S&P Futures down 23 points in after hours (revised...now down 33 points)
 

Obviously a reflection of what's happening in Japan, among other things....

I heard on Fast Money that after the Kobe earthquake in Japan in 1995, the market had a 5% correction over the next week. Wouldn't be a surprise to see that now. The S & P was really overextended and in need of a correction, which started around a week ago.

I agree. It's done nothing but go up basically since Obama was elected... :lol:

I mean, come on...the economic horizon can't be THAT BRIGHT...plus what just happened in Japan is the perfect trigger for a badly needed retracement...

S&P Futures down 23 points in after hours
 

Looks like meltdowns, like everything else, come in threes: Charlie Sheen, Japan, and now maybe the market.


Ocala Mike

The Japanese markets are getting clobbered...

http://www.marketwatch.com/story/jap...ars-2011-03-14

0337: A low level radioactive wind could reach Tokyo in 10 hours, Reuters is quoting the French embassy in the Japanese capital as saying.

11:42p Japan's Nikkei down further, slumps 11% to 8560.61

That's 11% plus the over 6% from yesterday....wow...

S&P down 29 points now...this is starting to look quite ugly...DOW futures down 243...Nikkei now down 12.5%

I was just catching up on reading from the weekend. In the Saturday edition of the Globe and Mail, there was an article about the economic effect the Kobe earthquake had in 1995.

Nikkei lost ~ 20% as the Yen climbed

If I can find a link online, I will add it here - seems like a similar story this time?

Think FWLT is a buy here. Down over a buck today. They should help rebuild Japan along with FLR and JEC, among others.

We were way overdue for a correction, Japan or no Japan. Could have a lot farther to go on the downside. Dow 10,000? At 10:00 AM PDT everything is down; stocks, gold, and silver, plus the good news, oil is at 98 and change, a welcome trend from the 105 of just a few days ago.

I don't think Jacobs has much if any presence in Japan. Given the nature of the Japanese mkt, I think you want to own E&C players with a history of operating in Japan.

bernanke speaks this afternoon, i will reshort markets after he is done speaking no matter what he says.

New multiyear high for that broad market index

The Great (Obama) Bull Market Rally rolls on.....................

More like the money printing (QE/QE2) rally. The market keeps going up and our dollars are worth less and less. All those gold stores that popped up over a year ago? The skeptics said when the public became aware, that was it for gold. They were wrong. The debt crisis is coming.....

Netflix getting killed today on bad guidance. The bloated rat is down over $20 today.