Down goes the Dow

Woosh!

Euro markets way down on Monday.

Too late to bail now?

Enjoy the ride down.

Ghost of Igloi wrote:

Financial Advisor wrote:

PEs of 100 or higher are not unusual. For example, TREE is currently at 143.

Ignorant response from a financial advisor.

Enlighten me as to what about my post you consider to be ignorant.

Not unless you have real plans for the proceeds.

IMO this is not the big one. Same kind of excitement happened not long ago, and plunge protection worked. The ship is still on course, but it has lost a bit of steam. We will see how the fires get stoked. This will continue until the very last possible instant this time around.

Maserati wrote:

Not unless you have real plans for the proceeds.

No. I plan to piss my money away. Why would anyone have actual need of or plans for their investments.

As opposed to some vague desire to sit on cash and stuff your mattress while the dollar sinks.

Everything is only a trade, and while some degree of liquidity is good, sitting in cash probably isn't, unless you are very rich.

Once again I have places where I can profitably deploy capital, but I wouldn't suggest to any normal person that they get out of the US equity markets just yet, depending of course on their situation.

The indicators are all there, but not quite ripe as I see it. Only because I am very conservative did I already take my gains and pivot. I can actually see a period of relative stability for the near future, during which a normal retail investor wouldn't want to miss out on dividends, or wouldn't want to expose themselves to short term CG, or wouldn't want to incur inefficient transaction costs.

I can see the logic in remaining in the markets at the moment.

Financial Advisor wrote:

Ghost of Igloi wrote:

Ignorant response from a financial advisor.

Enlighten me as to what about my post you consider to be ignorant.

You corrected Igy. Igy doesn’t like to be proven wrong. Igy lashes out at those who do so. Igy calls you ignorant because you favor the truth over what Igy wants us to believe.

VIX at 20ish - only been much higher once in the last five years. Much fear out there right now.

We're now a not very terrifying 5% down from all time highs.

Traders trading.

Bonds are holding their value today, which is bullish for stocks. People seem to get easily freaked when bond prices fall.

Maserati wrote:

I can see the logic in remaining in the markets at the moment.

Just as you saw the same logic in 2008 I am willing to bet.

Dunno about you, but I am in no hurry to lose 30% to 50% of my liquid assets.

Dow down another 300 plus today so far.

A brief mid morning rally has been swamped

Looks like the wknd may have given people time to think, which is always a bad thing. :)

On a percentage basis, this is, like agip said, still pretty minor. Traders trading, mostly.

In ‘08 I was in-and-out, like i am now. If this turns out to be a big deal, i will have avoided this drawdown, too, but this one is more serious. But i still don’t see catastrophe at the moment. In fact i’m not even ready to make a big buy...although i do need to give that some thought soon. I sell pretty quickly, but i do not buy so quickly, so i have time no matter what.

DJIA under 25k at the moment, which still represents a high level IMO. The question is to what level do things need to go to to trigger meaningful margin calls.

I think there is a big political dimension to this, but i don’t know how. What i DO know is that following the big-money people i know has never failed. They are always pro-active, always ahead. It will be interesting to see when they start buying again. It really is “taking profits”, as often they just buy back the same things they sold.

could finish down 1000 for the day

Racket wrote:

could finish down 1000 for the day

I'm out.

I stick a little over $200k into equities a little over a week ago and lost over $10k.

Got out with the Dow at 25k a little over 1/2 hour ago.

Dow down nearly another 1k since then!

Enjoy the ride folks

Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy Iggy called it!

The inside conmen are fleecing the suckers and the suckers can't even see it.

The Dow is bouncing up and down 100s of points every few minutes.

Plunge protection active.

Big deal, markets have given up almost a month of gains. Pretty much meaningless.

Ramp attempt has begun, right on time. What a total scam.

What is funny is hearing Cramer babbling.....not a coherent thought.....

You’re watching TV?! WTF Igy.

Nothing for me to do but watch people lose their mind.