Is the stock market going to tank?

[Downbound Train]

GOLD

+$44 to $1695

Futures bouncing. May not be as ugly as many feared. Long way to go to close on Monday though.

[4matic]

Tea party economics better have a basis in reality and quick!.

That's not what S&P says.

Trickle down-hillbilly-voodoo doesn't work and won't work. A revenue component is required.

[Moeghoul]

Here's a potential moneymaker, the 3.0 version

[DasBlunt]

sweet tie man!

[retirwntm]

shit is getting real, yo. the computers are killing eachother. BAC down 20% today. bloodsport.

[schuss]

That's not what S&P says.

Trickle down-hillbilly-voodoo doesn't work and won't work. A revenue component is required.

That's why they're downgrading a ton of insurers today too? It's like they've all got short positions or something.

[4matic]

That's why they're downgrading a ton of insurers today too? It's like they've all got short positions or something.

Sort of. Insurance companies by nature are required to hold Treasury and therefore get downgraded. Derivatives ARE insurance and this kind of volatility to standard deviations can make derivitive risk that much greater.

[schuss]

Sort of. Insurance companies by nature are required to hold Treasury and therefore get downgraded. Derivatives ARE insurance and this kind of volatility to standard deviations can make derivitive risk that much greater.

Oh, that's absolutely true, but given that S&P apparently can't even do math correctly, I'm doubting some of their work here. While I agree the government as a whole needs better spending and revenue plans, I don't think it warrants fucking the market for fun.

[LeeLau]

shit is getting real, yo. the computers are killing eachother. BAC down 20% today. bloodsport.

It looks good on them. Must be the damn shortsellers - all their fault

[Moeghoul]

Benny and the Feds are gonna have a long 48 hours ahead of them. Muni downgrades are in the works......

[Tuckerman]

ok make it stop now please.

[LeeLau]

More buying opportunities!!!!! Lots of !!!!!! means the opportunities are great!!!!!!!!!!!!!

[retirwntm]

i have to admit that i love days like this. the smell of fear must turn me on a little. perhaps that was an over-share.

lee, you hate BAC, huh? they are a bunch of fuckers, i'll give you that. i'll concede as well, the sum of the parts of BAC has not come to fruition. i knew countrywide would be a drag on earnings, but i'm surprised a bit that MER hasn't unlocked more value. then again, they seemed to learn nothing from the complete value destruction that has been C, and went down the exact same path...

did the S&P really close down 6.66%? YESSSSS!!!!!

[LeeLau]

mtnwriter my leading yoga pants indicator long is actually doing quite well - I am now up only 382% as opposed to 464% - c'est la vie. Web cams do not show enough perfectly coiffed metrosexual recent MBA grads jumping from window ledges so I am waiting and waiting. Perhaps I will wait too long (I've missed participating in the past couple of dead cat bounces in the post Lehman maggot-ridden corpse era so that's a full confession); but I sleep very well at night so there is compensation.

I hate BAC only as much as I hate arrogance that mistakes blind luck for skill. Equity markets were nicely correlated today. Almost every sector simultaneously shat the bed.

[SkiCougar]

More buying opportunities!!!!! Lots of !!!!!! means the opportunities are great!!!!!!!!!!!!!

i agree, but only if youve been 75% out of stocks since may like i am; thank GOD !

although, i know the past 2 weeks have beat the hell out of a lot of people; it did the same to me in 2008. if no one saw the mkt's been propped up from the FED this year, its not my fault when reality comes knocking.

[huckbucket]

Equity markets were nicely correlated today. Almost every sector simultaneously shat the bed.

My precious gold. My preeessscccioouss ....

[retirwntm]

ahhhh - LULU! up 146% YTD despite the carnage. i do like the way their pants look on les femmes leaving the yoga studio. i wish i had been as focused on the stock as les femmes in their pants. ces't la vie, vraiment, nest ce pas?

birinyi noted AAPL was trading at 12X F P/E with something like $80/sh. in cash from my back of the napkin. don't wait too long for that one. though i'm not sure even steve has figured out yet how to reanimate yet, so...

the metro MBA's are actually working these days (if they have jobs) and don't have time to get up from their desks to go to the windows. that and the fact that by the hour, they are paid less than my high school aged niece makes at mcdonalds should help you sleep in good conscience. i know i do. the simple fact that i won't hear the phrase "sell side, bitches!" from a 22YO 120# intern at a bar in tribecca at 2am gives me peace

[LeeLau]

GOOG too at "reasonable" PEs. Lets step back to banal generalities though. Don't want to fall into the trap of reco's on a ski website. I've laid out some buy orders at OMGmyportfoliocommittedsuicide prices and will see if they hit. Ya never know

[grrrr]

Jeebus what a bloodbath. It almost makes me glad I'm flat broke to start with.

[4matic]

SPX futures just got spanked for 10 more points.

[Benny Profane]

Hedge funds liqidating?

[skier666]

S&P down....wait for it....

6.66%

[Downbound Train]

S&P down....wait for it....

6.66%

Time to start looking for Obama's birthmark.

[Moeghoul]

Benny and the feds on deck.........will they hint at launching 3.0?

[Benny Profane]

Yee haw!