That was sudden. After soaring at the open and holding big gains all day, US equities fell off the table in the last 15 minutes of trading, ending over 500 DOW points below the day’s high. Guess the, um, uncertainty isn’t over.
Looks like another central bank will have to step up this week. Since the Fed is already backtracking on its September rate increase, the simplest for all concerned will be a quick one-line press release saying “never mind.”
7 thoughts on “Stocks Tank In Last 15 Minutes; Correction Not Done?”
I love it when the “experts” and “smart money” are wrong (that means I’m becoming a real lover boy). I know it seems “obvious” that the Fed won’t raise interest rates but I’m gonna take the over on that. Arrogance, poor economic models, an attempt to appear credible, and a desperate attempt to seem sanguine will be why they persevere. Isn’t that really more in line with the history of central banking?
P.S. They won’t raise rates though until the markets have “stabilized” and recovered some, “evidence” of merely a “correction” and that all is well.
QE4, comin’ up!
Not done? Seriously? More like barely under way. LOL
Anyone who bought in this morning, early on, got hammered… and deserved it. This has nothing to do with “uncertainty,” it’s about basic arithmetic.
Think the folks who were being clever and went for a dead-cat-bounce this morning are going to try it again tomorrow?
China’s latest pipe-dream burnt off like an early morning fog on a Georgia summer morning… and only took a bit longer.
Liquidity is evaporating daily and I doubt if anyone who’s currently holding cash is interested in even thinking of buying until there is a LOT more capitulation on the part of Hedge Funds, Greater Fools and the FOMC.
I bought all my bullets a long while ago. Thinking about buying this flamethrower, though:
http://bgr.com/2015/08/25/flamethrowers-for-sale-xmatter-ion-productions/
Bad idea. Flame throwers are about as dangerous to the people employing them as they are to the people in front of them.
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