Anyone viewing the current bloodbath in the global markets?

What should I do? Cant someone give me some good mmediate action advice?

and I mean something like what should I do RIGHT NOW?

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Like... Stop drop and roll?

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sorry for the troll... This is important stuff... I need to pay attention...
 
Did we just blow our 150+ gain in <20minutes after the Fed spoke?*nvm, I guess we are going back up
 
Originally Posted by LazyJ10

Can't use "sharply downgraded" in your Fed minutes apparently
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I'm in class watching my cnbc app so was curious what actually happened. I hate when the govt talks; it's never good for the market.
 
I haven't read the actual minutes, the quotes were from WSJ during their breaking news flash.
 
Don't want to care but I know this will make it harder for us to live and obtain work.
 
Im down 9% right now YTD on my 401K, im not going to pull out, just gonna ride it out and see what happens. Im not retiring any time soon so it is what it is...
 
Originally Posted by finnns2003

Originally Posted by kix4kix

Market is not made for short term.
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It's made for suckers it seems.
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.. Anyone who shorted SPY in the last few days should be eating Lobster and drinking the finest of wines for the rest of the year 
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Let's see what the idiots in charge will do next  
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I'm willing to wager that there weren't a ton of shares at discount brokers available to borrow to short.

Further, if you shorted on Friday you probably had to cover on Tuesday. Same if you got in on Monday, you better had closed that position by end of trading.

My guess is a lot of hedge funds, large clients, etc are getting hammered on margin calls and thereby Brokers are flooding with sells, too.
 
Originally Posted by papeshfoo

Im down 9% right now YTD on my 401K, im not going to pull out, just gonna ride it out and see what happens. Im not retiring any time soon so it is what it is...
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That doesn't mean you can't get out and buy back in lower.  Why hold from 10,700 all the way down to near 9,000.  Just buy back in when we have an up week based on better economic news. 
 
Originally Posted by LazyJ10

I'm willing to wager that there weren't a ton of shares at discount brokers available to borrow to short.

Further, if you shorted on Friday you probably had to cover on Tuesday. Same if you got in on Monday, you better had closed that position by end of trading.

My guess is a lot of hedge funds, large clients, etc are getting hammered on margin calls and thereby Brokers are flooding with sells, too.
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Your portfolio been okay man?
 
Originally Posted by LazyJ10

I'm willing to wager that there weren't a ton of shares at discount brokers available to borrow to short.

Further, if you shorted on Friday you probably had to cover on Tuesday. Same if you got in on Monday, you better had closed that position by end of trading.

My guess is a lot of hedge funds, large clients, etc are getting hammered on margin calls and thereby Brokers are flooding with sells, too.
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I got screwed Tuesday.  I bought some SDS puts and had to sell them.  I lost about $300 in one hour.  I plan to buy them back though, just waiting for the S&P to be up about 1.5% to near 1130ish tomorrow or Friday and then I will buy them back and ride these babies down to 1050 at least.
 
Ok is a relative term Finns
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I'm still up on the year, 9% or so. I bought into a Gold ETF and a Gold Resource company to help protect my gains. Also got into GOOG earlier in the year too. My S&P and Russell 2000 ETFs have given back 3/4 of my return. It sucks to go from 33% and 30%, respectively, to 12% and 5%. I got time on my side, I'm not worried. My cost basis is strong on my ETFs.
 
I'm sitting cash right now, and not doing much trading other than some inverse ETFs. Stay smart, be conservative, and play tight stops if you must, but it's probably best to wait this out. Good luck to everyone amongst all this craziness.

Of course everyone should be keeping an unblinking eye on the Euro financial contagion. As one fed insider noted, "If Italy goes, God help us all."


Indicators suggest that the global economy is already in the midst of a double dip:

http://www.robertsinn.com...ble-dip-is-already-here/
 
WHen you take in consideration the run up from the lows of '08, this is kind of normal in a sense.


The sell off is rather quick in terms of the time frame but that's what happens when even HF's were overweight long positions.
 
Above - Wouldn't the IMF step in to ensure Italy remains solvent?

Waw x5- Plus depends on how much was done on margin.....who was it getting ripped by BAC? Paulson I think?

F BofA, hope they go to $1.02 per share.
 
Originally Posted by rashi

Can't knock George Soros' hustle.


[h1][/h1]
[h1]Who 'made $10bn on 10/1 bet that U.S. credit rating would be downgraded'?
[/h1]
  • Unknown investor or hedge fund 'made $850million bet'
  • Bet in futures market reportedly done at odds of 10/1
  • George Soros made similar bet on currency in 1992
  • But source says he wasn't involved in rumoured trade

A mystery investor or hedge fund reportedly made a bet of almost $1billion at odds of 10/1 last month that the U.S. would lose its AAA credit rating.

Now questions are being asked of whether the trader had inside information before placing the $850million bet in the futures market.

There were mounting rumours that investor George Soros, 80, famously known as ‘the man who broke the Bank of England’, could be involved.

He made more than $1billion on currency speculation when the British pound left the Exchange Rate Mechanism on Black Wednesday in 1992.

But a source with knowledge of the firm said Soros was not involved in the rumoured trade and questioned whether in fact there had been such a trade at all.


The latest bet was made on July 21 on trades of 5,370 ten-year Treasury futures and 3,100 Treasury bond futures, reported ETF Daily News.

Now the investor's gamble seems to have paid off after Standard and Poor’s issued a credit rating downgrade from AAA to AA+ last Friday.

Whoever it is stands to earn a 1,000 per cent return on their money, with the expectation that interest rates will be going up after the downgrade.


The link has been made to Mr Soros in part because he has been tied to President Obama’s administration since 2008, reported The Examiner.

He also recently stopped managing money for outside investors, meaning he is under less scrutiny from the Securities and Exchange Commision

But the mystery bet could easily have been made by another trader with similar resources, despite Mr Soros’s links with the Obama administration.

The bet also raises questions of whether President Obama and Treasury Secretary Timothy Geithner knew that a downgrade was on the cards.

Mr Geithner said in April there was ‘no risk’ of a downgrade - but the government now appears annoyed, not surprised, by last week’s decision.

He has since slammed S&P for showing 'terrible judgment' in their decision and a 'stunning lack of knowledge' of U.S. fiscal budget maths.

Read more: http://www.dailymail.co.uk/news/art...US-credit-rating-downgrade.html#ixzz1UTtk1K5N
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It's just a game. Just. A. Game.


Except IR plummeted? 
You got the 10yr below 225 bps. 
 
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