So who suckered themselves into buying this dip?

[mathjak107]

Originally Posted by loves2read

Well--Dow is down 87. At 850EST and others too

futures up at 6:36am

[leastprime]

Odd. SP500 & Dow30Index divergence to Nasdaq & Russell2000. Which is giving a better picture? Are people just buying the SP500 Index and ignoring the components? @1330hr EST.

[Lovehound]

That's interesting LP because I just checked CNBC and discovered the same. I'm no expert but I'd say the techs, particularly the FAANGs are not doing well. In fact I just looked and the FAANGs are all either down or flat.

Tech isn't hot today. In fact it's either cool or cold depending on which 'tooth.' Wouldn't you agree that the NASDAQ is heavily tech? That would explain your conundrum.

Is there any happiness better than selling your stock and then seeing it selling for lower than the price you sold it for? I could buy right back into my AMZN if I wanted it. I don't.

I think tomorrow is going to be worse. Political crisis = market volatility IMO. The FAANGs have gone up as much or more than the other stocks. I'd expect FAANG owners to be pretty skittish until they find out what effect the election has on the market.

We won't know much about the election results until after the market is closed. Tuesday after-market should be particularly interesting to watch, as the elections start getting called. Maybe as soon as a few hours after the East Coast voting closes.

So I'm predicting a wild ride tomorrow.

I'm glad my trading account is all cash and zero stocks. Too bad I didn't listen to the naysayers earlier in October. If I hadn't known about the October thing I might have sold sooner. I thought everything would be fine in early November. Um, wrong! Or at least not yet.

[Ariadne22]

Originally Posted by Lovehound

I'd call Friday a big 'meh.' Trump isn't lying. He's blustering. There's a difference. I think he found some little itty bitty thing that might mean Xi was getting weak, and then turned that into a mountain. So I guess we more or less agree but in different words.

Clearly, you're a glass half full kind of guy if you truly believe this. Words which have no basis in fact, uttered by someone with full knowledge there is no evidence to support those words, are, in fact, a lie . Every Trump 'official' says there has been zero progress with XI. Trump did not "find" a little itty bitty thing that meant anything. Trump told a lie to turn the market around. It's what he does with zero conscience. If a lie gets the result he's aiming for, then that's what he does. He lies. Which is why when he made that comment, I knew the opposite was true.

[Lovehound]

I'm not going to discuss politics with you Ariadne.

I don't know if you saw my post in which I said that ALL the pols are going to be spouting BS specifically designed to influence the election.

I'm treating politicians this week the same way I'd treat a drunk nearly unconscious alcoholic. Both sides of the fence are rabid until after the election.

I think you should accept that neither party is all right or all wrong. Both parties have good and bad ideas. That's the sad situation, that we've lost the political centrists, just like we've lost much of the economic middle class.

[leastprime]

The divergence.
IIRC, The Index people (vanguard, fidelity, blackrock, et al) hedge during trading hours in anticipation of big swings in their major holdings at bell closing. The last 15 minutes could be interesting. Just a guess.

[Lovehound]

We all often see heavy volumes at the beginning and ending of the market. I've assumed it's day traders and like you said above LP.

There was a bit of an upswing in the indices but no big deal. Amazon started out in heavy selling volume (relatively speaking) and then a more moderate buying upswing in the last couple hours.

I didn't find today's market very interesting. NASDAQ was underwater all day.

Now tomorrow... I think tomorrow is gonna be hella interesting!

Even if the market isn't interesting the election coverage will be awesome for anybody interested in politics. It appears that many crucial elections are in the East so we may have some comparatively early indications of how it is going to go.

I'm going to be glued to my TV tomorrow evening.