Imminent and severe market correction

[bean]

Bean their sharemarket and economy do not have anything to really do with each other its not a gage of health like ours is.

now looking at their chart, SSE 180 INDEX looks like they are starting another correction nothing to really worry about yet.

but we all know how avalanches start!

the main thing that interests me on this selling is it reminds me of the expanding pattern the dow made a while back before it banded to set up fall if i remember correctly but I am not saying that that will happen here.

good trading

A correction is heathly? I have also been waiting for a top has it happened?
They say a 10% correction to markets is healthy this may happen in two or three days!!!

 

[>Apocalypto<]

A correction is heathly? I have also been waiting for a top has it happened?
They say a 10% correction to markets is healthy this may happen in two or three days!!!

i say in regards to china that 20-30% is healthy! 10% is a dip! ha ha ha

well I am no EW or Gann expert so i am not very good at calling tops but I personally think it's to early to call a top on china right now, based on what I see on the chart.

 

[sassa]

Um lets' see, how about the fact that every other day a mortgage originator goes bust or a hedge fund announces they have serious trouble.

http://money.cnn.com/2007/09/14/news/companies/goldman_alpha_fund/index.htm

 

[sassa]

God bless America.When the Americans do something they don't do it in halves.There was a severe market correction overnight and in the opposite direction to what this thread was referring to.Such an uptrend from 2.15pm to the close of market is probably unparalleled in the Dow.Was this a knee jerk reaction?Will the Dow continue to climb to the 14000 mark that some writers in this forum have been predicting?Will the market subside in the next weeks?
Thoughts please.

 

[Uncle Festivus]

This all has a striking similarity to a junkie getting a 'fix', only the short term gain still won't alleviate the long term pain brought about due to the housing bust. What the US Fed has actually said by caving in to the debt junkies is that the US is probably already in recession or so close as to be borderline. Helicopter Ben is showing his weak hand approach to solving this problem by throwing money from the virtual helicopter.

So what happens the day after all this has time to sink in and cooler heads have had time to digest the ramifications of all this? Time to take some profits maybe? Not looking forward to tomorrows market action.

 

[CanOz]

This all has a striking similarity to a junkie getting a 'fix', only the short term gain still won't alleviate the long term pain brought about due to the housing bust. What the US Fed has actually said by caving in to the debt junkies is that the US is probably already in recession or so close as to be borderline. Helicopter Ben is showing his weak hand approach to solving this problem by throwing money from the virtual helicopter.

So what happens the day after all this has time to sink in and cooler heads have had time to digest the ramifications of all this? Time to take some profits maybe? Not looking forward to tomorrows market action.

I agree totally with this....how can this fix anything???

I thinks its just another escape route for all those trapped want to be sellers from the last quick drop....

Maybe i'm pessimistic? In any case, happy to be on the sidelines, too busy to trade, only time to save.

Cheers,

 

[sassa]

So what happens the day after this has time to sink in and cooler heads have had time to digest the ramifications of all this? Time to take some profits maybe? Not looking forward to tomorrows market action.

Hi Uncle,
Don't know about taking profits.Am a believer in the futures.At 6.00a.m.(American Eastern Time) they have the DJIA up to 13893 and the SPI 200 to 6408.

 

[Wysiwyg]

This all has a striking similarity to a junkie getting a 'fix', only the short term gain still won't alleviate the long term pain brought about due to the housing bust. What the US Fed has actually said by caving in to the debt junkies is that the US is probably already in recession or so close as to be borderline. Helicopter Ben is showing his weak hand approach to solving this problem by throwing money from the virtual helicopter.

So what happens the day after all this has time to sink in and cooler heads have had time to digest the ramifications of all this? Time to take some profits maybe? Not looking forward to tomorrows market action.

What are you blokes going to do in a bear market?Tell everyone how things are going great and a bull run is just around the corner....lol


p.s. now would be a good time to pick up some cheap houses.

 

[Who Dares Wins]

A correction is heathly? I have also been waiting for a top has it happened?
They say a 10% correction to markets is healthy this may happen in two or three days!!!

Well, with all this talk of corrections, collapse, apocalypse, end of the world, 100 year bear markets etc........and then the Dow goes up 335? I'm surprised to say the least.

If thats a bad day I wouldn't mind seeing it it on a good day.

!!!!!!!!!

 

[wayneL]

Well, with all this talk of corrections, collapse, apocalypse, end of the world, 100 year bear markets etc........and then the Dow goes up 335? I'm surprised to say the least.

If thats a bad day I wouldn't mind seeing it it on a good day.

!!!!!!!!!

It's 'cause everybody is looking at the chart upside-down.

 

[Wysiwyg]

It's 'cause everybody is looking at the chart upside-down.

The old mirror in front of the screen trick hey.lol I remember magdoran mentioning that for seeing reverse head and shoulders I think.

 

[dhukka]

God bless America.When the Americans do something they don't do it in halves.There was a severe market correction overnight and in the opposite direction to what this thread was referring to.Such an uptrend from 2.15pm to the close of market is probably unparalleled in the Dow.Was this a knee jerk reaction?Will the Dow continue to climb to the 14000 mark that some writers in this forum have been predicting?Will the market subside in the next weeks?
Thoughts please.

Sassa obsessing over the day to day fluctuations in the Dow or any other index for that matter doesn't tell you anything. At best it is short term noise. Apart from the psychological effect what has the Fed's rate cuts accomplished?

You may not have seen amidst the euphoria of helicopter Ben's antics that housing foreclosures approached a quarter of a million in August up 115% on the previous year and 36% on the previous month. Also consider that August numbers are before the first wave of ARM resets.

Also slipping under the radar was builders sentiment now at it's lowest point ever since it was first measured back in 1985.

Just out 10 minutes ago, Housing starts down 2.6%, building permits down 5.9%, both are at their lowest levels since June 1995.

The USD hit a 15 year low yesterday against a basket of the most commonly traded currencies, does this help the US consumer? Retails sales are already struggling, now consumers are facing higher gas prices as oil punches through $82 a barrel. Employment looks shaky, corporate profits are peaking. Out today, Morgan Stanley's 3Q07 profit was off 17%.

In short all the fundamentals pointing to a significantly weaker US economy going forward are still in place. Fed rate cuts did not change any of that, as if they could.

 

[sassa]

Sassa obsessing over the day to day fluctuations in the Dow or any other index for that matter doesn't tell you anything. At best it is short term noise. Apart from the psychological effect what has the Fed's rate cuts accomplished?

You may not have seen amidst the euphoria of helicopter Ben's antics that housing foreclosures approached a quarter of a million in August up 115% on the previous year and 36% on the previous month. Also consider that August numbers are before the first wave of ARM resets.

Also slipping under the radar was builders sentiment now at it's lowest point ever since it was first measured back in 1985.

Just out 10 minutes ago, Housing starts down 2.6%, building permits down 5.9%, both are at their lowest levels since June 1995.

The USD hit a 15 year low yesterday against a basket of the most commonly traded currencies, does this help the US consumer? Retails sales are already struggling, now consumers are facing higher gas prices as oil punches through $82 a barrel. Employment looks shaky, corporate profits are peaking. Out today, Morgan Stanley's 3Q07 profit was off 17%.

In short all the fundamentals pointing to a significantly weaker US economy going forward are still in place. Fed rate cuts did not change any of that, as if they could.

But all this information, available to the premarket, has not had any deterrance whatsoever.The futures have increased from 44 to 60 since this became known and one trader on CNBC predicted the breaking of the 14000 today.Also,the European markets continue to gather strength.If all the fundamentals of a weaker U.S.going forward are in place,why aren't the markets reflecting this with either caution or a downward trend?

 

[explod]

But all this information, available to the premarket, has not had any deterrance whatsoever.The futures have increased from 44 to 60 since this became known and one trader on CNBC predicted the breaking of the 14000 today.Also,the European markets continue to gather strength.If all the fundamentals of a weaker U.S.going forward are in place,why aren't the markets reflecting this with either caution or a downward trend?

Yes Sassa, the sheeple of the US follow the Wall Street propaganda as you obviously do too. The dropping of interest rates is what got the US into trouble in the first place and the new drop will only increase the pain and make the ultimate recession much worse.

Yep the market is intoxicated on any positives and ingnore the problems at thier peril. Investors you would think would wise up, I have no sympathy for their stupidity. It is the ordinary innocent hard working people at the bottom of the food chain who I feel for in the coming period

 

[dhukka]

But all this information, available to the premarket, has not had any deterrance whatsoever.The futures have increased from 44 to 60 since this became known and one trader on CNBC predicted the breaking of the 14000 today.Also,the European markets continue to gather strength.If all the fundamentals of a weaker U.S.going forward are in place,why aren't the markets reflecting this with either caution or a downward trend?

Sassa,

I don't think you get my point, the day to day movements in the stock market, or futures market are largely irrelevant. They tell you very little about the longer term direction of the market, which I gather is what you're interested in, is it not?

Sure if you are a day-trader then the daily machinations of the market and individual stock prices are your primary focus.

Why did the subsequent meltdown of the tech boom take so long to materialize when the fundamentals were in place months beforehand?

With your current obsession of focusing on the opening price for the DOW or ASX futures you'll never see anything coming past tomorrow.

 

[Wysiwyg]

What I see some trying to say is the top is now and it`s hello `02` again.They might be right and only time wll tell.

p.s. an `04` `05` trend would be healthy overall.yes.

 

[Wysiwyg]

But then again it is a different crowd from last century.Youthful exuberance?Changed schooling?Information more rapid?More/easier credit to play with?Live now pay later attitude?

Yes indeedy david,without solid foundations ... the building remains shaky.

 

[Who Dares Wins]

So what happens the day after all this has time to sink in and cooler heads have had time to digest the ramifications of all this? Time to take some profits maybe? Not looking forward to tomorrows market action.

Well with the Dow potentially up again do you know what its time for all you bear market rampers to do now? Its time to stand up and say:

WRONG AGAIN.

Oh, whats that.........tomorrow night did you say.

 

[wayneL]

Well with the Dow potentially up again do you know what its time for all you bear market rampers to do now? Its time to stand up and say:

WRONG AGAIN.

Oh, whats that.........tomorrow night did you say.

:sleeping:

I told you already, everybody is looking at their charts upside down.

 

[bean]

Well with the Dow potentially up again do you know what its time for all you bear market rampers to do now? Its time to stand up and say:

WRONG AGAIN.

Oh, whats that.........tomorrow night did you say.

Why the US is deteriorating into a recession. Word Inflation spiralling out of controll. World wide housing and financial crisis I haven't mentioned everything and the list is growing by the day.

The DOW may well rise another two or three days. 'So what' reality will hit and when it does don't say you weren't warned.