Imminent and severe market correction

[Kauri]

US ECON: Terrible Data on Starts and Permits
Cheers
.........Kauri

 

[Seaking]

US ECON: Terrible Data on Starts and Permits
Cheers
.........Kauri

A 100 pt rise on the weakness of the news...

 

[Kauri]

A 100 pt rise on the weakness of the news...

Got me...
The sharp fall in housing starts of - 14.2, much worse than -3.7% expected, was followed by a sharp revision lower in November as well but so far, is getting little attention from the market.
Cheers
...........Kauri

 

[Whiskers]

Gonna be a wild night. Market seems determined to go somewhere tonight. DOW early abt +100 to -50 back to + 80....

 

[Seaking]

Dow seems to have a bit of a Hangseng look about it tonight. Bit hard to hang onto atm..

 

[Kauri]

US bond yields have plummeted on Bernanke"s comments this morning as he vows substantive rate cuts if needed and that downside economic risks are more pronounced.
Adding to pressure is the fall in the Philly Fed index to -20.9 v. -1.5 expected, adding to the negative, recessionary outlook.

Good nightie :sleeping:
.............Kauri

 

[chops_a_must]

Is Bernanke crying/ close to tears?

 

[ithatheekret]

Yes , he was just accused of working for Goldman Sachs , congressional insults , he's a Princeton pauper .

 

[Kauri]

Greasing the Ski's for the downhill slalom...

An interesting theme emerging from all Fed speakers today, Pianalto, Fisher and Bernanke is a focus on the USD. Pianalto stated that the USD decline since 2002 has been orderly but notes that the falling dollar is an inflation risk and is not sure whether the decline is aiding US manufacturing. Bernanke stated that if the Fed does its job, that the dollar will reflect the economic strength while Fisher has stated that they will not do anything to shake the faith in the USD. Overall, this is not really talking the USD up and suggests little concern so far regarding overall USD weakness.

 

[ithatheekret]

At least he put the 50 bps in the bag , it's a cert , I did mention Princeton , a lot Keynesians went there , they had to pass the induction test first .

 

[theasxgorilla]

Bye bye world equity markets...of course this thread was started back in April '07, but what's it matter being a few months out? We all knew it was coming, right??

 

[ithatheekret]

The go team

 

[Uncle Festivus]

Bye bye world equity markets...of course this thread was started back in April '07, but what's it matter being a few months out? We all knew it was coming, right??

Well yes . We sorta had the correction (10%?), maybe now it should read crash? Actually, the writing was on the wall back in the first correction in March 07, which signalled the credit contraction, and the start of the bear market, even though we had a dead bull bounce. If we don't get some sort of relief rally then the bull is indeed dead!?

ithatheekret - should be "The Gone Team"!

 

[theasxgorilla]

"Soft-landings are for girly men"

 

[wayneL]

An omen in today's hard landing?

 

[Awesomandy]

Ironically, that plane is just a tad older than our (ex?) bull market.


Apparently, it lost all power when the landing gear was extended. Just when you thought you are going to have a nice soft landing, it fell, and went smack into ground.

 

[wayneL]

Ironically, that plane is just a tad older than our (ex?) bull market.


Apparently, it lost all power when the landing gear was extended. Just when you thought you are going to have a nice soft landing, it fell, and went smack into ground.

Allegorical.

 

[explod]

Well yes . We sorta had the correction (10%?), maybe now it should read crash? Actually, the writing was on the wall back in the first correction in March 07, which signalled the credit contraction, and the start of the bear market, even though we had a dead bull bounce. If we don't get some sort of relief rally then the bull is indeed dead!?

ithatheekret - should be "The Gone Team"!

Looks as the a head and shoulders could be playing out, a short rally in the next week or so and then continue down to 10500 area, maybe.

 

[OK2]

Is the current situation still called a correction or what is the correct terminology for it? There is a term for everything else, what is this versions of what is happening.......ie, dotcom

 

[dhukka]

Whether you've tried to preempt the change in sentiment as many of us have, or not, I still see this current move as sideways.

Are we still moving sideways ASXG?