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re: So another ho-hum day in the stock market....

Posted on 8/4/11 at 2:51 pm to
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 8/4/11 at 2:51 pm to
5-handle on the close? Its getting close!
Posted by TheDirty1
Member since May 2011
363 posts
Posted on 8/4/11 at 2:57 pm to
Last week you were talking about getting into the VIX, do you still have it or did you sell?
Posted by tmoney
Louisiana
Member since Aug 2008
1264 posts
Posted on 8/4/11 at 3:05 pm to
The carnge will continue tomorrow. Next week you ight see some rebound buying but this trend will last awhile.

Prob. drop another 200 on unemployment numbers.
This post was edited on 8/4/11 at 3:06 pm
Posted by LSURussian
Member since Feb 2005
133501 posts
Posted on 8/4/11 at 3:16 pm to
quote:

VIX at 27 - does that mean it's time to get in?

Over 33 at the close.

If Warren Buffett is correct and the time to be greedy is when others are fearful, it might be a good time to go "all in" because today scared the shite out of me.....
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 8/4/11 at 3:16 pm to
Are you just throwing a number out there? Market is expecting 75-100, so 200 would be a pretty huge miss given that its 100-125% higher than expected.
Posted by LSURussian
Member since Feb 2005
133501 posts
Posted on 8/4/11 at 3:18 pm to
quote:

Market is expecting 75-100, so 200 would be a pretty huge miss
Read his post again, kfizz.

"What we have heah, is a failuh to communicate!" - Cool Hand Luke
Posted by tmoney
Louisiana
Member since Aug 2008
1264 posts
Posted on 8/4/11 at 3:38 pm to
quote:

Market is expecting 75-100,


What was the "market " expecting today?

Dow will open lower on sales pressure that didn't get throug today then bounce back a little then finish with a controlled, non panic, slide. Remember "markets" are people.
Posted by TheDirty1
Member since May 2011
363 posts
Posted on 8/4/11 at 3:41 pm to
quote:

What was the "market" expecting today?


Yall are talking about two different things. He misread and thought you were talking about 200k new jobs and he was saying the market is expecting 75k new jobs. But you are talking about being down 200 points if bad numbers come out.
Posted by Chris Farley
Regulating
Member since Sep 2009
4201 posts
Posted on 8/4/11 at 3:42 pm to
quote:

If Warren Buffett is correct and the time to be greedy is when others are fearful, it might be a good time to go "all in" because today scared the shite out of me.....


I went "all in" when we were still down around 320. I am starting a new job on Monday where I will not be allowed to actively trade in a personal account, so it didn't leave me much of a choice. I have a bad feeling about what I did
This post was edited on 8/4/11 at 3:45 pm
Posted by LSURussian
Member since Feb 2005
133501 posts
Posted on 8/4/11 at 3:42 pm to
quote:

Market is expecting 75-100,



What was the "market " expecting today?

I think you two guys are referring to different numbers. kfizz thinks the "75-100" is the forecast increase in non-farm payrolls which will be announced Friday morning.

You think he's referring to the Dow Jones average.

At least that is what it looks like to me.

If I'm wrong, both of you can GFY.....
Posted by tmoney
Louisiana
Member since Aug 2008
1264 posts
Posted on 8/4/11 at 3:43 pm to
That explains it! Thanks for the clarification!

yes i was referring to the DOW.
This post was edited on 8/4/11 at 3:44 pm
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 8/4/11 at 3:49 pm to
Yeah I thought you were referring to the unemployment numbers. I see the market going somewheres between 800 down and 900 up tomorrow, not sure yet.
Posted by LSURussian
Member since Feb 2005
133501 posts
Posted on 8/4/11 at 3:55 pm to
quote:

I see the market going somewheres between 800 down and 900 up tomorrow, not sure yet.
Is there a fat or skinny "tail" on that prediction?
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 8/4/11 at 4:00 pm to
Nah I just want to cover my bases so I can come back tomorrow and show my prediction prowess.
Posted by LSURussian
Member since Feb 2005
133501 posts
Posted on 8/4/11 at 4:06 pm to
quote:

I just want to cover my bases so I can come back tomorrow and show my prediction prowess.



I know you don't follow the Poli Board so I'll tell you of a prediction "Rex" made today.

When the Dow Jones was down about 300 points this morning and people were naturally blaming Obama for it (go figure!), Rex chimed in and predicted the DJ would rally and close only
down 145 points today.

He's catching hell in that thread now for his forecasting ability.
Posted by Dr Rosenrosen
Member since May 2006
4026 posts
Posted on 8/4/11 at 4:20 pm to
Today was ugly times ugly.

Tomorrow will just be ugly.
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 8/4/11 at 4:23 pm to
quote:

Over 33 at the close.


It's important, though, to not be tricked by these VIX prints. The VIX is actually a sneaky complex number. It's not like at the money vol just spiked to 33. I mean, I'm sure it spiked some, but the more dominant effect is simply rolling down to a lower strike where the vol was already higher.
Posted by LSURussian
Member since Feb 2005
133501 posts
Posted on 8/4/11 at 4:27 pm to
I was off a bit on the "33" statement. It closed at 31.66 today, up 8.28 for the day.
Posted by kfizzle85
Member since Dec 2005
22022 posts
Posted on 8/4/11 at 4:36 pm to
I really see absolutely no reason why it would continue to fall tomorrow, especially at this clip, other than purely momentum. Even if the unemployment numbers come in terrible, people are pre-conditioned to that now. I'm not saying it won't go down, I just don't see a basis of reasoning for it in the short term, so I wonder why people now have this feeling. Why do you think it will be down tomorrow?
Posted by Tiger JJ
Member since Aug 2010
545 posts
Posted on 8/4/11 at 4:41 pm to
Seems like the story is Europe now.
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