Market Currents

Market recap: Stocks suffered their worst day of the year after woeful U.S. jobs data make...

Friday, June 1, 2012, 4:10 PM ET
Market recap: Stocks suffered their worst day of the year after woeful U.S. jobs data make it clear the economy "isn't just slowing down, it's pulling up the emergency brake." The Dow is now negative YTD, and the S&P breached its 200-day MA. Treasurys and gold were the day's go-to holdings; 10-year yields slipped below 1.5%. Crude oil plunged to $83.23. NYSE losers led winners five to one.

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This news story has 7 comments:

WMARKW Comments (8383)

Hey.....Hussman has been telling us to watch out for months.

1 Jun 2012, 05:20 PM Reply Like

kwm3 Comments (2043)

so true. there was no reason for the early year rally, and I'm glad I'm net short. Didn't even close today calls sold way back, as they will become even more profitable as people wake up to reality. Joblessness globally is probably at an all time high... and long term.... has something to do with globalization, machines, and other factors.

1 Jun 2012, 05:26 PM Reply Like

klarsolo Comments (683)

As a matter of fact he's been telling us that for years. Over the last 10 years he underperformed the S&P 500 by almost 1.6 % per year. Definitely guru worthy.

1 Jun 2012, 06:15 PM Reply Like

WMARKW Comments (8383)

And how many of his clients did not suffer a 50% loss in 2008-2009? Not everyone is out to make 15% a year. Some people are happy with 5% a year and little or no risk? Thats why people hold cash and invest in bonds - they are not looking to accept risk during a period of time where the expected value of the outcome may be negative.

1 Jun 2012, 07:03 PM Reply Like

klarsolo Comments (683)

Absolutely. If you want low volatility with no returns, Hussman is the man for you. Since he didn't even think the market was of decent value in March 2009 one has to wonder what it takes for him to become bullish.

1 Jun 2012, 09:06 PM Reply Like

sheeple2012 Comments (203)

Is Cramer gonna be on at 6? ... let me guess -he's bearish now after 140 handles down on S&P... lol

1 Jun 2012, 05:24 PM Reply Like

untrusting investor Comments (9879)

Nah ... Cramer will be trying to pump his previous calls and sell them to you, so he can get out.

1 Jun 2012, 05:53 PM Reply Like

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