aussiebear Posted October 8, 2008 Report Share Posted October 8, 2008 http://finance.yahoo.com/intlindices Link to comment Share on other sites More sharing options...
aussiebear Posted October 8, 2008 Author Report Share Posted October 8, 2008 http://money.cnn.com/markets/morning_call/ http://www.kitco.com http://www.kitconet.com/webcharts/base_metals.html Energy futures Link to comment Share on other sites More sharing options...
aussiebear Posted October 8, 2008 Author Report Share Posted October 8, 2008 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%. Link to comment Share on other sites More sharing options...
aussiebear Posted October 8, 2008 Author Report Share Posted October 8, 2008 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. Link to comment Share on other sites More sharing options...
Jetlag Posted October 8, 2008 Report Share Posted October 8, 2008 697143[/snapback] Is the Hanger closed until the world wide recession goes away? Link to comment Share on other sites More sharing options...
roxy Posted October 8, 2008 Report Share Posted October 8, 2008 Looks like credit market is more optimistic than stock market now. Recovery is coming: Link to comment Share on other sites More sharing options...
capitall Posted October 8, 2008 Report Share Posted October 8, 2008 Great photo, named Rescue Now Under Way It may take a little while to download. http://clearstation.etrade.com/cgi-bin/bbs...fer=/index.html Link to comment Share on other sites More sharing options...
roxy Posted October 8, 2008 Report Share Posted October 8, 2008 Today newlow actually dropped. Positive divergence Link to comment Share on other sites More sharing options...
stevieo Posted October 8, 2008 Report Share Posted October 8, 2008 Looks like credit market is more optimistic than stock market now. Recovery is coming: 697171[/snapback] They're the smart money, right? Link to comment Share on other sites More sharing options...
roxy Posted October 8, 2008 Report Share Posted October 8, 2008 chart from cobra Link to comment Share on other sites More sharing options...
roxy Posted October 8, 2008 Report Share Posted October 8, 2008 http://stockcharts.com/def/servlet/Favorit...393449&cmd=show[s134697338]&disp=O Link to comment Share on other sites More sharing options...
DrStool Posted October 8, 2008 Report Share Posted October 8, 2008 disaster of biblical proportions - http://wallstreetexaminer.com/?p=3232 697175[/snapback] Link to comment Share on other sites More sharing options...
Bob_Boberson Posted October 8, 2008 Report Share Posted October 8, 2008 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? Link to comment Share on other sites More sharing options...
joe3pack Posted October 8, 2008 Report Share Posted October 8, 2008 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. Link to comment Share on other sites More sharing options...
MrHanky Posted October 8, 2008 Report Share Posted October 8, 2008 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! Link to comment Share on other sites More sharing options...
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