[stylinexpat]

Market is like sex. After all that pumping one has to unload.

[AngelinIsRich08]

I don't see how this market can pick back up... There's nothing to boost it except buyers entering the markets and surges in volume causing brief rallies.

[NYCGP]

It's really rather obvious....

Standard and Poors must be racist!

[M3Bahn]

Originally Posted by AngelinIsRich08

This president has always been about wanting to make history. Well all his new history he's making will cause him to lose his reelection. I'm sick and tired of his policies making me lose money and faith in this country.

Well what do you expect, didn't he keep pretty much all of bushes ace economic team in place?

[mact3333]

As noted wks ago...1250 had to hold..it didnt...hmm...we will get the obligatory sharp rally back to broken trendline to suck in the suckers once again then we sell off once again...50 crossing the 200 is inevitable now.

[M3Bahn]

Here Comes TARP 2: Bank Of America Implodes, At $6.87, BAC CDS Up 20% To 260 bps As Bankruptcy Contemplated

With Bank of America investors finally realizing it is game over for the company as a going concern, at this point there are just two options for Brian Moynihan: the spin off of CFC as a bad bank, backstopped by the Fed, or, well, Chapter 11, which for a bank is essentially liquidation (and with CDS trading up 50 bps to 260 a bankruptcy seems increasingly inevitable). It also means that another TARP is on the way. And once America realizes that another several trillion have to be put into its insolvent banking sector, it will get quite violent. The biggest irony: it is AIG which takes down the financial system for the second time after its lawsuit against BAC filed last night kills Bank of America.

http://www.zerohedge.com/news/here-c...y-contemplated

[NYCGP]

What a bloodbath...

[achien]

there was a financial columnist (technical analyst) that said there should be support at DOW 10,800 and S&P 1,100.

We are very close to both now.

Originally Posted by mact3333

As noted wks ago...1250 had to hold..it didnt...hmm...we will get the obligatory sharp rally back to broken trendline to suck in the suckers once again then we sell off once again...50 crossing the 200 is inevitable now.

[nnnnnnnnnnnnnnnnnnnnnn]

Originally Posted by AngelinIsRich08

I don't see how this market can pick back up... There's nothing to boost it except buyers entering the markets and surges in volume causing brief rallies.

i swear you keep quoting from investing for dummies. Stop saying the basic mechanics of trades like they mean something more...

[wren57]

Originally Posted by achien

there was a financial columnist (technical analyst) that said there should be support at DOW 10,800 and S&P 1,100.

We are very close to both now.

There's an analyst out there predicting support every 10 points it seems. So far they're all wrong. Technicals don't mean shit when fundamentals collapse.

[Chowbow]

My dad got lucky and gambled on some of this last week: http://www.google.com/finance?client=ob&q=NYSE:FAZ

[wren57]

I'm confused about oil prices. Do people really think oil won't bounce back to 90+/barrel? All it takes is a few pissed off people in the middle east, an OPEC meeting, QE3, etc to send it much higher.

[Dr. G]

Originally Posted by Chowbow

My dad got lucky and gambled on some of this last week: http://www.google.com/finance?client=ob&q=NYSE:FAZ

If you look over at older threads I've always been an FAZ lover.

Stopped trading it for a couple months, but whenever things start going bad... FAZ has been my goto and it has treated me VERY VERY well.


Learned about it on another forum a while ago actually.

[Chowbow]

Yeah, it's a bit much for me at 3x inverse, but he typically just stays on the side lines and pulls a sniper move like that when there's an undoubted shit storm that comes.

[AngelinIsRich08]

Wow, what a rapage. Wonder what tomorrow will bring.... I'm not buying SPXU and SRTY though. I don't care anymore and I bought too much apple which caused me to run out of spending money. Apple has a future though and at $353 it's a steal. I want markets to go back up now!!!

[johnnymu]

QE3 might be announce tomorrow, if so market will be up.

[AngelinIsRich08]

Originally Posted by johnnymu

QE3 might be announce tomorrow, if so market will be up.

I hope. SLV will rise and hopefully enough so I can sell it for a profit. It would definitely free up some spending cash though.

[stylinexpat]

This is a controlled crash taking place now.

[mact3333]

Originally Posted by Dr. G

If you look over at older threads I've always been an FAZ lover.

Stopped trading it for a couple months, but whenever things start going bad... FAZ has been my goto and it has treated me VERY VERY well.


Learned about it on another forum a while ago actually.

Yeah, I am sure you have done well trading long FAZ over the past 3 yrs or so....down over 98% over past 2.5 yrs...you dont understand triple leveraged ETF's very well...plot FAS(triple long financials) and FAZ(triple short financials)...they are both down huge over 3 yrs...hmmm, how can that be?......only way you make money there is if you short both of them at same time and wait yrs...

[Dr. G]

Originally Posted by mact3333

Yeah, I am sure you have done well trading long FAZ over the past 3 yrs or so....down over 98% over past 2.5 yrs...you dont understand triple leveraged ETF's very well...plot FAS(triple long financials) and FAZ(triple short financials)...they are both down huge over 3 yrs...hmmm, how can that be?......only way you make money is you short both of them at same time and wait yrs...

FAZ obviously isn't something you hold... pay closer attention to the charts and you will see where it has helped me out in rough times.

It definitely treated me well today although the other 99% of my portfolio has been slaughtered.

I have been picking up shares of FAZ for the past year during the obvious dips and so far it's near the top of my portfolio in terms of returns.

[wren57]

Gotta decide what to do with my ERX. Thank goodness my SPXU has balanced my portfolio to nearly zero gain/loss.

Any thoughts on oil? I don't see energy consumption decreasing the amount the market has dropped it off.

[stylinexpat]

Tomorrow should be very bloody as well. Major bloodbath taking place in Asia. South Korea breaker just kicked in.

http://www.bloomberg.com/markets/sto.../asia-pacific/