So what to make of the recent white-knuckle gyrations on Wall Street? Our contributor Ben Stein haSo what to "So what to make of the recent white-knuckle gyrations on Wall Street? Our contributor Ben Stein has some thoughts on that: August is the cruelest month.
August is the cruelest month.A good chunk of my savings disappeared as the stock market convulsed, and we're down at some pointswell over 10 percent. Why did it happen?
The pundits and analysts appeared and said it was because of the Chinese devaluation and possible serious weakness in China. This, in turn, would devastate U.S. exports, supposedly, to China and sink the ship of our prosperity.That was, and is, nonsense.
The U.S. economy's output is roughly $18.4 trillion per year. Total exports to China are very roughly $120 billion per year.
That a lot of hamburgers, but it's roughly seven-tenths of one percent of the U.S. economy.
If our exports to China fell by 20 percent -- a large number -- that would have only trifling effect on the U.S. economy -- very roughly one-tenth of one percent of U.S. output, trivial even for an economy as big as ours.
But at some moments the U.S. stock markets were off by more than a stupendous $2 TRILLION.
When the stock markets move 1,000 points in a few minutes, it's not because you and I are selling 1,000 shares of GE from our home computer. It is because immense hedge funds, high frequency trading funds, endowments and pension funds sell billions of dollars' worth at the push of a button.
They do it because they personally (and their clients) can possibly make immense sums of money on it.
Stocks move on markets because the big boys in New York or Hong Kong or London say to their traders, "Boys and girls, let's move this guy down! Start some rumors about weakness in China, and then sell like mad!"
I wish they would not make mistake that they need to correct.I wish they valued stocks right the first time and all the time.
baderfakih • Aug 17, 2015 4:01 PM Some have said it would go to $7 weeks ago.And the beat goes on.Guesses are so worthless.When the trials prove to work well enough to get FDA approval all will be well and the price should reflect that.
May 19, 2015 2:32 by dansmily2000 Will File For Bankruptcy SOON EXEL = DNDNQ....Director must resign
I think you have been posting this for over a year.You just deleted the older postings.
Here's a crystal ball guess like yours, from Aug. 3rd.There have been other such guesses before that.I am still waiting for someone to guess correctly.By the way tell us all when is the next earthquake going to happen?
wazoo_wazoo_wazoo • Aug 3, 2015 This Week: $7.00
There is a lot of negativity in the markets on this first trading day of August, but this company stock has a lot room to run.
You post so much, aren't your fingers now void of all skin? You are a strange person. Is it the only pleasure you're able to get out of life?
That is the way markets and many other things are today.Truly absurd.Maybe it has been throughout history?Maybe my mind isn't working as well as it use to?But it seems in the 1950's these things weren't so common.
Bill Gross, now working for Janus Capital, who says all markets now are artificial, the products of central bank manipulation, and that real market prices cannot be discovered.
So people here asking the Trading Commission etc. to do something about it; you are wasting your time. Even Bill Gross with his connection and recognition can't do anything about it.
Correction! "Exelixis, Inc. (EXEL) announced today that its second quarter 2015 financial results will be released on Tuesday, August 11, 2015 after the markets close. At 5:00 p.m. EDT / 2:00 p.m. PDT, Exelixis management will host a conference call to discuss the results and provide a general business update. The conference call will be accessible via the Internet from the company’s website. "
Never mind. I just read the Zacks article that says; "Exelixis, Inc. EXEL is expected to report its second-quarter 2015 results on Jul 30."
Well the grant of large numbers of options to upper management has happened year after year for over a decade.So why haven't they been sold?Based on your theory they should have been.Your speculation is way out of line.Is the sky falling also?