Wednesday, September 10, 2008

Black Math

Like a true Dinosaur, I used a calculator to figure out some percentage drops in the last 7 trading sessions. I wrote these down on a sheet of loose-leaf, and now share some of the more egregious drops with you.

It's ugly. With moves like this, I can only imagine this is pure unwinding of dead portfolios. Funds are fucked, redemptions will continue to soar, credit will remain tight, and the crash will come in October to leave behind the broken remains of George Bush's America.

That is, if they finally let us crash... or will they be able to forestall the inevitable until a new administration arrives?

Check out the carnage... this is just a sampling.

PCX 45.4% decline in last 7 sessions.
JRCC 42.1 %
MEE 42%
JOYG 39.5%
CHK 39%
BUCY 38.5%
EXM 36.4%
GNK 35.4%
AKS 34.3%
CLF 32.8%
SGR 31.4%
NOV 30.7%
CF 29.9%
FLR 29.8%
TRA 29.5%
MOS 28.4%
MDR 27.1%
POT 21.7%

And much, much more!!!


bloggerdotcom said...

Bob Pisani would describe these drops as "rather noticeable" or "remarkable".

Dinosaur Trader said...

"Let's not quibble about a few percentage points..."


Jorge said...


You a believer in the PPT?

Dinosaur Trader said...


No, I'm a believer in politics. This is election year bullshit.