The sky is falling!!

[mrmarket]

It's ugly...there is no way around it. But....the most important thing to remember is...we have seen this before!

[Lucavia123]

Wow... look at those futures. The sky really is falling today.

[mrmarket]

Right after noon, 42.66. We may have a better opportunity if troubles persist overseas, flight to quality stuff. Art Cashin, the CNBC guru, mentioned something about Saudi Arabia possibly heading for financial problems. He said they are "going thru reserves like crazy" and recently floated some bonds to raise cash. Who would have thunk they could get into trouble and I wonder what it would mean.

They kind of missed the boat on their fear of losing market share to the US shale production. At the end of the day, their Minister of Finance should have revisited his economics ==> Revenue = price x volume. It's not Revenue = Volume. Dummy.

[mrmarket]

Wow...this is getting out of hand. LOL

[riverbabe]

The sand is a great place to bury one's head. The only green on my screen is SPXU, an ultra-short of S&P 500 I bot yesterday, up 5.69%. Wish I had thousands of shares instead of a couple hundred. It's bloody out there.

[Lucavia123]

Futures are pointing to another tumble. Guess I'm doing ok thus far losing about 1% in my portfolio this week thus far. Still very painful to see the raw $ amount.

[Louetta]

If you bot today, you are about 11% ahead of me at 47.76.

Right after noon, 42.66. We may have a better opportunity if troubles persist overseas, flight to quality stuff. Art Cashin, the CNBC guru, mentioned something about Saudi Arabia possibly heading for financial problems. He said they are "going thru reserves like crazy" and recently floated some bonds to raise cash. Who would have thunk they could get into trouble and I wonder what it would mean.

[riverbabe]

I'm going to join you in a 1/2 position. I think rates might tick lower due to these obscure currency devaluations but CNBC just released a poll of heavy hitters 2/3 of whom think the Fed will raise in September. If they do I'd fear the interest rate train will pull out of the station never to return.

If you bot today, you are about 11% ahead of me at 47.76.

[Lucavia123]

Now that was an amazing fall. What's your opinion of today's action?

[Louetta]

...snip...

Louetta, I also am short bonds via a bear ETF (TBT).

I'm going to join you in a 1/2 position. I think rates might tick lower due to these obscure currency devaluations but CNBC just released a poll of heavy hitters 2/3 of whom think the Fed will raise in September. If they do I'd fear the interest rate train will pull out of the station never to return.

[Lucavia123]

Very true. It wouldn't bother me but I inherited some mutual funds that are getting killed in this environment and I need to decide if I should hold on or sell them off. I might actually need these funds in about 12 months.

[jiesen]

Well, we can't say Louetta didn't warn us. At least LBMH is bucking the trend. Old folks still gonna need their catheters at any rate.

[Lucavia123]

Down...down...down...

I'm having a hard time remembering what an up day in the market looks like.

[mrmarket]

Everything is on sale now.

[seabric1]

Down 5 days in a row. 10 - 15% drop in stock price for many big name companies reporting earnings. Weakness seems to be the thing. I hate to bring it up but maybe we should revisit this thread...

Is the sky falling?

http://i.imgur.com/7drHiqr.gifv

i have no idea, but it sure feels like the beginning of a correction. all my stocks are down... even APPL's down.