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 US Markets closed -- everybody else is getting hammered View next topic
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bdc63
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Joined: 16 Feb 2007
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US Markets closed -- everybody else is getting hammered
PostPosted: Mon Jan 21, 2008 4:45 pm Reply with quoteBack to top

The US market is closed today (MLK's b-day), but ...

Hong Kong, closed down 5.5%
China, closed down 5.1%
Japan, closed down 3.9%
Australia, closed down 2.9%
UK, down 4.7% (still open)
Germany, down 6.7% and off its lows (still open)
France, down 5.9% (still open)

The last time I saw moves that big happening everywhere, the tech bubble was deflating.

DOW futures are trading down 403 points (well now, THAT should make for an interesting open on Tuesday). We have blown through so many important technical levels over the past 3 weeks, that no one is sure where is "support" is anymore (although a source I like has short term support at S&P 1160).
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icenvegas
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Joined: 22 Nov 2007
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Re: US Markets closed -- everybody else is getting hammered
PostPosted: Mon Jan 21, 2008 4:51 pm Reply with quoteBack to top

I said a long time ago, and I am still confident in this statement, that should we hit a depression, we arent the only ones that are going to go down in flames, because so many other global entities are tied into our market.

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bdc63
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Re: US Markets closed -- everybody else is getting hammered
PostPosted: Mon Jan 21, 2008 4:58 pm Reply with quoteBack to top

icenvegas wrote:
I said a long time ago, and I am still confident in this statement, that should we hit a depression, we arent the only ones that are going to go down in flames, because so many other global entities are tied into our market.


Does that in some way bring you comfort?

Everyone will surely go through downturns, as the world's financial system is truly global and when the disease starts there, it will spread like peanutbutter on warm toast. But countries that are net-savers rather than net-spenders will be able to turn things around faster.
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icenvegas
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Re: US Markets closed -- everybody else is getting hammered
PostPosted: Mon Jan 21, 2008 5:04 pm Reply with quoteBack to top

comfort? on the contrary, I hate seeing all this happen.

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bdc63
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Re: US Markets closed -- everybody else is getting hammered
PostPosted: Mon Jan 21, 2008 5:39 pm Reply with quoteBack to top

I tell you what, if come tomarrow morning the DOW still looks set to open more than 400 points down, expect a full court press from Dubya and da boyz ...

- signed, sealed and delivered stimulus plan that bigger than anything anyone has talked about to date

- that "surprize" intermeeting rate cut that looked like it wasn't going to happen

- "somebody" (government? Goldman? Abu Dhabi?) stepping in to buy or bailout the monoline insurers


It is almost surreal to sit here and watch markets around the world get slaughtered while ours sits in limbo for the holiday. But on the bright side, it does give the government a free extra day to figure out how to f*ck things up more than they already are. Wink
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icenvegas
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Re: US Markets closed -- everybody else is getting hammered
PostPosted: Mon Jan 21, 2008 5:41 pm Reply with quoteBack to top

thats the part that scares me. Our gov't is gonna do nothing but put ALL of us into BK. I mean Dubya, has never been successful at Anything he's done.. and to think, I voted for him.

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Strouper2
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Re: US Markets closed -- everybody else is getting hammered
PostPosted: Mon Jan 21, 2008 5:57 pm Reply with quoteBack to top

ice said:
Quote:
I said a long time ago, and I am still confident in this statement, that should we hit a depression, we arent the only ones that are going to go down in flames, because so many other global entities are tied into our market.

and bdc asked
Quote:
Does that make you feel better?


Well h**l yeah misery loves company! I don't want to live in the only country in the world that's sucking it up do you? What sucks though is that we probably won't bring anyone down that's worth while like China or the Mid East but who knows we can only hope.

Strouper
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bdc63
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Re: US Markets closed -- everybody else is getting hammered
PostPosted: Mon Jan 21, 2008 6:16 pm Reply with quoteBack to top

Strouper2 wrote:
Well h**l yeah misery loves company! I don't want to live in the only country in the world that's sucking it up do you? What sucks though is that we probably won't bring anyone down that's worth while like China or the Mid East but who knows we can only hope.


LOL. Well, atleast you're honest. I'm not sure how I feel about it, to tell you the truth -- except that I'm angry. Very, very angry.
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dreamer
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Re: US Markets closed -- everybody else is getting hammered
PostPosted: Mon Jan 21, 2008 6:24 pm Reply with quoteBack to top

A big rally is a'coming from Da Boyz in the PPT. What I have seen in the past is the bigger the futures point down the more straight up the market.

My choice is gold and silver shares and GDX calls as I find it easier to ride the Bull than play with Bears...short or long.

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bdc63
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Re: US Markets closed -- everybody else is getting hammered
PostPosted: Mon Jan 21, 2008 7:01 pm Reply with quoteBack to top

dreamer wrote:
A big rally is a'coming from Da Boyz in the PPT. What I have seen in the past is the bigger the futures point down the more straight up the market.


sniff, sniff ... smells like a crash to me. Every market closed down. South America is trading now -- all down. They just closed the Peru market because of the servere drop.

Asia has another trading day before we open -- should be interesting to see what happens. All those poor suckers holding emerging market mutual funds must be taking gas about now.

dreamer wrote:
My choice is gold and silver shares and GDX calls as I find it easier to ride the Bull than play with Bears...short or long.


Personally, I think it is easier to make money in a bear market than a bull market. Those bulls are SO predictable ... they just keep buying at every sign of a suckers rally, until all their money is transferred into the bears' accounts.

I love me a bear market.
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