While the number is very bad, there was an analyst on CNBC last night (from MK I believe), who had already announced it. This number was well known a few days ago, and would account for the early week dive. However, the Nov. 21 lows are still holding. Why? I believe, because this seals the bailout loan for the autos as well as greases the way for hundreds of billions of dollars in federal spending. Even the free market guys on CNBC are a little bit sheepish about throwing a couple of million more people out of work. So, the numbers are dual edge. Some of it was anticipated. However, it also means huge government spending to offset the huge downturn in consumer/business spending. I am sure that no one knows how this will play out. Some believe that the economy will continue to tank despite massive government spending and balance sheet leveraging, others believe the opposite. Recent moves on the homebuilders front provides some clues that the home market may start expanding next year, leading the way to a muted, but sustainable recovery. Too be seen. FWIW, I believe the huge government response will at least temporarily show a major increase in GDP (year-over-year comparison), thus spurring the stock market.
...really creepy. I got a YM contract SHORT at about 8300 - it gained $100 and is now off $60. Most times when market isn't too overbought or oversold (like now) early minutes thrash the indexes all over the place. News-driven market would normally react strongly to this. Lazy playas are enjoying their weekend!
wtf??? The news hadnt already published this number yesterday... lol Ive had bloomberg channel and ransquawk all day and they would have announced it if number had been leaked! lol And the start of week crash was nothing to do with this! It was cos we had risen over 1,300points straight in 5days with no pullbacks, and on extremely low volume of traders..., so it was obvious from friday night that market was gan crash for the pullback
Yep, and the floor traders also said the same on CNBC this morning that that was the whisper number on the floor all week. In terms of info, we are all outclassed by the professionals. I accepted that a long time ago. Unless you think Bloomberg provides inside info to the public.
Don't be so ignorant. But I guess you weren't around for the "plunge" that took place yesterday in NY after 2PM. that took the Dow down 300 at one point in the last hour of the session.
I have noticed that you have made similar posts before when you were discussing your crude oil trades . . . as you were unable to DISCOUNT the actual occurrence of the Hurricanes that impacted the market. You seem to still have the same problem. You are unable to accept that the markets ( and whisper number ) was waaaaaay ahead of today's actual number.