again today,
oil up and metals up,
we had stated long ago, that when the time comes, the big boys would be on the right side of the trade,
now we hear tales of JP being long both metals, and big long
back in the day, at that time, they were short, really really short
so we shall see
again today,
oil up and metals up,
Freaky chart.
There were rumors in mid January JPM was shorting the SP and long gold. That's when I figured this sad saga would start to unravel. Posted this somewhere here...
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Freaky chart.
Anyone know when the current DJIA on that graph was last updated?
I could see that pattern coming to pass, but make no mistake, it only puts us back to 13200 DOW, hardly a disaster.:boring:
I could see that pattern coming to pass, but make no mistake, it only puts us back to 13200 DOW, hardly a disaster.:boring:
On October 29, William C. Durant joined with members of the Rockefeller family and other financial giants to buy large quantities of stocks in order to demonstrate to the public their confidence in the market, but their efforts failed to stop the large decline in prices. Due to the massive volume of stocks traded that day, the ticker did not stop running until about 7:45 p.m. that evening. The market had lost over $30 billion in the space of two days which included $14 billion on October 29 alone.[17]
Dow Jones Industrial Average on Black Monday and Black Tuesday[18]
Date Change % Change Close
October 28, 1929 −38.33 −12.82 260.64
October 29, 1929 −30.57 −11.73 230.07
After a one-day recovery on October 30, where the Dow regained an additional 28.40 points, or 12%, to close at 258.47, the market continued to fall, arriving at an interim bottom on November 13, 1929, with the Dow closing at 198.60. The market then recovered for several months, starting on November 14, with the Dow gaining 18.59 points to close at 217.28, and reaching a secondary closing peak (i.e., bear market rally) of 294.07 on April 17, 1930. After the Smoot–Hawley Tariff Act was enacted in mid-June, the Dow dropped again, stabilizing above 200. The following year, the Dow embarked on another, much longer, steady slide from April 1931 to July 8, 1932 when it closed at 41.22—its lowest level of the 20th century, concluding an 89% loss rate for all of the market's stocks. For most of the 1930s, the Dow began slowly to regain the ground it lost during the 1929 crash and the three years following it, beginning on March 15, 1933, with the largest percentage increase of 15.34%, with the Dow Jones closing at 62.10, with a 8.26 point increase. The largest percentage increases of the Dow Jones occurred during the early and mid-1930s, but it would not return to the peak closing of September 3, 1929 until November 23, 1954
It would actually correspond to ~8800 and not 13200.
375 to 200 vs 16400 to 8800. (~47% drop)
As usual you see what you want to see, and are misled by the chart. Which of course is the point, they want to fool the gullible.
The chart skews the data, the Cow hasn't had the run now that it had in 1929, they had to fool with the scaling to make it work. If the red line follows the blue line, it will end up in the 12-1400 area. The percentage is irrelevant, because the percentages are not equal on the chart.
which gets right back to what Eat is talking about,
it is hardly a calamity as it was in 28-29, more like a nuisance to go back to 13200
to be a equivalent problem, then it does have to go back to 8000 as stated, using a percentage comparison
otherwise, it is nothing other than a inconvenience for the paper pushers,
So, 40% "hair cut" (decapitation) in a period of 5 weeks or so (at scale). This would be DOW 9600. Aren't there enough "circuit breakers" in the laws now to prevent that precipitous of a decline?
But of course Fed Queen Janet will not hesitate to invoke her powers and step in and provide "liquidity" (free money to the banksters), if the Fed doesn't outright buy stocks or stock futures
Circuit breakers can actually exacerbate a sell-off.
If people and especially computer programs know that they will not be able to sell tomorrow, they will sell today. Once that cycle starts, it can be hard to stop.
But of course Fed Queen Janet will not hesitate to invoke her powers and step in and provide "liquidity" (free money to the banksters), if the Fed doesn't outright buy stocks or stock futures
And of course the PPT is still alive and well and standing by ready to "buy! buy! buy!"
Same old same old. But I thought we were on the mends. Market tanks, FED pumps, confidence erodes more and more. Oh well the real show isn't for a while anyways. Anybody buying stocks?
Wait, aren't you the guy posting the chart that says the market is going to crash by April 1?
If I believed that chart 100%, I would definitely be buying stocks. Can't you see the runup coming immediately? You buy now, and use those proceeds to sell later. I can see the similarity, but I think we get more of a run lasting a longer time. It's hard for me to believe in a crash coming in February, but hey, maybe. After all, this chart guy is really smart and all that...:SLEEP: