The S&P, Dow, and NASDAQ are all down 3 - 4% right now and the threads on the front of a forum targeted to CFA candidates are about newspapers “dissin” Obama, MBA programs, and weight loss software. The extreme volatility over the last few months has had a dramatic numbing effect, to the point where a 3% swing is business as usual. Our markets are behaving like we’re in a third world country and it is troubling me.
I’m just making an observation, I’m not judging the merits of the aforementioned threads.
It really has. Look how the markets have behaved since September. Nothing is a surprise anymore it seems.
I’m home sick and was semi-asleep listening to Geithner and heard that the Dow was off 150 since he began his speech… at that point I grabbed the remote and turned it down a bit as I rolled over and put the blanket over my head.
johnthainslimodriver is the reason for all this mess..
Bankin’ Wrote:
——————————————————-
> The S&P, Dow, and NASDAQ are all down 3 - 4% right
> now and the threads on the front of a forum
> targeted to CFA candidates are about newspapers
> “dissin” Obama, MBA programs, and weight loss
> software. The extreme volatility over the last
> few months has had a dramatic numbing effect, to
> the point where a 3% swing is business as usual.
> Our markets are behaving like we’re in a third
> world country and it is troubling me.
>
I was thinking the same thing.
I just put 25% of my trading account in FXI puts last week (see other thread). Feeling pretty good about that one. The SSEC was up 18% on the year as of Friday, kind of insane when they’re on the brink of a populist uprising.
Could be a sign of a bottom, no? Apathy
BosyBillups Wrote:
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> Could be a sign of a bottom, no? Apathy
Who is John Galt?
Could also be many CFA’ers have lost faith, their jobs, interest in the markets as a whole. Let’s face it, to many (and the public at large), Wall Street has lost some of her “sex appeal.”
I was thinking that all this talk around bailouts and rescue plans is just hogwash. If you step back and look at it, it seems like too many cooks are trying to save a broth which is already burnt. they would keep offering their remedies and in the end they would lift the lid only to find out that the broth was long gone.
I do not think we are coming back from this just by building bridges and roads. We will hit many temporary bottoms but until we do start producing again - producing real goods and services that add value to human life - we will not come back from this.
There are only two tragedies in life: one is not getting what one wants, and the other is getting it - Oscar Wilde
^ and with each bailout, comes more delay getting to that day.
Inevitably there willl be unintended consequences from all of the government’s actions. Anyone have any theories on where the next bubble or crisis will emerge? If we stimulate growth through easy credit again will that not just bring us back to where we are now in a few years?
I have been saying it all along….the market is nothing but a giant Ponzi scheme now. I will keep shorting every one of these fake rallys. They are just suckering more bagholders in until the final cataclysmic event. LISTEN to people like Roubini and Krugman, folks. Its all doom and gloom but very accurate.
louisvillegrad Wrote:
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> I have been saying it all along….the market is
> nothing but a giant Ponzi scheme now. I will keep
> shorting every one of these fake rallys. They are
> just suckering more bagholders in until the final
> cataclysmic event. LISTEN to people like Roubini
> and Krugman, folks. Its all doom and gloom but
> very accurate.
I think JoeyDVivre said it best when he said “if you think you can take him seriously, just look at what school he graduated from.”
it’s nothing but more selling…nervous shorts covering into upcoming stimulus package is what we saw last couple of days… this is a technical market right now b/c the fundamentals are such big question mark. look at the S&P 500 it couldn’t break it’s 878 temp high set back 1/28/09. we had lost the momemtum yesterday b/c we couldn’t close over that 878 mark, saw early selling in AM and the tech guys took over..we are seeing a lower high and will see lower lows… add to your shorts with any rally (ie from dow -400 to -250 is a rally today.) we will be retesting 750 on S&P’s this week. I am looking at VIX Feb call spread.. which may hit 70 again on S&P lows…
be short until the markets till you otherwise…. the BIG sign is a wash out sale in the morning and HUGE rally in late afternoon.. haven’t seen it yet.
-4.5% DOW, - 3% TSX mean nothing.
I don’t feel any emotion until we hit that -8% territory. I’m thinking today could be one of those days. Haven’t had one in a while. I almost miss the feeling of the world ending, you never feel so alive until you feel your stomach turn and your net assets drop 10+ million. mmmm, masochism.
ConvertArb Wrote:
——————————————————-
> it’s nothing but more selling…nervous shorts
> covering into upcoming stimulus package is what we
> saw last couple of days… this is a technical
> market right now b/c the fundamentals are such big
> question mark. look at the S&P 500 it couldn’t
> break it’s 878 temp high set back 1/28/09. we had
> lost the momemtum yesterday b/c we couldn’t close
> over that 878 mark, saw early selling in AM and
> the tech guys took over..we are seeing a lower
> high and will see lower lows… add to your
> shorts with any rally (ie from dow -400 to -250 is
> a rally today.) we will be retesting 750 on S&P’s
> this week. I am looking at VIX Feb call spread..
> which may hit 70 again on S&P lows…
>
> be short until the markets till you otherwise….
> the BIG sign is a wash out sale in the morning and
> HUGE rally in late afternoon.. haven’t seen it
> yet.
in small VIX Feb 50-60 call spread, $1.25 paid. I HOPE THE MARKETS PUKE!
S&P, Dow, and NASDAQ all down between 4 - 5% today. What a bloodbath.
I started working in the capital markets last June post-mba. If you take a chart of the S&P tsx composite, and plot my start date, the peak of the market was almost identical to my start date. It has been nothing but downhill depressing news since then. My perception of working in this industry is completely and totally distorted.
dow closed at 7,888.88, is it supposed to be a show?
short is the new long
Next? Probably a bubble in pseudo-risky assets.
You want a quote? Haven’t I written enough already???
thems Wrote:
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> short is the new long
Or… red is the new black.
next bubble is the bailout industry.
There are only two tragedies in life: one is not getting what one wants, and the other is getting it - Oscar Wilde
Also presumably a “short bubble.”. I wonder what the signs of shorting exhaustion would be. No shares available to short, perhaps?
You want a quote? Haven’t I written enough already???
It seems that everytime they announce a solution, the market tanks. Short on solutions.
Check out this cat… I wish I could be so enthusiastic/optimistic. This guy rules.
I have become comfortably numb.
http://www.youtube.com/watch?v=PjiKPWzN878
JustPass Wrote:
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> Check out this cat… I wish I could be so
> enthusiastic/optimistic. This guy rules.
>
> I have become comfortably numb.
>
> http://www.youtube.com/watch?v=PjiKPWzN878
That was a bit. It had to be a bit. It was probably some sort of prank he thought of while getting high.
ConvertArb Wrote:
——————————————————-
> ConvertArb Wrote:
> ————————————————–
> —–
> > it’s nothing but more selling…nervous shorts
> > covering into upcoming stimulus package is what
> we
> > saw last couple of days… this is a technical
> > market right now b/c the fundamentals are such
> big
> > question mark. look at the S&P 500 it couldn’t
> > break it’s 878 temp high set back 1/28/09. we
> had
> > lost the momemtum yesterday b/c we couldn’t
> close
> > over that 878 mark, saw early selling in AM and
> > the tech guys took over..we are seeing a lower
> > high and will see lower lows… add to your
> > shorts with any rally (ie from dow -400 to -250
> is
> > a rally today.) we will be retesting 750 on
> S&P’s
> > this week. I am looking at VIX Feb call
> spread..
> > which may hit 70 again on S&P lows…
> >
> > be short until the markets till you
> otherwise….
> > the BIG sign is a wash out sale in the morning
> and
> > HUGE rally in late afternoon.. haven’t seen it
> > yet.
>
>
>
> in small VIX Feb 50-60 call spread, $1.25 paid. I
> HOPE THE MARKETS PUKE!
good news, CS reported a 6.02 billion Swiss-franc ($5.2
billion) 4Qloss on wrong-way trading bets and costs
tied to cutting jobs and selling part of its fund unit.
Analysts surveyed by Bloomberg had estimated a
deficit of 4.2 billion francs for the quarter.
Bankin’ Wrote:
——————————————————-
> The S&P, Dow, and NASDAQ are all down 3 - 4% right
> now and the threads on the front of a forum
> targeted to CFA candidates are about newspapers
> “dissin” Obama, MBA programs, and weight loss
> software. The extreme volatility over the last
> few months has had a dramatic numbing effect, to
> the point where a 3% swing is business as usual.
> Our markets are behaving like we’re in a third
> world country and it is troubling me.
>
> I’m just making an observation, I’m not judging
> the merits of the aforementioned threads.
+1
I get your point. AF has been a little blah lately. However, the fact that some threads started a few days ago are still being talked about is not the same as the market being down 3% and a bunch of new threads being started on weight loss software, etc..
You want a quote? Haven’t I written enough already???