Coffee Talk -- Today's Market

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Lemonyellowschwin's picture
Lemonyellowschwin
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Coffee Talk -- Today's Market

Topics:  Euro breaks $1.20.  Dow breaks 10,000.  Job report bad.  Hungary admits to being on verge of default.  Ted-spread rising.  And gold is up.

http://www.bloomberg.com/

Let's hit "refresh" and discuss.

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Lemonyellowschwin
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Hungary Hungry?

24 hours ago, Hungary was not on the radar anywhere in the MSM economic news.  Today, the government is talking about default, and its "grave situation" resulting in a huge drop in the currency and an inability to obtain financing.

Which will it be tomorrow?  The Czech Republic?  Great Britain?

http://www.bloomberg.com/apps/news?pid=20601068&sid=aSDPM6F7K89Q

SagerXX's picture
SagerXX
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Re: Coffee Talk -- Today's Market

I too noticed that the Euro dipped until 1.20 (although it's now back over that).

At 1:52 Eastern time, we have the Dow down -2.53%, NAS -2.7% and the S&P down 2.63%.  If things hold to general form, we should get a closing rally to trim those losses (and get the Dow back over 10k).

Yes -- Hungary.  I hadn't heard that they were in trouble at all.  But in their recent election, a guy won the Presidency (or whatever they call the top job) and pledged to cut taxes & raise spending to get the economy back on its feet.  Evidently the countries creditors thought that was a bad idea (and so now they're having trouble finding buyers for their bonds [as is Romania]) and now they hover near that default line.

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Re: Coffee Talk -- Today's Market

I was wondering where people were, seemed slow around here for what looked like a potentially interesting day....again......

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that1guy
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Re: Coffee Talk -- Today's Market

gold is still up, while the dollar is up, all markets down, silver down (may get another buy opportunity there it seems)..................

 

makes you wonder how long the powers that be can hold up the crubling deck of cards.......Laately it doesnt look like it will be as long as we all hoped

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Lemonyellowschwin
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Re: Coffee Talk -- Today's Market

OK, it's 3:00 p.m. ET and the Dow is off 330, the Euro has now dropped to about $1.1965 and gold, while still up, is off a little from its highs of the day.  There might be some forced liquidation in progress to counteract the save-haven buying going on? 

Oh, and the dollar index is up above 88.

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Lemonyellowschwin
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It's 3:40 ET and I'm Waiting . . .

. . . for the stock market to make a massive comeback in the last 20 minutes.  Dow currenly off about 325.

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Re: Coffee Talk -- Today's Market

Well 15 minutes left in the market & no fat finger lady singing or pushing that B key for bazillion yet LOL. Covering my shorts at this moment & picking up a long or two for monday.

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Lemonyellowschwin
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And, With 5 Minutes Left . . .

. . . Dow off 340.  The Euro has just taken as massive beating today.

SagerXX's picture
SagerXX
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Re: Coffee Talk -- Today's Market
SagerXX wrote:

At 1:52 Eastern time, we have the Dow down -2.53%, NAS -2.7% and the S&P down 2.63%.  If things hold to general form, we should get a closing rally to trim those losses (and get the Dow back over 10k).

And my sagacious predictions (above) only go to prove that if you want to make money in this market, just do the opposite of what my ponderings imply.

Maybe we should get an ETF together?  The Ultra Contrary SagerFund?  

 

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britinbe
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Re: Coffee Talk -- Today's Market

On CNBC, even Cramer didn't seem to be his usual upbeat self...... perhaps more conditioning by the MSM for the masses??  Its all very interesting to watch

 

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Re: Coffee Talk -- Today's Market
that1guy wrote:

gold is still up, while the dollar is up, all markets down, silver down (may get another buy opportunity there it seems)..................

DOW -3.16%, S&P 500 -3.44%, Toronto -2.05%, silver is back to where it was in March. Must get some this weekend as I might need it sooner than expected.

G20 Finance ministers and central bankers meeting in Busan, S. Korea and not available for immediate response Friday. Expect S&P 500 futures to rise on Sunday.

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Re: Coffee Talk -- Today's Market
SagerXX wrote:
SagerXX wrote:

At 1:52 Eastern time, we have the Dow down -2.53%, NAS -2.7% and the S&P down 2.63%.  If things hold to general form, we should get a closing rally to trim those losses (and get the Dow back over 10k).

And my sagacious predictions (above) only go to prove that if you want to make money in this market, just do the opposite of what my ponderings imply.

Maybe we should get an ETF together?  The Ultra Contrary SagerFund?  

 

 

But it has to be kept secret from you.  Otherwise, you'll start making accurate predictions and your fund will fall rapidly to zero.

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LogansRun
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Re: Coffee Talk -- Today's Market

I took out $5k in cash today as an insurance option for the weekend.  Too many "funny" things going on this weekend to feel comfortable.  G20, Deep Horizon, Bilderberg (sorry if this is against the rules...it is going on though), and now Hungary.  This doesn't include: Israel/Turkey,  N. and S. Korea, or Iran.  

BTW:  Anyone watch "The Road"?  I'm about 2/3 of the way through and am kind of sick to my stomach.  

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SagerXX
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Re: Coffee Talk -- Today's Market
LogansRun wrote:

BTW:  Anyone watch "The Road"?  I'm about 2/3 of the way through and am kind of sick to my stomach.  

The Road -- excellent movie, but stomach-turning indeed.  (We watched it last weekend...)

And Cormac McCarthy is a writer w/the kind of talent that makes me shout out loud when I'm reading him from time to time.  His way with the language is beyond mastery.  Kind of a shame he has such a lowlowlow opinion of mankind & existence in general.

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SagerXX
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Re: Coffee Talk -- Today's Market
LogansRun wrote:

BTW:  Anyone watch "The Road"?  I'm about 2/3 of the way through and am kind of sick to my stomach.  

The Road -- excellent movie, but stomach-turning indeed.  (We watched it last weekend...)

And Cormac McCarthy is a writer w/the kind of talent that makes me shout out loud when I'm reading him from time to time.  His way with the language is beyond mastery.  Kind of a shame he has such a lowlowlow opinion of mankind & existence in general.

I believe a movie version of his novel "Blood Meridian" is due this Fall.  Several scenes in that book that are just as challenging as The Road.

Dogs_In_A_Pile's picture
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Re: Coffee Talk -- Today's Market
SagerXX wrote:

Maybe we should get an ETF together?  The Ultra Contrary SagerFund?  

Sager -

Please make it an optionable fund.  Laughing

SagerXX's picture
SagerXX
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Re: Coffee Talk -- Today's Market
Dogs_In_A_Pile wrote:
SagerXX wrote:

Maybe we should get an ETF together?  The Ultra Contrary SagerFund?  

Sager -

Please make it an optionable fund.  Laughing

Done, and done!

 

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SagerXX
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Re: Coffee Talk -- Today's Market

The gold price may go down near-term.  But IMO it's a long-term no-brainer.  Ditto silver, maybe even moreso...

And now -- looking forward -- I expect this to be a very, uh...eventful week.

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