Gonna be a rough ride on Wallstreet today Fri. 12/21

Republicans failed to vote on Boehner's plan b proposal last night. They left for the holidays and won't be back till after Xmas. It's 3 am and Dow futures are dropping like a rock already down 160 pts.

Never let a good crisis go to waste. I'm sure after we fall off the cliff they'll use it as a excuse to ram all kinds of BS down our throats.

Dow Futures

money.cnn.com...

Ah, now we're talking. This is the real world reality doom we should be paying attention to. I have a feeling that the dollar is about to crash, and crash hard. The world will then change as we know it. A new form of greater depression than we have ever seen is coming...

Does this scenario seem plausible: ATS Thread: 12/22/12: The Day after Tomorrow

Originally posted by wantsome
Republicans failed to vote on Boehner's plan b proposal last night. They left for the holidays and won't be back till after Xmas. It's 3 am and Dow futures are dropping like a rock already down 160 pts.

Never let a good crisis go to waste. I'm sure after we fall off the cliff they'll use it as a excuse to ram all kinds of BS down our throats.

Dow Futures

money.cnn.com...

edit on 21-12-2012 by wantsome because: (no reason given)

Amazing how (for those searching for complete and utter destruction) this is usually where it begins. Yes it will definitely be an interesting day.

The world will end, as we know it....

OP Looks like you are right on.


Pre-Markets 4:50 am EST

S&P -18.90 / -1.31%
Nasdaq -37.25 / -1.38%
Dow -168.00 / -1.27%

I predict a saving salvo will be fired mid-day. No way in hell they allow the DOW to take a crap the Friday before Christmas. Too many consumer dollars still to be made this shopping weekend. Monday will be a throw away day with little movement. Wednesday is the best bet for blood on the trading floor.

In the end it's gonna be one big dung pie and we'll all have to take a bite.

So when are they going to resume negotiations? I thought most politicians would break until the New Year with maybe the exception of Xmas eve? So there's still going to be a few days just prior to the new year when they will come to a complete compromise to save the world at the last minute yet again.

Originally posted by surrealist
So when are they going to resume negotiations? I thought most politicians would break until the New Year with maybe the exception of Xmas eve? So there's still going to be a few days just prior to the new year when they will come to a complete compromise to save the world at the last minute yet again.

Gonna restart negotiations the 26th. It's only gives them 6 days to hammer a deal out. It's looking very unlikely given how divided the Republicans are. The Democrats put entitlements on the table including cuts to medicare social security food stamps and other programs. Some Republicans just won't except any taxes on the rich what so ever.

They'll wait until after the first of the year to get a deal. When it hits the fan they'll stick it to us and say we had no choice.

reply to post by burdman30ott6


Many retail analysts are saying that this weekend (at least in the UK) is going to be a bit of a washout in terms of sales, and especially in the face of the weather we're having...days of rain and floods yet again, perhaps appropriate.....no, lets not go there....

Many people will have already done their shopping online to have any chance of it being delivered in time for Tuesday, so maybe it wouldn't make that much difference, today or next week.

I think this is definitely the one to watch, not ufos or meteorites or seismic graphs, but the one we all saw coming a long way off and did nothing about.

reply to post by wantsome

It did all of the damage before midnight east coast time....dow futures = - 170 now; sp futures = - 18.50.

Looks like someone managed to build up sufficient flatulence to fart some methane into the stock market and keep it from falling too hard eh?

Or was that Obama's comments about negotiating a smaller, I mean, compromised deal on the fiscal cliff?

Originally posted by wantsome

Originally posted by surrealist
So when are they going to resume negotiations? I thought most politicians would break until the New Year with maybe the exception of Xmas eve? So there's still going to be a few days just prior to the new year when they will come to a complete compromise to save the world at the last minute yet again.

Gonna restart negotiations the 26th. It's only gives them 6 days to hammer a deal out. It's looking very unlikely given how divided the Republicans are. The Democrats put entitlements on the table including cuts to medicare social security food stamps and other programs. Some Republicans just won't except any taxes on the rich what so ever.

They'll wait until after the first of the year to get a deal. When it hits the fan they'll stick it to us and say we had no choice.

edit on 21-12-2012 by wantsome because: (no reason given)

I know the answer is "because they can", or the infamous rhetorical, "why does a dog lick his...", but, how can they possibly Gk about cutting ss & Medicare?! Those don't come from general fund taxes? That's OUR money, they're simply giving it back to us at a really, really, really low rate of return in exchange for it acting as disability insurance as well. I think if they want to cut SS 10%, then they had best cut SS inputs by at least 10%.

Neither SS or Medicare are handouts from tax money. You pay in to the fund or you don't get anything. If the fund was never raided, it would be over-stuffed. 13% of a person's gross income goes into it for 45 years to pay out for an average of, what, 10-15 years before death? With a population and economy that has grown like mad since its inception? They try to fool us with "the baby boomers are retiring!" well guess what, the current generation is a lot bigger than the boomers. Or do they think we actually believe the population has been shrinking?

Anyhow, regarding the market - yes, the preoopen was bad, but the fact that it leveled off almost immediately after the open means the big players aren't banking on any serious problems. In fact, all signs in institutional trading point to a strengthening recovery, a continued trend of the strengthening dollar, and a strong market in the year ahead. Seeing as that's the opposite of what "Joe Public" believes, that's what I'm assuming myself is correct (as it usually is.) don't follow what millions of poor people think about the market - follow what the 9-digit + wealth folks think.

Technically, SP500 is overbought...
Many indicators are pointing that a correction is imminent!
I hope you have protected your positions if you are still in the market.

It's become a political and central bank game lately. Heck, they can move the market any direction they want right now. Same in Europe w the debt issue. I wonder if they are restricted to trade? If they're not they are probably making money out of this nonsense.

The media always seems to point to the US stock markets as though they are *the* indicator of economic vigor.

Currently the Dow is at the shoulder level about where it was back in May 2012. Unless the recent rally continues above the October high of 13600, we might be in a head and shoulders topping pattern?

Can't see them dragging their heels to solve the fiscal cliff issues into 2013 if there is a risk of a stock market collapse with that pattern in place. On the other hand resolving national debt issues usually strengthens the US dollar which conversely lowers stock prices.

If they could manipulate the market back above 13,600 before publishing any bad debt default, revenue cuts or tax increase news that would be a better time for a market correction..

Watch-out for the "fiscal cliff".
It could easily become the "Stock Market sell-off cliff... "
The financial 9/11...

Originally posted by AutOmatIc
Ah, now we're talking. This is the real world reality doom we should be paying attention to. I have a feeling that the dollar is about to crash, and crash hard. The world will then change as we know it. A new form of greater depression than we have ever seen is coming...

edit on 21-12-2012 by AutOmatIc because: typo

Actually a strong currency isnt always good for you. Many countries try to weaken their currency on purpose, to boost sales, to profit from a strong foreign currency. Think about it. In America the iPhone sells for 800, in Europe for 800 €. When those come back to the US its 1040, about double of what it cost to produce, only because it sold in Europe.