Guess the bottom

jimed14

mammasan wrote:

WOW it's up 239 points. This is just crazy about an hour ago it was down almost 500 points. This type of roller coster activity can't be healthy.

as quickly as that happened, it's back to even ... "profit" takers getting what they can ...

mammasan

Now it's down over 11 points. What the fuck is going on!!!

mammasan

jimed14 wrote:

as quickly as that happened, it's back to even ... "profit" takers getting what they can ...

Are these type of drastic highs and lows healthy?

RolandTD20Kdrummer

beachdweller wrote:

if you don't know, you shouldn't be allowed to vote, but you can and that's the problem with the country

hahahaah..

thanks or that...

I like this place...it makes me chuckle

RolandTD20Kdrummer

mammasan wrote:

Anyone who thinks that Obama will reduce government spending or the size of government needs to wake up.

yes but don't forget the sprinkles on that pile of shit...

It's sprinkles....people like sprinkles.

DriftingByTheStorm

mammasan wrote:

Now it's down over 11 points. What the fuck is going on!!!

Today was a classic double bottom pattern, guys.

The reason for the massive volatility between highs and lows was because traders were recognizing that 2x dip (when it went back down to -300 on a news release near mid day) and started trying to rally off of a chart bottom.

Of course, this being a bear market, there were plenty of other folks who were ready to short any perceived top, or simply sell back their long positions, and NO ONE was probably too excited about holding a long position going in to the weekend.

It's just too soon.

I'd expect this volatility to taper off a few points, but remain elevated the next few weeks ... but i would hope to see the markets fail to make any significant new lows (maybe brush 7900 in early trading, to rebound quickly by noon) and start testing highs in mid-late afternoon.

If we can get the first day of trading over next week with that sort of form -- tagging lows early on, highs around 1-3pm, and fading back to scratch by close -- we will hopefully be set up for a sharp 500-1000 point rally in the next few days.

Just pray for no bad news.
I have to check the econ. calendar and see what could fuck us, though.

Fingers crossed, boys and girls.
This is a good sign.

Now if only the goddamn overnight interbank lending rates would go down, i would stop freaking out!

darthvedder81

mammasan wrote:

There was an independent study that showed how Obama's tax plan would cut taxes for people making under $100,000 a year. I agree with that part of the plan but he would also be raising taxes on small business at a time when they can't afford it, that being the part I don't like.

Obama's middle class "tax cuts" are nothing of the sort. 40% of wage earners in this country don't pay income tax at all and they are the ones who make up the bulk of the "middle class." You can't cut $0. What Obama means by a cut is actually a rebate paid for buy those who do pay taxes. So if you are one of the few in this country who pay the majority of federal income tax you can expect to either a) see your tax rates go up or b) your income is about to be redistributed to the middle class. It's the new definition of "fairness" according to Joe Biden. This is ironic as the income tax system in this country is already the most unfair system of taxation imaginable.

John McCain is either unwilling or unable to explain this very simple truth and it's costing him the election. For Obama to do this and increase government spending by close to a trillion dollars in these trying economic times is irresponsible and dangerous and is yet another reason why he is unfit to be commander-in-chief.

beachdweller

mammasan wrote:

Anyone who thinks that Obama will reduce government spending or the size of government needs to wake up.

anyone that thinks that any republican will do anything positive for the middle class is fooling themselves. As for reducing government size, that's easy after how much the republicans have increased it the last 7.5 years. Obama can decrease the size easy.

As for all this corporate taxes rhetoric, it didn't hurt the economy in the 90's, jobs were created, monthly expenditures for individuals and families weren't high, so for those that cry and try and envoke fear over Obama raising taxes, increasing the size of government, even though his plan is the exact opposite, needs to realize they are firing blanks.

mammasan

beachdweller wrote:

anyone that thinks that any republican will do anything positive for the middle class is fooling themselves. As for reducing government size, that's easy after how much the republicans have increased it the last 7.5 years. Obama can decrease the size easy.

As for all this corporate taxes rhetoric, it didn't hurt the economy in the 90's, jobs were created, monthly expenditures for individuals and families weren't high, so for those that cry and try and envoke fear over Obama raising taxes, increasing the size of government, even though his plan is the exact opposite, needs to realize they are firing blanks.

Obama has in no way shape or form expressed reducing the size of the Federal Government, in fact he supports the opposite. I'm not saying that McCain is any better, they both suck, but don't try to pass off Obamam as some savior. He will continue the misguided policies of the Dems and Reps that have plagued this nation for decades.

beachdweller

mammasan wrote:

Obama has in no way shape or form expressed reducing the size of the Federal Government, in fact he supports the opposite. I'm not saying that McCain is any better, they both suck, but don't try to pass off Obamam as some savior. He will continue the misguided policies of the Dems and Reps that have plagued this nation for decades.

yes he has, and stated so in the debates, he stated he would cut government enough by looking at the budget line item by line item, and either cutting the bad programs or making them run more efficiently, and yes he wants to add a lot, but he specifically said that the end result, even after adding his healthcare, energy, and education plans, will be a smaller government that we have know. Bush has increased it so much, they is plenty to cut. That has been his stated approach.

I understand people don't believe him, that's fine, but it is his stated policy approach.

mammasan

beachdweller wrote:

yes he has, and stated so in the debates, he stated he would cut government enough by looking at the budget line item by line item, and either cutting the bad programs or making them run more efficiently, and yes he wants to add a lot, but he specifically said that the end result, even after adding his healthcare, energy, and education plans, will be a smaller government that we have know. Bush has increased it so much, they is plenty to cut. That has been his stated approach.

I understand people don't believe him, that's fine, but it is his stated policy approach.

You just completely contradicted yourself. You say he wants to restrict the size of government but then go on to his plans for healthcare, educations, etc… By getting government involved in healthcare he is expanding government not restricting it. By continuing federal government intervention in education is is expanding government not restricting it. He even stated that he wants to increase foreign aid how is that restricting government. Obama is not for less government.

inmytree

I'm pretty sure I'm in the minority, but I don't see a bigger government as a bad thing....the Federal Government is the largest employer in the United States....

cutting the size of the government would cause job losses and hurt the overall economy...


and I think the bottom will be 6900...

beachdweller

mammasan wrote:

You just completely contradicted yourself. You say he wants to restrict the size of government but then go on to his plans for healthcare, educations, etc… By getting government involved in healthcare he is expanding government not restricting it. By continuing federal government intervention in education is is expanding government not restricting it. He even stated that he wants to increase foreign aid how is that restricting government. Obama is not for less government.

let's say I did a bad job at being specific, I'm talking financial size, and yes I understand what you are saying about government size in regards to it's involvement in our lives. Each important aspects, so it depends what each of us is comfortable with.

government seems to be doing ok providing a healthcare program for our elected representatives.

as for healthcare, I don't want socialized healthcare, doctors making the same low wages as teachers, but I think we care subliment costs, and handcuff HMO's unethical policies that being a for profit business creates.

darthvedder81

beachdweller wrote:

yes he has, and stated so in the debates, he stated he would cut government enough by looking at the budget line item by line item, and either cutting the bad programs or making them run more efficiently, and yes he wants to add a lot, but he specifically said that the end result, even after adding his healthcare, energy, and education plans, will be a smaller government that we have know. Bush has increased it so much, they is plenty to cut. That has been his stated approach.

I understand people don't believe him, that's fine, but it is his stated policy approach.

The "going through the budget line by line" is a tired old axiom that goes all the way back to Michael Dukakis in 1988. It's meaningless bullshit political rhetoric. Do you have any idea how long the federal budget is? It would probably take Obama 4 years just to read the thing.