Poll - How bad will the stock market be on Monday?

[edsinger]

How bad do you think the markets will be at close on Monday?

Keep in mind a few things, Saudi Arabia's market fell 5% on Saturday, Israel's market fell 7% today. I have not yet got the information on pre-market in Japan.

Some say the S&P Debt rating reduction was already factored into our markets, some say not. I think not because I thought it would not happen yet.

Gold and Silver?

I think Gold will close over $1700 and Silver over $42...
I have plans to sell some stocks and maybe some mutual funds. I am looking to buy a ETF called SDOW, its shorts the DOW. It was $30 a share on Monday and $39 on Friday...

What say you?




Well it appears the 5-9% Bunch (26) won, with the 2-4% (19) not far off. As Ingoers we did well with the guess. Now we can cry.....Dow Down 5.56% and the Nasdaq even more.

 

[Prometheus]

The markets are driven by fear and greed at this point. Nothing more.

Add that to the fact it's legalized gambling and you will do fine.

 

[Kurr]

I think you are mistaken on the PM side. The crash along with the psychological influence that will make it worse will set off a chain reaction.

Those who weren't wiped out on friday's calls will be hit with a whole new shake an bake new set of loses and even more HUGE margin calls.

This will have the effect of liquidation in the PM markets to cover those calls and will result in extreme short term depression of the "spot price".

I have also heard alot of funds have it in their contracts and clauses that they have to be holding AAA bonds for the security, such as pension funds etc. Up until now Treasuries have been considered the gold standard of bonds.

I am expecting those under such AAA only stipulations to have a massive sell off in the bond markets.

I expect havoc, mayhem, fear, panick, a bloodbath across the board.

When PMs drop I expect dealers supplies to dissapear. APMEX has already suspended sales till market opens I have heard.

 

[Kurr]

I do not think the PPT can hold this one up

 

[Bitter Clinger]

Its going to take a tumble, based on the Asian markets reaction to the U.S. credit downgrade.

Hows that Hope & Change working out?

 

[Prometheus]

Hows that Hope & Change working out?

You mean the sell out by republicans after all their promises in midterms? About as well as the change in 2008.

Douchebags are continuing to destroy the country while people toss around worthless catch phrases and engage in partisan stupidity.

Democrats AND Republicans are destroying America. Equally.

 

[Bitter Clinger]

Democrats AND Republicans are destroying America. Equally.

I agree with you that both parties are responsible, which is why I call them all Republicrats.

But I must take exception with your "equally" statement. In two years this administration has tripled the debt it inherited. And they had control of both houses of Congress.

Sorry, but it wasn't the Republicans who passed a trillion dollar "stimulus" that did NOTHING and the even more expensive Obongocare.

Not saying Republicans are innocent. But the "drunken sailor" analogy much more closely resembles the Democrats.

 

[jeremy]

Not saying Republicans are innocent. But the "drunken sailor" analogy much more closely resembles the Democrats.

Actually a Drunken Servicemember generally quits spending when they no longer have Money...

 

[g+16]

But, a drunk sailor has been known to borrow for a drunk

 

[sentinelrepublic]

It depends on how the asain markets respond to the us credit downgrade.
Also, as someone said previously, some people sign a contract to only hold triple a bonds....there will be some selling off, just dont know the severity of it yet. I'm pretty sure the price of gold will jump a couple hundred of dollars.
Hope it doesn't get too bad before I get the chance to buy some more ammo!
Ammo isn't a futures market is it?

 

[Jake46184]

I suspect the big board will fluctuate wildly until about 2pm and then will rally for the rest of the day to close slightly up. Be sure to understand that most of what is driving the uncertainty in the U.S. market has nothing to do with the "debt" deal. Europe is causing most of the problem.

 

[edsinger]

Europe is causing most of the problem.

Agreed, but the S&P was the shocker....Sheeples will panic

 

[Plinker]

Tuesday and Wednesday may be a busy day for bargain shoppers...

 

[Kurr]

Dow futures down 287 pnts on the open

 

[model67a]

There will be a lot of activity among the Buffet followers tommorrow and into Tuesday!! Lots of blue chips will be selling at bargain prices. "Be greedy when others are fearful".

 

[joslar15]

Gold is currently trading at $1693.25 in the Asian markets.

 

[Hemingway]

Personally, I don't think it will be that bad on Wall St because I still firmly believe the average Joe doesn't understand how bad our future is at this point.

If everyone had a clear understanding of our situation, they would have to halt trading it would fall so fast.

If John and Suzie Q read any economic news it's only because they stumbled across it whilst looking for some pics on Lady Gaga's newest outfit or what the current gossip is about J. Lo's breakup.

Me? I'm stacking more than ever God, Guns and Gold!

 

[joslar15]

U.S. futures down 1.7% in Asian markets following S&P repudiation of Obamanomics.

Nikkei down 1.2% as world markets react to S&P downgrade - Aug. 7, 2011

 

[John Galt]

This corrupt, parasitic system needs to end and God, guns, gold (silver) & groceries are great investments right now! The end of the Great Keynesian Experiment will be interesting, to say the least.

 

[Kurr]

Silver up Almost 2.00 @ 40.28