Don’t look now, but…

[Chuck Bao]

…global stock markets are in a tailspin again. And, I thought we’d already seen the crash.

I did an interview with MarketWatch.com yesterday. I did my best impression of “we may have already seen the bottom” and “because of unprecedented measures of central banks and governments around the world, we’ve taken a step back from global financial meltdown”. Luckily, I didn’t allow them to videotape the interview.

MarketWatch’s headline this morning is “Asia takes a pounding”.

God help us all.

[Sooner_Havok]

…global stock markets are in a tailspin again. And, I thought we’d already seen the crash.

I did an interview with MarketWatch.com yesterday. I did my best impression of “we may have already seen the bottom” and “because of unprecedented measures of central banks and governments around the world, we’ve taken a step back from global financial meltdown”. Luckily, I didn’t allow them to videotape the interview.

MarketWatch’s headline this morning is “Asia takes a pounding”.

God help us all.

But the Indians got to space, right?

[bluedogok]

Why does it go down even as the reports coming out are pretty much as expected? Pretty much everyone knows that we are already in a recession and that the quarterlies would be down from the previous quarter or last year. It is ridiculous that the markets reacts so wildly to what was already pretty much common knowledge, to almost everyone but a bunch of the analysts I guess.

[tommieharris91]

Why does it go down even as the reports coming out are pretty much as expected? Pretty much everyone knows that we are already in a recession and that the quarterlies would be down from the previous quarter or last year. It is ridiculous that the markets reacts so wildly to what was already pretty much common knowledge, to almost everyone but a bunch of the analysts I guess.

It's because the reports say things are worse than expected.

[85Sooner]

[QUOTE=bluedogok;2455785]Why does it go down even as the reports coming out are pretty much as expected? Pretty much everyone knows that we are already in a recession and that the quarterlies would be down from the previous quarter or last year. It is ridiculous that the markets reacts so wildly to what was already pretty much common knowledge, to almost everyone but a bunch of the analysts I guess.[/QUOTE



IMO .........which is worth what your paying for it, The markets are being manipulated from somewhere. Check out the number of trades during the day vs the trades in the last hour. I don't have an answer,l but something is going on . I still say the bottom is 75 unless something else occurs. Stop by sometime, I'll buy you lunch.

[Half a Hundred]

There's also the whole business of banks not being done going belly up yet, conflicts from banks over the bailout package(s) that are soon to arise, to some extent already having arisen, and the subsequent retightening of credit.

We're not out of the woods by a long shot.

[tommieharris91]

A silver lining? (http://www.soonerfans.com/forums/showthread.php?t=122978)

[Half a Hundred]

[QUOTE=bluedogok;2455785]Why does it go down even as the reports coming out are pretty much as expected? Pretty much everyone knows that we are already in a recession and that the quarterlies would be down from the previous quarter or last year. It is ridiculous that the markets reacts so wildly to what was already pretty much common knowledge, to almost everyone but a bunch of the analysts I guess.[/QUOTE



IMO .........which is worth what your paying for it, The markets are being manipulated from somewhere. Check out the number of trades during the day vs the trades in the last hour. I don't have an answer,l but something is going on . I still say the bottom is 75 unless something else occurs. Stop by sometime, I'll buy you lunch.

The particular pattern that has occurred over the last few weeks has either a sharp dip followed by a mild recovery, or simply a sharp dip. The dip action comes from automatic sell orders from computers if the stock value dips below a certain value after a certain time. Usually that time is set at 3:30 ET, which explains why it all happens in the last half hour.

The recovery periods, on the other hand, come from two sources: short-sellers having to cover their positions by the end of the day, and bargain-seekers thinking that the market has hit some sort of a bottom. These tend to be more recent investors, that is, who have gotten in within the last 10 -20 years, and consequently have never really known a brutal bear market. They have the day trading habits, which will not work themselves out of the market until most of these investors have been wiped out, leaving the older and newest investors, who by experience and necessity, respectively, have started to take long-term, slow-growth positions.

Watch the VIX if you want to know what's really going on. If volatility is up (historically more than a 30, we got up to 84 today), then things are going to swing wildly in either direction. By the way, what wrecked Wall Street during the Crash wasn't the reduction of stock prices, it was the volatility that ruined thousands of investors and convinced most of the rest to just give up, driving prices inexorably downward.

We are living in interesting times, by the Chinese definition.

[bluedogok]

IMO .........which is worth what your paying for it, The markets are being manipulated from somewhere. Check out the number of trades during the day vs the trades in the last hour. I don't have an answer,l but something is going on . I still say the bottom is 75 unless something else occurs.
I think the markets have been manipulated forever, too many pump and sell types out there. I also think everything has been overvalued for the past six years as well. Man, those few years of being a finance major made me such a pessimist.


Stop by sometime, I'll buy you lunch.
I am working up north now, at The Domain.


We're not out of the woods by a long shot.
I agree.

[GottaHavePride]

What does the report say about Frozen Concentrated Orange Juice futures?

[Tulsa_Fireman]

Stop it, Mortimer.

[Chuck Bao]

Now MarketWatch has installed a little inset for us to keep up with the latest doom and gloom figures in technicolor red.

Seoul – -9.1%
Tokyo – -5.5%
Hong Kong – -4.5%
Singapore – -4.3%
Sydney – -4.0%
Mumbai – -4.0%
Taiwan – -3.1%
Shanghai – -2.6%

If you are wondering, Thailand is on holiday today. Not to worry, we will make it up tomorrow.

[tommieharris91]

Now MarketWatch has installed a little inset for us to keep up with the latest doom and gloom figures in technicolor red.

Seoul – -9.1%
Tokyo – -5.5%
Hong Kong – -4.5%
Singapore – -4.3%
Sydney – -4.0%
Mumbai – -4.0%
Taiwan – -3.1%
Shanghai – -2.6%

If you are wondering, Thailand is on holiday today. Not to worry, we will make it up tomorrow.
It's just collateral damage from what the US markets did today.

[Chuck Bao]

It's just collateral damage from what the US markets did today.

You're right! And, Asian markets are following Dow futures in afternoon trading.

Each downward spiral makes the global recession and deflation hole that much deeper.

Where is the price of oil today?

[tommieharris91]

You're right! And, Asian markets are following Dow futures in afternoon trading.

Each downward spiral makes the global recession and deflation hole that much deeper.

Where is the price of oil today?
Closed at $67.50 today, I think. Down $5.

[batonrougesooner]

"Asia takes a pounding."

Sounds like a move I saw once. There were nekked asian chicks in it.

[Oldnslo]

Gold is way, way down now. as low as 705 an ounce this morning.

[soonersweetie]

I am sooo glad I don't have anything in invested in the stock market. This is depressing. It sure makes me worry about my parents.

[Chuck Bao]

We are dying here in Asia.

Manila -12.3%
Tokyo -6.4%
Taipei -5.5%
Hong Kong -11.8%
Bangkok -8.29%

It is not just recession talk. With more insurance companies joining the bail-out package, I’m guessing that the financial confidence crisis isn’t over just yet.

I’m not a licensed broker in the US, but I have one bit of free advice: don’t buy stocks on a Friday. These days, there is an awful lot of bad news released over the weekend.

Another bit of advice for those wanting to bottom fish. Valuations ain't meaning squat at the moment and analysts are so busy revising down fair values and they still can't keep up with the share price declines. It's a bit sad.

Oh, soonersweetie, I have some very attractively priced warrants of a well-known brokerage firm, if you'd like to dabble in the market (gamble your life savings away).

[Chuck Bao]

Good grief! Tokyo is at a 23-year low.

23 years is like half of my life ago.

23 years ago I was a young buck just starting out as a stock market analyst in Hong Kong.

What were you doing 23 years ago?

[Sooner_Havok]

Good grief! Tokyo is at a 23-year low.

23 years is like half of my life ago.

23 years ago I was a young buck just starting out as a stock market analyst in Hong Kong.

What were you doing 23 years ago?

Ah hell no! You keep that **** over there alright! :mad:

And I ain't gonna tell ya what I was doing 23 years ago. Don't want to make one of us feel even older ;)

:D

[Sooner_Havok]

Europe isn't doing so hot either.

DAX - -4.0%

CAC - -5.96%

FTSE 100 - -4.73%

:eek:

[Chuck Bao]

My only concern at this point is when they tell you to kiss your *** goodbye and I'm not limber enough to do that.

[jkjsooner]

Good grief! Tokyo is at a 23-year low.

23 years is like half of my life ago.

23 years ago I was a young buck just starting out as a stock market analyst in Hong Kong.

What were you doing 23 years ago?

Watching Holiway, Bosworth, Carr, Dixon, Casillas, etc. lead us to a national title. Duh!

[royalfan5]

Good grief! Tokyo is at a 23-year low.

23 years is like half of my life ago.

23 years ago I was a young buck just starting out as a stock market analyst in Hong Kong.

What were you doing 23 years ago?

Most likely playing with toy tractors in the basement of our house.

[Chuck Bao]

Watching Holiway, Bosworth, Carr, Dixon, Casillas, etc. lead us to a national title. Duh!

Now, those are some names. Sadly, I never got to watch any of them play.

Back then, I had to wait until Monday afternoon and go to the local newstand to get the USA Today and the college football scores.

Thank God for the internet.