Stock market on fire

[Provincial]

Today the:
Dow dropped 3.94%, or 1,276.37
S&P 500 dropped 4.32%, or 177.72
NASDAQ dropped 5.16%, or 632.84

I think the stock market has awakened!

 

[ma96782]

Nearly 20% of Congress trades stocks that present conflicts of interest: report

Between 2019 and 2021, 97 US senators and congress members or their immediate family made financial transactions in which they may have had access to inside information, the New York Times reported…

nypost.com

MSN

www.msn.com

Aloha, Mark

 

[sobo]

Nearly 20% of Congress trades stocks that present conflicts of interest: report

Between 2019 and 2021, 97 US senators and congress members or their immediate family made financial transactions in which they may have had access to inside information, the New York Times reported…

nypost.com

MSN

www.msn.com

Aloha, Mark

Wow... the NYT is hot on the trail with their breathless "reporting" of possible Congressional corruption and personal enrichment...
It's almost as if We The People didn't already know how CongressCritters enter the institution as paupers and leave as millionaires...

 

[ma96782]

As for the market.....well, it went up a little bit today. 09-14-2022

DOW closed 31,135.08 up 30.12
S&P closed 3,946.01 up 13.32
NASDAQ closed 11,719.67 up 86.10

That's a relief (for now at least).

RE : Post #1,463



Just something to think about.

Aloha, Mark

PS..............

 

[ma96782]

Only now????

The DOJ Targets Individual Executives: Be Prepared

Some believe the DOJ is just blowing smoke with its new guidelines targeting individual executives. Others foresee a world of pain, with new liabilities and tough choices for corporations and employees alike.

www.forbes.com

Yeah.....I can think of many BANKs that should have had their people go to prison.

Aloha, Mark

 

[bolus]

What's up today in the world of financial corruption?

Credit Swisse forgets to mark some 48 billion transactions as short sales. Gets fined $200,000. The equivalent of me stealing my annual salary and getting a fine of <$1.

https://www.finra.org/sites/default/files/fda_documents/2016048687501%20Credit%20Suisse%20Securities%20%28USA%29%20LLC%20CRD%20%20816%20AWC%20gg%20%282022-1657498802816%29.pdf

Barclay's sold $17.7 billion in securities it did not own to and investors managed to get $7 billion back.

Barclays: $7 bln worth of securities sold in error have been claimed

Barclays said investors have submitted claims for $7 billion out of $17.7 billion worth of securities it sold in error, under the terms of a so-called rescission offer by which the bank had to buy back the notes and compensate buyers.

www.reuters.com

no fine, but they had to buy them back and that cost them $667 million in profit. But dont worry, they knew what they were doing and "costs of fixing the mistake were somewhat mitigated by hedges the bank put in place against such costs."

See? you do something illegal like sell stuff you dont own. Since you know it is illegal, you hedge against getting caught as to not suffer.

 

[ma96782]

Frustrated with China?

Well, it's not only you. Boeing (stock symbol: BA) is also feeling the pinch. The planes are ready......however, it's not likely to be delivered anytime soon.

Imagine/maybe......it was all a part of the plan to break BA?

Boeing news - Yahoo Video Search Results

The search engine that helps you find exactly what you're looking for. Find the most relevant information, video, images, and answers from all across the Web.

video.search.yahoo.com

Results are that.....so far today (9-16-2022) BA is down 4.4%. And the DOW is down 386 (1.26%).

Aloha, Mark

PS......Maybe the Chinese are waiting for their own product to get up to speed?

China Unveils Its First National Passenger Aircraft—Rivaling Airbus and Boeing

With aims to reduce China’s dependency on foreign technology, the People’s Republic has unveiled Comac, its debut passenger jet

www.architecturaldigest.com

 

[ma96782]

Also today. 9-16-2022. Yeah..... remember that thread about delivering gun parts? FedEx News.

MSN

www.msn.com

Aloha, Mark

 

[Provincial]

Also today. 9-16-2022. Yeah..... remember that thread about delivering gun parts? FedEx News.

MSN

www.msn.com

Aloha, Mark

They don't knowingly get any business from me now, and certainly not in the future.

Go Woke, Go Broke!

 

[bolus]

The fed stopped buying mortgage-backed securities today. (uh, why is the fed buying MBS's with money they print? wouldnt that just cause a huge bubble with sky high house prices?)

lets see, how much do they own now?

$2.7 trillion

Weird that BOA just started offering zero down, zero closing fees, no credit check mortgages

Anyone want to predict what will happen?

 

[USMC1911]

I have a feeling were going to see a retrace of the 52 week SPY low before we see 400 again.

 

[The Heretic]

 

[USMC1911]

Brutal end of the day action.

 

[CountryGent]

Mother of God. The good news just keeps rolling.

 

[USMC1911]

Another brutal selloff the last 15 minutes of the day. Hard to trade without any real momentum in one direction.

 

[bolus]

Australian central bank is bankrupt.....

oh wait, it can just print more money. Whew that was close!

Australia's central bank has equity wiped out by billions in bond losses

Bullock noted that while this would bankrupt a normal commercial entity, the RBA's liabilities are guaranteed by the government.

www.cnbc.com

 

[The Heretic]

Another brutal selloff the last 15 minutes of the day. Hard to trade without any real momentum in one direction.

I would think if you are quick on your feet (i.e., have the right software), the volatility would be great for day traders?

Not so much for me though - EDJ is very slow with moving 4 around. I am down about $100K on paper.

 

[USMC1911]

I would think if you are quick on your feet (i.e., have the right software), the volatility would be great for day traders?

Not so much for me though - EDJ is very slow with moving 4 around. I am down about $100K on paper.

Can be. I like a bit more momentum in one direction. A gradual climb and a sudden dump eats premium very fast and you have to be incredibly quick and decisive. Unless you are just literally sitting and watching its really tuff. Looks like the retest of the 52 week low here. If it holds we could see some upward movement. If not look out for a S&P 350 level magnet imo.

 

[mrblond]

 

[ma96782]

Well.....it was a LOT MORE than that.

Aloha, Mark