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

Well this should give some momentum to the already huge volume of stock
trades today.

Durden:

Goldman's Jan Hatzius has just killed his outlook for the remainder of the year, said there is a 33% chance of a recession and is now looking forward to some QE3 announcement next week. www.zerohedge.com...

Hatzius:

"As foreshadowed in recent publications, we have lowered our US real GDP growth forecast to 2% (annualized) through 2012Q1 and 2½% thereafter. We now see the unemployment rate edging up to 9¼% by the end of 2012, and see a one-in-three risk of renewed recession. On the monetary policy side, we expect no rate hikes or changes in the size of the Fed's balance sheet until 2013 or later; moreover, we now expect the FOMC to provide more guidance about the future size of its balance sheet at next week’s meeting."

Downgrade notes here : ransquawk.com...


Durden

Recall that 3 weeks after last year's such downgrade, we had a rather unpleasant announcement at Jackson Hole. Deja vu.... all over again.

www.zerohedge.com...

PPT FTW!!!!!



I have not seen volatility like this is a while, at least 2 years.. 300+ point swings. I'm not surprised though, especially given the jobs report. Though I would say the jobs report next month is likely to see a massive reduction of July as a "revision" simply because well ... they lied through their teeth.

But they usually do.. sooo...

business as usual I s'pose.

I'm not nervous yet because election are not ready or dressed up.
Wait a year and stuff will start to crumble then once Barry is fraudulently re elected stuff will go bad.
Obama will makes his contributors and himself rich over the ppl just for the tradition or continuity. lol

Then who ever that still have a job in 2016 will try to run for the white house, someone like Ron Paul, someone ppl trust for no reason. He will get elected but at this point its gonna be too late. America will unfortunately be long gone. A decade of depression is possible and its allready aiming that way.

Sure the numbers doesn't add up now but when 50% of the pop. won't work its gonna be hard to lie about it.

S&P downgrades farm lenders, government-backed debt issued by 32 banks and credit unions - AP

www.cnbc.com...

Dow down 300+
www.marketwatch.com...

The best part is that we could eliminate all the debt and interest owed to the fed and be in severely positive territory. But that would help the sheeple and we can't have that.

Originally posted by Rockpuck

I have not seen volatility like this is a while, at least 2 years..

Indeed. It's a perfect storm. The European Central Bank acting against its better judgement and starting to buy Italian and Spanish bonds (just till the promised, but far-from certain bailout a few weeks down the line)... China getting very jittery about levels of US debt...

What the markets as a whole (-and China-) want to see is concrete structural reform. And with prospects for growth barely visible in the Western world, tax reform doesn't fit the bill. Wide-ranging austerity measures are inevitable. Which is political dynamite.

Might a planned devaluation of both the Euro and the US dollar be the only other option?


(DJIA 11116.29 down 328.32 -2.87% FTSE at close 5068.95 down 178.04 -3.39)

Source

reply to post by pause4thought


Great to see you Pause4t!

Exchange's Volatility Index (VIX) rose some 25% to over 40, effectively doubling in value over the past week. VIX trading patterns continue to indicate investor expectations that the stock market will weaken further and VIX will rise above 42.50 before October.

The volatility of VIX, which is an important measure of the S&P 500 Index's perceived movements, suggests VIX should move 8.5% each day. That the VIX is up 25% near 40 shows just how panicked investors actually are as they react to the first-ever reduction of the U.S. credit rating to AA+ from AAA.online.barrons.com...

reply to post by burntheships


You too, bts! Encouraging to see enthusiastic punters in here, old & new.

In response to your quote above, I wonder what the reaction will be as this kind of news sinks in:

Standard & Poor's may downgrade the long-term credit rating of the U.S. once again in less than three months after sending shockwaves through the bond and stock markets by stripping the nation of its top notch triple-A rating last week, according to an emergency Sunday night conference call for clients of Bank of America Merrill Lynch.

"We do expect further downgrades," said Ethan Harris, North American economist, on the call. "We doubt the newly appointed bipartisan commission will come up with a credible long-term deficit reduction plan. Hence by November or December we would not be surprised to see S&P downgrade the debt again from AA-plus to AA..."

Source

It's going to be an interesting week.



FTSE month-to-view:

[atsimg]http://files.abovetopsecret.com/images/member/a7c9672142f9.png[/atsimg]

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DJIA month-to-view:

[atsimg]http://files.abovetopsecret.com/images/member/8a864ec360f3.png[/atsimg]

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christ WATER FALL pattern

down 590

puts pressure on Federal reserve to announce QE 3 this week. lowering gas prices also alleviate political pressure as well. this is the ONLY save for equity's i can think of....cept maybe another trillion stimulus from china

OMG...are y'all watching this unfold???? Ht down 600 point for a few seconds...can't breathe,LOL!
SO good to see a few of the "oldies" here....this is epic and happening very quickly!
Is there any kind of possible turn around with the F-up Fed geting in the mix tomorrow?
Wild ride doesn't begin to tell this tale...

I'm trading it.... gotta stay quick on the longs.....and exit-n-reverse with the patterns.
both the euro and the us devaluation will help?.....that's interesting according to my usd/chf long term observation. the Swiss.....their currency is way up......is that good for them?

Originally posted by irishchic
OMG...are y'all watching this unfold???? Ht down 600 point for a few seconds...can't breathe,LOL!
SO good to see a few of the "oldies" here....this is epic and happening very quickly!
Is there any kind of possible turn around with the F-up Fed geting in the mix tomorrow?
Wild ride doesn't begin to tell this tale...

say hello to QE3 tomorrow. The bernake will save the day and the sheeple will rally

reply to post by camaro68ss
that scenario will fit perfectly with the usual weekly carry trade shennanagens. i like!
that's where the big sovergn entity's make all their money....they try to hide this "carry trade".

This was planned and here is why:

NEW YORK (AP) -- The Dow fell below 11,000 and investors poured into Treasurys in the first trading day after Standard & Poor's downgraded American debt. finance.yahoo.com...

Gee they were having a hard time selling treasuries and now no problem... Is there any doubt the markets are manipulated and they have full control right down to the computer backbone all the indexes run on? I bet they have an algorithm and are just sitting back laughing at everyone jumping up and down... The only way to stop the non-sense would be for a majority to just pull out of the markets. But that will not happen anytime soon. It will crash when they say it will crash....

Just for the historical record:

10939.42 down 505.19 -4.41%

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*speechless*

Hey...you guys want some targets for the dow?...from harmonic elliott wave analysis.
that 12 648 was the predicted high....it stayed around forever. but, but......the pullback should be contained for a run up to.....this is just elliott waves mixed with fibo's and the new 3'rd wave interpretation ("C") wave , too......14 655, that's yes ...14,000 plus.....back where it was long ago

reply to post by GBP/JPY


The elliot wave is on drugs.

Well that was fun... made a lot of money...

Anyway, next technical level down 3.5%... and if it fails... down 18% or so till the next level... and then there's no resistance level....

Tomorrow will be nuts too... QE3... yes or no? Even if it's YES... has the market lost confidence in the US government/Bernanke? If yes, kaboooooooooooom.

reply to post by Vitchilo


Is that dollars you made? What are you going to do with them while they're still worth something?



Dow at close: 10809.85 -634.76 -5.55%


(But don't worry, Elvis President just told the world the US is, and will always be, a triple A country...)

Originally posted by pause4thought
reply to post by Vitchilo

 

Is that dollars you made? What are you going to do with them while they're still worth something?

Yeah well I buy silver, guns and ammo with it. So... it doesn't stay as money for long.