The market could crash today.

[pmull]

Down -414 now. We are about to go under 11,000.

As the trading day concludes the market should show a slight gain toward todays open. I'm not going to spell the whole thing out but trust me, this is due to traders scrambling to cover short positions, not anything that BHO had to say. The White House knows this,-- and that explains the delay in today's presser. Tonight they will be all over MSNBC saying BHO calmed the markets and stopped a crash. Imagine people so politically driven that their big concern today is not your $401k turning into a $201k, but rather, how they can score political points. I try not to HATE but they are making it difficult.

BHO is blaming The Tea Party. What a joke. 

[BAMAWV]

Down -414 now. We are about to go under 11,000.

As the trading day concludes the market should show a slight gain toward todays open. I'm not going to spell the whole thing out but trust me, this is due to traders scrambling to cover short positions, not anything that BHO had to say. The White House knows this,-- and that explains the delay in today's presser. Tonight they will be all over MSNBC saying BHO calmed the markets and stopped a crash. Imagine people so politically driven that their big concern today is not your $401k turning into a $201k, but rather, how they can score political points. I try not to HATE but they are making it difficult.

BHO is blaming The Tea Party. What a joke. 

I heard someone on FOX say before the press conference that no way will he come out pointing blame, maybe Bret Baier? El wrongo!

[ssmith general]

[BAMAWV]

Bingo. Thanks. That upward spike (aat 3:30EDT) is people covering their short positions.

[ssmith general]

Bingo. Thanks. That upward spike (aat 3:30EDT) is people covering their short positions.

I dont know that much about it, but I do know it tends to rebound a bit just before closing, I will take your word for it.

[SUPERCOACH]

Down -414 now. We are about to go under 11,000.

As the trading day concludes the market should show a slight gain toward todays open. I'm not going to spell the whole thing out but trust me, this is due to traders scrambling to cover short positions, not anything that BHO had to say. The White House knows this,-- and that explains the delay in today's presser. Tonight they will be all over MSNBC saying BHO calmed the markets and stopped a crash. Imagine people so politically driven that their big concern today is not your $401k turning into a $201k, but rather, how they can score political points. I try not to HATE but they are making it difficult.

BHO is blaming The Tea Party. What a joke. 

I heard someone on FOX say before the press conference that no way will he come out pointing blame, maybe Bret Baier? El wrongo!

I was watching Fox for a little while today.  But then they had one of those segments with a panel of experts come on there.  Once they started bickering back and forth and interrupting each other I turned it off.  I have no idea what they were saying.  They talk over each other and you can't hear anybody.  That is the worst format for a news show that I can imagine.  Who wants to turn on the TV to hear a bunch of know it alls arguing with each other?  I think this trend all started on Cross Fire years ago on CNN.  Now it seems like there is one of those segments on just about every news show.  The sad part is that people must like to watch these guys being rude, inconsiderate, and disrespectful to each other, otherwise they wouldn't put it on TV.

When did this country become so uncivil?  I happen to have a very good friend who is completely the opposite of me on most major issues of politics and religion.  We discuss subjects all the time where we are completely opposed to each other.  In fact we couldn't be more opposed on most topics.  However we have never once gotten into a heated argument in the over 15 years that I have known him.  Not one time.  Sure we disagree, but it is always in a conversational tone, and we allow the other person a chance to say what is on their mind and make their points without constant interruption.  Then we make our own counter points using facts, logic, and reasoning, all in a respectful way.  This back and forth moves the discussion forward, and although we are still usually in total disagreement to each other at the end of the conversation, we now have a much better understanding and respect for the counter position.  Occasionally we even come to some sort of agreement.

So why can't they do that in Washington?

[BAMAWV]

Down -414 now. We are about to go under 11,000.

As the trading day concludes the market should show a slight gain toward todays open. I'm not going to spell the whole thing out but trust me, this is due to traders scrambling to cover short positions, not anything that BHO had to say. The White House knows this,-- and that explains the delay in today's presser. Tonight they will be all over MSNBC saying BHO calmed the markets and stopped a crash. Imagine people so politically driven that their big concern today is not your $401k turning into a $201k, but rather, how they can score political points. I try not to HATE but they are making it difficult.

BHO is blaming The Tea Party. What a joke. 

I heard someone on FOX say before the press conference that no way will he come out pointing blame, maybe Bret Baier? El wrongo!

I was watching Fox for a little while today.  But then they had one of those segments with a panel of experts come on there.  Once they started bickering back and forth and interrupting each other I turned it off.  I have no idea what they were saying.  They talk over each other and you can't hear anybody.  That is the worst format for a news show that I can imagine.  Who wants to turn on the TV to hear a bunch of know it alls arguing with each other?  I think this trend all started on Cross Fire years ago on CNN.  Now it seems like there is one of those segments on just about every news show.  The sad part is that people must like to watch these guys being rude, inconsiderate, and disrespectful to each other, otherwise they wouldn't put it on TV.

When did this country become so uncivil?  I happen to have a very good friend who is completely the opposite of me on most major issues of politics and religion.  We discuss subjects all the time where we are completely opposed to each other.  In fact we couldn't be more opposed on most topics.  However we have never once gotten into a heated argument in the over 15 years that I have known him.  Not one time.  Sure we disagree, but it is always in a conversational tone, and we allow the other person a chance to say what is on their mind and make their points without constant interruption.  Then we make our own counter points using facts, logic, and reasoning, all in a respectful way.  This back and forth moves the discussion forward, and although we are still usually in total disagreement to each other at the end of the conversation, we now have a much better understanding and respect for the counter position.  Occasionally we even come to some sort of agreement.

So why can't they do that in Washington?

The left WILL NOT admit they are wrong.

[ssmith general]

dropped again, -600 @ 9 minutes before close

[SUPERCOACH]

Down -414 now. We are about to go under 11,000.

As the trading day concludes the market should show a slight gain toward todays open. I'm not going to spell the whole thing out but trust me, this is due to traders scrambling to cover short positions, not anything that BHO had to say. The White House knows this,-- and that explains the delay in today's presser. Tonight they will be all over MSNBC saying BHO calmed the markets and stopped a crash. Imagine people so politically driven that their big concern today is not your $401k turning into a $201k, but rather, how they can score political points. I try not to HATE but they are making it difficult.

BHO is blaming The Tea Party. What a joke. 

I heard someone on FOX say before the press conference that no way will he come out pointing blame, maybe Bret Baier? El wrongo!

I was watching Fox for a little while today.  But then they had one of those segments with a panel of experts come on there.  Once they started bickering back and forth and interrupting each other I turned it off.  I have no idea what they were saying.  They talk over each other and you can't hear anybody.  That is the worst format for a news show that I can imagine.  Who wants to turn on the TV to hear a bunch of know it alls arguing with each other?  I think this trend all started on Cross Fire years ago on CNN.  Now it seems like there is one of those segments on just about every news show.  The sad part is that people must like to watch these guys being rude, inconsiderate, and disrespectful to each other, otherwise they wouldn't put it on TV.

When did this country become so uncivil?  I happen to have a very good friend who is completely the opposite of me on most major issues of politics and religion.  We discuss subjects all the time where we are completely opposed to each other.  In fact we couldn't be more opposed on most topics.  However we have never once gotten into a heated argument in the over 15 years that I have known him.  Not one time.  Sure we disagree, but it is always in a conversational tone, and we allow the other person a chance to say what is on their mind and make their points without constant interruption.  Then we make our own counter points using facts, logic, and reasoning, all in a respectful way.  This back and forth moves the discussion forward, and although we are still usually in total disagreement to each other at the end of the conversation, we now have a much better understanding and respect for the counter position.  Occasionally we even come to some sort of agreement.

So why can't they do that in Washington?

The left WILL NOT admit they are wrong.

No politician will admit they are wrong about anything.  In fact very few people will.  But even if you won't admit it, you can at least acknowledge the possibility in your own mind and take that into consideration in the future.  But these guys will ride the plane until it augers in, when any reasonable person would bail out of a mistake before they crash and burn.  It is their arrogance that keeps them from admitting a mistake and making a course correction.

[ssmith general]

 

Not as bad as I had feared when I started this thread, so ...

[pmull]

 

Not as bad as I had feared when I started this thread, so ...

-633 (5%) is pretty bad. Now we wait for tomorrow. 

[ricky023]

AWWWW shoot if everybody was like me and broke just scratching for food and money to pay bills they wouldn't have to worry about any of that rich stuff and moosing money. RTR!

[BAMAWV]

Bingo. Thanks. That upward spike (aat 3:30EDT) is people covering their short positions.

I dont know that much about it, but I do know it tends to rebound a bit just before closing, I will take your word for it.

Don't mean to insult you or anyone elso but here is the simplistic explanation of "short" selling:

Let's start with 1 share of xyz tomorrow morning. I feel that XYZ is going to drop.  It opens the day at $100. I "borrow" the stock and sell it-- I now have $100 (cash) but owe you 1 share of XYZ. During the day the price of XYZ drops. It continues to fall until we are getting close to the closing bell. I buy a share of XYZ which is now only worth $60 a share. I now have 1 share of XYZ and $40 cash. I give you back the share of XYZ and pocket the $40, less the cost of trading and capital gains tax.

But the larger point I was making is that huge amts. of stock were sold short and then in order to "pay back", traders had to go back and buy the stocks they sold earlier in the session. This causes a market "uptick" towards the end of the session. Obama and the adoring media will try to tell people tonight that the "uptick" was due to his press conference, and say he is a great leader, but the saavy BAMAWV post readers on CRS will know better. LOL  

[SUPERCOACH]

Bingo. Thanks. That upward spike (aat 3:30EDT) is people covering their short positions.

I dont know that much about it, but I do know it tends to rebound a bit just before closing, I will take your word for it.

Don't mean to insult you or anyone elso but here is the simplistic explanation of "short" selling:

Let's start with 1 share of xyz tomorrow morning. I feel that XYZ is going to drop.  It opens the day at $100. I "borrow" the stock and sell it-- I now have $100 (cash) but owe you 1 share of XYZ. During the day the price of XYZ drops. It continues to fall until we are getting close to the closing bell. I buy a share of XYZ which is now only worth $60 a share. I now have 1 share of XYZ and $40 cash. I give you back the share of XYZ and pocket the $40, less the cost of trading and capital gains tax.

But the larger point I was making is that huge amts. of stock were sold short and then in order to "pay back", traders had to go back and buy the stocks they sold earlier in the session. This causes a market "uptick" towards the end of the session. Obama and the adoring media will try to tell people tonight that the "uptick" was due to his press conference, and say he is a great leader, but the saavy BAMAWV post readers on CRS will know better. LOL  

I'm not disputing the uptick was caused by people buying to cover their short sells, but it seems to me like they would just let this one ride for a little while.  I don't see the market rebounding much any time soon.  These guys that are buying to cover think the market is going to stabilize and they want to cover the short sells now instead of holding on to them and taking a chance on a rebound.  They got a pretty good bang for their buck today, so why risk a rebound when the additionally profit is likely to be negligible in comparison to the additional risk?  Plus they don't want to be left holding the bag overnight just in case some breaking good news (real or fake spin) happens tonight.  Just thinking out loud and trying to understand what is going on with the market.

[BAMAWV]

I copied/pasted this for an brief explanation:

Most of the time, you can hold a short for as long as you want, although interest is charged on margin accounts, so keeping a short sale open for a long time will cost more However, you can be forced to cover if the lender wants the stock you borrowed back. Brokerages can't sell what they don't have, so yours will either have to come up with new shares to borrow, or you'll have to cover. This is known as being called away. It doesn't happen often, but is possible if many investors are short selling a particular security.

Anyway, day traders generally close (me too) each afternoon.

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