Stocks: Market Crash Looming
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HOLLYWOOD
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Damn... We did bust through everything today
Today’s support: - 9885.70 and 9860.72(main),
Break of the latter will give 9838.11 where correction also can be.
Then follows 9786.40
Be there a strong impulse, we would see 9767.50
Continuation will bring: 9742.44
Last level and Trip Wire: 9714.37.
CLOSE: 9712.73 <=== BOOM!
Today’s support: - 9885.70 and 9860.72(main),
Break of the latter will give 9838.11 where correction also can be.
Then follows 9786.40
Be there a strong impulse, we would see 9767.50
Continuation will bring: 9742.44
Last level and Trip Wire: 9714.37.
CLOSE: 9712.73 <=== BOOM!
ChooseLiberty
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FWIW:
Since there seems to be a lot of people reading this thread. So just to be clear -
The big volume today was at a trendline from August / 50 dma, not the trendline from the article in the first post.
The trendline from the article first post starts in March and still about 9600 on the Dow for Monday and hasn't been broken yet although all the other major stock indices have broken their March trendlines.
Since there seems to be a lot of people reading this thread. So just to be clear -
The big volume today was at a trendline from August / 50 dma, not the trendline from the article in the first post.
The trendline from the article first post starts in March and still about 9600 on the Dow for Monday and hasn't been broken yet although all the other major stock indices have broken their March trendlines.
fatjohn
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I just want to say that I have an excel sheet where I track the MSCI barra world index with respect to gold. And it's about to break the 1 year moving average to the downside again. The pattern is higly comparable with that in the mid seventies when the ratio more then halved from about 1 to 0.4 in 5 months. Just sayin'
I just hope they will sell gold if the price falls. Dealers just might sit on it.
On another note,
http://www.businessinsider.com/cit-bankruptcy-will-deliver-taxpayers-a-23-billion-loss-2009-10
Everyone needs to remember who to thank for putting us on a 2.3 billion loss when they file for BK. Talk about mal practice. Anyone else would be sued over what they have done to us.
Hey smart Tubro Tax Timmy do we get to write this off as a tax loss for our portion we are going to have to pay? DIPSHIT Timmy doesn't know how to make a deal. How many more Timmy?
On another note,
http://www.businessinsider.com/cit-bankruptcy-will-deliver-taxpayers-a-23-billion-loss-2009-10
Everyone needs to remember who to thank for putting us on a 2.3 billion loss when they file for BK. Talk about mal practice. Anyone else would be sued over what they have done to us.
Hey smart Tubro Tax Timmy do we get to write this off as a tax loss for our portion we are going to have to pay? DIPSHIT Timmy doesn't know how to make a deal. How many more Timmy?
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Another 13 B Turbo Timmy screwed us on.
http://www.thedeal.com/dealscape/2009/10/aig_geithner_and_cdos.php
If I had cost my company 15 BILLION, I would have been fired. The sad part he thinks he is doing a great job. For who, his friends?
Do we get to write this 13 B off also Timmy? FIRE HIM.
http://www.thedeal.com/dealscape/2009/10/aig_geithner_and_cdos.php
If I had cost my company 15 BILLION, I would have been fired. The sad part he thinks he is doing a great job. For who, his friends?
Do we get to write this 13 B off also Timmy? FIRE HIM.
ShowMeLiberty
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ChooseLiberty
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The thing about a crash here is that I read Crammer is predicting a pullback and marketwatch has some crap about the market falling apart on its front page this weekend plus there are a lot of other media talking heads predicting something.
The wedgie is obvious to so many people like the H&S in July. Dow could go one more push up before down to clean out the crowd, make a nice double top on some other indices. Plus the cabal wants the Dow to stay up for shopping season.
It's going to be tough tho since alledgedly the fed stopped quant easing this month IIRC.
May the Great Pumpkin be with you.
The wedgie is obvious to so many people like the H&S in July. Dow could go one more push up before down to clean out the crowd, make a nice double top on some other indices. Plus the cabal wants the Dow to stay up for shopping season.
It's going to be tough tho since alledgedly the fed stopped quant easing this month IIRC.
May the Great Pumpkin be with you.
CL,
I am leaning towards down. Might get a small bump up but, I am hanging tight.
CA gets hit with a 10 percent surcharge on their taxes starting tomorrow night. That is not going to make them happy and will push some more over the edge. Cit likely to file BK before Monday am.
Not sure if you were around during the 87 crash but, this reminds me a lot like then. Things are 1000 times worse except for the interest rates not rising fast yet. That will come. The problem is, when it does happen , it is going to take much longer than 87 one to recover.
We had the radio on at work listening to the market tanking back then. That was likely a piece of cake as compared to what could happen on the DOW and S&P now. Everyone was thinking it is going to bounce back up any minute now. Try years later.
Ben and Tim have painted themselves into a corner, have blown their wad on printing money, and will have no ammo when it happens. They turn on the presses any more and we are history.
Commercial, ALT A and Option ARM loans yet to explode. 400 plus banks to go under yet and no slowing of job losses. Also, foreclosures that the banks have yet to foreclose on or write down before the next wave of foreclosures sinks them for sure.
Don't forget the clocks change for most tomorrow night. Have a great Halloween.
I am leaning towards down. Might get a small bump up but, I am hanging tight.
CA gets hit with a 10 percent surcharge on their taxes starting tomorrow night. That is not going to make them happy and will push some more over the edge. Cit likely to file BK before Monday am.
Not sure if you were around during the 87 crash but, this reminds me a lot like then. Things are 1000 times worse except for the interest rates not rising fast yet. That will come. The problem is, when it does happen , it is going to take much longer than 87 one to recover.
We had the radio on at work listening to the market tanking back then. That was likely a piece of cake as compared to what could happen on the DOW and S&P now. Everyone was thinking it is going to bounce back up any minute now. Try years later.
Ben and Tim have painted themselves into a corner, have blown their wad on printing money, and will have no ammo when it happens. They turn on the presses any more and we are history.
Commercial, ALT A and Option ARM loans yet to explode. 400 plus banks to go under yet and no slowing of job losses. Also, foreclosures that the banks have yet to foreclose on or write down before the next wave of foreclosures sinks them for sure.
Don't forget the clocks change for most tomorrow night. Have a great Halloween.
HOLLYWOOD
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FWIW:
Since there seems to be a lot of people reading this thread. So just to be clear -
The big volume today was at a trendline from August / 50 dma, not the trendline from the article in the first post.
The trendline from the article first post starts in March and still about 9600 on the Dow for Monday and hasn't been broken yet although all the other major stock indices have broken their March trendlines.
Yeah... I kinda discarded the NASDAQ, but, even the analysts and brokers were all commenting about it has taken HUGE hits. The broker I know is more colorful, he said NASDAQ took a beating like a Red-Headed Step Child. I told him to watch the CNBC's broadcast yesterday of Intel's CFO... didn't sound so optimistic on IT spending in the future. You can definitely see how he played the interview.
The floor guys and my contacts are all saying Monday is going to be ugly... Heck they were looking for a 5-10% correction anyways. So we're on our way...
Like you posted and likewise, they all want a quick profit take, correct a bit, then spew the propaganda cards on how the market is on it's way up and the economy has turned around, all for Suckers and Consumers to run up the credit cards, Buy -N- Spend. Dubya Bush revealed who really controls the economy back in 2001... "Just Go Shopping"
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H,
Just saw this,
"Chrysler Group LLC confirmed Saturday about 23,000 hourly workers will receive buyout offers as the auto maker continues trimming jobs amid planned plant closures and falling product demand."
I know who gets to pay for the buyout. Draw down by Chrysler from US. Another 23,000 who likely haven't saved enough and will shortly be having problems.
Just watched a video on Market Watch with a guy talking about the debt wall ready to hit. He said AHCA hospitals and Hilton have big problems coming up. He was talking about even if half of private equity Trillions of debt can't be refinanced go under the resulting job losses and debt losses are going to be worse than ugly. He said the wall has hit and will go on for the next two years getting worse as it goes along.
My guess is the banks can't extend these over priced loans out long enough to make any difference. The debt still has to be serviced, and all they will do is magnify the problems when they do go under.
Hilton is scrambling right now. How did the Fed end up owning 4 B of their debt? No way we should be bailing out Hilton.
http://www.emii.com/Articles/232678...s/Blackstone-Seeks-To-Cut-5B-Hilton-Debt.aspx
Just saw this,
"Chrysler Group LLC confirmed Saturday about 23,000 hourly workers will receive buyout offers as the auto maker continues trimming jobs amid planned plant closures and falling product demand."
I know who gets to pay for the buyout. Draw down by Chrysler from US. Another 23,000 who likely haven't saved enough and will shortly be having problems.
Just watched a video on Market Watch with a guy talking about the debt wall ready to hit. He said AHCA hospitals and Hilton have big problems coming up. He was talking about even if half of private equity Trillions of debt can't be refinanced go under the resulting job losses and debt losses are going to be worse than ugly. He said the wall has hit and will go on for the next two years getting worse as it goes along.
My guess is the banks can't extend these over priced loans out long enough to make any difference. The debt still has to be serviced, and all they will do is magnify the problems when they do go under.
Hilton is scrambling right now. How did the Fed end up owning 4 B of their debt? No way we should be bailing out Hilton.
http://www.emii.com/Articles/232678...s/Blackstone-Seeks-To-Cut-5B-Hilton-Debt.aspx
HOLLYWOOD
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It's ALL DIRTY NOW...
Yeah, One thing you will always notice about the Federal Government is to put some intermediary/secondary wall between their operations and the entity being addressed. This way if it "Blows Up" they don't have egg on their face... it doesn't matter what agency/department/party etc... watch this one get blamed all on Cerberus, Fiat, and off course Chrysler. After they're dead, Uncle Sugar can conjure-up any excuses. Wash-Rinse-Repeat... saw it all first hand in my years supporting these numbskills.
It's so sad that the Auto industry in America has gone from almost 4 Million in 1970 to less than 300 thousand today, and still declining.
Did you hear GM CEO Fritz Henderson... they "Probably" won't need another stimulus. Are you kidding me? Oh, while he just met with organized crime boss & Russian Oligarch, Deripaska.
FBI Lets Barred Tycoon Visit U.S.
http://online.wsj.com/article/SB125685578903317087.html
Nezavisimaya Gazeta
Mr. Deripaska, left, in Detroit on a recent trip to the U.S. arranged with FBI help. Beside him is GM's chief executive, Fritz Henderson.
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Cit supposedly having meeting re filing BK this afternoon.
Take a look at this,
http://jsmineset.com/2009/10/31/cit-to-carpet-bomb-middle-american-business/
Halloween sales might be down 1B. If that is right think reverse multiplier.
If Sinclair is right on the small business BK potential, millions more jobs are likely lost. We all know what that will do to foreclosures. Time will tell. Might know if they file today.
Terry Landry cautioning a dangerous time for the market right now. Many thinking pop next week, he is thinking drop.
Wyoming now experiencing job losses. Foreclosures starting to spread to rural areas.
Take a look at this,
http://jsmineset.com/2009/10/31/cit-to-carpet-bomb-middle-american-business/
Halloween sales might be down 1B. If that is right think reverse multiplier.
If Sinclair is right on the small business BK potential, millions more jobs are likely lost. We all know what that will do to foreclosures. Time will tell. Might know if they file today.
Terry Landry cautioning a dangerous time for the market right now. Many thinking pop next week, he is thinking drop.
Wyoming now experiencing job losses. Foreclosures starting to spread to rural areas.
Israel down for the fourth day today. 2/3plus percent depending on the index.
http://www.globes.co.il/serveen/globes/DocView.asp?did=1000510037&fid=1051
Next, we get to see what Asia does then Europe. Extra hour on the futures tonight with the time change.
http://www.globes.co.il/serveen/globes/DocView.asp?did=1000510037&fid=1051
Next, we get to see what Asia does then Europe. Extra hour on the futures tonight with the time change.
Rut Roh!
Let's see, 873B outstanding on credit cards that they just jacked up to 30 percent interest. FAIL coming in 90 days if that long. After 30 days the interest is going to sky on the card holders. No way they can pay it all off in one month.
http://www.nytimes.com/2009/11/01/business/economy/01citi.html?_r=2&8dpc
All might want to read this one close.
Head Slam. We have loaned them 340B. Great investment. Head Slam again.
Let's see, 873B outstanding on credit cards that they just jacked up to 30 percent interest. FAIL coming in 90 days if that long. After 30 days the interest is going to sky on the card holders. No way they can pay it all off in one month.
http://www.nytimes.com/2009/11/01/business/economy/01citi.html?_r=2&8dpc
All might want to read this one close.
Head Slam. We have loaned them 340B. Great investment. Head Slam again.
ChooseLiberty
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After playing with some more charts it looks like the Dow has broken its March trendline on the log chart but not on the regular chart. Doesn't look good and maybe we find out whether it's a 30's or a 70's style crap sandwich or maybe a hyperinflation crap sandwich.
Read this one. China exports to US in OCT down 37 plus percent. There went Holiday sales.
http://www.bloomberg.com/apps/news?pid=20601087&sid=acNof3JbhGME&pos=5
If not shipped not here. Sept. was also down. Not much of a chance even for a break even last quarter. Anything shipped now will not hit until next year. November already gang.
That is a staggering drop. Close to 40 percent.
http://www.bloomberg.com/apps/news?pid=20601087&sid=acNof3JbhGME&pos=5
If not shipped not here. Sept. was also down. Not much of a chance even for a break even last quarter. Anything shipped now will not hit until next year. November already gang.
That is a staggering drop. Close to 40 percent.
CL,
Think whipsaw one way and then whipsaw the other way with inflation. My thoughts. They are in a box. Turbo Timmy so much as admitted it today on Meet the Press.
Tell me what happens when all that 870B credit card loans defaults. There is no way they can keep up with 30 percent interest payments. Every month the interest will build faster than the majority can pay. They walk and default and there is likely going to be a mass default of people left unwilling to any longer pay taxes to support all the walkers or corrupt govt.
Throw on the 1 TRILLION health care fiasco and it only gets worse. Let me say by the time 2013 comes around Citi and Cit along with 400 other banks will have taken us down long before healthcare blows up.
Think whipsaw one way and then whipsaw the other way with inflation. My thoughts. They are in a box. Turbo Timmy so much as admitted it today on Meet the Press.
Tell me what happens when all that 870B credit card loans defaults. There is no way they can keep up with 30 percent interest payments. Every month the interest will build faster than the majority can pay. They walk and default and there is likely going to be a mass default of people left unwilling to any longer pay taxes to support all the walkers or corrupt govt.
Throw on the 1 TRILLION health care fiasco and it only gets worse. Let me say by the time 2013 comes around Citi and Cit along with 400 other banks will have taken us down long before healthcare blows up.
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