Stocks Skid, Fear Rises, 2011 Gains Evaporate

[dalegg 143]

Are we really going to do this again?

[mawilson 2,133]

Are we really going to do this again?

Scared?

[dalegg 143]

Scared?

Only for the country. I actually pulled some out yesterday to help refinance my undervalued house, so personally I made out. Overall I hate seeing this though.

[Mr. Big Dog 10,747]

Are we really going to do this again?

Yep. Welcome to austerity. Try to enjoy the ride down that hill.

[scandal 951]

Scared?

VIX is up 27% going into the close. Party like it's 2009....

[Obama 2012 1,714]

Oil is below $87 !!

Fall baby fall!!!!!

[scandal 951]

VIX is up 27% going into the close. Party like it's 2009....

The index closed up 35% today. Futures up across all expiration months on record volume.

VIX Climbs Most Since February 2007 as Data Send Equities Down Worldwide

The benchmark index for U.S. stock options surged the most in more than four years as weakening economic data sent stocks to the worst losing streak since the bull market began.

The VIX, as the Chicago Board Options Exchange Volatility Index is known, jumped 35 percent to 31.66 at 4:15 p.m. in New York, the highest level since July 2010 and the biggest rise since Feb. 27, 2007. The index measures the cost of using options as insurance against declines in the Standard & Poor’s 500 Index, which fell 4.8 percent and had the biggest nine-day drop since the March 2009 start of the bull market.

“It’s fear,” Luke Rahbari, a VIX options trader at Stutland Equities LLC in Chicago, said in a telephone interview. “There’s definitely a lot of uncertainty in the market, whether you want to talk about European banks, European sovereign debt, slowing growth in the U.S.”

Global stocks had their biggest one-day rout since March 2009. A measure of global equities fell 10 percent from this year’s high in May, entering its first correction in more than a year, amid concern about a recession. The MSCI All-Country World Index of stocks in developed and emerging markets slid 4.3 percent to 310.94, falling 13 percent from its May 2 high.

“It’s just panic out there,” Andrew Keene, an independent options trader at the CBOE, said in a Bloomberg Television interview. “Everyone is moving into cash. People are selling everything.”

VIX Futures

All VIX futures expiring this year rose above 24. September futures climbed 19 percent to 25.90, while November’s gained 11 percent to 24.60. The most-active VIX options were August 25 calls, followed by August 30 calls.

The S&P 500 moved in a 4.8 percent range between today’s intraday high and low, the widest range since a 20-minute rout on May 6, 2010, erased $862 billion from the value of U.S. shares before prices rebounded. Today’s swing is around triple the 1.63 percentage point average range in the past four weeks.

“People have had three years of being told by Washington and the news media that we are in a recovery,” Doreen Mogavero, chief executive officer of Mogavero, Lee & Co., said in a telephone interview from the New York Stock Exchange. “Now to find out that we are not only not recovering but that growth is slowing, things are reversing, there’s going to be a double dip, ten more years of austerity, it’s completely disconcerting to the average investor.”

[luckytxn 2,263]

Thank you Obama the Socialist for pretty much destroying this country. Thank you to the koolaid drinking sheep for electing this moron and allowing him to destroy us.

Hard to believe that with the budget deal and the OK to borrow even more money and another record deficit the idiots didn't see this coming. It is like watching a train wreck. You know what is going to happen but can't do anything about it but just shake your head and walk away.

[dalegg 143]

I predict that by the end of the day tomorrow the markets will stabilize for about 60 hours.

[Mr. Big Dog 10,747]

Thank you Obama the Socialist for pretty much destroying this country. Thank you to the koolaid drinking sheep for electing this moron and allowing him to destroy us.

Hard to believe that with the budget deal and the OK to borrow even more money and another record deficit the idiots didn't see this coming. It is like watching a train wreck. You know what is going to happen but can't do anything about it but just shake your head and walk away.

Austerity is what has the markets worried. Pulling demand out of a slow recovery is what has markets worried. The inevitable increase of unemployment rates and the inevitable rising deficits that will result in has the markets worried. The stubborn refusal to do what needs to be done to balance the budget - raise revenues and reform entitlements rather than cut, cut, cut - is what has markets worried. Only idiots won't admit it.

Edited August 5, 2011 by Mr. Big Dog

[luckytxn 2,263]

I predict that by the end of the day tomorrow the markets will stabilize for about 60 hours.

I predict more sell off. They are now having meetings to see what interventions they are going to do to halt it so the sell off may be milder than it should be. Then we will be hearing all weekend about what is going to happen this Monday when the market opens. There will be some announcements from officials saying to keep calm and stuff. They will be doing more interventions in the mean time. Overall today could have been much worse and should have been so we they are lucky. Hopefully when the sell offs start early tomorrow the nerves will calm and the market will calm also.

[I AM NOT THAT GUY 5,715]

I predict that by the end of the day tomorrow the markets will stabilize for about 60 hours.

TGIF. Things are going to suck early Monday morning.

[웃 910]

TGIF. Things are going to suck early Monday morning.

Unemployment numbers are due out an hour....Expected to be at 9.2%....Probably be at 10% within 6 months..

[Ban Hammer 12,845]

Hang Seng Index down 1040 pts (saw on fb)

[Gary and Alla 3,694]

Thank goodness Obama saved us on Tuesday by extending our credit. They had predicted a dramatic stock market fall if he didn't...wait. What? NM.

It is George Bush's fault.