Crash of 2011 happening now?

[pmcint01]

Are we on the ride down of another crash?

 

[RealMoneyIssues]

It sure feels like it... All hope, no action...

 

[Bquat]

Only 2.5343 % 1180 S&P. Some say 1145 but I don't think that far and I'll look at the slope angle to 1180 to see if it's slowing. Just my current guess.

 

[James48843]

Yes. it's just a slow-motion crash- we lost 512 points on Thursday, and then the S fund lost a bunch more on Friday. Since the downgrade of the USA on Friday after the close, I'm expecting the market to tank on Monday- it will become known as "Black Monday 2011" in the future. \

Sheesh- even the E-trade baby is hosed-

 

[Warrenlm]

Remember, somebody was buying when others were selling. Some of them are eyeballing other property in the Hamptons to demolish and rebuild like Tepper.

 

[burrocrat]

Sheesh- even the E-trade baby is hosed-

Ha! I can't stop laughing. That is too funny.

I don't remember the last time I gave you reps, if ever, but here you go, +1.

 

[burrocrat]

France’s AAA Rating May Be Vulnerable
http://www.bloomberg.com/news/2011-...e-to-downgrade-following-cut-to-the-u-s-.html

I wonder if they call them yankee fries over there? Oh well, looks like it potatoes all around then.

 

[nnuut]

666

 

[FundSurfer]

One mistake I made in 2008, was to get back in too early. I think I'll watch for a little while longer before getting back in stocks. Downside risk seems a little high right now.

 

[burrocrat]

One mistake I made in 2008, was to get back in too early. I think I'll watch for a little while longer before getting back in stocks. Downside risk seems a little high right now.

This could have been so much easier if we had just let it all burn for 700 billion a couple years ago. Now it's costing us 4 times as much, and going to hurt more than that.

Compound interest I think it's called.

 

[nnuut]

FUTURES:

[TD="class: name"]DJIA INDEX
[/TD]
[TD="class: value"][/TD]
[TD="class: change value_down"] -224.00
[/TD]

http://www.bloomberg.com/markets/stocks/futures/

 

[burrocrat]

http://www.bloomberg.com/news/2011-...t-charge-on-clients-excess-cash-deposits.html

Who would have ever guessed that they would charge you interest, to hold on to your money, plumb crazy.

Looks like folks is encouraging investment in the markets. Think it will work?

 

[James48843]

DAX and CAC both down huge amounts right now.

DAX down -2.78%

 

[pmcint01]

Seems like we are getting there. Major indicies are off by around 14% from recent highs right now.

 

[pmcint01]

Are we working towards a similar chart as this? Tom has been mentioning we are breaching the neckline of the head and shoulders pattern which is what the chart shows as well:

 

[RealMoneyIssues]

Tom has been mentioning we are breaching the neckline of the head and shoulders pattern which is what the chart shows as well:

Breaching, we busted through it days ago, and this morning is U-G-L-Y

 

[James48843]

Just a reminder- the P&F chart for the S&P 500 is still showing 1140 as the price objective.

And has been showing that for some time.

 

[Warrenlm]

"price objective" sounds so much like a ........ goal......

 

[James48843]

[h=1]Obama to speak on economy in wake of downgrade[/h][h=2]WASHINGTON (AP) -- President Barack Obama plans to deliver a statement about the economy as the nation grapples with the first downgrade of U.S. debt in the country's history.

Obama will speak at 1 p.m. EDT from the White House.

[/h]
One p.m.

 

[RealMoneyIssues]

S&P just down-graded Warren Buffet... Is that a serious let down and confidence destroyer???