The stock market is crashing....

[tech/a]

Silver down more than 11%

Gold down >$25

We might get our crash after all (just {half} joking )

Ahhhh

Buying opportunities!!

 

[wayneL]

Ahhhh

Buying opportunities!!

Not Yet!

Let's shake out the weak hands!

Let's let it run down a bit more, then, yes.

 

[wayneL]

Silver actually went limit down (explained in the article)

http://yahoo.reuters.com/news/artic...TFH05232_2006-04-20_17-45-43_N20489079&rpc=44

As it stands now:

June Gold 616.8 -3.05%
May Silver 11.935 -17.67%!!!!!!!!

May Unleaded Gasoline down 6% BTW as well

Well we got a crash in something!!!

 

[nizar]

Silver actually went limit down (explained in the article)

http://yahoo.reuters.com/news/artic...TFH05232_2006-04-20_17-45-43_N20489079&rpc=44

As it stands now:

June Gold 616.8 -3.05%
May Silver 11.935 -17.67%!!!!!!!!

May Unleaded Gasoline down 6% BTW as well

Well we got a crash in something!!!

Yeh this morning gold at 612, where we were april 18th (US time) so not a major correction, but it still may go down more...

JUst like in december when gold went from 540 to 495 and then recently from 575 to 540...

All bull runs have corrections, they provide buying opportunities and chances to top up before the next leg up...

 

[markrmau]

Looking a bit sik

Do you think the limit down halt really achieved anything? Seems the market continued it's trend down anyway.

 

[bullmarket]

Hi BSD

Good Evening bullmarket.

Not in violent disagreement and thanks for your attention to detail.

But if the risk free rate becomes 6%, an equities market with a PE at above 16 times needs good growth prospects to be a worthy play.

Setting aside the resource sector - where is the growth coming from?

It isnt from the domestic economy that is for sure.

I remember in 2002 trying to get clients to buy stocks with PEs of 12 and EPS growth of 20%pa.

How a bullmarket changes the mindset. We switch from absolute to relative value.

18 times is bloody expensive in my opinion.

no problem - I think we are essentially in agreement.

Where we mainly differ is in the relative overall 'expensiveness' (if there's such a word ) of the market atm and hence the likely severity of any correction when it occurs.

cheers

bullmarket

 

[wayneL]

US markets have had a shocking week with two big downs days.... us bears are salivating. The matador has sharpened his sword and the picadors have landed some spears in the bulls shoulder.

Meanwhile we've got the bond market by the throat... significant new lows today.

We live in interesting times.

Cheers

PS the t-bones are already on the barbie in the middle east.

 

[tech/a]

Gotta say Im pretty impressed with some of the calls from the Elliot Boys.

Radge Called a 5300 top months ago.
Seen a few others mention it.
Yogi the wonder trader mentioned something about time as well.
The analysis at this point looks pretty good.

 

[markrmau]

spx trend doesn't look too bad in us$ terms.

Wouldn't like to see the chart compared to the DX currency basket though!

 

[tech/a]

A look at the DJIA

 

[astroboydivx]

On the other hand 16 pages of
Economic Boom till 2020.

http://www.wired.com/wired/archive/5.07/longboom.html

Peter Schwartz and Peter Leyden are no economic slouches either.

I got up to page 3 before realising that article was from 1997!

 

[tech/a]

Hmmm Support/Resistance line at 11335

Todays low was 11333

 

[websman]

Interesting... It may be time to find some short setups.

 

[ctp6360]

tech/a I think we might have been right about yesterday being a golden buying opportunity!

 

[professor_frink]

tech/a I think we might have been right about yesterday being a golden buying opportunity!

futures were down about 50 points overnight. may be more selling to come.

 

[Sean K]

6-8% is technically a 'correction'. How much more is that to go? 4-6% I think.

 

[tech/a]

ctp6360

Hmm dont know about "golden"
I actually favor Web's outlook at this time.
Most corrections are in 3 waves or 5

The Elliot callers are saying 4800 for the wave 4 correction then followed by the last wave 5 which will take out the current high.

(I'm talking of the XAO not the DJIA).

 

[bullmarket]

I use the weekly XJO chart and so over the next few weeks I'll be watching to see if the ~5150 support in early April06 is retested. If it is and fails to hold then the next level of support I'd be looking at is the Jan/Feb06 trading range of 4800-5000.

Good to see the more defensive LPT sector (XPJ) is holding up well

And remember, we have been in a roaring bull market since March 2003

cheers

bullmarket

 

[wayneL]

US futures are in tankage mode prior to the open of the stock market.

... inflation , and therefore rising interest rates are the fear apparently

A Bears delight

 

[noirua]

BHP fell 4.62%; Xstrata 5.28%; Anglo American 5.6%; Rio Tinto 5.8%; and Royal Dutch Shell 4.10% as the FTSE 100 fell and the NYSE continued down at the LSE close.