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News Stocks: Monday Closing

  1. Aug 23, 2015 #1

    Bystander

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    Ten hours to opening bell, and Bloomberg's "DJIA Futures" are down a solid 400; could be an "interesting" day on Wall Street.
     
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  3. Aug 23, 2015 #2

    Astronuc

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  4. Aug 23, 2015 #3

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    ... or, the program traders are setting up to gut short-sellers. VIX is way up ---- going to be worth watching either way.
     
  5. Aug 24, 2015 #4

    Astronuc

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    So, an interesting beginning.
    http://finance.yahoo.com/news/u-s--...-traders-race-into-safe-havens-121002330.html

    So far, today range of the DOW Industrials - 15,370.33 - 16,459.75. The DOW opened at 16,459.75.

    Dow Plummets Amid Global Sell-Off, Falls Whopping 1,000 Points After Opening Bell
    https://gma.yahoo.com/dow-falls-whopping-1-000-points-opening-bell-141933392--abc-news-personal-finance.html [Broken]
     
    Last edited by a moderator: May 7, 2017
  6. Aug 24, 2015 #5
    Wish I had money to fund my IRA today. This is an opportunity.
     
  7. Aug 24, 2015 #6

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    I don't think sharks would get in the water with brokers today. The first round of "program shorts" this morning was vicious --- looked like Jeremy Wade's tiger fish.

    Edit: Add, 1130 EDT, second round of shorting.
    2nd Edit: 1230 EDT, looks like people are covering last Th, Fri shorts.
     
    Last edited: Aug 24, 2015
  8. Aug 24, 2015 #7

    russ_watters

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    Not that I have a ton, but I just emptied my checking account into the S&P (minus a little I need until next week's payday).
     
  9. Aug 24, 2015 #8
    Nice! I've now lived long enough not to be scared of these corrections, but to welcome them, that is if I have the money, lol. AMZN is looking real tasty.
     
  10. Aug 24, 2015 #9

    russ_watters

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    Yeah, that's a good point. Bad press for a generally good company tends to be a buying opportunity. And in general, going against the heard tends to be a good thing.
     
  11. Aug 24, 2015 #10

    Astronuc

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    Really?!
    EPS = -$0.41
    Dividend = N/A, Yield = N/A
    Day's Range: 451.00 - 489.76
    52wk Range: 284.00 - 580.57

    1y Target Est: 650.00 ! Why?!


    Monday's closing:
    S&P500: 1893.21, -77.68
    DowInd(30): 15,871.35, -588.40
    NASDAQ: 4526.25, -179.79

    Oil prices steady but near recent lows as Asian stocks resume slide
    http://finance.yahoo.com/news/oil-prices-steady-near-recent-013315599.html

    Australia's All Ordinaries (^AORD, or ASX) seems to be on the rebound.

    I would have liked to have grabbed GE at $20.00 per share this morning. BHP looks interesting if they can maintain their dividend.
     
    Last edited: Aug 24, 2015
  12. Aug 24, 2015 #11

    phinds

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    I've never seen anything like the first 15 minutes of trading this morning. HUGE drop in a ton of exchange traded funds and then an almost immediate huge recovery of most of the losses for most of them. GOT to be programmed dumping and then programmed taking advantage of the ridiculously low prices. When I first looked at the charts today I kept thinking at first that my broker had gotten some serious data mistakes but it was real.
     
  13. Aug 24, 2015 #12

    phinds

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    Smart move. I too put some money into the S&P, but in a leveraged way (XIV, a complicated inverse volatility ETF that dropped like a stone this morning but is coming back nicely.)

    The Chinese stock market, unlike the American one, bore little if any relationship to the underlying economy and the bursting of its bubble likewise does not reflect its underlying economy, although that burst is hurting their burgeoning middle class and will have a run-on effect.

    The American economy is actually doing pretty well and this panic selling SHOULD reverse itself nicely over the coming weeks and months. There is, of course, always a chance that this "irrational exuberance" in reverse could continue for a while and not turn around as quickly as I expect but that seems unlikely to the extent that I'm willing to make a modest bet on it, particularly since I'm quite willing to wait it out if it does take longer.
     
    Last edited: Aug 24, 2015
  14. Aug 24, 2015 #13

    Vanadium 50

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    I am curious as to why you feel this sense of urgency - i.e. why you think that today is the day to buy and not tomorrow or some time next week.
     
  15. Aug 24, 2015 #14
    Not speaking so much for the day as for the event
     
  16. Aug 24, 2015 #15

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    "... moderation in all things ...." or however the saying goes. All my "cues" have been tied to commodities, and those have made no sense to me for the last 15 years --- keep wanting to "adjust" positions, and just have to sit still and ride.
     
  17. Aug 24, 2015 #16

    russ_watters

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    Or Friday? The market was down 6% last week and I was thinking about it then. But the particular urgency today was based on similar perceptions to what others mentioned:

    1. The instant drop of 1000 points, then gaining most back, with massive trading, looked like a software-induced crash/recovery. IE, much of what happened isn't real. Though, fake panics can cause real ones:
    2. There is some panic in the air due to China's crash and interest rates being on the move, but...
    3. The US economy looks fundamentally strong.

    To sum-up: the urgency today was that I didn't want to miss-out on the panic!
     
  18. Aug 24, 2015 #17

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    "Hedge fund that called sell-off closes short position;" Bloomberg --- or words to that effect.
     
  19. Aug 25, 2015 #18
    Today futures rise 4% so yesterday's lows would have been a great buy.
     
  20. Aug 25, 2015 #19

    Astronuc

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    DJIA futures 16,291.00 Up 582.00(3.70%) 9:14AM EDT

    DJIA 16,195.18 Up 323.83 (2.04%) 9:32AM EDT and was up about 350 points two minutes later.
     
  21. Aug 25, 2015 #20

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    Off 200 for Tue. close; up all day, and off 200 --- o0):confused:o_O:oldconfused:.
     
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