12/24, Dow takes a dump...

Discussion in 'Financial Cents' started by DKR, Dec 24, 2018.

  1. DKR

    DKR Raconteur of the first stripe

    The Dow fell throughout the morning, but the dive (1500 point drop) that happened around 2:40 p.m. ET actually resembled the violent 2010 flash crash. However, no trading desks contacted by CNBC reported trading issues in Monday's big sell-off.

    Sure enough, markets recovered somewhat just as they did that on that May 6 event nearly eight years ago.

    But the damage could be substantial to the collective investor psyche.

    "This is scary. A lot of people made a ton of dough over the last nine years," said Stephen Weiss, founder and managing partner at Short Hills Capital Partners. "I think we've got some more to go. There's not a catalyst to step in."

    The frightening contraction happened to a market that looked bulletproof.

    The Dow had soared more than 40 percent since President Donald Trump's election, a period that included an impressive nearly 20 percent rise in the S&P 500 for 2017 and the fastest start ever to a year in 2018.

    Is this the Deep state trying to screw Trump and investors caught in the middle?

    Programmed trading run amok?

    I see silver is at $14.60 or so, no spike in buying silver
    I see gold is at $1260 or so - again, no spike. Hence the question of politics vs market forces....
  2. techsar

    techsar Monkey+++

    That's pretty good...especially considering that 1500 point drop hasn't happened for thirty five minutes...yet.
    Gator 45/70 likes this.
  3. DKR

    DKR Raconteur of the first stripe

    I see that it is currently down 653 per MSM.com (10:21 ADST)
    Gator 45/70 likes this.
  4. BTPost

    BTPost Stumpy Old Fart Snow Monkey Moderator

    and I should be worried about why Warren Buffet, Mikey Bloomberg, and. bunch of Wallstreet Thieves, are losing their shirts, today.... Why? I think the whole bunch should head to the roof of their buildings, and jump off....
  5. Gator 45/70

    Gator 45/70 Monkey+++

    Is this not normal at the end of each year?
    oldman11 likes this.
  6. Bandit99

    Bandit99 Monkey+++ Site Supporter+

    With a Dow so high, sooner or later we would have seen a selloff. It is terribly overpriced. I find it mindboggling that people would think it would remain in that lofty area - sure - it will until something scares them and when combined with end of year selloffs (mutual/hedge funds have to show end of year profit) and considering how high it was... What scared them? We now have a House dominated by Democrats who are not exactly business friendly plus the Fed raising interest rates to cool off the economy/inflation... so for my 2 cents, it is market forces taking the safe bet, taking their profits now.

    What I do find interesting is there is something going on at the Fed. Maybe a change of leadership? What's going on there?

    Gold...up to $1269 I guess we know where some of those stock profits went...no huge increase but seems to continue a steady increase which is a bit concerning... It's always 'Boom and Bust' so suppose we shouldn't be surprised...

    Nah...they probably caused it by selling off and taking profits. LOL! The Fed will ensure that the economy will slow down and with Congress split (Dems/House, Rep/Senate) - well - the happy days are over so better to make money now.
    Last edited by a moderator: Dec 24, 2018
    Gator 45/70 likes this.
  7. Motomom34

    Motomom34 Monkey+++

    No, this is ugly. Most years the DOW ends on a positive note. Currently we are at almost a 12% loss. December has been brutal and there are a few days left in the year.
    Dow Jones - 10 Year Daily Chart

    I won't be pointing fingers at politicians but..... the market has been inflated for years but I do wonder how low it will go.
    Gator 45/70 likes this.
  8. Gator 45/70

    Gator 45/70 Monkey+++

    Good I guess,I only have 1/3 of my investments in a mutual fund,The rest is in cash in a savings acct.
  9. oil pan 4

    oil pan 4 Monkey+++

    That's why almost every year I swap out stock funds for bonds some time around September or October.
    2017 was the only years i didn't do that in ages. I don't expect to do that again in the next 20 years. In 2016, the stocks to bonds deed had been done weeks earlier plus I expected hillery to win, then when that didn't happen the night of the election, what was that like November 3 or 7th or something, I went all in on stocks.

    Remember I have no other savings, I spend it all on hookers, cocane, booze and the rest I waste.
    Mountainman, Zimmy and Gator 45/70 like this.
  10. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    a buying opportunity in the dollar cost averaging plan?
    Gator 45/70 likes this.
  11. Cruisin Sloth

    Cruisin Sloth Special & Slow

    Funny , same life style !!
  12. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    I remember talking with a colleague back in 1996 when the Dow I/A was on the television running from about 5,000 the year before and I told him it was going to rise past 10,000 soon. He scoffed at me and said "no way, it can't go that high...", and I responded like I usually do by saying it's always going to keep rising exponentially because the currency is borrowed from a private banking cartel and we're headed toward perpetual war. The corporations will continue to grow and prosper while the majority of people starve. He didn't draw the distinction, as it seems too complicated for most people to grasp, despite it actually being rather simple. Sure enough, in two years it was up over 8,000 and one year later it passed 10,000 easily. Now today, we're looking at 27,000 plus and it just keeps growing.

    It's not rocket science, but it is a very scientific-like process how the markets operate.
    Dunerunner and Gator 45/70 like this.
  13. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    3M-TA3 likes this.
  14. 3M-TA3

    3M-TA3 Cold Wet Monkey

    All bubbles and bursts in the stock market or property values are manipulated to periodically take money from those that panic into selling low after they buy high. This one is no exception though IMO politics is also a driver.
    oldman11, Gator 45/70 and mysterymet like this.
  15. DKR

    DKR Raconteur of the first stripe

    Dow up 550 early today. Wonder how many "in the know" bought real low and now....

    Edit to add - now Dow up a full 650. ShaZam.! Who made millions? The folks that engineered the drop?
    Last edited: Dec 26, 2018
    Gator 45/70 likes this.
  16. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    I made 50 bucks on the stuff I bought Monday.
    Gator 45/70 likes this.
  17. oil pan 4

    oil pan 4 Monkey+++

    The federal Reserve started it.
    Gator 45/70 likes this.
  18. chelloveck

    chelloveck Diabolus Causidicus

    I wonder how much the Donald made shorting the market, threatening to sack the head of the Fed (whom he appointed in the first place; Donald only has the best people working for him, judging by the long list of Trump appointees facing Federal jail sentences)?

    The Government's just a toyshop for Donald to indulge to his own fancies and fantasies.
    Gator 45/70 likes this.
  19. Dunerunner

    Dunerunner Brewery Monkey Moderator

    Gained 1000 points today last I checked. This was strictly profit taking and nothing else. Those who freaked and sold low lost, for investors who hold actual shares. For everyone invested a a fund, they lost in this "correction". For those who sheltered into PM's or sold shares at the peak, they made out but everyone invested in a pension plan where the fund manages investment funds got hosed. I cannot believe that this was not orchestrated.
    Gator 45/70 likes this.
  20. DKR

    DKR Raconteur of the first stripe

    The 30-stock Dow closed 1,086 points higher, or 4.98 percent. Wednesday’s gain also marked the biggest upside move on a percentage basis since March 23, 2009, when it rose 5.8 percentage points. The S&P 500 also catapulted 4.96 percent

    Ya, rigged game, bad game.
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