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You mustn't think that I am a fan of mild-mannered academic Mahmoud Ahmedinijad, dearest Reader. He is a professional parasite (like all of his political-class brethren, everywhere in the world) and, and like all parasites should be expunged from this earthly realm. ('Wiped off the map', if you are one of the dumbasses who think that MEMRI's deliberate mistranslation was accurate).
As I was saying... I'm not a fan of any political leader, anywhere. They should all be slaughtered and fed to pigs. So let's get that clear as point 1.
With point 1 in mind, though, the demonisation of Iran must be countered with all the force we non-groupthinkers can muster. The thrum of the undercurrent of anti-Iran propaganda is a prelude to yet another Two Minutes' Hate - last time it was Iraq (or if you prefer the nomenclature of the Old Testament, Ur of the Chaldees, home of Avram).
Once the Two Minutes' Hate has been triggered, the cruise missiles are never far behind: and then 'brave', 'hero' arseholes fly over at 30000 feet, dropping million-dollar parcels of death onto children and villagers. 'Hero' sociopaths who would shoot their own people if ordered to by their political masters, are sent onto the ground to continue the slaughter at close quarters.
Speaking of which - and thinking of that SAS redmuff sociopath who got given a medal recently ... how come the Strayan Army still gives out Imperial [British] medals?
I thought Gough Whitlam put an end to stuff like that forelock-tugging; we no longer have Knights, OBEs, MBEs, and so on... and of course no more QCs at the Bar. But we still give the VC - each medal supposedly forged from part of the metal of the guns of Balaclava (another signal lesson in military futility, albeit from the days when civilian carnage was studiously avoided and generals weren't safely out of harm's way).
I guess if they'd awarded the little SAS-ginger the Strayan Medal for Shooting Foreigners In Their Own Country, he would not have known how much of a hero he was for being a Good German, killing people whose only crime is to occupy a bit of land that is the focus of the governments Two Minutes Hate.
I am glad that the West is getting its arse kicked in the meat-grinder of Afghanistan; eventually they will give up an we will all be blessed with having a bunch of trained psychopaths becoming ever-more alienated and bitter as they find that their promised retirement benefits are whittled away. And these folks kill because they like it - they're not conscripts.
Headline Indices
The Dow Jones Industrial Average dropped 107.46 points (1.25%) to 8504.67 points. The index high for the day was 8643.65, set in the opening minutes and tested a few times in the first hour; the low was 8499.45, set right at the close. Total volume traded in the 30 components of the index was 1.27bn shares. Decliners outpaced gainers by 13.5 to one, with 27 decliners to 2 advancers. Declining volume was greater than advancing volume by 1.12bn to 148.95m shares. The main decliners (in percentage terms) were -
- Bank Of America (BAC) -0.6 (4.5%) to $12.73 on volume of 367.7m shares;
- Citigroup (C) -0.12 (3.6%) to $3.25 on volume of 183.61m shares;
- AIG (AIG) -0.05 (3.3%) to $1.48 on volume of 54.13m shares;
- Disney Corp (DIS) -0.76 (3.1%) to $23.49 on volume of 13.29m shares; and
- General Electric (GE) -0.37 (2.8%) to $12.78 on volume of 91.11m shares.
The S&P500 index (SPX) fell 11.75 points (1.27%) to 911.97 points. Total volume traded in the 500 components of the index was 4.04bn shares. Decliners outpaced gainers by 5.3 to one, with 399 decliners to 75 advancers. Declining volume was greater than advancing volume by 3.31bn to 670.96m shares. The main decliners (in percentage terms) were -
- Harman Int'l Industries (HAR) -2.91 (12.5%) to $20.4 on volume of 2.83m shares;
- American CapitalLtd. (ACAS) -0.39 (9.1%) to $3.89 on volume of 13.44m shares;
- E*Trade Financial Corp. (ETFC) -0.16 (8.8%) to $1.65 on volume of 40.41m shares;
- Zions Bancorp (ZION) -1.15 (7.7%) to $13.83 on volume of 5.31m shares; and
- Best Buy Co.Inc. (BBY) -2.82 (7.3%) to $35.84 on volume of 27.37m shares.
The Nasdaq Composite dropped 20.2 points (1.11%) to 1796.18 points. while the Nasdaq100 dipped 13.71 points (0.94%) to 1443.25 points. Total volume traded in the 100 components of the NDX was 802.22m shares. Decliners outpaced gainers by 5.1 to one, with 82 decliners to 16 advancers. Declining volume was greater than advancing volume by 608.27m to 193.95m shares. The main decliners (in percentage terms) were -
- Level 3 Communications (LVLT) -0.08 (5.4%) to $1.41 on volume of 12m shares;
- Genzyme (GENZ) -2.87 (5.2%) to $52.75 on volume of 16.89m shares;
- Sears Holdings (SHLD) -3.02 (4.5%) to $63.8 on volume of 1.27m shares;
- Joy Global (JOYG) -1.69 (4.4%) to $36.36 on volume of 5.97m shares; and
- Marvell Technology Group (MRVL) -0.52 (4.2%) to $11.95 on volume of 12.99m shares.
Volatility
The CBOE Volatility Index added +1.87 points (6.07%) to 32.68 points. and the CBOE Nasdaq100 Volatility Index dropped 0.22 points (0.68%) to 32.32 points..
Breadth and Internals
A total of 3834 issues traded today on the NYSE; 1063 stocks posted gains for the day, and there were 2654 losers. 10 stocks made new 1-year highs on the NYSE, while 47 shares plumbed new 52-week depths.
On the Nasdaq 2816 tickers traded today; total Nasdaq volume was 2.19bn shares. A total of 779 stocks posted gains for the day, with aggregate volume of 0.48bn shares changing hands in the day's winners. The red zone of the Nasdaq exchange comprised 1898 losers, and total declining volume was 1.7bn shares. 16 Nasdaq-listed stocks hit new 52-week highs, while 21 shares dipped to new 1-year lows.
| Major Market Statistics | |||
| Index | Close | Gain(Loss) | % |
| Dow Jones Industrial Average | 8504.67 | -107.46 | -1.25% |
| S&P500 Index | 911.97 | -11.75 | -1.27% |
| Nasdaq Composite | 1796.18 | -20.20 | -1.11% |
| Nasdaq100 | 1443.25 | -13.71 | -0.94% |
| CBOE Volatility Index | 32.68 | +1.87 | 6.07% |
| CBOE Nasdaq100 Volatility Index | 32.32 | -0.22 | -0.68% |
Dow Darlings
- Pfizer (PFE) +0.03 (0.2%) to $14.16 on volume of 45.5m units
- Microsoft (MSFT) +0.03 (0.1%) to $23.45 on volume of 103.5m units
Dow Duds:
- Bank Of America (BAC) -0.6 (4.5%) to $12.73 on volume of 368.4m units
- Disney Corp (DIS) -0.76 (3.1%) to $23.49 on volume of 13.3m units
- General Electric (GE) -0.37 (2.8%) to $12.78 on volume of 91.1m units
- Alcoa (AA) -0.31 (2.8%) to $10.9 on volume of 44.9m units
- Home Depot (HD) -0.65 (2.7%) to $23.2 on volume of 16.9m units
Most Traded Dow stocks:
- Bank Of America (BAC) -0.6 (4.5%) to $12.73 on volume of 368.4m units
- Microsoft (MSFT) +0.03 (0.1%) to $23.45 on volume of 103.5m units
- General Electric (GE) -0.37 (2.8%) to $12.78 on volume of 91.1m units
- JPMorganChase (JPM) -0.5 (1.5%) to $33.5 on volume of 56.2m units
- Intel (INTC) -0.12 (0.8%) to $15.86 on volume of 52.8m units
Precious Metals
The Gold Bugs index (XAU) gained 0.66 points (0.47%) to 140.56 points. Total volume traded in the 16 components of the index was 94.64m shares. Advancers outpaced decliners by 1.7 to one, with 10 advancers to 6 decliners. Advancing volume exceeded declining volume by 55.66m to 38.97m shares. The biggest gainers (percentage-wise) were -
- Gold Fields Ltd (GFI) +0.31 (2.8%) to $11.58 on volume of 4.41m shares;
- Royal Gold (RGLD) +1.09 (2.6%) to $42.9 on volume of 0.58m shares;
- GoldCorp (GG) +0.8 (2.4%) to $34.51 on volume of 8.41m shares;
- AngloGold Ashanti (AU) +0.8 (2.2%) to $36.59 on volume of 1.99m shares; and
- Yamana Gold (AUY) +0.19 (2.1%) to $9.19 on volume of 17.12m shares.
Energy Complex
The Oil Services index (OSX) lost 1.89 points (1.05%) to 178.9 points. Total volume traded in the 15 components of the index was 89.68m shares. None of the 15 index components rose today: all 15 stocks within the index fell, with downside volume of 89.68m shares. The main decliners (in percentage terms) were -
- Global Industries (GLBL) -0.34 (5%) to $6.45 on volume of 1.28m shares;
- Weatherford International (WFT) -1 (4.5%) to $21.06 on volume of 13.23m shares;
- Oceaneering International (OII) -2.12 (4.1%) to $49.06 on volume of 0.52m shares;
- Nabors Industries (NBR) -0.67 (3.9%) to $16.71 on volume of 7.39m shares; and
- Smith International (SII) -1.12 (3.8%) to $28.51 on volume of 3.81m shares.
Bellwethers
The nine-stock group that makes up the Rant bellwethers advanced on average by 1.1%. The fallout occurred as follows:
- General Electric (GE) -0.37 (2.81%) to $12.78 on volume of 91.11m units.
- Citigroup (C) -0.12 (3.56%) to $3.25 on volume of 183.62m units.
- Wal-Mart (WMT) -0.21 (0.43%) to $48.25 on volume of 20.65m units.
- IBM (IBM) -0.30 (0.28%) to $107.32 on volume of 7.22m units.
- Intel (INTC) -0.12 (0.75%) to $15.86 on volume of 52.8m units.
- Cisco Systems (CSCO) -0.28 (1.45%) to $19.08 on volume of 44.15m units.
- Google (GOOG) -0.77 (0.18%) to $416.00 on volume of 3m units.
- Fannie Mae (FNM) +0.06 (9.84%) to $0.67 on volume of 28.39m units.
- Freddie Mac (FRE) +0.06 (9.09%) to $0.72 on volume of 11.58m units.
Other Indices of Interest...
The Banks index (BKX) lost 0.91 points (2.42%) to 36.73 points. Total volume traded in the 24 components of the index was 908.38m shares. Decliners outpaced gainers by 20 to one, with 20 decliners to 1 advancers. Declining volume was greater than advancing volume by 887.93m to 20.45m shares. The main decliners (in percentage terms) were -
- Zions Bancorp (ZION) -1.15 (7.7%) to $13.83 on volume of 5.31m shares;
- New M&I Corporation (MI) -0.32 (5.3%) to $5.67 on volume of 13.45m shares;
- Fifth Third Bancorp (FITB) -0.39 (5.2%) to $7.18 on volume of 34.14m shares;
- Huntington Bancshares (HBAN) -0.22 (4.9%) to $4.3 on volume of 42.75m shares; and
- Bank Of America (BAC) -0.6 (4.5%) to $12.73 on volume of 367.7m shares.
