Down goes the Dow

oh you wrote revenues not profits. My bad.

I couldn't find any data on revenue easily - do you know the number? I would guess around 4%. Which is not great, no.

didn't you say... wrote:

Klondike5 wrote:

I thought so too.

So I had to wait ten months before the sell-off.

It happens.

In with the Dow at 9k, out at 15k. The goal is back in well below $15k

That sounds like the same thing you were saying at the end of January.

Exactly. You are an effin genius

Klondike5 wrote:

didn't you say... wrote:

That sounds like the same thing you were saying at the end of January.

Exactly. You are an effin genius

And as I recall, you were wrong.

Klondike5 wrote:

Another good beating.

Panic over the week-end.

A real sell off on Monday

And it was about that same time that you said something eerily similar to this. You were wrong then, too.

didn't you say... wrote:

Klondike5 wrote:

Exactly. You are an effin genius

And as I recall, you were wrong.

Why? Did the stock market close for good at where it stands?

Ok, so its just sector rotation, everything is fine.

Klondike55 wrote:

didn't you say... wrote:

And as I recall, you were wrong.

Why? Did the stock market close for good at where it stands?

After January it actually went up, which is why you were wrong....again.

Maserati wrote:

Last post of the day: DJIA now down 1% on the day, NASDAQ down 1.5%

The day (Friday) is not yet over, but it will be Monday that will be really interesting.

Options Sellers and market hedgers were holding the market up today keeping the range tighter than it would have been. The POMO desk also works until 11AM on Fridays when there is a Treasury buy.

If you look on the daily charts you can see the market rally until 11AM and then selloff, keeping a tighter range than premarket trading showed, a shearing of daytraders.

Apparently this is easy to do with HFT. Monday this range trading is gone by Market hedgers and daytraders will be more cautious and only 3 days next week have POMO.

Volume was average. Last 4 weeks the typical pattern of higher down day volume vs up day volume grew, the discrepancy was getting bigger.

I would say this market wants to correct 10-15% or so more from here and test the October 2013 lows and it could do it fast or it could take all summer, who knows. I would not try to trade this market, and if I was long I would 'rotate into cash'.

and also the market is a joke, probably a third of the market cap of Nasdaq 100 doesn't make a standard GAAP profit. Business schools will be teaching computer programmers about these accounting charades decades from now.

I think the POMO is overrated. I tend to lean more towards the Kneifling Ratio as a more accurate prognosticator. Meanwhile things are cooling, but the end is nowhere in sight.

Pointing Out the Obvious wrote:

Meanwhile things are cooling, but the end is nowhere in sight.

Please explain what "the end" is, in your book.

And, since your timeframe is "nowhere in sight", how far can you currently see?

Thanks in advance for something meaningful.

pinning down a detail wrote:

Pointing Out the Obvious wrote:

Meanwhile things are cooling, but the end is nowhere in sight.

Please explain what "the end" is, in your book.

And, since your timeframe is "nowhere in sight", how far can you currently see?

Thanks in advance for something meaningful.

Personally, I'd ask the exact same thing.

pinning down a detail wrote:

Pointing Out the Obvious wrote:

Meanwhile things are cooling, but the end is nowhere in sight.

Please explain what "the end" is, in your book.

And, since your timeframe is "nowhere in sight", how far can you currently see?

Thanks in advance for something meaningful.

Please ignore the imposter above. As to your questions, "the end" refers to a local max/min in the context of the discussion. And with regards as to how far I can see, the answer is no further than anyone else given the obvious parameters if the market. In other words, infinitely past, but not forward.

Pointing Out the Obvious wrote:

In other words, infinitely past, but not forward.

Could you shed some light on the big mystery as to the state of the universe prior to the big bang?

SOS wrote:

Pointing Out the Obvious wrote:

In other words, infinitely past, but not forward.

Could you shed some light on the big mystery as to the state of the universe prior to the big bang?

I'm sorry, but that is outside of the obvious parameters of the market.

"The POMO desk also works until 11AM on Fridays when there is a Treasury buy". No different than any other day.

http://www.newyorkfed.org/markets/tot_operation_schedule.html

1Operations are tentatively scheduled to begin around 10:15 AM and close at 11:00 AM unless noted otherwise.

Drop you SOB.

Panic sell off begins in earnest next week.

SOS wrote:

Pointing Out the Obvious wrote:

In other words, infinitely past, but not forward.

Could you shed some light on the big mystery as to the state of the universe prior to the big bang?

Yes, of course. Couldn't you?

didn't you say... wrote:

After January it actually went up, which is why you were wrong....again.

And presumably you have a point somewhere in there.

Pointing Out the Obvious wrote:

didn't you say... wrote:

After January it actually went up, which is why you were wrong....again.

And presumably you have a point somewhere in there.

Yes, of course.