« previous next »
Pages: [1]   Go Down

Author Topic: U.S. stock market’s COVID plunge puts these potential pullback lows in focus:  (Read 291 times)

0 Members and 1 Guest are viewing this topic.

Offline catfish1957

  • Laken Riley.... Say her Name. And to every past and future democrat voter- Her blood is on your hands too!!!
  • Moderator
  • *****
  • Posts: 31,515
  • Gender: Male
U.S. stock market’s COVID plunge puts these potential pullback lows in focus:
« on: November 26, 2021, 06:04:40 pm »


https://www.marketwatch.com/story/u-s-stock-markets-covid-selloff-puts-these-potential-pullback-lows-in-focus-analyst-11637939870?mod=mw_latestnews

<snipit>
With U.S. stocks suffering a sharp, Black Friday selloff following the discovery of a fast-spreading variant of the coronavirus that causes COVID-19, chart watchers are attempting to gauge just how deep any pullback could get.

“While we have been looking for a pullback, it’s difficult to forecast how quickly it will play out,” said veteran technical analyst Mark Arbeter of Arbeter Investments, noting that, often, “panic downside moves accelerate or shorten the length of the pullback” while also potentially erasing “obscene” positive sentiment levels that have accompanied the rally.

=================================================================================

Obscene is a mild word describing how oversold the markets are.  At my last glance...   

DOW down 900.
Crude down almost 12%
10 Year US Bond yields down 8%
Precious Metals flat.

Some idiotic fin. pundits are calling it a buying app.  Sheesh.
Logged
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline rustynail

  • Hero Member
  • *****
  • Posts: 6,129
Re: U.S. stock market’s COVID plunge puts these potential pullback lows in focus:
« Reply #1 on: November 26, 2021, 06:07:47 pm »
OMG it is Omicron, run.
Logged

Offline IsailedawayfromFR

  • Hero Member
  • *****
  • Posts: 18,746
Re: U.S. stock market’s COVID plunge puts these potential pullback lows in focus:
« Reply #2 on: November 26, 2021, 06:21:31 pm »
The virus does not cause the market to plunge.

It is plunging as we enter inflation territory and spending causes increasingly unsustainable deficits as Biden and Congress pick the pockets of working Americans and hand money to worthless imbeciles who vote for them, or illegals, or the well-connected.
Logged
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline catfish1957

  • Laken Riley.... Say her Name. And to every past and future democrat voter- Her blood is on your hands too!!!
  • Moderator
  • *****
  • Posts: 31,515
  • Gender: Male
Re: U.S. stock market’s COVID plunge puts these potential pullback lows in focus:
« Reply #3 on: November 26, 2021, 06:42:34 pm »
Quote from: IsailedawayfromFR on November 26, 2021, 06:21:31 pm
The virus does not cause the market to plunge.

It is plunging as we enter inflation territory and spending causes increasingly unsustainable deficits as Biden and Congress pick the pockets of working Americans and hand money to worthless imbeciles who vote for them, or illegals, or the well-connected.

Well yes and no.  Yes, in that it is probably spooking the whacked speculators right now, but for the honest to the bone smart investor, we know that it is only a diversion and a distraction.

But, expect anything less from the MSM financial punditry?    From a market perspective I have been saying for serveral years that the fundementals alone do not support a DJIA of 20K much less 35K.  Once the bubble of speculative exuberance pops, its going to be a fast downward slide.....   or a hyperinflationary event not seen in serveral decades in the 1st World.   That is why I think right now Gold prices are the most important and telling financial benchmark we have right now. Keep an eye on it.
« Last Edit: November 26, 2021, 06:46:45 pm by catfish1957 »
Logged
I display the Confederate Battle Flag in honor of my great great great grandfathers who spilled blood at Wilson's Creek and Shiloh.  5 others served in the WBTS with honor too.

Offline IsailedawayfromFR

  • Hero Member
  • *****
  • Posts: 18,746
Re: U.S. stock market’s COVID plunge puts these potential pullback lows in focus:
« Reply #4 on: November 26, 2021, 07:50:49 pm »
Quote from: catfish1957 on November 26, 2021, 06:42:34 pm
Well yes and no.  Yes, in that it is probably spooking the whacked speculators right now, but for the honest to the bone smart investor, we know that it is only a diversion and a distraction.

But, expect anything less from the MSM financial punditry?    From a market perspective I have been saying for serveral years that the fundementals alone do not support a DJIA of 20K much less 35K.  Once the bubble of speculative exuberance pops, its going to be a fast downward slide.....   or a hyperinflationary event not seen in serveral decades in the 1st World.   That is why I think right now Gold prices are the most important and telling financial benchmark we have right now. Keep an eye on it.
Understood and agree.

My take is the tech stocks will take it on the chin the most as their PE ratios are out of sight and offering little or no dividends gives a depressed investor little reason to remain with them.

Bonds are terrible, and any who dive into them has a mental problem.
Logged
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington

Offline Hoodat

  • Hero Member
  • *****
  • Posts: 36,593
Re: U.S. stock market’s COVID plunge puts these potential pullback lows in focus:
« Reply #5 on: November 26, 2021, 07:54:43 pm »
This isn't a Covid plunge.  This is a plunge orchestrated by our enemies using Covid as an excuse.  There is no Covid surge in South Africa.  There is not a single piece of evidence available indicating that this new strain is "horrific".
Logged
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.

-Dwight Eisenhower-


"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."

-Ayn Rand-

Offline libertybele

  • Hero Member
  • *****
  • Posts: 57,451
  • Gender: Female
Re: U.S. stock market’s COVID plunge puts these potential pullback lows in focus:
« Reply #6 on: November 26, 2021, 08:10:00 pm »
Quote from: Hoodat on November 26, 2021, 07:54:43 pm
This isn't a Covid plunge.  This is a plunge orchestrated by our enemies using Covid as an excuse.  There is no Covid surge in South Africa.  There is not a single piece of evidence available indicating that this new strain is "horrific".

But the MSM has helped to push the panic buttons.
Logged
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline Fishrrman

  • Hero Member
  • *****
  • Posts: 35,617
  • Gender: Male
  • Dumbest member of the forum
Re: U.S. stock market’s COVID plunge puts these potential pullback lows in focus:
« Reply #7 on: November 26, 2021, 10:56:15 pm »
Petroleum is down to just a little over $68 as of this posting.

That's a GOOD thing.

Keep the fear a-comin', if you please, just a little while longer.
Logged
Pages: [1]   Go Up
« previous next »