Jump to content

Archived

This topic is now archived and is closed to further replies.

aussiebear

IDS World Markets Wed 8th October 08

Recommended Posts

t?s=%5EAORD

 

 

Like many on the forum I was expecting a bounce in the US. All Ords is -4% and has reached historic support so maybe we'll linger around this level. IT is down the most, -6.4% followed by Miners -5.3% and REITs -5.2%. Utilties is down the least, -1.7%.

 

The big miners tossed into the abyss: BHP -6.6% and RIO -6.1%. Some interest in the golds: Newcrest +2.4%, Lihir +1.3% and Newmont -2.9%.

 

Oils seeing another big selloff: Woodside -4.6%, Santos -5.4% and Caltex -3.4%.

Share this post


Link to post
Share on other sites

Australian Consumer Confidence Fell Ahead of Rate Cut

 

Oct. 8 (Bloomberg) -- Australian consumer confidence plunged this month by the most in more than two years, underscoring the need for yesterday's central-bank decision to reduce borrowing costs by the most since a recession in 1992.

 

The sentiment index tumbled 11 percent from September to 82 points, according to a Westpac Banking Corp. and Melbourne Institute survey released today in Sydney. It is the ninth straight reading of less than 100, showing pessimists outnumber optimists. The survey was taken before yesterday's rate cut.

 

Central bank Governor Glenn Stevens slashed the overnight cash rate target by 1 percentage point to 6 percent on signs the economy's expansion is slowing more than forecast. Consumers cut quarterly spending in the three months through June for the first time since 1993.

 

---------------

 

Australian Home-Loan Approvals Drop for Seventh Month

 

Oct. 8 (Bloomberg) -- Australian home-loan approvals declined for a seventh month, supporting the central bank's decision yesterday to cut the benchmark lending rate by one percentage point, the most since a recession in 1992.

 

The number of loans granted to build or buy homes and apartments fell 2.2 percent from July, when they slid a revised 0.9 percent, the statistics bureau said in Sydney today. The median estimate of 19 economists surveyed by Bloomberg News was for a 1 percent decline.

Share this post


Link to post
Share on other sites
Looks like credit market is more optimistic than stock market now. Recovery is coming:

697171[/snapback]

They're the smart money, right? ;)

Share this post


Link to post
Share on other sites
disaster of biblical proportions - http://wallstreetexaminer.com/?p=3232

697175[/snapback]

Share this post


Link to post
Share on other sites

The nikkei is back where it was in 1983.

 

If you graduated from college in 1980 (like me) and started putting money in a mutual fund linked to the nikkei (increasing over the years as your salary went up) you would have about 2/3s of what you would have had if you had put the money in a coffee can.

 

That's frigging amazing. You'd be 50 years old and you'd have paid someone (brokers, older baby boomers, mutual fund companies, not even including the various agencies that tax income) a third of all your money (consider inflation) to hold onto your money. I'd be pretty pissed. Though, you'd probably be a lot better off than the typical American who hasn't saved anything and, hence, hasn't been hurt all that bad in the past few months.

 

Why would anyone think that 25 years of negative returns can' impact the Anglo Saxon world?

Share this post


Link to post
Share on other sites

don't know when the bounch(!) will arrive, but i'm assembling a shopping wrist, mainly of issues that could shproing faster than a levitating tibetan mystic:

 

? UYG, possibly in the single digits. yeah, i know--i'll be a traitor to Camp SKF, but only a for a few weeks/months.

? FRO. shport & 200-wk MA @ $30. delicious divvy. with decreased oil shipments, though, FRO could drop further.

? DIG. who knows where shport is--it's never been this low.

? QLD

? SSO

 

many, many weeks later, i'll look to enter devastated inverse ETFs: SKF, SRS, FXP, EEV.

 

and i remain a life-long imbestor in UFB. :lol:

Share this post


Link to post
Share on other sites

I'm cr@ppin bricks and not even in the market.I literally have no more than $1k in an old 401k and that's it.No IRA...Nothing exposed.Everything is in FDIC CD's or cold hard cash.

 

Usually when I feel like this we get a huge bounce,but All bounces will be sold now from the way it looks.I am afraid of a total economic collapse which will take decades to work itself out.The entire country will suffer no matter where you live.

 

Lots of opportunity for nimble traders,but I am not risking my hard earned savings bottom picking.A few will become very rich trading this.98% of the public will get absolutely wiped out on the wrong side of a trade or staying long all the way down.

 

 

Good luck and be careful!

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.


Stock market portfolio giving you the runs? See Dr. Stool.

Take a subscribatory!
Download 
The Anals of Stock Proctology now!



The Daily Stool - Stock Market Message Board
Stool's Gold- Gold and Precious Metals Forum
Look Out Below Message Board

Support your local Stool Board.


The Al E. Greenspeuman designer line at Stoolmart. Get yours today! Click here now!



Old Stool Depository


The Wall Street Examiner
Subscribe to the Wall Street Examiner
Contact Us




Market Quotes are powered by Investing.com.
×