The great meat grinder of 2014 is upon you. This is the capital destructor, the zero sum game of pain.
If you pay close attention, you can smell the fear. You can’t say this wasn’t telegraphed, because it was. Hell, I’ve been telling you for months that this was bound to happen. After QE1 and 2, the market dropped by 16 and 19 percent, respectively. Over the past month, more than 1,400 stocks are down 10%, compared to just 10% up. Yields are at new lows, as well as commodities and the Fed is nervous, real nervous.
The shipping, coal, and miners are on the verge of bankruptcy, and the farmers aren’t fairing too well either. Old school retailers, JCP and SHLD, now have junk status bonds that are indicating bankruptcy. The rest of retail is a mess too.
What do we have?
We have a bunch of fat, bloated, global pariahs who employ people in Malaysia for $1 per day and then turn around and sell to us for $20.
The banks are good, if you consider good paying the government billions of dollars in endless fines.
I regret buying TRN yesterday. I am happy with both HE and WRE and I know ETR will be fine. Much to my chagrin, I am nearly fully invested, with just 10% cash. There is nothing redeeming about today’s tape, other than its audacity.
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Time to change that logo again.
I have no control over it. The blood moon control iBC’s logos.
hahahahahahhahahahahahahaha
+1
Aren’t we supposed to buy tomorrow?
Yes, tomorrow we’ll be us 300 points on the DOW.
For a +300 pt jump tomorrow, you should be buying today.
Don’t buy until the DOW gets well under 16K, maybe 15K. I told ya.
only if the fly says not to, it has worked pretty well for the last couple weeks
Action in oil is bizarre and, as you stated in your prior post, probably the result of some geopolitical maneuvering among the powerful and diabolical. Also odd to see gold miners getting killed despite a big jump in gold. Everything will be sold.
Ultimately, these honest posts are the best. Just don’t go full Altucher.
Altucher is a strong writer. But there is something inherently weak about him that I despise.
Because his name at first glance looks like a portmanteau of Ashton Kutcher?
His voice and mannerisms are also annoying as fuck, and he speaks and writes in useless generalities much of the time.
He is a thoughtful flake.
I’m gonna say it
This is just fucking retarded
Ah, bless.
i am fully invested too… in VXX and FAZ from yesterdays close.. your pain is my gain and my account thanks you for your support
I LOVE THAT COMMENT. If I were you, I’d say the same shit.
The selling is relentless.
Where do you stand, YTD? Any chance for break-even by year end?
Are you talkin to me?
Me?
Are you talkin’ to me?
I’m surprised TLT is down in the wake of today’s market.
smell fear with hype websites company still flying high? not so fast.
Speak engrish
LOL
“The banks are good, if you consider good paying the government billions of dollars in endless fines.”
Indeed the banks are good. Because they make more billions by breaking the law than they pay in fines. I guess they were also long yesterday and short today, due to having inside information. Even on a flat day, their bots trade in & out every millisecond and end up with a pile of cash at the end of the day.
The banks are good. But nobody else is. That’s the problem here.
internet companies can make money from ads or selling stuff. the ads pizza can go disappear anytime. selling stuff has no edge while paying a coder $300k a year. they can drop much faster then old stuff.
As the great one said: “Cancel allllllll ORDERS!!” Arrrrgh..
Arrrgh mi lanlubberz. grab a wench, a jug-o-rum, a good DVD and sit tight me matey, less you meet davy’s locker penniless.
TRN? You are about 9 months late on that pick. Even the favorable regulatory changes to tanker cars will not boost TRN much this quarter or next. Mostly cash folk like myself are grinning this month.
I pulled out of this market faster than a prom night cock.
Oh shut up, you stupid little shit.
That’s “stupid little shit sitting who is not watching my money melt on crap like TRN” to you.
I implore you to take english lessons.
Please capitalize “English” before you implore anything.
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… “english” is applied to a que ball … “spin” is applied to a tennis ball !!!
—
Just so ya know !!!
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Tennis is for homos. Real men tour France with bicycles.
Alf – for a while I thought you were retarded. However, the consistency of your comments proves otherwise. Thanks for the laughs, bud.
still ye be thinkin ta buy tmr’w Cap’n given teday’s carnage?
Argggh.
is that a subliminal message with the iBC logo good dr ?
GOLD iBANKCoin lettering with a bull standing just to the left ; )
Apparently everything is now worthless
Noooooo, it was ALWAYS mostly worthless, now you got the proof.
I am going to go eat a sandwich and hope to god something sensible happens while I’m away.
You like huggybear. There is no peace and plenty, only war and famine.
Oil under 85. Seems like going straight to 80.00
Oil won’t recover until ISIS starts dropping it on people.
They are selling oil to “degrade and destroy” ISIS
My longs are just fine.
Nothing like a good old fashioned meat grinder to bring out the best comments on iBC.
QE10 soon, BTD. BULLISH
Some central bank wacko could announce I’ll-save-you printing. Wouldnt that be fun
Told ya!
Any questions?
Love the skeleton doing lotus pose. Yoga is good for the mind and body.
This market is exactly like the “Crash of 1987” where the Dow moved up from 2200 to 2700 over 2+ years with hardly a pause.
Topping action began in Sept and early Oct 1987, when the
Dow moved down to 2600 and had huge daily gyrations up and down.
The “crash” began about this time in October, and in 12 session the Dow dropped from 2600 to under 1800, most of that on “Black Monday” where the crash was worse (35%) PERCENTAGEWISE than the Oct 1929 crash.
Carl Icahn is trying to prop up APPL. I say PREPARE TO MEET YOUR MAKER in some exogenous event. Buy your WAY OUT of the money November puts right now!
It certainly has that feel when there are no bids
But we have Obama and Shrek.. err, Yellen
This about sums up the day.
http://imgur.com/DtI27aF
My losses are quite grave.
Just zeroed out three months of gains.
Feels good, man.
You were so Sure of market solidarity. A week ago.
I had gains to zero out. You did not.
You have been trying to call the top for months.
+1
Of course I have. Irrelevant.
The last 3 weeks right now. Is relevant.
Markets move because each moment in time is unique.
Correct.
I need a 30 point AND I MEAN A FUCKING 30 POINT REVERSAL
The sold my crude futures on margin call. MOTHERFUCKERS
Huggie,
Keep Calm
And
Trade On
I went away to eat a sammich and they sold my damned crude futures…at the bottom. Already bouncing…
That is not how sammich eating is supposed to work.
Try to stay moist Huggie my man. Remember, ‘WWAFD’
What would Antonio Fargas do?
Wow, just looked it up & found that Antonio had a son named Justin who played for the Raiders NFL team. How cool is that, you play for the Raiders AND your dad is Huggybear… Simply AWESOME!
Looks like $90 is the support for Brent. If it keeps falling like it has recently for the next couple days, then oil hasn’t caught a bottom. If not, my guess is that we’ll start seeing a gradual increase of prices for the next 3-4 months.
The one bright spot is that most of the risk on vehicles are holding above the recent lows. More importantly, we need to close the week above these lows.
Dow > 16663.26
SPX > 1925.25
NDX > 3934.94
Naz > 4355.34
SOX > 600.65
RUT > 1065.75
HYG > 91.40
XLF > 22.74
IBB > 264.52
XOP > 60.96
IYT > 143.69
VIX needs to close below 18. And crude needs to bounce off $85.90.
Were gonna flush EOD, no bids. ES close below 1918 we can see 200 day first.
Was it really a time, 14-21 days per se, To be long? Not cash? Maybe?
God damn you.
On the SPY it’s 192.36 – where we bounced off both rallies. Doesn’t look like we’re going to make it through today but if we do at some point, it could be trouble.
Cracker Barrel up a point and a quarter. Apparently country cheese grits is wall street’s new safe haven
JO up 3.5% today.
How is Waffle House doing (don’t know if it’s public)?
The best double hash browns smothered in onion with pecan waffles anywhere.
Plus the bonus of getting served by a waitress missing teeth and sweat coming from the armpits.
BABA and LOCO have not sold off. If the bulled market resumes that is a very bullish sign for those two stocks.
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… I just wish I was the “STOP having a boring life” guy !!!
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That dude has to have the best gig on the planet !!!
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I don’t know.
He seems to have a bunch of dental problems.
Le Fly…an apologist for the banking scumbags? Rip off the middle class for $6,000,000,000,000 and pay less than 0.001% of that in fines….no jail time…..not a bad deal. It is good to own the gubberment!
($6,000,000,000,000 is 6 trillion for you private school retards)
Malaysia wages is not that low, on average they are getting $800 monthly income
FFFFFFFFFFFFUUUUUUUUUUUUUUUUCCCCCCCCCCCCCCCCCCCCCCCCK
Rub some Pedigenix exfoliating crème on your feet and your worries will disappear.
+1,2
How come the US isn’t trying to fight back against Saudi oil overproduction which is probably designed to disrupt US oil E&P? Do they own the US gov’t also?
stupid question – of course they own the us govt. the saudi’s attacked the states 13 years ago and the states invaded afghanistan and iraq. and the dumb mutherfuckers who live in the states said, “oh good we’re attacking those eh-rab enemies”
The situation is more complex than that. The Saudis who attacked on 9/11 were rebels against the official government of Saudi, not representatives associated with that government.
That being said, the Saudis may possibly own the U.S. government, along with many other owners, domestic and foreign. Because secretly bribing Congress is legal for any country, corporation, or other organization with big bucks, as a result of the Citizens United ruling.
This is unreasonable selling. Last check there were only 399 stocks positive in the ppt. Even high yield and utilities are down.
ya. its called panic. and fuck it sucks.
I’d be surprised if we don’t close weak/on the lows of the day.
What could be interesting is if we close near the lows but above the key support levels. Then next day, market opens underneath them.
That would fuck a lot of shit up.
Alf is up in this bitch dropping knowledge. Here’s an interesting thought, maybe retarded, but why not just ride out the volatility in cash? Halloween and Thanksgiving are approaching quickly.
stop getting punched in the dick
http://deadspin.com/boxer-gets-punched-in-the-dick-so-hard-he-cant-continue-1644421938
LOL
In the words of the great David Allan Coe — “don’t bite the dick that fucks you honey, you gotta learn to suck it funny.”
Ebola or Aids? How do you want it?
This chick is on CNBC right now. She’s pretty damn hot.
https://www.flickr.com/photos/101405121@N05/9693934175
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When Black Friday comes
I’ll stand down by the door
And catch the grey men when they
Dive from the fourteenth floor
When Black Friday comes
I’ll collect everything I’m owed
And before my friends find out
I’ll be on the road
When Black Friday falls you know it’s got to be
Don’t let it fall on me
~ Steely Dan ~
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I need a last hour miracle
Archie Binker says:
“Ahhh Jees Edit, here comes Kudlow on tha tube again…”
I nnow only ask that the deficit be cut in half
10 more points is fine with me
You still holding? Market wont break
DEATH BECKONS
I think the market coming off the lows here is not a good thing. To end this sell off we need real capitulation. That would be closing on the lows and a big gap down in the morning that marques the bottom.
I don’t know, it has to close below spx 1928.
A panic sell/capitulation where SPX dips below 1925 intraday or gaps down below that but closes the week strongly above it would be the ideal situation. That would be a bear trap and could really wash out the sellers and weak hands.
possibly, but given today’s action I think a close just above support is suffice, for now
maybe we get it tomorrow, gap down selling all day before the weekend
Hey stock market! Jeffrey Dahlmer thinks you’re a sick-o!
Alot of folks in here need a chill pill. Relax Mika.
My name is Devildog…and I come to you from the future….
Another big red clean-out set coming tmrw. Then we bob around peacefully in the foam, taking inventory. Board attached? Board intact? Head intact? Limbs attached?
Yikes! Sorry for your loss.
I’m overweight oil and gas. I’m going to sell everything, buy a baseball bat, and club small animals for food. My wife is on her own.
That was one flaccid finish.
Well that was fun now wasn’t it?
Market is still too expensive – another 1000 points off the DOW and it will be perfect for action, until then – you heard the one about the fool and his money?
This is not the time to panic ,it’s just money. (Except for people with ebola)