Nasdaq Just Plummeted And Everyone's Asking The Same Question

I do not want to be doomsayer or something, headline is copied from the article in Huffingtonpost.

The stock market got completely kerslammered on Thursday, and the kerslammering might not be done.

The punishment started on the Nasdaq, which sank 3.1 percent, its worst day since November 2011. The selloff metastasized and took down the Dow Jones Industrial Average, which fell 1.6 percent, and the Standard & Poor's 500-stock index, which fell 2.1 percent.

There's been lots of yammering in the market for a while now about how tech stocks are in a bubble that is due for bursting, and we could be witnessing the start of that.

www.huffingtonpost.com...
www.usatoday.com...
www.usatoday.com...

Personally, I do believe sooner or later some serious correction has to come, there is just no other way. Compared to the general economic situation around the world, where unemployment rates are still reasonably high and salaries have not reached previous hights, stock markets are doing just too well. Whether there is something to fear about this particular plummet or not, hard to say. Maybe it is just a bad day, maybe not, but generally looking at the situation right now, investors are quite on edge.

The only reason they have increased since 2008 is because of profits. Wall street doesn't need people employed to see profits. Raise the price, lay off the people who buy the products and when the laid off people can't buy the product to produce the profit, what you see is what you get...greedy #%#@!$

burn down the system.....

is the first thing that came to mind

Some big fund manager decided to do some profit-taking, and like the mindless lemmings they are, the rest followed.

Speculative markets should be illegal. There is no way someone like Mark Zuckerberg should be worth billions from some vaporware product.

reply to post by Cabin


There have certainly been many who have predicted the stock market is due a major reset. Harry Dent said he figured it will start this year and by 2016 the reset will be down to 5 or 6000 ! Nothing much good afterwards until 2019... I hope all the doomsayers are way way off... but just our luck they may be on to something, I do not know that's for sure...

I have been tempted more than once to pull all my retirement out of all funds and just let the monetary value sit... My investment banker almost vapor locks when I mention that... He assures me I am positioned and covered in any eventually.. He probably is correct with regards to past history but we may have entered into a "Twilight Zone" where time and space have changed and past investment rules do not apply ?

Could this the beginning of that 90% correction? Warren got out of there early.

What are you talking about? Cnn is showing it at +5.77....how is that a plummet?

Oh that was yesterday. I wouldn't call 3% a plummet by any means.

I wouldn't worry till you see a drop of 15-30%+ JMO

reply to post by Cabin


As long as the Fed continues to pump 85 billion into the market every month (Quantitative Easement) the market will continue to give the illusion that it is doing okay.

I figure that if republicans take over the senate this year, Obama will signal the Fed to stop pumping billions into the market, it will crash, then he and the dems can blame the GOP!

beezzer
reply to post by Cabin

 

I figure that if republicans take over the senate this year, Obama will signal the Fed to stop pumping billions into the market, it will crash, then he and the dems can blame the GOP!

OHh you mean the backup plan? House Of Cuts

I can totally see that come to pass.

727Sky
reply to post by Cabin

 

Harry Dent said he figured it will start this year and by 2016 the reset will be down to 5 or 6000

I have been tempted more than once to pull all my retirement out of all funds and just let the monetary value sit

I've heard as low as 3 or 4, unless someone takes Obama out ... but that just sounded mean. Then again, he seems very willing to play Nero's fiddle, doesn't he? I don't see the Republicans (think Paul Ryan) worrying about it in a way that will affect you or me positively.

Word to the wise: What happens to your retirement savings is ultimately your decision. You lose your nest ... you lose your nest. Nothing's really safe right now, but there are better risks than others. Whatever you do ... don't buy gold @ 1350.

beezzer
reply to post by Cabin

 

As long as the Fed continues to pump 85 billion into the market every month (Quantitative Easement) the market will continue to give the illusion that it is doing okay.

I figure that if republicans take over the senate this year, Obama will signal the Fed to stop pumping billions into the market, it will crash, then he and the dems can blame the GOP!

When did the president start controlling the Fed Reserve? Quantitative Easement is done by the central banks on their own the president has nothing to do with it.

buster2010

beezzer
reply to post by Cabin

 

As long as the Fed continues to pump 85 billion into the market every month (Quantitative Easement) the market will continue to give the illusion that it is doing okay.

I figure that if republicans take over the senate this year, Obama will signal the Fed to stop pumping billions into the market, it will crash, then he and the dems can blame the GOP!

When did the president start controlling the Fed Reserve? Quantitative Easement is done by the central banks on their own the president has nothing to do with it.

Yeah, and the IRS is "neutral" as well.

reply to post by Cabin


Dow1985 = (x1 + x2 +..+x30) / 1

Dow2014 = (x1 + x2 +.. + x30) / 0.15571590501117

The number of points/index that the Dow Jones gives now does not accurately reflect the economy in comparison to past living conditions. The number of people that use food stamps is a realistic economic index.

reply to post by buster2010


How dare you correct partisan mudslinging with facts!!