Stocks: Market Crash Looming

[squarepusher]

I don't know about you guys but Im seeing way too many blog posts, articles, and forum mentions about Monday likely being a really, really bad day for the markets. Batten down the hatches folks!

im short dow futures, i hope so

 

[RonPaul4America]

Oracle is making further job cuts related to its acquisition of Sun Microsystems, primarily in Europe and Asia, the company said in a regulatory filing Friday.

http://www.businessweek.com/idg/2010-06-04/oracle-to-lay-off-more-sun-workers.html



Finance ministers from the world's leading economies yesterday called on indebted countries to speed up the pace of their austerity drives in the wake of the Greek crisis, in order to ease fears on the markets over sovereign finances.

http://www.guardian.co.uk/world/2010/jun/06/g20-eurozone-crisis-bank-tax

 

[Original_Intent]

I don't know about you guys but Im seeing way too many blog posts, articles, and forum mentions about Monday likely being a really, really bad day for the markets. Batten down the hatches folks!

Usually a sure sign it will be pumped up 300 points.

 

[angelatc]

Usually a sure sign it will be pumped up 300 points.

That was my thought. I saw the futures down 308 earlier today, but that figure doesn't really seem to mean anything.

 

[squarepusher]

futures are again, lobster red!

 

[Lafayette]

futures are again, lobster red!

Asian markets down -2-4%

Europe and US futures red across the board

 

[eric_cartman]

the Asian markets are only down big because they are playing catch up from the 300+ point decline in the US on Friday. US futures are down... but only down like 60ish at the moment.... so nothing to get too excited about.... and there's no new news right also... just the same stuff that was happening on Friday. So i think we might have another month or two before we break support and head lower. i could be wrong, and i think we'll head lower, but it doesn't have to happen within the next few days or weeks, it could be a couple months away still.

 

[Pants]

market

Market is going to crash on Monday.. What little I had in my 401K, I moved into bonds.. That trade will take affect during the opening bell.. So if the market crashes it will be because of me..

I got laid off on May 20th.. I figured I didn't want the value of my 401K to drop 30% in the event I need to take out a hardship withdrawl.

I usually am the one to cause trends.. When I paid off my Home Depot Credit Card.. Home Depot reported record profits.. When I paid off my Chase card.. Chase reported a record profit.. Just to give you some insider's trading.. I am paying off my American Express card tomorrow.

Asian markets down -2-4%

Europe and US futures red across the board

 

[HOLLYWOOD]

im short dow futures, i hope so

Careful... the FED is meeting to jack the Discount Rate or insinuate just that. hmm, so the markets stabilize a bit.

I presume the PPT has burned a lot of FRNs last week....more printing under the cloak of National Security to continue.

 

[Che]

futures are trending up.

 

[HOLLYWOOD]

MORGAN STANLEY - Closing 300 offices and laying off 1200

http://www.foxbusiness.com/story/markets/industries/finance/morgan-stanley-brokerage-cuts/

Morgan Stanley Not Done with Brokerage Cuts 300 Offices / 1200 gone


By Charlie Gasparino

(MS: 25.92, -0.56, -2.11%) has plans to shutter 300 branch offices and slash as many as 1,200 jobs over the next year as part of a plan to cut costs related to the merger of its brokerage division with Citigroup's (C: 3.73, -0.065, -1.71%) Smith Barney, FOX Network has learned.
As previously reported by FOX Business, Morgan Stanley has already cut 200 jobs, mostly support staff, as part of the merging of the two divisions. But people close to the firm say officials at Morgan are far from finished as they attempt to squeeze $1.1 billion in savings from the deal by the end of 2011, and that means slashing jobs, and shuttering hundreds of branches.
A Morgan Stanley spokesman declined to comment on the job cuts and the branch closings other than to say that the firm isn't "pulling out of markets and we are not shrinking financial advisers."
[/color]

 

[Carson]

Market is going to crash on Monday.. What little I had in my 401K, I moved into bonds.. That trade will take affect during the opening bell.. So if the market crashes it will be because of me..

I got laid off on May 20th.. I figured I didn't want the value of my 401K to drop 30% in the event I need to take out a hardship withdrawl.

I usually am the one to cause trends.. When I paid off my Home Depot Credit Card.. Home Depot reported record profits.. When I paid off my Chase card.. Chase reported a record profit.. Just to give you some insider's trading.. I am paying off my American Express card tomorrow.

So your the guy!

Weird when things like that happen isn't it.

I hope things work out on the being lain off thing.


I had a dream the other day where I was paying someone off and the hundreds looked to small and I dug down and was relieved to get to thousand dollar bills to count out.

I hope I wasn't buying gas or bread or something.

 

[tiresmokindad]

Wuh Woh

It's October, time for a crash. It's not that easy is it? Is it?

http://www.safehaven.com/article-14697.htm

Yes I think. Although it is difficult we should do it.

 

[Sarge]

CL,

I hope you are OK. No word for awhile.

Stage right San Diego Grand Jury suggest that they consider BK they are so broke.

http://www.sandiegoreader.com/weblo...nd-jury-says-city-should-consider-bankruptcy/

Stores still closing left and right.

Job cuts coming up big time. Not going to post them all.

"Ambac Warns of Default as Bondholders Organize"

All is well if you believe in fairy dust.

 

[RonPaul4America]

Mortgage Purchase Applications Continue to Plummet

 

[HOLLYWOOD]

Mortgage Purchase Applications Continue to Plummet

What housing market recovery? That's the question that realtors must be asking themselves since the end of the government tax credit. Mortgage applications from purchases continued to fall last week by another 5.7%, according to the Mortgage Bankers Association. They're down an amazing 42.4% since the credit expired at the end of April. Americans' demand for buying homes has sunk an incredibly low level.

Welcome RonPaul4America, to the Best Frigin Thread in the Economic World!

YEAP... the artificially PHONY/FONY/BALONY economy, is all propaganda BS talking points for the current regime to pounce on the people.

Maybe Uncle Ben needs to dump a few trillion more into the economy... yeah, that will fix it because the first $23 Trillion in backing didn't work.

ALL HAIL working at Mall Food Courts and crappy jobs for less and less! Great job Washington DC!

Fiscal Lunatics running the show... all to save power for their Masters and Themselves @ our expense.

 

[devil21]

For a while the For Sale and For Rent signs slowly disappeared from my neighborhood. Now they're coming back with a vengeance....scary fast. Definitely related to the expiration of the tax credit. What I fear is that the tax credit created another real estate bubble since people bought houses looking for the free $8000 cash. Lending standards improved yes. But how many are going to lose their jobs as the (real) economy continues to crumble and those houses go right back into foreclosure? In the end it will be just a bunch of free money for the buyers (blown on crap Im sure) and even more garbage on the bank's books.

 

[Sarge]

Jobless Claims actual 456K. Prior week was 453K. Consensus was for 448K.

Yes, things are getting better all. Just believe what they say.

There will be more for sale signs shortly.

 

[Lafayette]

I still see the same for sale/lease signs i've been seeing for the past 2 years, ill notice a new one pop up every now and then. They never seem to go away though.


There was a commercial building that went up maybe early - mid 2009 with 6 store spaces. Only 2 are rented, a subway and a store that sells milk, baby formula, cereal, etc that takes food stamps and WIC coupons. Its always packed.

Of course it helps that there is a government WIC building right next door

Its also strange, the cars that are in the parking lot are mostly SUV's with nice shinny wheels

 

[audienceofone]

Since all police departments in my area are cutting pay and laying off lots of their force, I am now hearing radio ads from local gun stores using that fact to try to get customers. Totally creepy.