October 19, 2007

Black Monday?


What's funny for the Faux News and CNBC crowd is that they don't even realize that in gold or Euro terms, the US market is already in trouble. You may feel rich (dollar holders) but trust me, you aren't. Ben Bernanke will make sure of that.

Happy 20th anniversary everyone. Right on schedule. I told you I had a funny feeling this week. Ultrashort financial and commodities (DBA) were great today, and REIC stocks like Countrywide and Wash Mutual fell off the cliff. And of course home prices continue to plummet.

Some days, you see why it pays to be a HP'er. We're as ready as you can be.


Stocks Plunge; Dow Down More Than 360


Stocks Plummet Amid Lackluster Profit Reports, Credit Concerns on Black Monday Anniversary

NEW YORK (AP) -- The Dow Jones industrial average dropped more than 360 points Friday -- the anniversary of the Black Monday crash 20 year ago -- as renewed credit concerns, lackluster corporate earnings and rising oil prices spooked investors.

41 comments:

Anonymous said...

The real $h|tstorm hasn't even started yet.

Anonymous said...

We're watching the end of denial

Anonymous said...

Go SRS and SKF yehaaaaaa!

luv you Keith - still

westwest888 said...

http://finance.yahoo.com/q?s=%5Evix

Ah volatility up 25% in one day. If that sucker breaks though 40, all hell breaks loose. Blow out to a 10 year chart and you can see where it happened.

Anonymous said...

stock market will be up Monday; perfect ammo for the Fed to cut rates so the market can rally on . . . .

borkafatty said...

Boy do i feel like a SHORT!! dope

MUHAHAHAHAHAH!

Vandal said...

It look like the crack cocaine rush from the last rate cut is finally wearing off as reality sets it.

Laura Vella said...

A suckers market in stocks in just around the corner.

westwest888 said...

CNBC is insisting Monday is a good day to buy. Some of the commentators sound like realtors to me...

Jambu said...

Faux news...I see Keefer has gone to the dailykos part of the web. Makes sense. He is a communits, Kos is a communist. Enjoy each other.

Jambu said...

You do realize the dow is still up 20% in the past year right? Up a shitload then a small correction. I'll take that kind of investing any day.

Yeah I know, I know in iPhones and Euros it's down 978%. If I bought things in iPhones or Euros or gold nuggets I'd give a shit. Since 100% of the things I buy are with dollars, a 20% a year return on my investment is fine by me.

And by the way in August you predicted armageddon. Here we are 3months later and what do you know the dow is up 500.

Anonymous said...

Bush said today that he would bring down gasoline prices by creating enough political good will with oil-producing nations that they would increase their supply of crude. “I would work with our friends in OPEC to convince them to open up the spigot, to increase the supply. Use the capital that my administration will earn, with the Kuwaitis or the Saudis, and convince them to open up the spigot.” Implicit in his comments was a criticism of the Clinton administration as failing to take advantage of the good will that the US built with Kuwait and Saudi Arabia during the Persian Gulf war in 1991. Also implicit was that as the son of the president who built the coalition that drove the Iraqis out of Kuwait, Mr. Bush would be able to establish ties on a personal level that would persuade oil-producing nations that they owed the US something in return.

Anonymous said...

And by the way in August you predicted armageddon. Here we are 3months later and what do you know the dow is up 500.
==========================
What's the difference between the Dow at 20,000 and the Dow at -0-?

About 1 hour.

500 pts can evaporate in less than 5 minutes. The real bitch is that the Fed pumped billions of dollars into the system just to try and hold it up for less than a month's time.

Anonymous said...

You do realize the dow is still up 20% in the past year right? Up a shitload then a small correction. I'll take that kind of investing any day.

Yeah I know, I know in iPhones and Euros it's down 978%. If I bought things in iPhones or Euros or gold nuggets I'd give a shit. Since 100% of the things I buy are with dollars, a 20% a year return on my investment is fine by me.

And by the way in August you predicted armageddon. Here we are 3months later and what do you know the dow is up 500.

October 19, 2007 10:43 PM



Except those are not the same dollars thru purchasing power. Wow investment up 20% but damn it takes more dollars to buy shit - yea that a winner...

borkafatty said...

You do realize the dow is still up 20% in the past year right? Up a shitload then a small correction. I'll take that kind of investing any day.

--------------

20% ...Pardon me while I laugh..Nyuck!Nyuck!Nyuck!

Did you just return from a 20 year Tour in space?

And if you did I truly believe you are still deprived of Oxygen and need to go back in the Hyperbaric Chamber Immediately before more brain cells die.

jim cramer said...

Sell Sell Sell! Aaaaaaaargh.

B B Booyahhhhh!

Anonymous said...

DOPES!!!

kitchenstove said...

So, Jambu, I guess that means you'll be continuing to go long on all your housing stocks. Good luck my iPhone - wielding friend.

Anonymous said...

I think the stock market will continue to get whacked, but not on Monday. Since the S&P 500 is sitting right on top of the 50 day moving average (1495) Wall Street will use every deceitful trick in the book to create a stock market bounce here. Even if that fails, the 200 day moving average is only a few points away at 1477 and that will be the bounce. The 50 and 200 day moving averages are widely followed by institutional traders and in that regard are pivotal buy and sell points. If Wall Street can get the S&P 500 to hold on Monday morning, institutional money will come back to the market and we will see another rally. Most likely though any buying will be short lived (maybe a day or two). The argument on Monday will be that things are so bad that the Fed will have to lower interest rates at the next meeting - not a new argument but it will really get pumped on Monday. If I'm wrong and we crash right through both the 50 and the 200 day moving averages, then watch out below - things will get REALLY ugly REALLY fast.

Clotpoll said...

Just another buying opportunity, losers!

One of the best lessons learned from Black Monday was that you HAVE to buy the dips.

Mr. Moderator won't post anything else I write, so I'm sure this will never see the light of day, either.

Anonymous said...

Arizona's unemployment rate hit a record low in September. The Department of Economic Security reports September's seasonally adjusted jobless rate of 3.3 percent is down from 3.7 percent in August and matches the previous low of 3.3 percent set in 1967.


DES says the statewide employment of 2.7 million also is a record, up 6,000 jobs from April of this year even as construction employment slipped to 240,000 in September from a peak of 254,600 in October 2006.


Tucson's unemployment rate dropped four-tenths of a percentage point from August to 3.2 percent and is down from 3.9 percent in September 2006, despite the loss of 1,600 construction jobs over the past year.


Wait until January when employers are put out of business if they have hired illegals.

We can't find anybody to hire already.


I have spent literally tens of thousands of dollars to no avail.

If you need a job Please come to Phoenix now

Andrew Hac said...

This will F*CK the Americano to the 18th level of HELL. Server the Americano for voting for that SHRUB and SHOOTER 8 years in a row. How dumb-ASS can the Americano be ? The world can only wonder and shake their heads in disbelieving !!!

Anonymous said...

It's a sale - go buy stock

Tangelo Mozilo said...

Jambu whined . . .

"If I bought things in iPhones or
Euros or gold . . ."

-----------------------

Jambu, the point is that you buy iPhones, and bread, and gasoline, and anal beads, and whatever WITH dollars.

No matter how many dollars you have, if it takes more dollars to buy those things you are still in a worse position.

Pretty soon your dollar bills will have two uses. If you don't snort coke, they'll only have one.

Anonymous said...

Dopes said

Housing and Stock Market a buying oppurtunity

Anonymous said...

Jason Vorhees crashed the stock market party today.

When Ben cuts rates next week, then
Freddy Kruger and Micheal Myers will gladly join the party.

SeattleMoose said...

Jambu is either a troll or seriously deluded.

Keep waving that flag big guy.

Anonymous said...

Just as I suspected would happen when he said he had a funny feeling this week, Keith "obviously" predicted the markets fall today. Don't you all get tired of being so negative about the USA and the dollar? I am assuming that none of you have jobs, because working for worthless dollars just isn't worth the time. You might as well hang out in your armageddon bunkers and lay your heads on all the gold bars you obviously own. The rest of society is going to continue on with our daily lives, trying to enrich our own lives and the lives of others, and if the stock market crashes and/or the housing market crashes, life will go on. Oh -- and I am assuming that all of you who are so negative towards realtors and REICs never sold any real estate for more money than it was worth in 2001... because if you did, you are a hypocrite.

Peace.

Anonymous said...

"Bush said today that he would bring down gasoline prices by creating enough political good will with oil-producing nations that they would increase their supply of crude."

Regrettably it looks more and more like world peak oil happened in 2005, just as US peak oil happened in 1970.

The reason oil output won't rise is because it can't. And by the way, the real OPEC reserves are probably only about a third of the official numbers.

Anonymous said...

The true believers in the stock market cannot be dissuaded from their delusion. I hope for a crash and chaos, where government thugs and troublesome minorities are hunted down.

Ron said...

Man I hate stupid people, so IF the Dow loses 5k points it is still ok because it is historically up? It was at 4k in the 80's just look it has twice the value now we still are ok.

Shaaaaddduuup!

Anonymous said...


as renewed credit concerns, lackluster corporate earnings and rising oil prices spooked investors.


For once I'd like to see a headline like

Dow down 300 today and we haven't a clue as to why.

Anonymous said...

You do realize the dollar is down 20% the past year?

steely dan said...

Black Friday meets Black Monday.

-812 points (on Monday.)

PANIC SELL-OFF!!!!!!!

><

Anonymous said...

"I hope for a crash and chaos, where government thugs and troublesome minorities are hunted down.
"

I agree 100%. Let the crash begin asap !!!!!!!

The sooner, the better !!!!

Veronica Lodge said...

RE: ...in gold or Euro terms, the US market is already in trouble.

Even our beloved vice president is abandoning the once-mighty US dollar:

Cheney has dumped another (estimated) $10 to $25 million in a European bond fund which tells us that he is counting on a steadily weakening dollar. So, while working class Americans are loosing ground to inflation and rising energy costs, Darth Cheney will be enhancing his wealth in "Old Europe".

This should put to rest once and for all the foolish notion that the "Bush Economic Plan" is anything more than a scam aimed at looting the public till. The whole deal is intended to shift the nation's wealth from one class to another. It's also clear that Bush-Cheney couldn't have carried this off without the tacit approval of the thieves at the Federal Reserve who engineered the low-interest rate boondoggle to put the American people to sleep while they picked their pockets.

Reasonable people can dispute that Bush is "intentionally" skewering the dollar with his lavish tax cuts, but how does that explain Cheney's portfolio?


The rest of this article can found HERE.

V.L.

Anonymous said...

.



I got jammies just like those!




blowfly





.

Anonymous said...

Youse is awll DOPES. Period!

Anonymous said...

PPT is smoking the printing machine the entire weekend to make Monday look rosy.

Anonymous said...

Ladies & gentlemen, let's welcome our new troll-Bushie bot, Jambu.

So what kind of parasite are you Jambu? Another Blackwater idiot who think's Rambo...perhaps Giuliani toilet paper holder...Karl Rove's official Vaseline applicator, what? You can tell us.

rope-a-dope said...

10/22/2007

PPT busy today making Keith look like a fool. Markets are up, gold kicked to the curb, and more double-speak from the Fed and Treasury about maintaining stable markets.

Umm, err -- DOPES!