The open looked promising, with the Dow halving its losses and people generally giddy about the specter that it’d close green.
Not gonna happen.
By the grace of the Devil himself, markets are now plunging to new lows, down over 400 points. There is wild speculation regarding China, as they’ve taken measures to completely annihilate themselves. They’ve suspended circuit breakers and now will enjoy the full panic of an investor class better fit for a hoe, than a brokerage account. And that’s the farm tool, you ignoramus.
I expect the Chinese market to fall good and hard tonight, emulating, and ironically copying, previous market crashes held here, right in America. The Chinese and their piracy ways will now feel the wrath of investor enmity.
Municipal bond yields are plunging, as well as sovereign bond yields of western nations. These are safe havens and will continue to do well, as we sink to lower levels.
Aside from my SPY position, I will continue to hold TLT until the yield curve inverts.
If you enjoy the content at iBankCoin, please follow us on Twitter
Will there be riots in China as well? That would really make it complete.
Actually, the Chinese Govt will be using everything and their dog, to buy the market. They are so blatant about it. They will probably buy in the Steel sector and banks. The Chinese people know their Govt does that, so not much selling tonight. They will get a better sell point. Also the Peg tonight will be not so drastic. I suspect a dull China Market, but ROW will continue the blood bath of course.
Sure, right, of course, certainly.
Fly said it himself – DOW will fall 1000 in a day (1000 in a week close enough)
Fly said – the toughest thing is to but the dips,
It won’t get any easier on the emotion side to buy,
I’m buying two things on the close V and AAPL
They will get pulled along as good as anything on the bounce
Tomorrow is the dip buy. Not today.
Nobody complained when it double in a year but oh boy let it go down 50% in a year and listen to the squalor[sic].
it was a lot more fun to check in at 3:30pm. my oversold indicator says it was a good day to see the Star Wars movie. watching this stuff is self-flagellation. i’ll pass on that.
About 25% of my holdings are munis or muni CEFs. Every 4-5 years something shakes up the muni market and it drops 10% indiscriminately. ROIC of 4.5% tax-free with AA or higher. Boring as hell, except days like today. I have no clue what China will do, but I’ll take a random guess that it closes off its lows by at least 3%.