Down goes the Dow

I am still looking (hoping) for ~3,950-4,150 to short.

Where does the "conventional wisdom" come from?

So if we get the expected number, 8.8% which is the highest yet, the market will rally?

Or are you sticking with you view from last month that inflationn is going down?

Here are a few notes:

- NS isn't a very big province, but it can take some driving to get around to see a lot of it so it would make sense to pick your spots of interest

- there are a lot of cute small towns (and some bigger towns) in various places around NS, for example Yarmouth, Digby, Wolfville, Lunenburg, Antigonish, Baddeck, ...

- one of the famous points of interest is Peggy's Cove which is a very cute tiny village with a picturesque lighthouse on a rocky point, well worth the visit. I've been there numerous times and will go again on the upcoming trip

- Halifax is the capital city. It has an important deep harbour with a Navy base, with Dartmouth across the harbour. Halifax has a really nice downtown and waterfront with a lot going on. Plan to stroll along the waterfront and also the Citadel (old fort on a hill overlooking the harbour), and generally downtown. There are some really rough areas closer to the working docks and navy yards. Pier 21 is also there, equivalent to the US' Ellis Island in NYC. We have dug through the archives in their museum and found records of ancestors coming over from overseas long ago.

- the Bay of Fundy has some of the highest tides in the world, and Blomidon Point overlooks the highest tides and has nice hiking and cool cliffs

- toward the northeast across the Bay of Fundy you can find Joggins Fossil Cliffs, a UNESCO World Heritage site where tilted sedimentary rocks eroded by the ocean expose lots of fossils

- Cape Breton Island is part of NS and has a different flavour (and is also the farthest part of NS from entry via the US, which might be on a fast ferry from Boston to Yarmouth for example). The Cabot Trail is a scenic highway loop around NW Cape Breton Island, very scenic with a national park. There is an annual relay race run here that we've done several times (not in the last 15 years I don't think)

As a bonus observation, I was the victim of a "drive-by boobing" one time in NS, which took me by complete surprise and had me and a running buddy doubled over in laughter. People in NS are super friendly (more so than in some parts of Canada), and the vibe is relaxed, low stress.

I'm not from NS but I have a history with it, and it is one of my favourite Canadian provinces.

I dunno just my read of market opinion.

oof. 9.1%. Market down 1.6% in premarket.

Tsla and Twitter doing well in pre opening trading.

The we get to 8:30 AM and both immediately swoon.

General market does not.

No manipulation though. Just a bunch of small traders all deciding to dump those two stocks at the exact same time

We need to double that drop, and then some, by close on Friday for me to avoid donating to your charity... C'mon, SP500, you can DO it!

stop yer paranoia. Market is down 1.6% in the preopen.

Same thing with Bitcoin price...doing well, free fall begins at 8:30 AM

we might get there, no doubt. this was a terrible inflation report.

Wife has had a fascination with NS and PEI, fueled in part by Anne of Green Gables. Considered going a few times, which is not easy from our location. Now older and all the hassles of travel makes it less appealing.

Go to market watch.

What I say is 100% true.

I have an even stronger connection to PEI, but have not been back in a long, long time. Considered going on the upcoming trip, but ultimately couldn't make it work.

I never got the whole Anne of Green Gables thing myself, mind you I've never read the book. Been to the site; it's a tourist draw (and it holds some peculiar fascination for Japanese tourists in particular), worth stopping by if so inclined. People in PEI are super friendly also. Probably if we ranked Canadian provinces by "niceness" it would start with Newfoundland, then NS, then PEI, well ahead of all the others. Prove me wrong, any others with an opinion... :-)

hey sally I think you won a bet - you thought this report would be worse than the last one and I said it would not be. You were right. Unfortunately. Now we all lose a ton of money.

would be awesome if you take this learning opportunity to the politics thread.

meaning when you are proven 100% wrong, and that the market is indeed trading down 1.6% after 8:30 AM you will realize that many of the things you "know" about politics are wrong.

I remember us arguing a few months ago (April maybe?) about a particular inflation report, which was objectively lower than the last (by 0.1% maybe?) not meaning that inflation was dropping. I think we had a fiery argument about semantics and interpretation of data. Good times...

there are no more good times. Just one day of losses after the next.

geez.

this is one of those days I need to back away from the computer and go look at some trees and water. To avoid doing something stupid. Gonna be bloody out there.

Although a rally off this ugly report would be massively bullish.

Stocks are on sale. I’m all in.

Drove to Victoria and Banff twenty years ago. At Banff there were bus loads of Japanese tourists. Flew back to Banff via Calgary a decade ago, Japanese gift shop at the Lake, but fewer Asian tourists. The global economy was in recession at the time. A good time to travel.

Yep.

All was doing okay until 8:30 AM when a full blown swoon began.

Why?

All at once>