The stock market is crashing....

[wayneL]

@ stock market close:

Dow -207 points

S&P500 - 22 points

SPI on SYCOM dipped its toe under 5100 ... -99 points ATM

June Gold @~686

Jun Crude < 69

:fan

 

[wayneL]

@ futures close:

Dow -234 points

S&P500 - 25.25 points

SPI on SYCOM dipped its toe under 5100 ... -105points ATM

June Silver < $13

:fan

 

[tech/a]

Business today will not be profitable.
Business this week wont be either.
Generally business has been spectacularly profitable.

Perspective.

 

[mit]

ohh the pain, the pain of it all

Although I agree with tech, even if I am stopped out to cash today and over the next couple of days, it's been a very good year.


but for today

ohh the pain the pain.

Michael

 

[wayneL]

Well what looked like being an inside day on the US exchanges turned into a late slide.

The bulls have been religiously buying dips before this weeks tankage and I was half expecting themto turn up late in the session. But instead we had another little bear party.

I'm delta neutral at the moment so it doesn't worry me which way it goes, but boy is it looking sick

Cheers

 

[Mumbank]

Mmmm its Friday and the news is not looking good. I think I'll jut ignore it all, get some work done and take my son to lunch at the pub, finish early its almost the weekend.

Lets hope it all gets better next week. Some positives would be good.

 

[mit]

Mmmm its Friday and the news is not looking good. I think I'll jut ignore it all, get some work done and take my son to lunch at the pub, finish early its almost the weekend.

Lets hope it all gets better next week. Some positives would be good.

I think today will be a flat day rather than another drop

MIT

 

[tech/a]

The quick drop before close in the US has me thinking there is more downside to come.
Was there some late news?/figures?

4800 on the Aussie market is the tipped corrective value.

 

[noirua]

http://www.aireview.com.au/index.php?act=view&catid=8&id=3898&setSub=1

http://www.hargreaveslansdown.co.uk/news/expert_views/index.asp?code=2312

 

[IGO4IT]

Interesting read on gold stocks & how gold could go! Analysts say we could be as far as few days from an upwards reverse.

http://www.gold-eagle.com/editorials_05/hommelberg052006.html

cheers,

 

[wayneL]

Folks,

The SPI just ticked under 5000.

US futures are off 1/2 - 3/4% WELL before the open.

I don't follow the European indices, but they must be bathed in red, for the above to be occurring.

Ohh.... and June Gold is < $640

Looks like the bears have the bulls in a wristlock.

 

[noirua]

Mining stocks continue down on the LSE on Monday, between 2% and 6%. The decline is due to worry over metal prices and forecasts of further falls on the NYSE later. Gold fell to US$643.80 and other metals declined with it.

 

[IGO4IT]

Mining stocks continue down on the LSE on Monday, between 2% and 6%. The decline is due to worry over metal prices and forecasts of further falls on the NYSE later. Gold fell to US$643.80 and other metals declined with it.

A HOT battle happening now in GOLD sales & it looks like bulls are having an attempt to gain control. (currently $645)

Gold was at $646 at ASX close today, if by tomorrow morning we're not at least $660 then we're having another misery on resources stocks to continue the misery we had today.

 

[noirua]

A HOT battle happening now in GOLD sales & it looks like bulls are having an attempt to gain control. (currently $645)

Gold was at $646 at ASX close today, if by tomorrow morning we're not at least $660 then we're having another misery on resources stocks to continue the misery we had today.

http://news.ft.com/cms/s/5de51fd0-e97a-11da-a33b-0000779e2340.html

 

[nizar]

4800 on the Aussie market is the tipped corrective value.

Agree 4800-4900 is what i was thinking

 

[tech/a]

One last exhaustive move in it I feel.

The DJIA recovered from over 100 pts down to 18 pts down.
Showing some recovery.

Wayne and the Bears have been stampeding.
Bloody costly exercise--

Wonder how many of the predictive guys have shorted Commodities and indexes? From the get go.

Havent seen any posted live to follow.

Radges Elliot number of 5300 is pretty good now under 5000--- thats a good drink--

 

[GreatPig]

Radges Elliot number of 5300 is pretty good now under 5000--- thats a good drink

Especially if he still has that index short on.

GP

 

[professor_frink]

markets are similar to 87 crash reports sunday times


http://www.timesonline.co.uk/article/0,,2095-2189601,00.html

A report by Barclays Capital says the run-up to the 1987 crash was characterised by a widening US current-account deficit, weak dollar, fears of rising inflation, a fading boom in American house prices, and the appointment of a new chairman of the Federal Reserve Board.

Apart from the similarities in economic conditions, during the run-up to the 1987 crash there was a sharp rise in share prices worldwide and weakness in bond markets

 

[noirua]

" Sit tight and don't lose your mettle "

http://www.theaustralian.news.com.au/story/0,20867,19224297-643,00.html

London is up 2.30% ( FTSE 100 ) after 6 hours trading, gold at US$661.70. Xstrata up 8%, Anglo American up 6.5%, Merrill Lynch World Mining IT up 6.5%, Lonmin up 10%.

 

[mit]

US Market unfortunately took a dive just before the bell.

MIT