Look out Monday am? stock holders

jdimmick

If my local customer base is any indication, Monday stock market is going to be a blood bath. At least a half a dozen of my customers have completely unloaded all stocks in thier portfolio's this past friday and sat. Some went to cash, the others choose to buy metals. Some of them were well into 6 figure sell off's.

renman95

I'd hate to catch a falling knife but...wow.

MsMorrisine

<< <i>If my local customer base is any indication, Monday stock market is going to be a blood bath. At least a half a dozen of my customers have completely unloaded all stocks in thier portfolio's this past friday and sat. Some went to cash, the others choose to buy metals. Some of them were well into 6 figure sell off's. >>



try foreign stock markets.

roadrunner

<< <i>If my local customer base is any indication, Monday stock market is going to be a blood bath. At least a half a dozen of my customers have completely unloaded all stocks in thier portfolio's this past friday and sat. Some went to cash, the others choose to buy metals. Some of them were well into 6 figure sell off's. >>



We saw the effects of their selling on Friday. But how do your customers sell US exchange listed stocks on Saturday? If they put orders in for Monday am, it's pot luck on where prices
could start out. A contrarion would count your customers among the herd, and make a move to buy. The herd is usually stampeding at just the wrong time. 2008 got everyone
conditioned to dump at any major extended weakness. We'll have to see if this is playing into the HFT computer's hands. Nothing is ever as it seems on the surface with these markets
considering they are all rigged to an extent.

roadrunner

jdimmick

RR,

I dont follow stocks, nor buy them so i have no clue. but I asked one of my customers specifically today when he mentioned that he sold out yesterday. I asked him about how he did it on saturday, he said through his long time broker, and thats it? So I guess you can?

jim

jdimmick

Oh i might add, that Michael told me that his broker tried several times to convince him not too, or only sell 1/2, but he said no sell it all. This would have been well over a 6 figure transaction i am sure of.

cohodk

<< <i>If my local customer base is any indication, Monday stock market is going to be a blood bath. At least a half a dozen of my customers have completely unloaded all stocks in thier portfolio's this past friday and sat. Some went to cash, the others choose to buy metals. Some of them were well into 6 figure sell off's. >>



That is the kind of panic that makes market bottoms.

JCMhouston

I'll be standing by to buy.

derryb

Orders placed over a weekend on the US exchanges cannot be executed an earlier than 7 AM on Monday. As pointed out earlier, those orders will be at the mercy of the opening bids. A stock that closed at 100 on Friday could easily open at 75 on Monday. I expect many more people looking to sell than will be looking to buy. We all know what that means.

I'm begining to think that if we do see a massive drop in US equities that it will take down PMs as well. Baby got thrown out with the bathwater in 08, no reason why it won't happen again. If it does it could be the best buying opportunity thus far for the year. For the first time in a long time I'm in cash when I need to be.

vann

Gold and silver flying off to new move highs along with a big move down in base and industrial metals is pretty much saying it's a given the US equities are going to tank tomorrow and PM are pricing in more QE from the FED. Too much uncertainty regarding the deepening debt crisis worldwide at the moment and the pressure will be on the FOMC announcement Tuesday before a reverse will occur, depending on what the FED has to say. If the FED announcement doesn't include a reference to further easing, gold and silver would probably tank as well.

pf70collector

As stated before I took a loan out for half on my 401K in Jan '011.and the other half is now mostly in money markets and some bond funds. Money is being repaid plus I get 4.5% interest. I don't know why I was investing 25% in stocks in my 401k but pulled out finally last Thursday and took about a 1K hit. We never really got out the recession and it was all smoke and mirrors. No panic at my office. Work going on as usual.