The "support line of biblical proportions" broke. Everybody and his brother was poised to sell when that line broke. The bear market is confirmed.

everyones still waiting for that dead cat bounce

I partially caved. I closed *a few* fraudex positions.

Will re-enter if the crash window is confirmed over the next few days.

The Dow, SP500, and Nasdaq all took out Aug. and Nov. lows today! Volume was massive.
It's no secret anymore - Bring on the Bear!

I think the Coast Guard has been notified to look for missing windsurfers

Maria just said the market is now in CORRECTION.

Yeah, but I'm so used to these guys dicking me over.

There's no fun to life if you can't take a quick profit on a smidget position.

WOW

http://clearstation.etrade.com/cgi-bin/bbs?post_id=8483814

"What happened to wndy

& Brinker that kept saying how wrong those put buyers were???
What happened to wndys claim that the TRIN said a big bounce was coming???"


Whoops.



Elaine Dickinson: There's no reason to become alarmed, and we hope you'll enjoy the rest of your flight. By the way, is there anyone on board who knows how to fly a plane?

I'm showing intraday spike lows back in August on all three indices that were lower than today's lows?

Hoo-wee. Recently I've gotten knocked out of positions by keeping my stops too tight. With this schizo market tight stops can be a bad thing, as my stopped-out positions were frequently winners by the end of the day. So today with the market about flat I bought QID, set a stop much lower than I normally would. Sure enough, the market went positive, QID got within ONE PENNY of my stop level, and I resigned myself to another loss. Then, then... well, we all know what happened then!

YOWZA!

Me too. Not on RUT, though. With NDX it looks like we're 100 points above the needle bottom.

The final solution to the Housing slowdown, CEO Fannie

"Finally, Mudd said policy makers must make renewed efforts to reinvigorate the housing market in general, including by tapping into an underused supply of homebuyers that can be found in populations of new American citizens, armed forces personnel, and minorities."

http://money.cnn.com/news/newsfeeds/articl...13-22113573.htm

I never heard of RSW. Is it liquid. I think the SDS is the preferred double inverse short on SPX.

I just checked. RSW traded 11 thousand total shares today. DO NOT trade that. It is not liquid.

In contrast, SDS traded 17 million

Nice day for Da bears....

[attachmentid=94439]

When the market closes on the lows, can Da Boyz gap it up in the morning?
The Asian markets ought to be worth watching tonight?

Can anyone post Wndy's patented P/C ration chart.
Thanks!

Watching the futures market now and no sign of buyers stepping in yet.

The Canadian Dollar is trading literally like a stock right now. I guess the same can be said about other currencies. When the U.S. fraudexes selloff, so does the loonie.

I certainly hope so. Bear market action, I like it. I'm most comfortable trading it. Sell the morning disturbation ramp and buy some nice puts, and cover in the evening or at selling exhaustion points. I sold a bunch of my front month puts today for profit and am looking to buy more time and trade the near batch for the rest of this week. I'll leave opex week for I am madness.

I think they already did, it was called subprime.

It's increasingly hard (impossible) to feed a ponzi scheme. Geometric growth's a beach.

Congratulations

That's it. I've been restrained enough, and now I'm going to say it- THE TOP IS IN. While adjusting your near-term opinion from time to time is certainly warranted, I'd like to hear from the ex-bulls that showed scorn- and even CONTEMPT for those of us who stuck to our convictions.

And yes, I'm sure there will be a bounce. It may be soon- it may even be violent. But we can now say with about as much certainty as possible, that the most manipulated bull market in history ended in Oct/Nov 2007. I just wonder how long it will take the pseudo/fair-weathered (foul-weather ?) bears to abandon their "up in nominal terms" argument. (cough cough PUPLAVA cough)...

Oops, you're right (again). I was kind of in a hurry when I made the post. I believe RSW is a new ETF, Rydex's version of ProShares SDS?

ATH in Gold in EUROs



Same in Loonies

As some would say in the dirty south: "this market is thoo dealing . . ." The fed ain't being accommodative.

Using daily closing prices, not intraday spreads.

Rydex is tough to trade...only specific trading times for some of their funds...read the prospectus closely...

Maybe this is what you mean?

[attachmentid=94440]

imo i think we're in an area where the probability of a top increases

i would still have to see a lot more damage than this to confirm a top

although that shouldn't stop anybody from making money on the short side for time being

Wondering if the pigmen were the big buyers of PUT over the past 2 months. 5-10% swings aren't cutting it anymore. They're looking for 100-500% intraday.

our new Federal Treasurer believes we can 'absorb' the slowing world growth.

I suppose he is only human and believes what he hears and reads about a 'soft' landing in the US.

Not too many people in OZ consider anything other than the 'rosiest' of scenarios for our economy.

It will be a bloodbath of biblical proportions when it does arrive.People talk about the stength of our 'fundamentals',yet the same thing could have been said about the US thru 03,04,05...

Swan: we can absorb slowing world economy

Federal Treasurer Wayne Swan says Australia is well placed to absorb a slowing in the world economy and the financial sector has coped well with recent volatility in international markets.

''The good news is that Australia is well placed to absorb a slowing in the world economy which may be caused by a more protracted US slowdown,'' Mr Swan told reporters in Brisbane, following a meeting with the Reserve Bank of Australia, Treasury and the Australian Prudential Regulation Authority.

''The truth is that the fundamentals in the Australian economy are strong.

http://business.theage.com.au/swan-we-can-...80108-1ksl.html

I got 28 million for SDS, but whatever. What is worth noting is that SDS was up 3% while TWM was up 6%. Rutty is crash mode, and chart looks just hideous. I was hoping for bounce to 745 that would give me an opportunity to add to shorts -- but so, apparently, was everyone else. That's OK, TWM is already my largest single investment position.

This is not news to anyone watching the market today......

[attachmentid=94441]

head and shoulders..target anyone?????

I think the answer is 11,400 ish

Sow is at the line. Lots of other indexes crossed it. Some charts.

What a totally, totally, completely awesome start to the year. This is just unprecedented.

The way things are playing out (as expected) is actually kinda scary.

But today I celebrate.

How come the pic is upside down and you are in NYC. It's just not right.

Notice how they (the "Heads") quit talking about the worst start since 1932. Probably the worst start since 'ever'.

NDX has been way outside the trend channel for some time......I wonder if we touch the bottom of the channel before we are through???

Nasdaq 100 - 1600?

[attachmentid=94445]

Reversion to the mean?

Joe-six-pack sits at home with a depreciating dollar, rising energy and food prices, yields in fix income are at the all time lows and now a stock market that is falling apart.

HOLLY CHIT BATMAN! When it rains, chit tends to pour.

Apparently, the financials are are all doing their own post-holiday sale:

"Everything 40% off!"

CNBSers were saying EMs maybe the new safe haven. We will see.

Suds, how is the night life?

You know 1600/2240 = .71 or 71% - a 29% "correction" is in the realm of typical for a bear market...

They're full of crap.

New podcast posted on http://radiofreewallstreet.fm, in case you missed it.

hahaha, I think that goes without saying!

Doc: without opening the WSE Pro kimono too far...did I remember that a Jan monthly close below this level would have long term cycle implications?

If his shorts are on fire...why wouldn't he open his kimono?