Markets in Meltdown

Society Business and Career
21

Re: Markets in Meltdown

^ I hope you didnt take your hubby's advice. :D

22

Re: Markets in Meltdown

Looks like the markets were not impressed with the 75 basis point cut by the federal reserve bank yesterday. A desperate and panic measure never soothes the markets, Fed should have known better. They have succeeded in temporarily halting what could have been a massacre on the American markets yesterday but the medium term prospects don't look good.

~**~ Aaaj aap ne Dinner main kaya khaya ~**~
23

Re: Markets in Meltdown

Volatile market is my kind of market......Just a little market research can do wonders......Little tip.........Although the market is hugely under valued and recession is setting in, Try analysing GM stocks. It is one of the largest corporations in the world and I bought 1200 of them at 22.27 two days ago.....According to me, the regular pricing for this stock even on a bad market is atleast 26. Even if it dropped any further it would be hardly 2-5%......and today that stock is priced at 24.2+ after two days of bearish market. I have been watching some more stocks which are valued on the dirt level....the only way for it is to go up....regardless of the market trend..........WARNING: Day Trading is a kind of gambling the only difference is that you can increase your odds by doing a little market research.

24

Re: Markets in Meltdown

Wall Street Resumes Selloff

Wall Street was once again seeing red Wednesday as a warning from Apple, weakness in European markets and continuing concerns about a recession kept sellers in charge. The Dow Jones Industrial Average was losing 108 points, or 0.9%, to 11,863. The blue chip average fell by as many as 264 points at the open, weighed by losses of 3.3% or more in components Hewlett-Packard, Merck and AT&T.
Elsewhere, the S&P 500 was down 13.5 points, or 1%, at 1297, and the Nasdaq Composite was shedding 34 points, or 1.5%, to 2258.
If the major indices were to close lower, it would be the sixth straight day of losses.
“Technically, investors want to see a real test before being convinced,” said Marc Pado, U.S. market strategist with Cantor Fitzgerald. “There are still deep-seeded concerns over forward-looking earnings prospects.”
During the previous trading session, the broad averages plummeted at the open on recession fears and deep losses overseas despite an emergency 75-basis-point rate cut by the Federal Reserve, but the U.S. market recovered much of the initial decline.
The Dow dropped as many as 464 points early before ending down 128.11 points, or 1.06%, to 11,971.19. It was the first time the Dow closed below the 12,000 level since November 2006. The S&P 500 fell 14.69 points, or 1.11%, to 1310.50. The Nasdaq fared the worst, sliding 47.75 points, or 2.04%, to 2292.27.
Following the closing bell, Apple offered fiscal second-quarter guidance that was below analysts’ expectations. Shares were tumbling 12.3% to $136.43 despite a banner first quarter for the iPod, Mac and iPhone maker.
European stocks were hit hard as the European Central Bank declined to follow the Fed’s lead and cut interest rates. Germany’s Xetra Dax was falling 2.8%, while the Paris CAC 40 and London’s FTSE 100 were lower by 3%.
There was some positive news from Asia, as Hong Kong’s Hang Seng saw its biggest point gain ever, rising 10.7% after two days of heavy selling. Japan’s Nikkei 225 added 2%, and other indices in Australia, India and Indonesia surged overnight.
Texas Instruments was another bright spot after posting a fourth-quarter profit late Tuesday that rose 13% from a year ago. Results beat the Thomson First Call average estimate for earnings. Shares of TI were rising 55 cents, or 1.9%, to $29.53.
Financial stocks also helped pare the overall losses. Bear Stearns added 7.5%, Bank of America, Wells Fargo and Countrywide Financial were up 3.4% or more.
Meanwhile, traders were contending with several other earnings reports. Motorola tumbled 15.9% to $10.36 after posting a fourth-quarter profit that fell sharply from a year ago. The handset maker also offered first-quarter guidance that was short of expectations.
On the bright side, Pfizer , ConocoPhillips, Coach and United Technologies posted results that exceeded estimates.
“The market sentiment is overly bearish and until that runs its course, we’re in for rocky days ahead,” said Peter Cardillo, chief market economist with Avalon Partners. “The focus is now on earnings and, more specifically, weak guidance.”
After the closing bell, eBay , Capital One Financial and Qualcomm are set to post earnings.
Away from equities, Bloomberg reported that Merrill Lynch halved its forecast for U.S. growth and is now expecting that gross domestic product will rise 0.8% for the year.
** U.S. Treasury prices were surging. The 10-year note was up 17/32 in price, cutting the yield to 3.38%, the lowest in more than five years. The 30-year bond was rising 13/32 in price, yielding 4.17%. **
Commodities were mixed. Crude oil dipped 95 cents to $88.26 a barrel, while gold futures were up $4 to $894.30 an ounce.

http://www.thestreet.com/_htmlmdb/markets/marketstory/10399920.html

25

Re: Markets in Meltdown

Police secure Ahmedabad Lake after Bombay Stock Market Crash

What is the relation between a Lake and the Stock Market, you ask !..read on :

26

Re: Markets in Meltdown

^ I shouldn’t laugh but :rotfl:

27

Re: Markets in Meltdown

Indian stock investors, I think, are playing to the classic "PUMP and DUMP" strategy of market manipulators.

The strategy is best explained by the following story circulating on the web :

Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for $10. The villagers seeing that there were many monkeys around, went out to the forest and started catching them.

The man bought thousands at $10 and as supply started to diminish, the villagers stopped their effort. He further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished even further and people started going back to their farms.The offer rate increased to $25 and the supply of monkeys became so little that it was an effort to even see a monkey let alone catch it.

The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now buy on behalf of him.In the absence of the man, the assistant told the villagers...Look at all these monkeys in the big cage that the man has collected.... I will sell them to you at $35 and when the man returns from the city, you can sell it to him for $50. The villagers squeezed up with all their savings to buy the monkeys. Then they never saw the man nor his assistant, only monkeys everywhere!!

28

Re: Markets in Meltdown

Alright guys....as per my earlier post ..GM has finally touched to its actual value which $ 26. I think I am going to bail out...already made $3000 + in two days that too in a bearish market where DJ dropped atleast 250 points. I love this market, I hope this volatility last for few more days...Happy safe trading !

29

Re: Markets in Meltdown

good one, market manipulations happen big time in every srtock exchange, the large funds have massive power, and theyuse it to manipulate markets

30

Re: Markets in Meltdown

A massively volatile day on dow jones just ended with the market crashing 300 points down on the opening only to recover and close up 299 points. A move of 600 points in total, now that is volatility and if you are not in the right direction or nimble enough you would as a day trader have burned your fingers. Be safe and be cautious in these markets.

31

Re: Markets in Meltdown

^ Yes , today was a roller-coaster day indeed.

Anyways, here is another story doing the rounds of the internet about how the Stock Markets work :

*It was autumn, and the Red Indians on the remote reservation asked their New Chief if the winter was going to be cold or mild. Since he was a Red Indian chief in a modern society, he couldn’t tell what the weather was going to be. Nevertheless, to be on the safe side, he replied to his tribe that the winter was indeed going to be cold and that the members of the village should collect wood to be prepared. *

But also being a practical leader, after several days he got an idea. He went to the phone booth, called the Weather Bureau and asked, “Is the coming winter going to be cold?”

*“It looks like this winter is going to be quite cold indeed,” the meteorologist responded. So the chief went back to his people and told them to collect even more wood. A week later, he called the weather bureau again. “Is it going to be a very cold winter?” “Yes,” the man replied, “it’s definitely going to be a very cold winter.” *

The chief again went back to his people and ordered them to collect every scrap of wood they could find.
*Two weeks later, he called the weather bureau again. “Are you absolutely sure that the winter is going to be very cold?” “Absolutely,” the man replied. “It’s going to be one of the coldest winters ever.” “How can you be so sure?” the chief asked. The weatherman replied, “The Red Indians are collecting wood like crazy.” *

This is how stock markets work!

32

Re: Markets in Meltdown

hahahahaah too good and on the mark

33

Re: Markets in Meltdown

Well yes it may be 600 points move but after crashing to 300 points in the morning it recoverd to almost flat by lunch and then dropped to 270s again, only to end the day 300 points up. Riding a tsunami is a piece of cake compared to a day like today.

Good call on GM Rocking Vibes, when the GM global numbers came out yesterday, I thought about your post and how a brother is making money.

I used to day trade but had to pull all my money out of the markets to buy ISE membership. So right now I have nothing invested except my 401k. Since my company matches it by 8%, I am not losing anything technically and surely the markets will recover some from where they were a few days back. I am sure of this. I will sit tight for a few months, three to six, and then increase my contribution to take an advantage of the fire sale. Lets see how it goes.

Moderators: I flagged an unprovoked personal attack on this forum, uska kya hua?

34

Re: Markets in Meltdown

Abhi uss ko warning deta hoon. :D

35

Re: Markets in Meltdown

The ironic thing is that china and india [high rate growing economies] were thought to be insulated but I guess it is true, "We live in small world".

36

Re: Markets in Meltdown

As predicted....I bailed out on 26.3 which I assumed GM's current market value and today even after the markets uptrend GM stock have fallen down to 25.2.........Apart from that, I still think this is a super bearish market with DOW swinging 600 points in a couple of hours.....Feels like the big players are manipulating the market....and the reason I see for this manipulation specially yesterdays last hour swings is if DOW had closed 300 points down yesterday....that would have carried over to Japan...Taiwan...China....India and eventually would bite the DOW today creating a butterfly effect around the world. That last hour upsurge avoided another round of panic sell-offs...I am pretty sure the US govt is going to try to avoid the signs of recession by any which way being an election year...but don't know how it can avoid it....All the numbers look gloomy and no matter how much the DOW gains in the next 5-10 days it will eventually come down. So Long term investors stay away from the market if you are not already in it.

37

Re: Markets in Meltdown

The insulation is as bad as thin sheet of paper......India's and China's booming economy is 80% based on US economy. India leading the service sector and China the manufacturing sector....if US consumers stop spending on services and goods, India and China will lose respectively.

38

Re: Markets in Meltdown

You guys should give us some tips, so we could make some gas money too :D

39

Re: Markets in Meltdown

^ You would be getting a lot of gas money from the govt this year if you and yourwife jointly make less than $150,000 a year. You may get $1200 plus $300 per child back from the Govt this year. That shd atleast buy 6-8 months of gas for your gas guzzler !
I have a feeling that the mkts are going to do some drama at the end of the day today and shd close on the positive side.

40

Re: Markets in Meltdown

^ no money for me :(