Biz

Stocks Tank Again

By FITSNEWS  ||  The Dow Jones Industrial Average shed 223 points (or 1.35 percent of its value) on Monday – extending an abysmal run for the U.S. stock market that included a major selloff last Thursday.   Meanwhile the Nasdaq and the S&P 500 also posted losses of 62.6 points…

By FITSNEWS  ||  The Dow Jones Industrial Average shed 223 points (or 1.35 percent of its value) on Monday – extending an abysmal run for the U.S. stock market that included a major selloff last Thursday.   Meanwhile the Nasdaq and the S&P 500 also posted losses of 62.6 points (1.46 percent) and 31.4 points (1.65 percent), respectively.

After three straight days of triple digit losses, the Dow is now down 1.5 percent for the year – meaning it could easily wind up finishing 2014 in the red, the first negative year for the markets since 2009.

What’s driving these declines?  Fear – and the inability of the Federal Reserve to do anything about the situation.

For the first time since August 2011, CNN’s “Fear and Greed” Index – which tracks seven key investment metrics (stock price momentum, stock price strength, stock price breadth, put or call options, junk bond demand, market volatility and safe haven demand) – hit zero, representing the most extreme level of fear in the markets.

A month ago, the metric was at 43 – seven points shy of a “neutral” reading.

“I don’t mean to be alarming, but this is 1987-esque,” pseudonymous market watcher Jesse Livermore tweeted, referring to the October 1987 global stock market crash.

Actually it’s global worries – most notably the declining health of the Eurozone economy – that are driving the current market jitters.

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13 comments

Just another guy October 13, 2014 at 7:33 pm

Sic,
Let me help you out here so you can edit your article. 2009 was a great year for the Dow, returning 18.82%. The last time the Dow finished negative on the year was 2008. If you are talking about intrayear negative returns, that was in January and beginning of Feb of this year. If you want to know why the market went down today, I am more than happy to help you with that as well. Just let me know.

Reply
Scooter October 13, 2014 at 7:37 pm

It is getting about time to buy oil company stocks.

Reply
FastEddy23 October 14, 2014 at 10:15 am

… The offshore oil companies, yes. The domestic oil companies, not yet. The g’ment is still demonizing US big oil and is still blocking the pipeline(s).

Reply
Guest October 13, 2014 at 8:34 pm

If you’re so confident about the market, why don’t you short the S&P or Nasdaq?

Reply
FastEddy23 October 14, 2014 at 10:12 am

… That’s what I have been doing this and last week. So, not much to brag about,

Reply
Thomas October 14, 2014 at 1:26 am

We are less than halfway to a 10% correction.

Reply
FastEddy23 October 14, 2014 at 10:17 am

You have it right. The administration is still manipulating commodities, oil and gold, … Oh Bummer.

Reply
Thomas October 14, 2014 at 1:26 am

We are less than halfway to a 10% correction.

Reply
Diogenes October 14, 2014 at 8:22 am

“Buy straw hats in January.”. John D. Rockefeller

Reply
E Norma Scok October 14, 2014 at 12:58 pm

Listened to the English dude on Crabtree’s show this morning?

Reply
Guest October 14, 2014 at 3:37 pm

For some perspective:

file:///C:/Users/Tom/Desktop/Dow%20Jones%20Average%20%20-%20Google%20Search.html

Reply
The other Another Guy October 15, 2014 at 10:02 am

For better perspective click on the 3 month. Red for the year. Nearly correcting it’s 200 moving average. Suggests pushing negative on it’s 225 moving average by EOD

Reply

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