Better than 2% today.
Maybe the people on television should quit worrying whether or not we are going to have a recession and start asking when the depression is going to begin.
Two of my longer term short positions, mtg and pmi both fell greater than 10% today to multi year lows.
Both those stocks are heading for the big fat 0 very soon.
Side note: Ford Motor Company another 15+ year low today.
People think this is wild volatility are really going to shit when the market caves more than 5 and maybe 10% in a single day.
Maybe the people on television should quit worrying whether or not we are going to have a recession and start asking when the depression is going to begin.
Two of my longer term short positions, mtg and pmi both fell greater than 10% today to multi year lows.
Both those stocks are heading for the big fat 0 very soon.
Side note: Ford Motor Company another 15+ year low today.
People think this is wild volatility are really going to shit when the market caves more than 5 and maybe 10% in a single day.
ibm had already preannounced, GE has done the same put the earnings within 1/2cents of expectations....its everyone else whose coming up short and are getting whacked....i just think its laughable that these people on cnbc continue to say we arent in a recession....company after company continues to lower or fall short of expectations...
why in the world would you be longing/bottom fishing things if you are predicting a depression
even me the #1 bear not predicting that just yet
hno:
we're already in a depression.....it's not "official" because the gov't under Clinton changed the inflation calculation that was in place for the previous 50 years....the GDP deflater they use is a fraud
so, alot of people might say "gee....doesn't seem like we're in a depression" - well first you would need to learn what the term depression actually means
second, the truth is masked by the massive increase in the US money supply, begining in 1994. That money first flowed into the stock market, than bonds, then housing, than private equity funds - until a bubble was created in each and they broke down. - next will be commodoties, which is already under way.
one last prediction:
after the stock market reaches all time highs this summer, those posters who have been suspiciously silent since this correction began will return with the "I told you so's - stocks always go up"
truth is, all asset classes rise over time. some more than others. and it is due to effects of inflation. one of these days this whole fiat system is going to collapse onto itself. and that day is nearing.
sovereign wealth funds are the big players now to keep an eye on
the early asia blood
looks like carry trade unwind going more NZD:JPY and AUD:JPY down even more since US close
USD:JPY flat since US close
selling yen on margin and buying kiwi and aussie dollar were the big carry trade instruments
^AORD All Ordinaries 5,722.30 8:54PM ET Down 134.70 (2.30%) Components, Chart, More
^SSEC Shanghai Composite 5,151.63 2:00AM ET 0.00 (0.00%) Chart, More
^HSI Hang Seng 25,114.98 4:59AM ET 0.00 (0.00%) Components, Chart, More
^BSESN BSE 30 19,700.82 5:28AM ET 0.00 (0.00%) Chart, More
^JKSE Jakarta Composite 2,649.28 5:35AM ET 0.00 (0.00%) Components, Chart, More
^N225 Nikkei 225 13,452.14 8:34PM ET Down 331.31 (2.40%) Chart, More
^NZ50 NZSE 50 3,662.85 8:34PM ET Down 67.11 (1.80%) Components, Chart, More
^STI Straits Times 3,043.43 12:54PM ET Down 96.45 (3.07%) Components, Chart, More
^KS11 Seoul Composite 1,693.53 8:54PM ET Down 30.02 (1.74%) Components, Chart, More
^TWII Taiwan Weighted 7,911.06 8:55PM ET Down 190.57 (2.35%) Chart, More
looks like carry trade unwind going more NZD:JPY and AUD:JPY down even more since US close
USD:JPY flat since US close
selling yen on margin and buying kiwi and aussie dollar were the big carry trade instruments
^AORD All Ordinaries 5,722.30 8:54PM ET Down 134.70 (2.30%) Components, Chart, More
^SSEC Shanghai Composite 5,151.63 2:00AM ET 0.00 (0.00%) Chart, More
^HSI Hang Seng 25,114.98 4:59AM ET 0.00 (0.00%) Components, Chart, More
^BSESN BSE 30 19,700.82 5:28AM ET 0.00 (0.00%) Chart, More
^JKSE Jakarta Composite 2,649.28 5:35AM ET 0.00 (0.00%) Components, Chart, More
^N225 Nikkei 225 13,452.14 8:34PM ET Down 331.31 (2.40%) Chart, More
^NZ50 NZSE 50 3,662.85 8:34PM ET Down 67.11 (1.80%) Components, Chart, More
^STI Straits Times 3,043.43 12:54PM ET Down 96.45 (3.07%) Components, Chart, More
^KS11 Seoul Composite 1,693.53 8:54PM ET Down 30.02 (1.74%) Components, Chart, More
^TWII Taiwan Weighted 7,911.06 8:55PM ET Down 190.57 (2.35%) Chart, More
