Dow plummets 500+ points, Nasdaq down over 5%

• Belly35

  

  Gold hit 1770/1780 at one point today so goes the DOW +
  Gold will have to remain at 1770 marker for the market to equal out
  
  Note: This is Belly Method/Theory Calulation .......for buying gold .... I have just reversed the math for the Stocks.
  I could be wrong and then again prefectly correct.
• Footwedge

  Ty Webb;856391 wrote:Dow ends up +429 on the day

  Hoo boy..... Gibby....this was a horrible, horrible day indeed for Oats, WB, JHay, Jmog, and the Coyotee. Not to mention MB and QCB. That communist in the White House is trying to ruin the economy....dintcha know? .....and then this happens. Tsk. tsk. tsk.
  
  The truth is...the president has virtually zero control on what the Wall Street speculators do.
• derek bomar

  

  Footwedge;856458 wrote:Hoo boy..... Gibby....this was a horrible, horrible day indeed for Oats, WB, JHay, Jmog, and the Coyotee. Not to mention MB and QCB. That communist in the White House is trying to ruin the economy....dintcha know? .....and then this happens. Tsk. tsk. tsk.
  
  The truth is...the president has virtually zero control on what the Wall Street speculators do.

  
  CONFIDENCE
• queencitybuckeye

  Footwedge;856458 wrote:Hoo boy..... Gibby....this was a horrible, horrible day indeed for Oats, WB, JHay, Jmog, and the Coyotee. Not to mention MB and QCB. That communist in the White House is trying to ruin the economy....dintcha know? .....and then this happens. Tsk. tsk. tsk.
  
  The truth is...the president has virtually zero control on what the Wall Street speculators do.

  
  I had a great day, thanks. Hell, I made more today than you make in a year.
• dwccrew

  

  Ty Webb;856391 wrote:Dow ends up +429 on the day

  After it lost 1100+ points in the last few weeks. This is a good rebound, hopefully it continues.
  

  queencitybuckeye;856470 wrote:I had a great day, thanks. Hell, I made more today than you make in a year.

  
  How do you know what he makes in a year?
• believer

  

  Footwedge;856458 wrote:The truth is...the president has virtually zero control on what the Wall Street speculators do.

  Not so. The President of the United States can indeed influence the markets by policy decision (IE: Obamakare and $800 billion in porkulus spending for example) and simply by inspiring confidence in the American consumer.
  
  BHO does not seem to know how to inspire except when he's in campaign mode....you know, Hope & Change and other nonsense.
• cruiser_96

  

  believer;856519 wrote:...
  
  BHO does not seem to know how to inspire except when he's in campaign mode....you know, Hope & Change and other nonsense.

  Wow! I'm sold. Where do I sign up!? That was awesome!!!
• Writerbuckeye

  

  derek bomar;856461 wrote:CONFIDENCE

  
  This.
  
  And why in the world would I wish for the markets to be down? What a stupid, ridiculous and wrong thing to say wedge-head. I'm a guy with a 401 like a good portion of America. Do you really think I want to lose money just to make a president look bad -- especially when said president can do that all on his own without hurting that many people?
  
  Of course not.
  
  Good Lord. You think some of us are partisan hacks, and you post crap like that...
• Manhattan Buckeye

  Footwedge;856458 wrote:Hoo boy..... Gibby....this was a horrible, horrible day indeed for Oats, WB, JHay, Jmog, and the Coyotee. Not to mention MB and QCB. That communist in the White House is trying to ruin the economy....dintcha know? .....and then this happens. Tsk. tsk. tsk.
  
  The truth is...the president has virtually zero control on what the Wall Street speculators do.

  
  It was an ok day, I've still lost more in the last couple of years than will likely make back in the next five. Our house has lost so much value that it doesn't even matter anymore. We can't sell it. Banks won't loan on it. We could drop it down to $300,000 and still not get offers, how stupid do you think anyone is that enjoys this economy, and how stupid are you that thinks that a good day on the DJIA makes up for catastrophic home losses and unacceptable unemployment.
  
  It wasn't a horrible day, but it is still a horrible era.
• Footwedge

  believer;856519 wrote:Not so. The President of the United States can indeed influence the markets by policy decision (IE: Obamakare and $800 billion in porkulus spending for example) and simply by inspiring confidence in the American consumer.
  
  BHO does not seem to know how to inspire except when he's in campaign mode....you know, Hope & Change and other nonsense.

  I disagree. All presidents can do is have a major influence regarding fiscal and monetary policy. That's about it. If you think ObamaKare would change the way the health care industry would operate, then you are sorely mistaken. Let me cite another example. Under the last Bush, the marginal tax rates were the lowest since 1917...or whenever the first year they were instituted. He drove the national debt from 5.9 to 10.3 trillion....thus artificially inflating the GDP. Yet...even with all that "pro business" agenda, the stock market crashed 21% over his 8 year reign of terror. And that was just the DOW. NASDAQ dropped an incredible 35%. Was Bush deliberately ruining the economy too?
  
  Explain.
• Footwedge

  queencitybuckeye;856470 wrote:I had a great day, thanks. Hell, I made more today than you make in a year.

  Yeah...and my dad could beat up your dad. For being the self proclaimed richest guy around here, you sure have a lot of growing up to do son.
• Manhattan Buckeye

  Footwedge;856633 wrote:Yeah...and my dad could beat up your dad. For being the self proclaimed richest guy around here, you sure have a lot of growing up to do son.

  
  Some things you can prove....I'm positive my IP address can be traced from here, and I don't live in craptown, podunk, USA zipcode 00000, and the folks running the site can confirm that.
  
  QCB has posted enough that I would vouch for his credibility, or else he's the best liar on the planet.
• Footwedge

  Manhattan Buckeye;856652 wrote:Some things you can prove....I'm positive my IP address can be traced from here, and I don't live in craptown, podunk, USA zipcode 00000, and the folks running the site can confirm that.
  
  QCB has posted enough that I would vouch for his credibility, or else he's the best liar on the planet.

  Is there a point somewhere here that I've missed?
• LJ

  

  Ty Webb;856391 wrote:Dow ends up +429 on the day

  
  If it falls from high enough, even a dead cat will bounce
• Manhattan Buckeye

  Footwedge;856689 wrote:Is there a point somewhere here that I've missed?

  
  That instead of being prissy and calling out people you should read and listen.
  
  If you got in at the beginning of the rally you enjoyed the rally (I was asleep at the time), if you held a long position chances are you had a good day as well. But the underlying reason is bad news. The Fed is pretty much admitting that our economy is going to stink for the next few years.
  
  We are in unprecedented territory with these rates.
• QuakerOats

  FW -- keep blaming Bush, but don't forget to blame the Tea Party etc.. etc... You need to read Bret Stephens piece in the Wall St today --- obama is simply stupid, but I am not at all surprised because all he ever was was a socialist community activist/agitator - period! Obama's abilities during the debt negotiations and his response to the aftermath says it all; he is a pathetic leader. His saving grace today was the fed saying they would keep rates low for 2 more years all the while loading the US balance sheet up with total garbage --- it will kill us in the end.
  
  Reagan inherited economic problems and solved them; obama can only blame others. He should resign today.
• Footwedge

  Manhattan Buckeye;856698 wrote:That instead of being prissy and calling out people you should read and listen.
  
  If you got in at the beginning of the rally you enjoyed the rally (I was asleep at the time), if you held a long position chances are you had a good day as well. But the underlying reason is bad news. The Fed is pretty much admitting that our economy is going to stink for the next few years.
  
  We are in unprecedented territory with these rates.

  Yaeh I know....my 14 x 70 single wide was downgraded. Only worth $6800 now. The good news is that I only have 23 more years to go on my mortgage.
• QuakerOats

  Footwedge;856727 wrote:Yaeh I know....my 14 x 70 single wide was downgraded. Only worth $6800 now. The good news is that I only have 23 more years to go on my mortgage.

  
  Call DC and get some of that obama money .... won't cost you anything.
• QuakerOats

  Ty Webb;856391 wrote:Dow ends up +429 on the day

  
  
  Today's early spanking (again) is the result of the subtle message from the Fed yesterday --- this economy stinks and it looks like it will stink for at least 2 more years - no thanks to the failed policies and lack of leadership from obama.
  
  The question now is, can we survive 16 more months of the obama assault on the economy?
• Belly35

  

  Gold hit for the second day $1774.00 plus .. if my (Belly Method/Theory Calulation) the stocks DOW should level out by close and show a slight gain or not as high lose.
  
  My problem is do I have to re calulate the Gold pricing ($1770/1790) up more to find that leveling plain of the stock market. I have stated that a gold pricing of $1770 plus is where gold pricing has to stay for a few weeks for the stock to equal out to stop the high range of loses and gains
• gut

  Goldman, I think, just called gold at $2400 by year-end.
• queencitybuckeye

  Footwedge;856633 wrote:Yeah...and my dad could beat up your dad. For being the self proclaimed richest guy around here, you sure have a lot of growing up to do son.

  
  I'll fully admit I should be the better person and not react in this manner at what, by your standards, are minor untruths, such as the implication that I'm one of the set calling people socialists and communists, when a simple search will show that this is the first post of mine in which those words have ever appeared. I'll not even bother to challenge you to find where I "self proclaimed" myself as the richest guy around here. I'm quite sure that 1) I've done nothing of the kind and 2) it's not the case.
  
  What I should have done instead is point out that in the very short term, the president can and did make a sizable impact in the markets. In the short term, the applicable subject matter is far more psychology than economics. When a sitting president makes an idiotic speech about the stock market, the players are going to make predictable, albeit short lasting decisions about the state of the nation, the economy and the market. Over the longer term, rational thought will regain control (not that the facts are anything encouraging).
• queencitybuckeye

  gut;857247 wrote:Goldman, I think, just called gold at $2400 by year-end.

  
  I miss "Ace of Cakes".
• Cleveland Buck

  

  gut;857247 wrote:Goldman, I think, just called gold at $2400 by year-end.

  
  Many people saw this coming. In October 2008 I called gold at $2,000 during Obama's first term.
• QuakerOats

  Ty Webb;856391 wrote:Dow ends up +429 on the day

  
  MINUS 520.
  
  Fabulous, another half-trillion dollars sucked away from the haves; I guess they'll be hip-hop in the East Room tonight.