The stock market is crashing....

[the barry]

Every time australia has a bad day, the rest of the world just crumbles apart. I swear we are the centre of the financial universe lately!

That is so far from the truth it isn't funny. Every correction we have had of late is in response to a correction os.

 

[Mousie]

You guys realise something?

Was expecting Comsec to be down intermittently at least, but nothing of that sort happened.

Don't think they'll be that efficient to upgrade the system in just a few days given what happened beginning of March, so it can only mean fewer people are selling this time, and you know what that means...

 

[mrWoodo]

Don't think they'll be that efficient to upgrade the system in just a few days given what happened beginning of March, so it can only mean fewer people are selling this time, and you know what that means...

Was thinking exactly the same thing this morning on NAB Online. Having said that tho, technically if their system is built right, it's a simple matter of adding more web/app/database servers to their 'farm' to take the load.

 

[Kauri]

You guys realise something?

Was expecting Comsec to be down intermittently at least, but nothing of that sort happened.

Don't think they'll be that efficient to upgrade the system in just a few days given what happened beginning of March, so it can only mean fewer people are selling this time, and you know what that means...

The first hour of trading... note yesterdays XJO total vol was 583,000,000... so we did 33% of that in 1 hour.

 

[Atomic5]

Are we seeing 2 dead cat bounces???!? You normally only get one before the market capitulates ???

The Nikkei is currently down 500 points, and tommorrow General Motors release their $data regarding their exposure to the subprimes. They are supposedly down US$1bn there.



Just MHO - Please DYOR

 

[Sean K]

Are we seeing 2 dead cat bounces???!? You normally only get one before the market capitulates ???

2 dead cats?? What do you mean? We've had the bounce to 6850 ish. Now it's going down....

 

[noirua]

No need to worry, the ASX 200 is only due for a fall to the 5,000 to 5,200 range...

 

[Atomic5]

2 dead cats?? What do you mean? We've had the bounce to 6850 ish. Now it's going down....

None of the small cap stocks that I am watching are selling off. They dipped just after open and then regained and are holding.

Nikkei went to almost -500 just after open and the ASX didnt blink.
Hang Seng in 15 minutes. ?

My point is that there is usually only 1 dead cat bounce, but I'm getting the feeling we're going to see a lot of dead cats before any Chinese rates rise really kills this.

Just MHO - Please DYOR

 

[noirua]

Australian Consumer Confidence rose to a 19 Month High, reported on Bloomberg.

 

[Kauri]

None of the small cap stocks that I am watching are selling off. They dipped just after open and then regained and are holding.

Maybe a lot of the recent perma-bull punters are ignoring the drop, reasoning that it has just dropped and recovered once already, also having possibly bought/topped up at bargain prices. If we have another day or three going south..... the crowd may move???

 

[noirua]

Hang Seng down 2.86%, ASX 200 down 2.00% and Nikkei down 2.98%

 

[nomore4s]

Maybe a lot of the recent perma-bull punters are ignoring the drop, reasoning that it has just dropped and recovered once already, also having possibly bought/topped up at bargain prices. If we have another day or three going south..... the crowd may move???

I think maybe alot of people are more prepared for this drop (ABC correction), has been on the cards for awhile.

 

[Atomic5]

Australian Consumer Confidence rose to a 19 Month High, reported on Bloomberg.

I don't doubt it. Comes from living on an island maybe. No-one else feels this brave right now.

Can't see Australia floating through this alone long-term though.

Just my humble opinion


Edit: just saw it on Bloomberg; high confidence, low inflation, investors coming back to the real estate market, and they expect rain!

 

[professor_frink]

None of the small cap stocks that I am watching are selling off. They dipped just after open and then regained and are holding.

Nikkei went to almost -500 just after open and the ASX didnt blink.
Hang Seng in 15 minutes. ?

My point is that there is usually only 1 dead cat bounce, but I'm getting the feeling we're going to see a lot of dead cats before any Chinese rates rise really kills this.

Just MHO - Please DYOR

The opening gap on the nikkei rarely has an impact on our market-it was obviously going to gap down this morning, no surprises there. However, when the nikkei turns intraday, we've been following of recent times. It was pointed out in the spi thread recently. This morning was no exception- the nikkei futs found resistance at 16775, then started heading lower, 10 minutes later, the spi went south with it, and lost 25 pts.

 

[noirua]

Another sea of red.
Markets are generally gloomy across the board. The London FTSE closed at a low point down 2.6%, down 160.5 points, and the Dow followed the same path, down 92.29.
Difficult to give an ASX 200 forecast as the Dow closes in about 4 hours.

Major Mining stocks fell 4% to 7% as the sector turned decidedly bearish. Financial stocks fell heavily in Europe as markets turned bearish towards the close after an early recovery.

 

[nirama]

what rubbish are you talking about

at close of trade DOW Jones up 57 points......!!!!

The screen could be GREEN today.....

good luck to all...

 

[Rob_ee]

what rubbish are you talking about

at close of trade DOW Jones up 57 points......!!!!

The screen could be GREEN today.....

good luck to all...

Don't blame noirua to much
A wild 200 pt swing from its lows ... seems like someone is playing with the markets over there... never can tell what the yanks will do from day to day.

It seems that all the factors that caused the 250 drop yesterday have been fixed overnight and its bussines as usual.

Watch and learn

Rob