Whoa, futures say big stock crash today!!!

[expat_panama]

From Futures Quotes and Charts - PFGBEST.com

Indices
!sFutures prices as of May 23rd, 2011 - 07:34 CDT
Links Contract Month Change Last Open High Low Time
Q / C / O E-Mini S&P 500 Jun 11 -12.75 1,315.00 1,326.00 1,326.25 1,312.25 07:24
Q / C / O E-Mini Nasdaq 100 Jun 11 -23.50 2,320.00 2,335.00 2,340.75 2,316.50 07:24
Q / C / O DJIA mini-sized Jun 11 -120 12,346 12,448 12,453 12,330 07:24
Q / C / O Russell 2000 Mini Jun 11 -11.70 813.70 824.60 825.80 812.10 07:24
Q / C / O E-Mini S&P Midcap Jun 11 -11.10 972.50 979.70 982.60 970.80 07:24
Q / C / O S&P 500 Index Jun 11 -12.60 1,315.20 1,326.00 1,326.20 1,312.30 07:24
Q / C / O Nasdaq 100 Jun 11 -25.00 2,318.50 2,337.50 2,337.50 2,317.25 07:16
Q / C / O DJIA Jun 11 -125 12,466s 12,555 12,570 12,466 05/20/11
Q / C / O DJIA (E) Jun 11 -206 12,369 12,435 12,448 12,334 06:46

 

[expat_panama]

[gets ready to close last position]

 

[william the wie]

[gets ready to close last position]

why, crashes are where the big money is made.

 

[expat_panama]

...crashes are where the big money is made.

This time I didn't bother selling as markets now are stabilizing. Already sold of most though, the idea is to sell when prices fall and buy when they rise.

 

[waltky]

Is European debt causin' the problem...

European debt worries help stocks end down
23 May`11 - Political and economic climate in Europe sends euro to a two-month low

After three days of bad news about Europe's debt crisis sent Asian and European markets down Monday, it was Wall Street's turn. The Dow Jones industrial average fell as many as 180 points before paring back some of its losses. Another steep downgrade of Greece's credit rating, a warning on Italy's debt and a major defeat of Spain's ruling party caused new worries about Europe's debt crisis.

That sent the euro lower against the dollar. A stronger dollar makes it more expensive for other countries to buy U.S. exports, hurting U.S. companies that sell goods abroad. Fears that Europe's debt troubles could escalate, as they did last year when Greece melted down, sent stocks tumbling across the globe. The dollar rose 0.6 percent against an index of global currencies Monday. The euro dipped briefly to its lowest level against the dollar in two months.

The bad news began late Friday, when the Fitch ratings agency downgraded Greece's debt further into junk status. That gave investors more reason to fear that the country will need more help managing its debts beyond the emergency loan package it received last year. Then Standard & Poor's said Saturday that Italy was in danger of having its debt rating lowered if it could not reduce its borrowing and improve economic growth. The next day, Spain's ruling Socialist party was roundly defeated in local elections, potentially jeopardizing the country's deficit-cutting program.

MORE

 

[Avorysuds]

But.. Obama, saved... the world.

FUCKING BUSH, THAT FUCKING ASSHAT!

 

[expat_panama]

...A stronger dollar makes it more expensive for other countries to buy U.S. exports, hurting U.S. companies that sell goods abroad....

That's a crock, exchange rates don't affect exports.

Sure, pundits say they do and at first glance it even makes sense, but pundits get lots of things wrong and lots of things don't make sense at first. The fact is that exchange rates have never affected exports and they never will because they can't.

 

[william the wie]

...crashes are where the big money is made.

This time I didn't bother selling as markets now are stabilizing. Already sold of most though, the idea is to sell when prices fall and buy when they rise.

Buy high and sell low to reduce losses on losing trades is still buying high and selling low.