Stock Market: The Thread

[fan_since79]

Dow ended up down 350 points to the lowest close since the beginning of February. It's negative for the year.

[nate]

Thanks, Pavlopoulos

[Tank]

puerto rico announced they can no longer pay their debts. they owe somewhere around $72 billion.

[arch stanton]

Arch's bold prediction:

 

Within the next decade both Italy and Greece, who have been complaining loudly about the rest of the EU not taking on the mass of refugees coming across the Mediterranean, become the low end manufacturing center for the EU to compete with the TPP crew. "Made in Greece by Eritrean refugees" will become the chic new label by 2020.

[gotbeer]

Can we just be done with Greece, seize the islands, and turn it into a worldwide death row penal colony?  Just surround it with mines and sharks with lasers.

[fan_since79]

For a cheap stock, see National Bank of Greece. It dropped 24% today. In the last 20 months it has lost 93%.

 

98 cents a share at the moment.

[Lhalo]

Just surround it with mines and sharks with lasers.

It's just one simple request.

[mrwicked]

Greece is such a sh*t show.

I was going to head out to Santorini in September, but looks doubtful now.

Although some people are saying it's business as usual as long as you cash plenty of cash.

Six months or a year from now once this calms down though and if they end up back on the drachma, it will be a westerner's paradise of cheap.

Let's hold the next AW golf tournament there:

 

Edited July 2, 2015 by mrwicked

[gotbeer]

Although some people are saying it's business as usual as long as you cash plenty of cash.

 

 

 

Well, that isn't a recipe for tourists to get robbed often.

[mrwicked]

Well, that isn't a recipe for tourists to get robbed often.

 

Haha. Well there's that too.

F*ck it, I'll head back to Croatia instead.

[tdawg87]

I now work for Fidelity Investments (seriously) so I will be happy to add absolutely nothing to this thread.

[Brandon]

Handle my 401k properly, sir.

[Slegnaac]

Handle my 401k properly, sir.

Yes please!

[fan_since79]

Greece said "No" to its creditors today.

 

Stock futures are down big time.

 

Tomorrow should be interesting.

[fan_since79]

Market is dropping hard again. Dow is off 171 points on Greece and China worries.

 

China's stock market has lost 25% of its value in the past couple weeks. Over a trillion dollars in assets gone.

[arch stanton]

No worries. China will recover nicely when they buy up all the Greek businesses that fold this summer.

[Jay]

U.S. markets have pared earlier losses.  Roller-coaster ride out there.  Good example of why you don't sell into these panic scenarios, you end up losing.

 

Never was a fan of the Chinese stocks.  Now everyone is bailing out of them and it isn't pretty.  Chinese central bank is trying to engineer a "soft landing" for stocks but it isn't going to work.

 

There are plenty of Greek businesses that have already folded or fled. 25% unemployment over there.  50% unemployment of younger citizens.

[Jay]

Remember when Alibaba (BABA) was the darling IPO last fall, soaring as high as $119 in November?  Now it's at an all-time low of $78.

[fan_since79]

Things will get ugly fast in Greece if (when) they stop the pension checks.

[Brandon]

Weird, mortgage rates went down the past two days....although, I don't see what the fed sets it at, just what it costs to purchase said rates

[Tank]

stock market actually gained points today after a big loss yesterday.

[fan_since79]

Yesterday's trading was very volatile. Down 171 points early, then closed up 93.

 

Today it's starting out down in a big way. Greece has until the weekend to avoid bankruptcy, and China's market is collapsing.

 

Good times.

[fan_since79]

All trading on the New York stock exchange has been halted due to "technical problems".

 

Also this morning all United Airline flights were halted worldwide due to a "computer glitch".

 

WTH is going on?!

[Lhalo]

A lot of websites went down as well. Chinese cyber attacks?

[arch stanton]

They need a better VPN