Who is ready for a rally?

[MRC & Co]

Given it took 27 yrs for the market to get back to 1930 levels a 6 yrs after 1987 IF we do have a rally will it be a repeat or up a few % a day?
I reckons this one is Rudd backing the banks and down again Tuesday. Pity LNC didn't open today.

Given it took the Nikkei 20 years to get from 40,000 index points to 8,000, oh hang on

 

[SM Junkie]

I think I'll just be happy to see the market steady for a few days without any dramatic moves either way. If it goes up fast it will go down fast.

Bit of a side issue, but I think it is an interesting time for the Rudd government, this crisis may make or break his career. If we get through this without a recession, he'll been promoted as our great saviour. Alternatively if he fails, then he'll probably be fall guy who didn't have enough experience.

 

[Julia]

I
Bit of a side issue, but I think it is an interesting time for the Rudd government, this crisis may make or break his career. If we get through this without a recession, he'll been promoted as our great saviour. Alternatively if he fails, then he'll probably be fall guy who didn't have enough experience.

Yes, I agree with this. I've been critical of him and Swan but feel they have both performed well through this really challenging time.

I'm less impressed with Malcolm Turnbull apparently being unable to resist playing politics. If ever there was a time for a purely bipartisan approach, this is it.

 

[sammy84]

So we had our rally, now the next question is how long do people see this one lasting for?
The following has got me optimistic for a week long rally;
Dow futures are the highest they have been in a very long time
LIBOR has finally started to go downward- a little bit of confidence goes a long way
Gordon Brown is being hailed as the savior of capital markets.
A whole heap of analysts predicting the bottom seem were vocal today.

Or is this just unbridled optimism?

 

[Snakey]

I'm ready... I'm loaded to the eye balls with cfd's. to maximize my exposure.
Bought on Friday anticipating USA to bottom Friday night.
This is the bounce we've been waiting for IMO.
Dont miss the biggest trade of the year

 

[skyQuake]

Best trades of the year may have already passed, some REALLY good shorts there

 

[tech/a]

This has got 3 possibly 4 days in it.

 

[agro]

if this is the bear, people are selling on panic

imagine the bull, +700 in a day etc..

everyone ready for the next bull run?

well i was close, try +900

 

[prawn_86]

One more bank failure and this will just turn into another bull trap.

Or once that $700 bill comes into the US system im thinking that will cause some concern/uncertainty

 

[Speewha]

Hello,

Yes all primed ready to go, but nip and tuck for me. In and out, can't see that we are out of the woods yet. No such thing as long term anymore for this little black duck.

Good luck all.

Hope by the end of the week we will all be less hamstrung with shorting on the ASX due to return.


Regards

 

[Sean K]

One more bank failure and this will just turn into another bull trap.

I'm wondering how many more bank failures are already factored in?

 

[Prospector]

To put the current rally into some kind of perspective, last night on the ABC Marc Faber (Boom Doom and Gloom) said that prior to the depression of the 29/30's, the market fell a few months before, recovered by 50%, then fell 85%virtually overnight

 

[Schmuckie]

Perhaps we rally half the September/October losses after a volatile week or two, and then basically plateau with very, very small gains until all losses are covered after the coming recession ends. My guess is that Australia and Canada will both weather the recession storms a bit better (i.e., a milder recession, but still a recession) than the U.S. and Europe. This is not going to be a fast V-shaped stock recovery, but if the right policies are in place and there's a coordinated international effort, we won't have anything anywhere near the Dirty '30s either.

(As an aside, Fed Chair Ben Bernanke, a student of the Great Depression, and Hank Paulson just learned with 20/20 handsight that you can't let any big investment bank fail: another one for the textbooks.)

 

[Schmuckie]

I'm wondering how many more bank failures are already factored in?

I think more bank failures are already factored in, but they'll be the smaller, regional banks who's deposit-taking businesses can be bought out by the survivors. With almost universal deposit insurance, deposit holders under the limits won't be affected.

 

[JellySausage]

http://news.yahoo.com/s/ap/20081013/ap_on_bi_st_ma_re/wall_street

Manic Monday: Dow roars back from worst week ever

NEW YORK - Wall Street stormed back after its worst week ever and staged the biggest single-day stock rally since the Great Depression on Monday, catapulting the Dow Jones industrials to a 936-point gain and finally offering relief from eight consecutive days of stock market carnage.

 

[Temjin]

Well, even back in the great depression era, the longest bear market rally lasted a few months. So I am not surprised if we see a sustained rally for a few weeks or so.

 

[tech/a]

Pretty muted "Rally"

Nothing to get excited about.
Wouldnt be suprised to see the DOW down very soon.

 

[Wysiwyg]

Pretty muted "Rally"

Nothing to get excited about.
Wouldnt be suprised to see the DOW down very soon.

I wonder why the DOW took off and our market has wimped out?Usually some rough correlation between the two.

 

[Ageo]

Well, even back in the great depression era, the longest bear market rally lasted a few months. So I am not surprised if we see a sustained rally for a few weeks or so.

That might be correct but dont forget how long it took before they saw the previous peaks (about 20yrs i believe), but today's society is inflated with so much credit that i wouldnt be suprised if it was shorter (with a worser crash)

 

[Nyden]

Pretty muted "Rally"

Nothing to get excited about.
Wouldnt be suprised to see the DOW down very soon.

Agreed. In all honesty I'm thinking a heavy pullback tonight on the DOW ... 11%, utterly smacks of panic buying, not bargain hunting.