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Dow down 2.94% within the first hour open.... Looks like its going to crack the 10,000...
Looks like we're in for more of the same on Tuesday
- Thread starter Rastan
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How insightful, but do we really need a new thread on the minute by minute permutations of the market?
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Yeh sorry - I get your point - I suppose its because I have never in my life processed money at such a fast rate... watching it unfold is surreal until I remember just how much money it is and how long I need to work to possibly earn it again... its not like this is just your normal dip...
Yeah you don't get to see this very often, a good experience to learn from IMO.
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The question I have for people...... is that is it really justified the Australian market following the US like a sheep? aren't our fundamentals supposed to be a lot more solid?
so is this just fear and panic? or is it fully justified?
One scenario I would have thought may have occured is that there would have been a shift into Australian equities for example.
so is this just fear and panic? or is it fully justified?
One scenario I would have thought may have occured is that there would have been a shift into Australian equities for example.
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Hi Nicks, The Aussie$ is tanking and that may be mainly because money is being taken off the table by foreigners, and repatriated. The Aussie economy is probably among the safest and best in the world now, mainly because economies like the UK, Germany, Spain, Italy are looking dire.
The low Aussie$ is great saver for the mining industry, those mining in Australia that is, and many, especially coal miners will have a great year in 2008/9.
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Hi Noirua - yes I thought the low AUD woul d have been great - but the miners (where I had shifted a lot of my poertfolio into) are taking an absoulute pasting along with everything else, in fact even worse.
I guess oil and Uranium dropping hurts BHP a little, but I would have thought that the falling AUD would be a boom for BHP, RIO, Gold companies etc etc.
I guess oil and Uranium dropping hurts BHP a little, but I would have thought that the falling AUD would be a boom for BHP, RIO, Gold companies etc etc.
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Always difficult this Nicks, remembering 1987/88 when many jumped back in sooner than they should have. Everything you say is right, but if panicky and forced sellers continue to unload, stocks get cheaper.
Interest rates should plummet and inflation too, then we are all guessing that now anyway.
I will be buying some mining stocks during Tuesday, not much stock in each, as there are many loaded with cash and set to pay higher dividends, not lower. For the brave I suppose or some might say foolhardy.
Good luck
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Remember commodity prices are down. Oil used to be US$148 per barrel. Now it is US$88 a barrel.
Trembling Hand
Can be found on the bid
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You have it around the wrong way. the AUD is tanking because everyone (the evil hedge funds) are taking their ball and going home. And there is a reason they are going.
theasxgorilla
Problem solved... next bubble.
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Because they knew in advance that the rate cuts were coming???
