US credit downgraded

[momo]

Goodluck!

bah, the ultrapro shorts are already up 6-7%. i'm out on that

[347Mike]

Pre Markets are looking horrible BAC down 8%, few other stocks on my ticket are down 6-7% as well..

Fuckin' TYP is up 8.5% lulz...

[Denny]

Thar she goes!

[kingjason]

Thar she goes!

-200 right now.

[Broncojohnny]

I'm disappointed, the sheep are leaving all the junk they bought and moving right into the blue chips and keeping them flat or slightly down. I wanted to buy them.

[momo]

I'm disappointed, the sheep are leaving all the junk they bought and moving right into the blue chips and keeping them flat or slightly down. I wanted to buy them.

it's going now!

[Denny]

Fannie? Freddie?

[Broncojohnny]

Yep, Fannie and Freddie got downgraded, now we got a real sell off going. I'm still not getting what I want on blue chips though. I want JNJ under $58 and IR under $30.

[Denny]

Yep, Fannie and Freddie got downgraded, now we got a real sell off going. I'm still not getting what I want on blue chips though. I want JNJ under $58 and IR under $30.

Picky elitist bitch!

[347Mike]

Yep, Fannie and Freddie got downgraded, now we got a real sell off going. I'm still not getting what I want on blue chips though. I want JNJ under $58 and IR under $30.

I am sure they will be going lower than that.

[Broncojohnny]

I am sure they will be going lower than that.

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.

[Denny]

Euro will be on sale soon.

[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.

[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.

[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