Today on Tommy T’s Obsession with the Freeperati – “How now, down DOW?” edition

Quickie today (yeah – I know I said that LAST week) as Freepers declare “I’ll tumble for ya”.

Dow tumbles 650 points to new low on day, bringing 2-day losses to more than 1,400 points
CNBC ^ | 10/11/2018 | Fred Imbert

Posted on 10/11/2018, 1:57:57 PM by BradtotheBone

Stocks fell in volatile trading Thursday, a day after the major indexes suffered steep losses sparked by higher rates and a sell-off in tech shares.

The Dow Jones Industrial Average traded 650 points lower, bringing its two-day losses to more than 1,400 points. The S&P 500 dropped 2.1 percent and was on pace for a six-day losing streak. The broad index also broke below its 200-day moving average for the first time since May. The Nasdaq Composite pulled back 1.5 percent and entered correction territory.

The major indexes fell after some of the major tech names failed to recover from steep losses in the previous session. Netflix fell more than 1.5 percent after briefly trading higher. Apple also declined 0.8 percent, erasing earlier gains.

Tech shares fell more than 4.5 percent on Wednesday, marking their worst day since 2011. The sell-off led to the Dow sinking more than 800 points and the S&P 500 dropping more than 3 percent. It was also the 28th time since 2011 the S&P 500 posted a more than 2 percent decline, according to data from Birinyi Associates.

“It’s a momentum correction, not a portfolio correction,” said Joe Terranova, chief market strategist at Virtus Investment Partners. “While we have a bias to believe 2008 could happen again, I don’t think this is the case.”

“Less is more in this environment,” Terranova added. “I think you need to be an observer of the guidance you get in earnings.”

Stocks tried to rebound earlier in the day after the release of weaker-than-expected inflation data. The U.S. government said the consumer price index rose 0.1 percent in September, well below the expected gain of 0.2 percent.

**********************

Not Good!!!
1 posted on 10/11/2018, 1:57:57 PM by BradtotheBone
Thanks for that cutting-edge analysis.
So – who’s to blame??
To: BradtotheBone

Soros.

2 posted on 10/11/2018, 1:59:04 PM by cowboyusa (America Cowboy UP!)

I don’t know why I bother.
To: BradtotheBone

The Dow is getting crushed.

3 posted on 10/11/2018, 1:59:23 PM by tatown

SO much winning!!

To: BradtotheBone

Billionaire RATs trying to crash it before the mid-terms.

Yep – because nothing says “billionaire” like losing 1400 points on your investments.

IF only evidence of it could be found.

4 posted on 10/11/2018, 2:00:25 PM by lgjhn23 (It’s easy to be liberal when you’re dumber than a box of rocks.)

AliensItWas
.
More at the “continue reading” clicky link thingy.

.
To: BradtotheBone

I fear people will look at yesterdays pattern ans the same thing today. The drop at the end of the day yesterday was massive. I hope people don’t panic and do the same today.

10 posted on 10/11/2018, 2:05:39 PM by JoSixChip (He is Batman!)

Let me spare you the suspense – they did.
To: Huskrrrr

Rate hikes. In October, surprise surprise.

So if a quarter-percent increase last month causes a 1600 point drop this month, then why didn’t the quarter-percent increase in June crash the Dow in July?

41 posted on 10/11/2018, 2:36:22 PM by Lower Deck
Details, details….
To: BradtotheBone

I suspect that these traders privately buy short then make the market drop. They get rich, we suffer.

61 posted on 10/11/2018, 3:19:13 PM by New Jersey Realist ( (Be Nice To Your Kids. They Will Pick Out Your Nursing Home))

Traders?  I thought it was Soros?

To: BradtotheBone

The Russian scam didn’t work. They find themselves unable to impeach Trump. The economy is roaring.

Of course it is.

This is nothing but pulling the plug on the economy

I thought the economy was “roaring”?

in an attempt to hurt Trump. They would throw us into a Great Depression solely to remove Trump, and teach all of us a lesson for voting for him.

77 posted on 10/11/2018, 3:40:38 PM by DesertRhino (Dog is man’s best friend, and moslems hate dogs. Add that up. ….)

“If it was anybody else, I’d say what’s going to happen to you would be a lesson to you. Only you’re going to need more than one lesson. And you’re going to get more than one lesson.”
Boss Jim Gettys
.
One final observation.
If you think that this is just about rich people, you’ve got a fucking screw loose.
It’s about retirees, and people who are about to try to retire.
It’s about people who turned to 401Ks and IRAs when they were pushed to do so by the elimination of pensions and the inability of Social Security to keep up with the cost of living.
It’s not about Soros.
It’s not about day traders.
It’s about me, and eventually – you.
.
And now, due to lack of comments, I’m going full Adrastos on ya.
.
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6 thoughts on “Today on Tommy T’s Obsession with the Freeperati – “How now, down DOW?” edition

  1. Archy says:

    I got your lack of comments right here, Tommy.

    Liked by 1 person

  2. MDukes says:

    So let me get this straight – Republicans have control of all three branches of government, and the Chairperson of the Federal Reserve is a Trump appointee, yet somehow liberal democrats have enacted some shadow policy that has tanked the stock market, with billionaires losing massive amounts of wealth ostensibly to cast a shadow over the current administration… These people are nuttier than squirrel droppings…

    Liked by 2 people

  3. willis says:

    Don’t take my lack of comments for any measure of neglect for your “Obsession”. I live for this each Monday and if you stop I’ll……probably come back to read the lovely Athena anyway. She’s prettier than you and I like how she cusses. Your only saving grace is this “obsession” and you have a Ric bass (as do I).

    Liked by 1 person

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