I ran in to a Big Citi Trader at the lolla shows tonight, Its on they have been on the phones all day. Futures 1170.00 I hope we don't break 1150, after that then its circuit breaker time, after that bank holiday time. This is not the change we are looking for.

8/8/2011 12:07:04 AM

It must be a heavy burden, actually knowing what is going on.

8/8/2011 12:24:11 AM

all you had to do was pay attention this is nothing special

8/8/2011 12:46:34 AM

On a day like today I feel the pressure to select just the right song lyric for this thread to ease the pain you must feel for being a huge sucker owning stocks during a global debt & liquidity crisis. I feel like I am supplying opiate to the masses.

I hear a voice in my mind
I know her face by heart
heaven and earth are moving in my soul
I don't know where to start
tell me, tell me, the words to define
the way I feel about someone so fine
how do you talk to an angel
how do you hold her close to where you are
how do you talk to an angel
it's like trying to catch a falling star
at night i dream that she is there
and I can feel her in the air
tell me, tell me, the words to define
the way I feel about someone so fine
how do you talk to an angel
how do you hold her close to where you are
how do you talk to an angel
it's like trying to catch a falling star
how do you talk to an angel
how do you hold her close to where you are
how do you talk to an angel
it's like trying to catch a falling star
how do you talk to an angel
how do you hold her close to where you are
how do you talk to an angel
it's like trying to catch a falling star
yeah, yeah

8/8/2011 12:49:49 AM

lawl ya'll getting trolled by the heavy hitters

8/8/2011 1:11:16 AM

London Bridge isn't falling down falling down


We're gonna be just fine. I'm thinking I'll stay liquid for another week or two and then go all Macy's Black Friday Sale on some companies.

[Edited on August 8, 2011 at 4:40 AM. Reason : .]

8/8/2011 4:39:05 AM

This isn't outright liquidation as gold and the dollar aren't getting trashed. My guess is this is dumb money that didn't get out of stocks during the debt debate panicking.

8/8/2011 8:44:14 AM

Any of you stockpickers that want to bring it, bring it.
But I ain't singing
I'm bringing drama.
Fuck you and your motherfucking mama.

Take money.


Thanks for all the trolling over the years, it makes this so much sweeter. Where's Kris anyway? Doesn't that clown have sickle cell or something?

8/8/2011 10:38:43 AM

I was wondering if it would be possible for this thread to reach a new low.

8/8/2011 10:41:08 AM

Sorry, I just enjoy watching people who call me crazy for years lose their life savings.

I'm not mad at ya, do your thing.

8/8/2011 10:56:03 AM

What about the people who lost their life savings shorting GE, BP, and AAPL?

8/8/2011 11:01:52 AM

Psh, life savings?

8/8/2011 12:01:00 PM

HHahahaha buffet himself just got downgraded. Eat it you pandering thief!

Tell us how much you like capitalism while you take bailouts again you doublefaced bitch

8/8/2011 12:49:39 PM

For some reason face's posts lately have made me think of:

8/8/2011 1:25:28 PM

DOW was down over 600 for a moment. Unreal.

8/8/2011 2:30:48 PM

BAC down almost 20%, pretty brutal.

8/8/2011 2:37:53 PM

I think QE3 is a near certainty right now. This is the sell off. Expect the Fed to provide "additional liquidity" during this "transitory period."

8/8/2011 2:40:39 PM

Who is taking it on the chin today? You guys are quiet as hell.

I dabbled with -2 20s on Intel on Friday that are down mildly and re-bought some INB I had gotten out of awhile back that is down 10%.

8/8/2011 2:42:23 PM

Quote :

"Who is taking it on the chin today?"

everybody?

8/8/2011 2:45:33 PM

Not people that own gold and short instruments.

8/8/2011 2:46:13 PM

The VIX would've been a fun train to be on today.

8/8/2011 2:48:15 PM

I'm up pretty large today.

Gold may have a huge pullback in the near future though if we get forced redemptions as the banks collapse


And that's when ill go from 50% gold and silver and 50% cash to 100% metals

8/8/2011 2:51:43 PM

I haven't watched CNBC this much (I'm out sick today) since I was unemployed and there are at least 2 main themes today.

1) Telling the world that BoA is still a good buy
2) Trying to pin this fall on Europe
and, to a lesser extent
they are sort of casually mentioning Gold because they simply can't ignore it after a move like today.

8/8/2011 2:53:09 PM

thanks to trailing stops triggered early-mid last week, i have been spared the rout since last Thursday... this one time i can confirm i'm not taking it on the chin, although i have have a few unsuccesful attempts at trying to pick a short term bottom. i just bought some TNA as a bet on a bounce.

8/8/2011 3:22:58 PM

What do you do when your stock is untrue. You cut that hooker off and find someone new. I need some more gold, in my liiife

8/8/2011 4:06:06 PM

Futures down 250 at the moment.

8/8/2011 10:24:24 PM

Wow this is getting good, didn't see capitulation today, it was orderly until the final plunge. 1025's next stop. Also you can buy both B Of A and Citi for $9.30 thats scary.

8/8/2011 10:39:28 PM

Can I buy options on it being down 4-500 until the FOMC where QE3 will be hinted and have it finish 300 to the green?

8/8/2011 10:41:38 PM

Gold and silver didn't lose today, but they didn't gain much, either.

8/8/2011 10:55:45 PM

You guys are learning a tough lesson that ultimately stocks aren't just random companies, they actually represent ownership of real companies.

So, they can trade at illusory prices for a really long time, but eventually they revert back to their true value.

In short, don't confuse price for value. They are often very far apart.


Next time the bond market tells you anarchy awaits, you'd be wise to heed its advice. The stock market is always the last to know...


^ gold had close to a record day, and is up an absurd amount in the last few days/weeks

[Edited on August 8, 2011 at 10:59 PM. Reason : a]

8/8/2011 10:57:54 PM

while i don't own any gold stock-wise, i'm grateful for all the various jewelry i bought while gold was roughly $400/oz

8/8/2011 11:12:37 PM

Silver has been relatively stable recently, but it generally lags behind gold. I expect a Fed announcement this week (probably tomorrow) hinting at some kind of stimulus, and a major silver rally over the next couple of weeks.

8/9/2011 12:31:55 AM

gold is up $50 tonight in afterhours.

When are people going to catch on?

Suze Orman, Dave Ramsay, fund managers, investors, Buffett, Krugman, Goldman, etc all missed the boat on the investment opportunity of a lifetime.

Shocking, really. hahaha financial media is definitely the LOL

8/9/2011 12:34:51 AM

The most underreported story right now is the simple fact that gold has outperformed stocks by an embarrassing margin in the past 10 yrs. People take it as an implied fact that over a 5+ yr investment horizon a well-diversified stock portfolio will perform best.

Over the past 10 yrs:
DJIA: +2.83%
Gold: +700%

Over the past 5 yrs:
DJIA: -3.83%
Gold: +260%

Bottom line is I'm damn glad to be in gold right now. And when they announce QE3, itll be 3k here we come!

Btw, some of you may want to check out FSG...double bear, ultra gold ETF. It's pretty sweet in these times.

8/9/2011 12:57:39 AM

great, this thread is being overrun by trolls.

8/9/2011 1:04:08 AM

I'm definitely looking for a bottom for a couple of these stocks. Alcoa (AA) looks like it will bounce back hard once a bottom is hit. It's been my biggest moneymaker as far as blue chips go. Did a little bit of the pennies for bigger gains, but taking a break to prepare for a good bounce in the market soon.

8/9/2011 1:35:57 AM

hahaha this is too much.

First I was called a troll every step of the way for mapping out why stocks would fall hard.

Then stocks started crashing.

Now, I'm a troll for being right.

8/9/2011 1:46:18 AM

Over the past 10 yrs:
DJIA: +2.83%
Gold: +700%
AAPL: +4000%

Over the past 5 yrs:
DJIA: -3.83%
Gold: +260%
AAPL: +470%

Glad i was not in gold

----


Looks like the various precious metal proxies went up the same as the underlying asset. That's good to see.

8/9/2011 2:12:30 AM

I was up ~3% today in stocks. Retirement accounts took a hit, but not going to need those for a while. In the past month or so, I sold all my stocks and bought all precious metals last week. How's that for timing?

[Edited on August 9, 2011 at 2:47 AM. Reason : /]

8/9/2011 2:47:14 AM

Quote :

"Next time the bond market tells you anarchy awaits"

What? The bond market was signaling no such thing.


From the looks of it,DOW futures had a 600 point range overnight and are currently standing at 94 to the green. I haven't looked for news yet, did Europe give out some more bailout candy or something?

8/9/2011 7:07:00 AM

Quote :

"I'm definitely looking for a bottom for a couple of these stocks. Alcoa (AA) looks like it will bounce back hard once a bottom is hit. It's been my biggest moneymaker as far as blue chips go. Did a little bit of the pennies for bigger gains, but taking a break to prepare for a good bounce in the market soon."

I think it's a good call on Alcoa. I bought some more Fluor and some Alcoa yesterday at the end.

8/9/2011 7:58:21 AM

looking to sell that TNA today on a bounce

8/9/2011 9:08:20 AM

I posted the following on 7/27:

Quote :

"Pretty bearish on the market short term. Thinking about buying some SDOW, triple leveraged inverse of the market. Market goes down, you make triple. Maybe do a week long trade or something playing off the debt ceiling debacle 7/27/2011 10:29:07 AM"

For some reason i didnt pull the trigger, but at this time the stock was around $28 per share and closed yesterday at ~$45.5 per share. Thats $17.5 share appreciation in ~10 trading days. I hate myself.

To add salt to the wound I decided to go long last Friday after being bearish for some time, before the announcement and bought SCCO for $30 and RHT for $36 thinking I got a great deal. Then the downgrade happened.

With that said, im calling the bottom of this dip. I think the extreme volatility will continue, but I see a market recovery, albeit a slow one. The UDOW is 3x levered moving with the market so going to try to get in on the upswing with the little capital i have left to deploy

8/9/2011 9:46:00 AM

The bond market was pricing in disaster for several weeks, that's how everyone knew the first leg of the crash was here

[Edited on August 9, 2011 at 10:58 AM. Reason : a]

8/9/2011 10:57:41 AM

^^ Funny thing is, based on your original post, I picked some SDOW up at ~$31. Being the idiot that I am, I got out at $36. Kinda wishing I had held on to it just a few days longer.

8/9/2011 11:06:14 AM

Quote :

"hahaha this is too much. First I was called a troll every step of the way for mapping out why stocks would fall hard. Then stocks started crashing. Now, I'm a troll for being right."

i think that has more to do with your delivery than your content.

i understand the need for expressiveness in order to get a point accross, but we try to keep it fairly civil and informative in these threads.


...i sold some of my TNA this morning.

8/9/2011 1:23:04 PM

Sorry, I've just been trolled so unbelievably hard by Kris and the like in the soapbox over the economic meltdown I couldn't help it. I'll try to go back to being informative.



Ok so huge announcement today, obv the market direction rests on the fed announcing qe3 (up) or saying they'll stay the course (plunge)

I hope for all our sakes they stay the course but I have zero faith in the merciless ruling oligarchs. I will pray for everyone's safety.

8/9/2011 1:44:37 PM

See the thing is most of the rational and informed peoplecon here agree with your general perspective but you're prone to hyperbole that it undermines everything you say.

Yes, the economic growth is stagnant to nonexistent but we are not going to fall in to a country of nomadic barbarians overnight because of it.

And yes, the Fed will eventually announce another round of "stimulus" but I doubt it's today...

8/9/2011 1:56:12 PM

^

8/9/2011 1:59:56 PM

Quote :

"Yes, the economic growth is stagnant to nonexistent but we are not going to fall in to a country of nomadic barbarians overnight because of it."

You realize that this is hyperbole, right? As in, you're accusing face of using hyperbole, but then you offer up nothing but exaggeration.

No one is saying things will go to shit overnight. Things can accelerate quickly, though, and that seems to be happening now. At this point, all it would take is the other ratings agencies jumping on the bandwagon and downgrading the U.S. I think it's likely that S & P will lower the U.S. rating even more.

Essentially, I've been saying that creditors will lose faith in the U.S. bonds. The usual response is that it'll never happen, bonds are good as gold, bonds will always be "flight to safety," etc. I think there's reason to believe that none of that is true. China and Russia have been seriously escalating the rhetoric about getting off the dollar. Now bonds are getting downgraded.

8/9/2011 2:06:55 PM