Dow jones plunges 512 points in one day; nasdaq down 136; s&p down 60

All hail neo-Keynesian economics.

 

Back when Caesar posted on bigsoccer

Amazing how you forget so many posters down the years

 

THe problem is from a technical/charting perspective, if you look at the S&P 500 (the "SPY" ETF is an easy proxy), there is no "resting spot" or support level where people normally catch their breath, some cover their shorts, and have a usual bounce. It is way down another 35 points roughly, with a small inflection point around $240 which is suspect to hold for long.
If you want to catch the proverbial falling knife, I am looking to do it around $210. (not giving financial advice of course, just my .02)

(charts arent the only factor, but often good tells. News obviously in this environment can toss charts out the window, but unless major news comes out during this time that is positive, then yeah...)

 

Well I was close. anyone else grab SPY on the way up past $240?

 

I need to rep that guy here who mentioned Tesla $100 lower last month. Where did he go?

 

I was talking to my stockbroker a couple of weeks ago, and he said pretty much the same thing as your first link. He predicts a Trump victory and strong economic growth. When I told him that I thought a recession was inevitable, he agreed, but he expects it to be mild, and while there may be “ a small correction”, he expects the upward trend to continue.

I am torn. The guy has fully become a Trump cult member. He has earned my trust, because he’s been right with his predictions in the past, for the most part, and he’s taken very good care of my investments over the years. But this is the first time that his assessment of the future is significantly different from my own thinking. I expect Trump to lose, and I also expect a more serious recession and a more significant market correction.

 

I don't know what Michael Moore's track record is with predictions regarding Trump, but mine is not very good. I did not expect him to get the Republican nomination, and I did not expect him to beat Hillary Clinton. But seriously, he can't possibly win again!

 

Moore predicted a Romney victory in 2012. He also claimed that Trump won in 2016 because of economic anxiety; now that the data shows that's utter horseshit he's flipped his script and now claimed it was because Clinton didn't appeal to women and minorities (seriously).

His brand is blaming the center-left for the crimes of the right. He NEEDS the Democrats to lose to validate his narratives.




That said--I think Trump's chances are a lot better than people suspect. Trump and the GOP have tons of money; meanwhile the DNC is flat-broke, two of the four leading candidates for the Democratic nomination are all but bragging that they won't help fundraise down-ticket, and the Trump campaign already has around 85 million in the bank.