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The "up-to-the-minute Market Data" thread

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posted on Mar, 30 2009 @ 12:41 PM
reply to post by pluckynoonez

It's like a bad B movie isn't it? We are all standing in front of the train and we are all screaming, but we take a break from screaming shoot the crap for a little bit then go back to screaming.

To bad its real life.


Ireland Loses AAA rating

Ireland had its AAA credit rating removed by Standard & Poor's in the fourth downgrade of a euro- region government this year as the global financial turmoil fueled borrowing costs and swelled the budget deficit.

The rating was lowered one step to AA+ with a "negative" outlook, S&P said in a statement today from London, indicating the rating company is more likely to lower the classification again than raise it or leave it unchanged. Ireland received the top rating in October 2001.

"The deterioration of Ireland's public finances will likely require a number of years of sustained effort to repair, on a scale greater than factored into the government's current plans," Trevor Cullinan and Frank Gill, analysts at S&P in London, wrote in a report today.

Euro-region governments are increasing borrowing to bolster ailing economies and bail out banks reeling amid the fallout from the global credit crisis. S&P lowered the ratings of Spain, Portugal and Greece in January. The European Commission forecast in January that Ireland's budget deficit may widen to 11 percent of gross domestic product this year, almost four times the European Union's approved limit.

The cost of protecting Irish government bonds from default rose 31 basis points to 252, according to CMA DataVision prices for credit-default swaps.

'Modest Growth Prospects'

The difference in yield, or spread, between Irish 10-year bonds and equivalent German securities widened six basis points to 235 basis points. Trading in Irish debt closed before the S&P statement.

"The ratings on Ireland could be lowered again if the public finances weaken substantially further than what we currently assume," said Ciaran O'Hagan, head of fixed-income strategy in Paris at Societe Generale. "The outlook could be revised to stable if the government embraces a fiscal strategy that contains a rise in the public debt burden in line with Ireland's modest economic growth prospects."

[edit on 30-3-2009 by Hastobemoretolife]

posted on Mar, 30 2009 @ 12:46 PM
reply to post by Hastobemoretolife

No doubt. The market is tanking today, as it did in previous days, and then it is up and down like some cheap porno.

Whatever happened to a good cataclysm, those usually happened quick.

Some say the end is near. Some say well see armageddon soon. I certainly hope we will. I sure could use a vacation from this....

posted on Mar, 30 2009 @ 12:46 PM
reply to post by pluckynoonez

Before anyone is tempted to savage Miss Noonez for the above comment, I suspect this is what she means: the meltdown has been going on and on for so long the length of time it is taking to see the outcome is itself causing some people as much if not more stress than the financial losses and chaos.

I think plucky's frank admission is liable to be misinterpreted as schadenfreude, but not so.

posted on Mar, 30 2009 @ 12:51 PM
reply to post by pause4thought

I do not know what a "schadenfreude" is, but, yes, you are correct. Watching a slow train wreck for months, months, months, and months is tiring. If the whole thing is going to crash, crash already. I have a shelter in place...well, not really, but I will find one.

posted on Mar, 30 2009 @ 12:58 PM
reply to post by pluckynoonez

Sorry plucky. It's quite a fun word & I like to throw such things in now & then as we have such a beautiful language with untold depth and power.


posted on Mar, 30 2009 @ 01:05 PM
DJ INDUSTR AVERAGE 7,473.36 2:02pm ET Down 302.82 (3.89%)
NASDAQ Composite 1,491.70 2:03pm ET Down 53.50 (3.46%)
S&P 500 INDEX,RTH 783.12 2:03pm ET Down 32.82 (4.02%)

Today's Fun Market Fact -
There is a publicly traded strip club on the Nasdaq. The name of this strip club is "Ricks Cabaret".

posted on Mar, 30 2009 @ 01:05 PM
reply to post by pause4thought

Oh, I thought it was German or something.

Markets are currently losing 4% of their worth. Stop-action train wreck in progress, a slide show, as it were.

posted on Mar, 30 2009 @ 01:21 PM
reply to post by pluckynoonez

I hear ya - just like bad sex, take it hard and fast & be done with it so you can go clean up

This stuff is a slow, neverending nightmare and I'm sick of it too

posted on Mar, 30 2009 @ 01:28 PM
reply to post by pluckynoonez

I LIKE the analogy plucky and think it really says it well.

I'd also add that it's a LOT like sex with no good end in sight...counting those ceiling tiles anyone?

End result of this mess will still be a mess.

posted on Mar, 30 2009 @ 01:29 PM
reply to post by pluckynoonez

You're quite right - it's a German loan-word, but enjoys a somewhat neglected place in this exquisite language of ours.

You've given me an idea. I've just started a thread for any fellow language-lovers:

Word of the Day!

Back on topic: thanks to hastobe & redhatty et al. for posting the eye-popping market figures!!

I'll be back with some graphs in a few minutes...

posted on Mar, 30 2009 @ 01:38 PM
reply to post by pluckynoonez

You'll get your wish soon enough, at least as soon as this government realizes it has wasted trillions of dollars in a pathetic attempt to re-inflate a balloon with many holes still in it.

posted on Mar, 30 2009 @ 01:50 PM
S & P SPDR ETF (NYSE: SPY) To Retrace Recent Gains

The S & P SPDR ETF (NYSE: SPY) will likely test the support area near 80 in the short term:

"The S & P 500 has support near the 780-800 area, which corresponds to the 78-80 area for SPY. And if market action, as predicted by the U.S. stock index futures holds up, the support band will likely be tested today.

Why now? Well no one ever knows, precisely why markets do what they do. But certainly external factors are important. And the political shifts that are ongoing around the world are increasingly influential. Add to them the recent rally in which the markets added a nifty 20 plus percent in a few weeks, and you get the perfoct excuse for some profit taking.

What's important, from an investment standpoint, is to be n the right side of the equation, which means that paying attention to sell stops, as well as protecting profits and considering selling the market short if you are an experienced trader.

In a market such as this, there is no substitute for having and executing a trading plan, devoid of emotion, with the major goal being the preservation of capital."

Just wanted to add a bit of decoration to today's posts!

posted on Mar, 30 2009 @ 01:52 PM
This is rather long and I hope not too...I think it's a good description of where we're heading and wanted to share with y'all:

It's Show Time For Mr. Obama

by Dr Joe Duarte
March 30, 2009

Tough Week Ahead For The Markets
As president Obama heads for the G-20 meeting in London, one thing is clear, this will be a tough gathering of world leaders as ideological, philosophical, and economic techtonic shifts seem ready to reach points of maximum stress.

It was supposed to be a meeting where world leaders agreed on more stimulus and figured out ways to improve the world economy. But if weekend reports are correct, this will be a very contentious affair with the potential to rattle the markets, and in the longer term to cause more problems, especially a rise in protectionism.

Perhaps the current feeling in the global community is best encapsulated in a New York Times editorial by Nobel Prize winning economist Paul Krugman who, on March 5th noted: " among people I talk to there’s a growing sense of frustration, even panic, over Mr. Obama’s failure to match his words with deeds. The reality is that when it comes to dealing with the banks, the Obama administration is dithering. Policy is stuck in a holding pattern."

Krugman added: "Here’s how the pattern works: first, administration officials, usually speaking off the record, float a plan for rescuing the banks in the press. This trial balloon is quickly shot down by informed commentators. Then, a few weeks later, the administration floats a new plan. This plan is, however, just a thinly disguised version of the previous plan, a fact quickly realized by all concerned. And the cycle starts again."

In other words, as Krugman noted, nearly a month ago, little progress was made. And now, as the White House has finally made its move on General Motors, the markets seem to be taking it a sign of worse things to come.

But, that's not all there is to it. Krugman points out something more, the centerpiece of the bad policy initiatives as 'top officials in the Obama administration and at the Federal Reserve have convinced themselves that troubled assets, often referred to these days as “toxic waste,” are really worth much more than anyone is actually willing to pay for them — and that if these assets were properly priced, all our troubles would go away.'

It's almost as if you wish for something long enough it will happen, without you actually doing something to make it happen. But by talking about it so much, you actually get people believing it. And when the pie in the sky scheme falls apart, the fall is harder than if you saw things as they were and took your pain up front, while actually coming up with a workable solution from which to improve things in the future.

As Krugman correctly pointed out in early March, with regard to the Geithner bank rescue plan: "by using taxpayer funds to subsidize the prices of toxic waste, the administration would shower benefits on everyone who made the mistake of buying the stuff. Some of those benefits would trickle down to where they’re needed, shoring up the balance sheets of key financial institutions. But most of the benefit would go to people who don’t need or deserve to be rescued."

And his conclusion: "officials still aren’t willing to face the facts. They don’t want to face up to the dire state of major financial institutions," in our opinion, is dead on.

In fact, we think that it's been Krugman's constant harping on how much bad policy is coming out of Washington these days that has led to a turn in the views of European leaders, such as Angela Merkel with regard to spending more money on stimulus plans and bailouts, as well as the controversial remarks made by Brazilian president Lula da Silva last week, where he blamed the world's economic meltdown on men with "blue eyes and white skin."

Now, Krugman has turned it on even more. In today's op-ed piece for the New York Times, titled "America Tarnished," he alludes to the fall from grace of former Treasury Secretary Robert Rubin and former Federal Reserve Chairman Alan Greenspan, as a symbol of what's happened to America, as it too has fallen from grace. Aside from lamenting on the dynamic duo's fall from grace, Krugman refers to America as "the Bernie Madoff of economies," notig that "for many years it was held in respect, even awe, but it turns out to have been a fraud all along."

But he's not just blaming America, as he notes: " in fairness we have to say that the United States was far from being the only nation in which banks ran wild. Many European leaders are still in denial about the continent’s economic and financial troubles, which arguably run as deep as our own — although their nations’ much stronger social safety nets mean that we’re likely to experience far more human suffering. Still, it’s a fact that the crisis has cost America much of its credibility, and with it much of its ability to lead," ominously adding, "And that’s a very bad thing."


TO be sure, Krugman has his own views, and many are centered along leftist leanings. Yet, he does make several points that are true. And he has been consistent in his criticism of the current administration, which he backed in the election.

But, what Mr. Krugman and the White House have been ignoring is something at the macro level that Sarkar described in his seminal writings, where he described "Social Determinism."

As that theory is applied to economics, there are four stages in the social cycle, the laborer stage, the military stage, the intellectual stage, and the acquisitor stage. It is the latter that is most important at the moment.

When acquisitors, those people whose personality and behavior is all about the accumulation of wealth, are in control of the society, money is the ruling dynamic in the culture. And as long as everyone is participating, things go well. Think back to the 1980s and much of the 1990s. Everyone was participating.

Yet, as an acquisitor stage matures, wealth disparity develops, with the rich being so rich at its peak that the poor will never be able to catch up. It's at that time when the rich are increasingly rich, and the poor are irretrievably poor, that bubbles burst.

When the bubble bursts, markets crash, people lose jobs, and wealth evaporates. So what follows? A laborer stage, where disorder rules, and where lawlessness and crime are prevalent. Eventually, a military stage follows, where governments crack down, personal freedoms are lost, and some sort of order returns.

Some societies don't move beyond these stages. Look at Iraq where laborer and military stages seem to follow one another. Other countries do progress, as the U.S. did after the Great Depression.

What's the bottom line? We are in the middle stages of the transition between an acquisitor stage and something else. It's that something else that could change all of our lives forever, whether we lean left, right, or don't lean at all.


posted on Mar, 30 2009 @ 02:01 PM

Originally posted by pause4thought
reply to post by pluckynoonez

Before anyone is tempted to savage Miss Noonez for the above comment, I suspect this is what she means: the meltdown has been going on and on for so long the length of time it is taking to see the outcome is itself causing some people as much if not more stress than the financial losses and chaos.

I know exactly what my friend Plucky means by her comments; and she is not alone. If there was a legitimate possibility that the recent upward turn of the stock market could be signaling the beginning of a turnaround, that would be one thing. Sadly, I don't know anyone who believes that.

So, wherever we are heading, let's just get there, shall we? We have no choice but to pick up the pieces once we crash, so let's get on with that.

Plus if I get any more stressed I may not be capable of having panic sex

posted on Mar, 30 2009 @ 02:11 PM
reply to post by projectvxn

Plus do not forget that most of that spending is going out of the hands of the consumer and in to the hands of our biggest importers.

So we end on the losing end no matter what.

Until America learns to produce more than we consumer we are nothing but losers.

posted on Mar, 30 2009 @ 02:16 PM
reply to post by Rockpuck

Yes you are correct, the money is going a bit at a time, but eventually it will catch up.

The Fed and the Treasury have about 6 trillion dollars to play with so far since the year started after all.

That will cause inflation, it may not be now, or at the end of the year, but its coming.

posted on Mar, 30 2009 @ 02:23 PM
I think we all feel the same way.
Just under 40 minutes to go today kids...
I cannot believe the fast talking spin the thespians at CNBC are spewing right now about how things are not as bad as the markets say...."No, Really, things look bright...."

And its painfully obvious that not even they believe what they're saying.
I'll truly miss you all when its all over.
My signature says it all

posted on Mar, 30 2009 @ 02:33 PM
All participants on this page are eligible for a year's free supply of Prozac.

Here's the latest:

DJIA: down 301.79 (-3.88%)

FTSE (at close): down 135.94 (-3.49%)


Sorry for the delay, had to attend to something. Posted these ASAP, before reading the last hour's posts (- not ignoring them!)

[edit on 30/3/09 by pause4thought]

posted on Mar, 30 2009 @ 02:39 PM
reply to post by pause4thought

Is OK, pause, see the dow still over the biggest gain for the month and we are still peachy!!!!!!!!!! the markets has found its bottom.

I think I am losing my mind.

posted on Mar, 30 2009 @ 03:11 PM
Todays wrap-up...
Gold $916.85
Oil $48.56
VIX 45.67 4.63 11.28% 16:03
EUR-USD 1.3186 -0.0104 -0.79% 15:53
GBP-USD 1.4248 -0.0072 -0.50% 15:53
USD-JPY 97.1840 -0.6865 -0.70% 15:53
World 824.69 -2.00% 9.83% -10.38%
Banks 26.16 -3.00 -10.29% 16:03
Broker Dealer 74.06 -6.09 -7.60% 16:04
Insurance 2841.53 -77.53 -2.66% 16:04
Retailers 291.13 -5.75 -1.94% 16:04
30Y T-Bond 128.55 -0.03 -0.02% 03/27
30Y T-Bond Yld 36.02 -0.16 -0.44% 14:59
10Y T-Bond Yld 27.14 -0.47 -1.70% 14:59
5Y T-Bond Yld 17.27 -0.72 -4.00% 14:59
3M T-Bill Dscnt 1.20 -0.05 -4.00% 14:59
CBOE Optn P/C 1.14 0.22 23.91% 16:04
United States 7522.02 -254.16 -3.27% 16:02
NASDAQ 1501.80 -43.40 -2.81% 16:04
Rus 2000 416.01 -12.99 -3.03% 16:03
S&P 500 787.54 -28.40 -3.48% 16:03
Gold & Silver 133.27 -2.87 -2.11% 15:49
PreMetals 268.59 -4.58 -1.68% 16:00
Gold GOX 158.85 -2.89 -1.79% 16:03
Gold Bugs 319.96 -5.43 -1.67% 16:03
AMEX Energy 428.88 -16.97 -3.81% 16:03
NYSE Energy 8418.99 -343.97 -3.92% 16:03
Oil Services 125.66 -6.51 -4.92% 15:49
AMEX Oil 848.82 -34.39 -3.89% 16:03
PHLX Semi. 228.68 -11.39 -4.74% 15:49
NASDAQ Fin. 1541.51 -71.37 -4.42% 16:04
NYSE Finance 2722.82 -230.90 -7.82% 16:03
NBI 681.97 -7.95 -1.15% 16:04
AMEX BioTec 638.48 -11.51 -1.77% 16:03
PHLX Drug 142.56 -0.70 -0.49% 15:49
Canada 8540.86 -280.20 -3.18% 16:04
Brazil 40541.28 -1366.01 -3.26% 16:49
Mexico 19472.61 -842.56 -4.15% 14:44
Argentina 1120.30 -44.97 -3.86% 16:43
Chile 2494.36 -53.39 -2.10% 17:04
Peru 8891.38 -445.81 -4.78% 14:42
Colombia 7928.02 -83.85 -1.05% 13:00
Venezuela 43674.30 182.49 0.42% 14:30
Bermuda 2382.59 0.00 0.00% 03/27
Jamaica 79101.62 -184.25 -0.23% 13:57
Russia 682.91 -38.25 -5.30% 03/30
London 3762.91 -135.94 -3.49% 16:35
Paris 2719.34 -121.28 -4.27% 18:11
Frankfurt 3989.23 -214.32 -5.10% 19:41
Turkey 25143.61 -553.64 -2.15% 17:07
Hungary 10893.38 -284.92 -2.55% 16:36
Austria 1620.54 -70.33 -4.16% 17:36
Poland 23980.08 -832.89 -3.36% 16:40
Czech 745.10 -42.60 -5.41% 17:40
Sweden 633.09 -22.50 -3.43% 17:44
Finland 4501.54 -207.64 -4.41% 18:31
Norway 198.76 -10.21 -4.88% 17:25
Greece 1629.68 -42.12 -2.52% 17:19
Italy 12420.00 -696.00 -5.31% 17:51
Luxembourg 870.58 -23.12 -2.59% 17:40
Netherlands 211.11 -10.62 -4.79% 18:06
Iceland 215.32 -0.16 -0.07% 16:40
Denmark 227.89 -4.61 -1.98% 17:21
Switzerland 4745.76 -126.57 -2.60% 17:31
Spain 798.13 -34.28 -4.12% 17:39
Portugal 2037.97 -18.14 -0.88% 17:08
Ireland 2129.35 -37.46 -1.73% 17:10
Israel 721.52 -26.40 -3.53% 15:25
Egypt 405.16 -7.76 -1.88% 15:54
S. Africa 18008.50 -711.20 -3.80% 17:00
Morocco 22041.95 -123.48 -0.56% 03/30
Jordan 2709.77 -11.71 -0.43% 13:59
UAE Dubai 1578.39 -26.32 -1.64% 13:58
New Zealand 2641.99 -11.49 -0.43% 17:31
Australia 3554.20 -61.40 -1.70% 16:47
Nikkei 225 8236.08 -390.89 -4.53% 16:00
TOPIX 789.54 -34.99 -4.24% 15:00
TSE 2nd Sec 1831.39 -14.37 -0.78% 15:00
JASDAQ 41.14 -0.19 -0.46% 15:00
Korea 1197.46 -40.05 -3.24% 18:04
Taiwan 5206.05 -184.65 -3.43% 13:46
Taiwan OTC 79.43 -2.48 -3.03% 13:46
Shanghai 2358.04 -16.40 -0.69% 15:14
Shanghai A 2474.86 -17.41 -0.70% 15:14
Shanghai B 158.92 1.95 1.24% 15:14
Shenzhen A 818.24 -1.15 -0.14% 15:00
Shenzhen B 349.30 -2.18 -0.62% 15:00
SHSZ 300 2484.49 -14.44 -0.58% 15:00
Shenzhen comp 8910.42 -83.73 -0.93% 15:00
Hong Kong 13456.33 -663.17 -4.70% 16:01
HK CN Ent 7900.09 -581.13 -6.85% 16:01
HK Aff Crp 3077.49 -132.44 -4.13% 16:01
Singapore 1673.14 -72.52 -4.15% 17:10
SGX China 50.26 -2.93 -5.51% 03/30
Vietnam 282.38 -5.03 -1.75% 11:01
Thailand 429.60 -11.21 -2.54% 16:59
Philippines 2023.11 -17.14 -0.84% 12:11
Malaysia 869.34 -16.09 -1.82% 19:21
Indonesia 1419.09 -43.65 -2.98% 16:00
India 9568.14 -480.35 -4.78% 15:58
Pakistan 5032.40 279.06 5.87% 15:04

[edit on 3/30/2009 by Hx3_1963]

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