US credit downgraded

[Captain Crawfish]

who bought oil at 76? its moving up nicely!

[Denny]

Man, that didn't last long. Europe is going to be a wild one today.

[Denny]

Looks like India is rallying! (Jakarta and BSE)

[Hmbre97]

TYP - The investment seeks daily investment results before fees and expenses of 300 of the inverse (or opposite) of the price performance of the Russell 1000 Technology Index The fund normally creates short positions by investing at least 80 of net assets in financial instruments that in combination provide leveraged and unleveraged exposure to the index It is non-diversified

[Broncojohnny]

Good to know. If only I knew this say a week or two ago when I was actually playing it....

Oh and I am guessing the 300 in that blurb is supposed to say "300%". Meaning the fund is leveraged and will move at 3 times the opposite performance of that Russell 1000 index. So if on a given day the index goes up 2% this fund should go down 6%. It resets every morning and the long term correlation is not going to track the index exactly but on a given day it should be very close.

[347Mike]

TYP - The investment seeks daily investment results before fees and expenses of 300 of the inverse (or opposite) of the price performance of the Russell 1000 Technology Index The fund normally creates short positions by investing at least 80 of net assets in financial instruments that in combination provide leveraged and unleveraged exposure to the index It is non-diversified



Essentially it does the opposite of what the Russell 1000 Technology Index does.

Good to know. If only I knew this say a week or two ago when I was actually playing it....

[Broncojohnny]

TYP - The investment seeks daily investment results before fees and expenses of 300 of the inverse (or opposite) of the price performance of the Russell 1000 Technology Index The fund normally creates short positions by investing at least 80 of net assets in financial instruments that in combination provide leveraged and unleveraged exposure to the index It is non-diversified



Essentially it does the opposite of what the Russell 1000 Technology Index does.

[347Mike]

Al/Jody - so this TYP, can you explain this a little better? It is up again another 14%. I thought I read a comment from one of you where it mentioned that the worse the IT sector does the better this stock does. Did I hear/read that correctly?

[347Mike]

Probably going to close -18% and -50% YTD. Couldn't happen to better company.

lulz.

I thought this was funny:

FNSR down 13.33%

Significant Price Movement Spotted In Shares Of (NASDAQ: FNSR)
Tickr Watch - 6 minutes ago

You don't say????? LOL

[AdamLX]

IR hit $29.88

BAC.

Probably going to close -18% and -50% YTD. Couldn't happen to better company.

[347Mike]

IR hit $29.88

Man, BAC, LNKD, UNIS and a few others are all -15%.

[momo]

How in the hell do they come up with this stuff? THey blame the conservatives for holding the economy hostage. Do they not even talk about the whole 4 trillion in expected cuts and we got a whopping 2.4 trillion. I hope the American people can see past all the bullshit that the libs are spewing and realize S&P is ultimately blaming the little spending cuts. I realize that they blame some of the crap conflicting ideas but that still there are not near enough cuts regardless of political views

we need to take this tea party thing literally and throw some MFing suits into the MFing harbor.

[8mpg]

LOL

Tea Party's fault...

http://www.foxnews.com/politics/2011/08/08/white-house-downgrade-doesnt-matter-unless-its-tea-partys-fault/

First John Kerry was saying it, now the administration? Weak.

How in the hell do they come up with this stuff? THey blame the conservatives for holding the economy hostage. Do they not even talk about the whole 4 trillion in expected cuts and we got a whopping 2.4 trillion. I hope the American people can see past all the bullshit that the libs are spewing and realize S&P is ultimately blaming the little spending cuts. I realize that they blame some of the crap conflicting ideas but that still there are not near enough cuts regardless of political views

[GhostTX]

LOL

Tea Party's fault...

“Look at the history of this – the fact of the matter is that this is essentially a Tea Party downgrade. The Tea Party brought us to the brink of a default.”

-- David Axelrod, top political consultant to President Obama, in an appearance on “Face the Nation.”

http://www.foxnews.com/politics/2011/08/08/white-house-downgrade-doesnt-matter-unless-its-tea-partys-fault/

First John Kerry was saying it, now the administration? Weak.

[347Mike]

I think it is going to take a lot to get JNJ under my price. Probably S&P 1050 or so. There is definitely a flight to quality. Take a look at KO and PG, they aren't going anywhere.

JNJ may be a little stubborn in dropping but IR I think is going to keep following the rest of the market given its momentum so far. I am watching both of those and IR has pretty large drops in comparison. If the market keeps this pace throughout the week then S&P will definitely be below 1050.. lol

JNJ hit around $47 during the '08 ordeal which was also its 5 yr low.
IR hit around $13 which was also its 5 yr low.

If things keep progressing like they have been then I will be using those as references.

I am more interested in IR right now though to be honest.