Seeking Alpha
Seeking Alpha Portfolio App for iPad
Finance
(1)
Market Currents

Market recap: Stocks and commodities were whacked after a morning burst of data painted a...

  • Thursday, June 21, 2012, 4:10 PM ET
    Market recap: Stocks and commodities were whacked after a morning burst of data painted a darkening picture of the U.S. economy (I, II, III), which triggered a Goldman short call, amid expectations of ratings downgrades for several big banks - and all with no Fed riding to the rescue for now. Crude oil fell below $80 for the first time this year; energy stocks were crushed. NYSE losers led winners four to one.
Track new comments on this story

This news story has 10 comments:

  •  
    The storm that some of us have been preparing for...it could get ugly for the next few weeks. Consider a few short trades on overvalued names that will be liquidated in a selloff. Also a good buying oppty for relatively undervalued names.
    21 Jun 2012, 04:24 PM Reply Like
  •  
    Yes, Whitehawk you are correct. However, that paired-trade idea has backfired so far this year and for the last year! Nobody on TV cares about value, only MOMO names. But they will all say they were short MOMO and long value after the selloff--Liars!
    21 Jun 2012, 04:42 PM Reply Like
  •  
    The buys don't have to occur at the same time as sells. I am not recommending pairs trades per se.
    21 Jun 2012, 04:44 PM Reply Like
  •  
    Well, based on a weak economy and jobs market, it's amazing to me that retail is still strong (overvalued) as a sector. It's been the market leader for 2-3 years. Never thought we'd see average retailers trade at 25-50 X earnings with mult billion dollar market caps and huge P/S ratios. ie LULU,FOSL, TPX,SHW,ULTA,HIBB,DKS,UA, MNST

    When they break it will be UGLY! Some have begun....BBBY, TPX, SCSS, FOSL
    21 Jun 2012, 04:50 PM Reply Like
  •  
    I run into the safety of AAPL
    21 Jun 2012, 06:00 PM Reply Like
  •  
    I think the Gov Walker rally is over. We have now come to the realization that US is in early stage of recession. The one good thing is that it means curtains for Obama so the sell-off will be mitigated as Romney pulls further ahead in tracking polls. 11,000 should be the worst we get in next month or so. Earnings season will be awful. Current quarter will be softer than forecast and forecasts for thrid quarter will be ratcheted down lending momentum to the decline. .
    21 Jun 2012, 06:41 PM Reply Like
  •  
    You're really delusional if you think the market moved even 0.01% on account of the Wisconsin gubernatorial recall election. I hope you don't invest based on that kind of thinking.
    21 Jun 2012, 08:16 PM Reply Like
  •  
    Son, I've been doing this since '78. If you don't think things like this election have huge impact you are the delusional one. What explains the Tues afternoon reversal from down 30 to up 30 then 250 or so on Wed??? When the GOP took control of Congress in Nov '94 the 10 year was at 8.75%. The bond rally began the next AM and didn't stop until 5% and then just for a breather. The driving force in this market now is political. An Obama win would be disastrous just as a Carter win in '80 would have been. The pivot point of this nation and its makets is the election. Anything that colors this will be seen in the market's performance. BTW, I would check my language choices when you communicate on this site.
    22 Jun 2012, 10:34 AM Reply Like
  •  
    Likewise, addressing your peers as "son".
    22 Jun 2012, 02:44 PM Reply Like
  •  
    Today the addict lost his hopium stash and freaked. Better find some hopium quick before DT siezures start.
    21 Jun 2012, 07:18 PM Reply Like
LATEST|
TODAY SO FAR|
YESTERDAY
Other date
DJIA (DIA) S&P 500 (SPY)
Latest Articles
More Latest Articles »