It’s looking a little dicey this morning. Dow futures are down more than 300 points, the day after the market fell 335 points. Do you remember October 1987? The week before the October 19 Crash was very volatile. Here were the closing prices of the Dow that week:
Oct 12 – 2,471
Oct 13 – 2,508
Oct 14 – 2,412
Oct 15 – 2,355
BLACK MONDAY – Oct 19 – 1,738 (Negative 26% in one day)
On the Tuesday before the greatest crash in U.S. history, the market went up 1.5%. It went up 1.5% this past Wednesday because the Fed minutes said the world economy sucked. Back in 1987 the market fell big time on Thursday and Friday, losing 6% over two days. This caused the Wall Street shills to panic over the weekend and put in sell orders for Monday morning. The market dropped 2% yesterday and the futures are down 2% this morning. The question people are asking themselves is whether this is just a correction or prelude to another crash. The financial networks will tell you it’s a buying opportunity. They are paid to do so.
I actually have no idea what will happen. I won’t lose a penny if the market crashes. I’ve been out for a long time. I don’t trust the system, so I won’t be playing.
The German market has fallen 11% in the last three weeks.
The Hong Kong market has fallen 10% in the last three weeks.
The Japanese market has fallen 7% in the last three weeks.
Everyone expects the Plunge Protection Team to come to the rescue today. The market will open down big time. The Fed and their Wall Street owners will use their HFT supercomputers to ramp the market. Their ideal result would be a market that opens down 300 points and finishes up 100 points. They’ve done it before. Will they pull it off again?
That leads us to our poll question.
The Dow is currently trading at 16,659. Where will it be trading closer to on December 31, 2014?
A. 17,000
B. 15,000
C. 13,000
D. 20,000
E. It won’t be trading because everyone will be dead from ebola
F. It won’t be trading because ISIS has conquered our country
G. 8,000 as the world economy crashes and war breaks out with Russia
