iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,678 Blog Posts

Here Are the Six Previous Times the $SPY Dropped 3% or More Since 2011

All points to a short term spike that will rip your fucking faces off — knock your jawbone loose, and then mudstomp the rest of your mug into dust.

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16 comments

  1. natehois

    I got dick stomped today

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  2. Lyndon Keltner

    The chronological sequence of the Great Depression:

    1929: sub-4% unemployment; decelerating (global) growth; talks of trade war in Washington; market crash began in October
    1930: Hoover tax cuts; Smoot-Hawley Tariff Act; breadlines; more crash
    1931: more breadlines; more crash
    1932: more breadlines; more crash; market bottomed on July 8, 1932 after a 90% decline
    1933: more breadlines

    And so on. The breadlines will have the gluten-free option this time when they make a comeback because millennials.

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    • ferd

      You think today’s Americans will patiently stand on line? Who would have thought: Lyndon, the wild-eyed optimist.

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    • fryguy15

      There will also likely be falafel and avocado to go with the bread. Perhaps even a nice pesto.

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      • theonnodick

        I, for one, welcome our new orderly lunch lines and tahini sauce. I will ask for red pepper hummus AND the nice pesto. Both are great on bread line sandwiches.

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    • the dude

      As a reader of history, nice post but a bit facile. In 1929 you could buy stock with 5 to 1 margin. Bank lending was out of control speculative. Inventories were piling up as new production line techniques overwhelmed demand. The banking system was much weaker with many small banks. A handful of bad loans could sink each one. Maybe most importantly, the Fed ramped up rates aggressively with the discount rate at 6%. None of those situations apply today.

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  3. jbandy

    Dont fight the deep state. This Fed-engineered sell-off will last through the mid-terms.

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  4. one-eighty

    The bounce in the GOP after the Kavanaugh confirmation hearings has spooked investors.
    They were hoping the madness would end this November.

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  5. ferd

    Oil has given back more than half its Iran, hurricane, etc., move – covered here.

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  6. WrongView

    Your list does not appear to be complete.

    What about 02/06/18, for example? Spy dropped by >4%

    Or am I wrong?

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  7. WrongView

    Crap, I am wrong. Read your dates incorrectly. Apologies.

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  8. ferd

    PM time?

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  9. numbersgame

    Hmm, I wonder how the market behaved prior to 2011? If only there was some way to know. Well, because we are in a bull market, I guees it makes sense to only look at recent performance. Maybe I should buy NFLX and AMZN

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