Official Stock Market & Economy Thread

[mrmundaynite]

When I left for class, I was up about $220 in SRS, when I came back two hours later, I'm down about $60. An almost $300 swing in two hours? What happened?

 

[lazyj10]

Shorting Macy's?

My gf works there and they're a *!$ company. They're looking to restructure, yet again.

http://money.cnn.com/2009...tm?postversion=2009011415

 

[finnns2003]

and just as i posted that, JPM is in the red. hilarious

 

[dey know yayo]

finnns2003- naw jpm's not a good buy imo
mrmundaynite- spy 82 bounce, temporary, well sell back off next week
lazyj10- theres better shorts out there than M

this bounce is perfect, prolly gonna rally into tues/wed. lets us load up on gs, spg, aapl, cf puts and srs, faz equity and calls.

 

[finnns2003]

Originally Posted by Dey Know Yayo

finnns2003- naw jpm's not a good buy imo
mrmundaynite- spy 82 bounce, temporary, well sell back off next week
lazyj10- theres better shorts out there than M

this bounce is perfect, prolly gonna rally into tues/wed. lets us load up on gs, spg, aapl, cf puts and srs, faz equity and calls.

ah, got it. i'm guessing you heard about jobs having his pancreas removed. aapl is going to plummet.

 

[lazyj10]

Originally Posted by Dey Know Yayo

finnns2003- naw jpm's not a good buy imo
mrmundaynite- spy 82 bounce, temporary, well sell back off next week
lazyj10- theres better shorts out there than M

this bounce is perfect, prolly gonna rally into tues/wed. lets us load up on gs, spg, aapl, cf puts and srs, faz equity and calls.

I know but my gf works there and I hate them.

 

[nicefro]

DKY, can you clarify. Are you saying that SKF/SRS are gonna go back up to their morning highs or that they are gonna continue falling. I took my $5 trailingstop off of SKF last night like an idiot.

 

[nicefro]

I'm pissed off I took those stops off. Damn you JPM.

 

[mrmundaynite]

DKY

What is a good chart program for real time charts (like the ones you use in your blog)? I'm using rightline's charts right now.

And also, I feel like a clueless kid, but what exactly is a "spy 82 bounce"?

 

[superantigen]

This whole thing is crazy...

Before, I looked forward to market rallies and hoped for good news...

Now that I have positions in these inverse funds, I hate market rallying good news and love when the market is tanking...

 

[nicefro]

Same bro, when I hear, "the DOW was down 200 points today" and hear all the teachers groaning and stuff I express

but am really

, bleed you obsolete POS companies. BLEED!!!!!!!!!!!!!

 

[superantigen]

^^^^

My dude even threw in a few

for emphasis...

 

[nicefro]

Now what we're seeing here is more like it.

BLEED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[prmj23]

whats your stop loss on gs though? I was thinking about getting in but not for a short. was hoping for a small bounce by next week. took profits on jpm todayother then that nothing good for me

 

[nicefro]

Que occurio Dow?

 

[qpitfighter]

Is it worth shorting GS right now?

 

[prmj23]

I dont think its worth shorting gs right now unless u have a good amount of capital to cover that short. meaning why short it if u can only afford 10 shares?

 

[qpitfighter]

I have a ton of capital... I was just wondering if it was a good play.

 

[nicefro]

Interesting closing hour.

 

[wawaweewa]

The big movers decided to play some games today.
Prob. some technicals that triggered a bunch of pre configured orders off of an 8k bounce.
Oh and Obama's 850b spending proposal. Which really means 1.6T. This is certifiably insane.

Futures started picking up around 1:45 and then the surge came.

Test 85 on the S&P tomorrow and then break down again or overshoot that (and break hard next week; what I'm thinkin)?

 

[truth 15]

we havent had such an up and down day for a while. I don't understand how JPM went down so much compared to some of the other crappy financials, I stillwant all these financials to get destroyed so I can do work with FAZ and the rest of the ETFs

whats going to happen tomo?

and did you guys see pics of the plane in the Hudson, thats crazy

 

[xi shine xi]

what a great day for day traders

 

[finnns2003]

i'll say. next week will be really 'fun'

 

[dey know yayo]

market acted just as planned.. bounced at spy 82. we probably bounce til about 86 til tueday and restart the sell off on wednesday. by a week from monday weshould be nearing november lows again.

 

[wawaweewa]

[h1][/h1]

[h1]Depression ahead, prepare for stock rout-SocGen[/h1]

• Reuters, Thursday January 15 2009

LONDON, Jan 15 (Reuters) - Societe Generale said on Thursday that the United States' economy looks likely to enter a depression and China's could implode.

In a highly bearish note, veteran cross asset strategist Albert Edwards said investors should now cut equity exposure after a turn-of-the-year rally and prepare for a rout.

He predicted that the S&P 500 index of U.S. stocks could be set for a fall of nearly 70 percent from recent levels.

Edwards also raised the danger of a global trade war with China.

"While economic data in developed economies increasingly reflects depression rather than a deep recession, the real surprise in 2009 may lie elsewhere," Edwards wrote.

"It is becoming clear that the Chinese economy is imploding and this raises the possibility of regime change. To prevent this, the authorities would likely devalue the yuan. A subsequent trade war could see a re-run of the Great Depression."

Edwards has long been one of the most bearish analysts in London, first with Dresdner Kleinwort and then with SocGen.

But he called in October for clients to increase their exposure to equities, which he said were due a rebound.

"We believe that the market is (now) set to quickly slide sharply towards our 500 target for the S&P," he said.

The S&P 500 <.SPX> stock index is currently at 842, up about 14 percent since hitting a low in November.


As an aside, I can't even imagine the CNBC twits after todays market.