Official Stock Market & Economy Thread

[nicefro]

 

[queencitysneakerqueen]

So since MSFT announced that it's going to be opening retail stores is now a good time to buy MSFT stocks?

 

[grand a]

lolz

 

[dey know yayo]

TBT is a good way to short treasuries. Buying gold and gold equities is another good way.

The market looks geared to move big one way or another on Geithner's speech. I'm guessing it will be a buy-side imabalance but we will have to see, wecould still break down to November lows. But as the market appears possibly poised to make new lows, the stocks I am mentioning are breaking out to new highs.

 

[supervi11ain]

 

[wawaweewa]

 

[wawaweewa]

Can't embed for some reason.
http://www.youtube.com/watch?v=YFyEBr7kuLs



Barney Frank will be one of the main actors running these POS's.

$!%!?

We'reDone.

I rather see Wall St. thieves run the banks as they have been than see that borderline demented corrupt stooge involved in banking operations.
This iswhat we've come to.
The US is going into the toilet. One can only

.

 

[dey know yayo]

considering the fed is monetizing treasury purchases, shorting treasuries probably won't be trade of the year--- gold will.

on second look, gold is extended here and no longer a buy, too far away from 50dma. i expect a retracement from next week to early to mid march and then i willbuy in big again. well see what happens, the charts will tell us.

overall market seems to be following bank stocks. if banks are bought on geithner's speech, market probably starts bouncing, otherwise it honestly could godown back to novermber lows. i think oil is the play right now and like i said in a few weeks precious metals again. gold is a hold right now, not a buy, butalso not a sell. a hold.

 

[kix4kix]

Wells Fargo Killed me, any chances it will clime back?

 

[reigndrop]

Where's B2P? That Reinhardt guy did him real good huh? You throw enough darts at a board, you're bound to land one.

 

[nycballer]

Originally Posted by Dey Know Yayo

considering the fed is monetizing treasury purchases, shorting treasuries probably won't be trade of the year--- gold will.

on second look, gold is extended here and no longer a buy, too far away from 50dma. i expect a retracement from next week to early to mid march and then i will buy in big again. well see what happens, the charts will tell us.

overall market seems to be following bank stocks. if banks are bought on geithner's speech, market probably starts bouncing, otherwise it honestly could go down back to novermber lows. i think oil is the play right now and like i said in a few weeks precious metals again. gold is a hold right now, not a buy, but also not a sell. a hold.

Are you referring to the actual bullion or the gold stocks? I've been watching RGLD over the past couple weeks and am in some equity.What's your opinion on it given it is right at its 50DMA.

 

[wawaweewa]

8:17 CT

Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.

It originated at approximately 7:15 CT this evening and originated out of Asia somewhere. All of the primary currency crosses got hit at once - Euro, Pound, Yen - all weakened dramatically against the dollar and it is still going on. The Asian stock markets got walloped at the same time in coordinated waves of forced selling.

At the same time the US futures markets got nailed as well, down some six handles on the /ES in a near-vertical drop. While this sounds "not that big" to move these markets in a coordinated fashion like this is a trillion-dollar enterprise - this is not some small company that went bankrupt, or even a large company.

There is no news coverage at the present time identifying the source of this but it is not small and contrary to some reports it is not "automatic selling"; this is forced liquidation.

Folks, if this translates into Eastern Europe where there are severe instabilities already brewing literally everything in the financial world could come apart "all at once."



Link

Took a look at the charts and he's right.

Recent rumors of Russia defaulting? Coming to pass? Most Russian debt is held by Euro and Japanese banks.

Some speculating that Japan is playing the currency market.

Others say that it may have to do with Woori Bank in S. Korea.

I guess we should know by market open tomorrow.

 

[finnns2003]

goodness...

 

[shoedinidc]

DKY what is the best way to get into oil, what do u reccomend?

 

[nicefro]

wawa, i just read that on the google boards and then looked at prophet charts for gbp/usd and then all other major currencies. that is extremely out of theordinary.

is it safe to say we're near a bottom @ DOW 7200 or are we headed into complete freefall?

Down 28% on my FAS position.

 

[nicefro]

The euro also weakened against 14 of the 16 major currencies on speculation its recent declines triggered the execution of automatic sell orders. The yen dropped to a five- week low against the dollar after Japan's Finance Minister Shoichi Nakagawa said today he would resign after budget bills are passed in the nation's parliament.


Link: http://www.bloomberg.com/...2LsycfWo&refer=europe

 

[wawaweewa]

Originally Posted by nicefro

wawa, i just read that on the google boards and then looked at prophet charts for gbp/usd and then all other major currencies. that is extremely out of the ordinary.

is it safe to say we're near a bottom @ DOW 7200 or are we headed into complete freefall?

Down 28% on my FAS position.

I don't think we're near a bottom. If anything we have to test 7500 again and if we can't keep that then look for the next historicalsupport level. We prob need to test 7k and rebound to put in that real bottom for the short and medium term. 7k would be around 50% off of the heyday high near14300. I still think 6800 isn't out of the question.
Only question is will we crash this week or sometime in march (after a run up through Feb.).

 

[dey know yayo]

nycballer- rgld is a solid gold stock, i'd only sell if it broke below $40... it's in a sideways basing range between $40 and $50, another move up ingold prices should send it above $50 big.

wawaweewa- gold jumped up with the dollar. i think it's possible a bank is failing or a central bank is defaulting, but also possible that bernanke ismonetizing more treasury buying by offering foreign currencies as supply through the exchange stabilization fund, like he did in july to catalyze the collapseof the commodity market.

 

[nicefro]

Originally Posted by wawaweewa

Only question is will we crash this week or sometime in march (after a run up through Feb.).

With the Walmart earnings, Obama's signing of the bill (although that's old news probably already priced in) coming this week we'llsee, tomorrow should be interesting. I'd say either a little rally back up to 8000/8100 or we break 7700.

 

[dey know yayo]

gold looks better and better with bad news, it's the flight to quality safe haven judging by investor sentiment.

 

[dey know yayo]

foreign currencies dowon 100-200 pips against teh dollar yet gold is up over $20... inflationary risk is now being priced into the markets as investors arerealizing the more bad news that comes about, the more every central bank will print to cover it. i really think the entire global fiat currency system faces acoordinated devaluation.

if the markets see buying on the big gap down today, we won't break down, atl east yet. if the markets sell off today, apart from my commodity plays, lookto betting against financials, insurers, and commercial real estaet. VNO is breaking down on HEAVY volume at its 50DMA.

 

[dey know yayo]

my call from when this thread was first started was that we would break down and double bottom at november lows, let's see if PPT can manage that or if webreak down further.

 

[crazy dav0]

srs and faz are up double digits (%) pre - market ... i wonder how far the market can go down ... the stimulus bill is expected to be signed today

 

[dey know yayo]

bruuuuutal plunge, 7500 here we come...

 

[nicefro]

burned on fas. not selling, if it goes any lower i won't be worrying about it.