2011 Global Stock Market Collapse Watch

Oh well here we go...

...BLACK FRIDAY.

Sell Sell Sell.

Should be lots of bargains come Mon.

I lost big time on US index today..went past the Stop-loss and kept-on going !!

I bought in at yesterdays dip expecting to make it big on the come-back rally..didn't happen did it..oh no, fell off another cliff instead.

Sell what you got and buy Gold n Silver..cos Monday is gonna be an even lower dip, hopefully it won't go any further after Monday cos i intend to buy buy buy when it picks-up.

Cosmic...

reply to post by Cosmic4life


Wow. SLV (Silver spiking to the upside). I wonder if we're seeing the beginning of a short squeeze...

The market is weak and very damaged.

It shows in internals.

50 new highs, 500 new lows.

The bank stocks are tanking. Good! I hope the banksters get hammered. Is the Fed going to bail them out again? I wouldn't be surprised. Of course they will pass their losses on to us with higher fees and more interest. Is Bank of America to big to fail?

reply to post by ontarff


BAC will most likely reverse-split fairly soon and then try to raise capital by issuing new stock.

C did this recently, probably after being told that no more bailouts were forthcoming.

Notable:

"""The Volatility Index, also know as the "VIX,' is up close to 3.0% today at 43.92 and has gained more than 20% this week as fears of a global economic slowdown and persisting problems in Europe rattled markets. This week's gains have the VIX just below last week's high of 48.00, a level that was last seen in response to the twin natural disasters in Japan. Should a breakout of the 48.00 level occur the fear gauge will be at a level not seen since the days leading up to the stock market bottom in March 2009. During the heart of the financial crisis the VIX hit a high of 89.53.""" briefing.com

As the market collapses totally now, with all indicators flashing alarms in every aspect of the economy, sending shivers of fears... Do comprehend one necessary truth... We humans still have basic needs to be met.

And it will be either the service or the production of meeting such needs that will ensure the continued employment and circulation of money around the world, even as many had hoarded their money. They will still need to pay cash to meet their needs from the hoard, and a gold bar certainly cannot buy an egg. The farmer will have no change for it.

Good luck to all! ;=)

BAC will probably take a good hit 3500 employees cut is a lot for a very large bank like that. I do wonder if they will collapse or not.

Something like that should affect the markets.

reply to post by hypr2011


It was suggested on CNBC last night that these job cuts may well trigger further job cuts across the financial sector, which may further trigger job cuts elsewhere. The possible outcomes could have a shocking UE printout in the next couple of months.

Some inflation news:

August 19 – Bloomberg (Shobhana Chandra, Alex Kowalski and David J. Lynch): “Signs that consumer prices are rising even as the U.S. economy slows may delay additional moves by Federal Reserve Chairman Ben S. Bernanke to spur growth. The Fed chairman, who is scheduled to speak at a Jackson Hole, Wyoming, conference on Aug. 26, used the annual gathering of economists last year to hint at a second round of so-called quantitative easing…”

August 17 – Bloomberg (Alex Kowalski): “Wholesale costs in the U.S. rose more than forecast in July, led by higher prices for tobacco, trucks and pharmaceuticals, showing declines in commodity expenses have yet to filter to other goods… Compared with July 2010, companies paid 7.2% more for goods last month…”

August 15 – Bloomberg (Elizabeth Campbell): “U.S. meat consumers are swapping premium steaks for cheaper ground beef as concern for high unemployment and slower economic growth forces families to trim their food budgets, according to industry researcher CattleFax. …retail ground-beef prices… climbed 17% this year and averaged $2.774 a pound in June, the highest since at least 1984.”

Originally posted by surrealist
reply to post by hypr2011

 

It was suggested on CNBC last night that these job cuts may well trigger further job cuts across the financial sector, which may further trigger job cuts elsewhere. The possible outcomes could have a shocking UE printout in the next couple of months.

the positions being erased by Bank of America/Merrel Lynch/Countrywide are only the preliminary reductions in their workforce...it is thought that the restructuring will cut another 10k positions.



As for other job cuts elsewhere....
the estimates are not even public yet, but the proposed Hewlett Packard 'restructuring' could add tens of thousands into the unemployment lines.
SEE: news.xinhuanet.com...

yea, my cousin works for HP in Canada, I wonder if he will get affected as well, would the HPs restructuring be something of a worldwide thing?

Like Research in Motion cut 2000 jobs, my one cousin works for them and she may have got affected, I am unsure if my friend did but hes moving back to Alberta very soon. The Playbook didn't do well even though the US gov't contracted them.

I see a lot of issues with the tech sector, many people aren't buying, its the same at my work, no phone calls yesterday for carpentry stuff, and we usually get a call or two but that was probably a fluke, I really think people want to save the money as new kitchens cost quite a bit, people have stopped buying bars, and are just going for smaller things like vanities and bookshelves.

Does anybody think that there may be a German 4th reich as part of this?

Check this out. Was on Twitter earlier and this came up on my search for currency.
Germany's Gold Reserves - A New World Currency? www.germanywatch.blogspot.com... #GermanyWatch #euro #debt #eu

At first I was thinking disinfo, but actually a lot of it makes sense?

Thoughts?

Next week looks like it will be pretty bleak. There hasnt really been any good economic news yet this weekend, and it dosent look like any good news will come out in the next few days either.

U.S. stocks to get no rest, remain volatile

SAN FRANCISCO (MarketWatch) — U.S. stock markets face a bleak, volatile trading week, as investors brace for more data illustrating subpar economic growth and the low likelihood of another rescue package from the Federal Reserve.

This week’s economic indicators include the Chicago Fed National Activity Index on Monday, and July new home sales on Tuesday. On Wednesday, July durable-goods orders and core capital-goods data are released, along with home-price index data for June. Then on Friday, the Commerce Department will revise its second-quarter GDP data.

Also on Friday, Fed Chairman Ben Bernanke is scheduled to speak in Jackson Hole, Wyo., at an annual conference of central bankers. At the same meeting last year, Bernanke signaled plans for a second round of quantitative easing, or QE2, setting off a months-long rally in stocks.

Originally posted by SeekerofTruth101
As the market collapses totally now, with all indicators flashing alarms in every aspect of the economy, sending shivers of fears... Do comprehend one necessary truth... We humans still have basic needs to be met.

And it will be either the service or the production of meeting such needs that will ensure the continued employment and circulation of money around the world, even as many had hoarded their money. They will still need to pay cash to meet their needs from the hoard, and a gold bar certainly cannot buy an egg. The farmer will have no change for it.

Good luck to all! ;=)

Kind of makes them eggs expensive then,, said the farmer,,
welcome too the real world,,
change? hahaha, 2 gold bars for you!

They´ve got lots of wriggle room to dump bonds for stocks -and then probably vice versa.

One and two-month Treasury bill rates ended the week at zero. Two-year government yields were about even at 0.19%. Five-year T-note yields were down 7 bps to 0.99%. Ten-year yields dropped 19 bps to 2.07%. Long bond yields tanked 33 bps to 3.40%.

Economic recoveries compared

A comparison of unemployment in several countries before and after severe financial crises shows that none had returned to pre-crisis levels a decade later.

www.washingtonpost.com...

Story:

www.washingtonpost.com... y.html

Looks to be another repeat of last week. Aus and Japan are back in the red, and the Bloomberg futures forecast are showing red across the board, so let's see how Bernanke and the ECB bandage this one up

Japan is stright up and then straight down oh man this should be fun.

reply to post by Doublemint


They're 'kinda' up now, but it's a weak attempt at best. I'm guessing markets will waver for a day, maybe even 'rebound' but I'm pretty sure it will dive again later this week. They seem to be injecting CDOs and buying each others debt (banker's circle) to keep it propped up. They sure won't be telling us what they're doing. We'll see