likely to be digesting the latest coming out of the political sphere. Late Tuesday, the U.S. House of Representatives managed to pass a short-term spending bill, which not only would provide support to defense spending for 2018 but also fund the government for another six weeks.

In economic data, mortgage applications are due out at 7 a.m. ET, while consumer credit is due out at 3 p.m. ET.
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