Black Monday

[thoughtomator]

Here it comes, folks - hold onto your hats

[acptulsa]

Not today. But the volatility seems to be there. This makes me suspect that this could be the autumn we get a fat correction, especially if some more major bad news comes along.

[smokemonsc]

Here it comes, folks - hold onto your hats

[Dianne]

China was -850 last night. Hang on to your wallet.

[thoughtomator]

oh $#@! Down down 850

[Dianne]

Ouch, U.S. market already -650 within seconds of opening.

[Bern]

[thoughtomator]

all markets halted limit down

S&P futures halted for the first time ever

[thoughtomator]

Ouch, U.S. market already -650 within seconds of opening.

Dow hit four figures down

[Lafayette]

Don't people know the market is only supposed to go in one direction?

Fear not, auntie Yellen will be along soon to get things moving in the correct direction.

[thoughtomator]

PPT in action big time right now

[Madison320]

Don't people know the market is only supposed to go in one direction?

Fear not, auntie Yellen will be along soon to get things moving in the correct direction.

Get ready for a statement that rate hikes are off the table.

[Lightweis]

I just made the bank. Thank you panic sellers. Buy the dip works everytime.

[Uriel999]

I just made the bank. Thank you panic sellers. Buy the dip works everytime.

I'm jealous. I didn't check the news this morning until about 30 minutes after it spiked back up.

[Lightweis]

I'm jealous. I didn't check the news this morning until about 30 minutes after it spiked back up.

Played it damn perfectly just like i thought on Friday. Panic sellers flood market for the open, buy the dip man.

[Zippyjuan]

all markets halted limit down

S&P futures halted for the first time ever

To limit down, the DOW needs to drop 1700 points.

Market seems to have bottomed and is rebounding. DOW was down about 1000 earlier but has come back up and is currently only down about 250.

[thoughtomator]

brace yourselves for the second wave... market does NOT want to be where the PPT wants it to be

[AuH20]

brace yourselves for the second wave... market does NOT want to be where the PPT wants it to be

So very true. Reality and PPT are at odds.

[thoughtomator]

after erasing a 1000-point drop, the Dow is down 450 again and there's still over 2 hours of trading left to go

it wants to be below that 1k drop level... badly. How long can it be propped up?


(edit) and as I was typing it popped 100 points in the other direction in seconds! This is theatre of the absurd territory

[AuH20]

after erasing a 1000-point drop, the Dow is down 450 again and there's still over 2 hours of trading left to go

it wants to be below that 1k drop level... badly. How long can it be propped up?


(edit) and as I was typing it popped 100 points in the other direction in seconds! This is theatre of the absurd territory

How is that type of volume possible in this uncertain market environment?

[jllundqu]

Even if it stabilized at -450 points... that's insane to think it was down 1000+ at open! If it closed below -400 it would be awful, but the psychological effect of "well at least we 'bounced back' from -1000.... so it can't be THAT bad" mentality is already hitting the talking heads.

[AuH20]

This picture sums up the PPT today.

[thoughtomator]

Even if it stabilized at -450 points... that's insane to think it was down 1000+ at open! If it closed below -400 it would be awful, but the psychological effect of "well at least we 'bounced back' from -1000.... so it can't be THAT bad" mentality is already hitting the talking heads.

they are hard wired to spin everything as a positive sign for the markets

going back for another test of that 16k level now

[Brian4Liberty]

People talk over the weekend. Panic selling at the open.

No doubt the markets were overpriced, and a correction had to happen. The big players love this. They sold and took out shorts months ago. Now they will reap the rewards, and then buy back in.

The Fed will give some more money to companies on the major indices, and they will buy back more of their stock as they have been doing for years.

[wizardwatson]

Is This Black Monday Crash The BIG ONE? It Doesn’t Matter

http://www.theautomaticearth.com/201...doesnt-matter/

After losing 11% last week, Shanghai this morning was down almost -9% at one point, after lunch went back up to -6.5%, and ended its day at -8.49%. A Black Monday for sure, but is this the BIG ONE? It really doesn’t matter one bit. Unless perhaps you persist in calling your self an investor, in which case we pity you, but not for losing your shirt. Because God knows we’ve said enough times now that there are no functioning markets anymore, and therefore no-one who can rightfully lay claim to the title ‘investor’.

Plenty amongst you will be talking about economic cycles, and opportunities, and debate how to ‘play’ the crash, but all this is useless if and when a market doesn’t function. And just about all markets in the richer part of the world stopped functioning when central banks started buying assets. That’s when you stopped being investors. And when market strategies stopped making sense.

Central banks will come up with more, much more, ‘stimulus’, but what China teaches us today is that we’re woefully close to the moment when central banks will lose the faith and trust of everyone. After injecting tens of billions of dollars in markets, which thereby ceased to function, the global economy is in a bigger mess then it was prior to QE. The whole thing is one big bubble now, and we know what invariably happens to those.

More QE is not an answer. And there is no other answer left either. Those tens of trillions will need to vanish from the global economy before any market can be returned to a functioning one, and by that time of course asset prices will be fraction of what they are now. It may not happen today, but that doesn’t matter: what’s important to know is that it WILL happen.

More at link...

[Brian4Liberty]

It's ironic how many people in the Ministry of Truth (CNBC, Fox Business, etc) are lamenting lower oil (and gasoline) prices. Sure that doesn't help the energy sector, but it helps every other sector! All other companies should rally on lower energy prices, especially transportation and airlines.

[Anti Federalist]

Plenty amongst you will be talking about economic cycles, and opportunities, and debate how to ‘play’ the crash, but all this is useless if and when a market doesn’t function. And just about all markets in the richer part of the world stopped functioning when central banks started buying assets. That’s when you stopped being investors. And when market strategies stopped making sense.

truth

[Anti Federalist]

Plenty amongst you will be talking about economic cycles, and opportunities, and debate how to ‘play’ the crash, but all this is useless if and when a market doesn’t function. And just about all markets in the richer part of the world stopped functioning when central banks started buying assets. That’s when you stopped being investors. And when market strategies stopped making sense.

truth

[smokemonsc]

It's ironic how many people in the Ministry of Truth (CNBC, Fox Business, etc) are lamenting lower oil (and gasoline) prices. Sure that doesn't help the energy sector, but it helps every other sector! All other companies should rally on lower energy prices, especially transportation and airlines.

I think in End the Fed (Ron Paul) he had a chapter on how on the Fed causes what would normally be a sharp correction/recovery within a specific industry ends up spreading the pain to all industries due to how funny money (cheap credit and QE) distorts market prices. Man it's been awhile since I've read that, (2007?).

[smokemonsc]

So very true. Reality and PPT are at odds.

Dow about to cross -666 again.