Market meltdown

[Kodiak]

Cdn$ down over 400 points. Barely above .83US. How low can that go?

[cottonpicken]

There is a demand for dollars because people are getting out of dollars and into cash.

They are running from one burning house into another.

8000 is a support line,below that 4000.
As scary as that sounds.

One of these days you can kiss gold goodbye to the upside.

[cottonpicken]

Should have read "out of stocks and into cash"

[charliep]

What I am finding interesting is the volality in the market. Picking on the Dow again at 2:00 MDT. Low today - 7900. High 8900. Last trade 8600. Nothing here for the faint of heart trading.

[cottonpicken]

God damn i love this guy!


http://www.cnbc.com/id/27097823

Great video of "the man" smackin around some idiots!


The real funny part about all this is you HAVE to play in this ball game.
Everybody needs/has money.
You have to pick a team.

[Zaphod]

I agree with most of what he said, but one key statement was "I have a tremendous amount of cash". Most farmers don't right now and buying commodities on margin is way too risky for anyone who doesn't have bottomless pockets.

I talked to someone who interviewed Rogers this week about the commodity crash, and Rogers was very touchy. He hasn't exactly called that one right. At least not yet.

[Fransisco]

I think what cotton means is that even if you do nothing that is a position. One may not have physical cash but in a down-trending market you are losing. Look at the value of what's in your bins, its a lot less than it was last week.

[furrowtickler]

Jim hit the nail on the head about alot of things. The whole world is paying for massive overspending by a realativily small percentage of greedy bastards who need to go bankrupt.

[wedino]

Hey Cotton, "One of these days you can kiss gold goodbye to the upside. "

I'm going for that ride!! Ticket's bought, seat's reserved!!