ANOTHER RED DAY IN THE MARKETS!!! DOW FUTURES -100!!!

Strange seeing as how the Brit Pound started the drop. I wonder whether the Brits will be pushing for a strike on Iran?

could well be... probably a joint effort

sure seems like they were just waiting for the charade of an election to be over to quickly advance whatever plans were well underway already, right?

Do you get the feeling things will start to accelerate from this point on?

The selloff in the market the morning after the election was so strong it surprised even me...and I was expecting it

Also don't forget that the real bill for Sandy is just starting to come into focus, and I expect the total to be closer to $100BN...in a state where tax revenues are falling and jobs are vanishing as the financial industry contracts

In addition Elizabeth Warren was just elected to the Senate, and she is expected to put the screws to the banks and Ibanks even more...that can't be helping market sentiment any

A friend of mine is a senior manager at the electrical installation firm contracted to repair most of the buildings in downtown NYC. He says that they are getting quotes of 8-10 weeks just to get the PARTS to start fixing the electricals of those buildings..never mind installation

All those buildings had their equipment in the basement, flooded with salt water. It's going to be a while until Wall Street is really back up and running at 100%

Another colleague who is also an analyst, says a significant number of the guys at his firm are still out of power back home (Northern NJ or Long Island), some are living in temp housing, and his firm only yesterday got their full power back...so he can barely send me charts and analysis

no one even mentions the chaos of a commute..which I'm sure takes a toll

None of this is helping the mood...and when people are uncertain and feeling dispirited, they go to cash

I would...and I have

gltu!

zerohedge‏@zerohedge

The selloff in the last 2.5 seconds of trading today should be exciting

I don't know. I seldom follow analysts...just the charts and forex and the Euro sell-off at the moment is a reluctant one...its the Pound thats gunning which makes me kinda scratch my head. Obama will come up with something to calm the other markets I would imagine. They always do.

But then again, as you point out theres so much afoot, we may well be on the brink of something. I tend to steer well clear of speculation other than to keep abreast of the news.

I read somewhere that trillions worth of derivatives were wiped out during Sandy which sounds scarey. Not sure whether its nonsense. Have you heard anything?



I heard that trillions of dollars worth of certs were probably destroyed in the vaults of the DTCC

that may or may not have an immediate impact, although at somepoint I'm sure it will cause someone a big headache

I also heard that the head of Derivatives Trading at UBS (I believe) was just replaced with an algo..lol. Some poetic justice there I guess

here:

[link to www.bloomberg.com]

That was getting a bit of buzz with the Goldman Elevator crowd, you can bet

What do you mean 12702?