DJIA Opened 480pts down DROPS 1000pts first 5 minutes of Trading

DJIA finished 470pts down today.



We are below the Oct '14 low again.



If we can't hold 16k, then the new floor would be perhaps 14,5, then 12,9. I would take a stab that if we are to drop a bit more this year, 14,5 would happen in fall, and 12,9-13,5 next year. Hopefully this doesn't come to be, yet more of a correction seems necessary.

Shanghai Composite first show down 4.4%

a reply to: pl3bscheese

How low is this getting? What do those numbers represent?

Peace

a reply to: InnerPeace2012

Hmm, well the numbers represent a value of traded A and B+ rating stocks in the Shanghai composite. This is not an accurate measure of economic activity, moreso a perception of things to come, else parasites gaming the creation of a perception. Depending on how modern the market, much activity is made by few players, yet much of the base comes from the majority common people. People are raped, fat cats tend towards dominating.

What does it mean? There's another thread on the volatility index made today. Overall what we're seeing in the physical world is automation just starting to take over real jobs, oil prices suffocating major players worldwide, and speculators learning the hard way. China has invested heavily in a gamble that they could push a perception of continued growth to sustain the real economic growth, but that seems to be backfiring.

It means this is likely more than a simple correction, and perhaps more of the beginning of game-changing to a system that is dislocating from the reality of humanities needs, in my big-picture assessment. That's longer term. In the short term, perhaps a downswing and continuation of the global depression. Or a new recession, depending on who's figures and which metrics you choose to weigh.

a reply to: pl3bscheese

I feel for anyone who is losing on this, well the regular folks not the fat cats that created and probably are manipulating this. Hope it bounces back for you all. Not too sure it will as the smoke and mirrors must clear sometime.