It really is quite bad isn't it?
Discussion
This financial malarky thing.
I'm no expert but even I can see that things are not goign to well at all are they?
Just some quotes from the BBC this morning....
The FTSE 100 share index plunged 9.8% to 3887 points, the first time it has fallen below 4,000 points in five years.
"Selling is unstoppable in New York and Tokyo," said Yutaka Miura, senior strategist at Shinko Securities in Tokyo."
At the end of trading on Friday, Tokyo shares had plunged 24% during the week - double their weekly fall during the 1987 market crash.
In Indonesia, plans to re-open the stock market were suspended in order to prevent what the president of the exchange called "deeper panic". Trading was halted for two days earlier this week.
In Japan as the Nikkei index slumped in its biggest one-day fall since the 1987 stock market crash,
In Russia, regulators suspended stock market trading indefinitely, citing excessive volatility
"We're way beyond fundamentals," said Chris Orndorff, head of equity strategy at Payden & Rygel, in Los Angeles.
"This is just pure panic, that's all it is."
There is no domestic solution to a crisis like this one," said Dominique Strauss-Kahn - head of the IMF.
From this i get the feeling its getting worse?
I'm no expert but even I can see that things are not goign to well at all are they?
Just some quotes from the BBC this morning....
The FTSE 100 share index plunged 9.8% to 3887 points, the first time it has fallen below 4,000 points in five years.
"Selling is unstoppable in New York and Tokyo," said Yutaka Miura, senior strategist at Shinko Securities in Tokyo."
At the end of trading on Friday, Tokyo shares had plunged 24% during the week - double their weekly fall during the 1987 market crash.
In Indonesia, plans to re-open the stock market were suspended in order to prevent what the president of the exchange called "deeper panic". Trading was halted for two days earlier this week.
In Japan as the Nikkei index slumped in its biggest one-day fall since the 1987 stock market crash,
In Russia, regulators suspended stock market trading indefinitely, citing excessive volatility
"We're way beyond fundamentals," said Chris Orndorff, head of equity strategy at Payden & Rygel, in Los Angeles.
"This is just pure panic, that's all it is."
There is no domestic solution to a crisis like this one," said Dominique Strauss-Kahn - head of the IMF.
From this i get the feeling its getting worse?
NoelWatson said:
Snoggledog said:
Being a thick numpty, what would happen if the FTSE suspended trading?
We could nip down to Dirty Dicks, have a quick beer and be back in time for the openTold ya i woz fik
I think one idea would be to suspend trading. Tell everyone in the markets to go to the pub and get drunk over the whole weekend. Calm down a bit.
Let the policitians and central banks do some re-arranging of the deck chairs.
Then everyone comes back on Monday with a hangover and a calmer perspective.
Let the policitians and central banks do some re-arranging of the deck chairs.
Then everyone comes back on Monday with a hangover and a calmer perspective.
I imagine the Lehman's CDS settlement issue is really spooking the market... no-one knows for certain if the insurers are going to be able to cough up.
This isn't due until next Friday.
Freddie and Fannie's was settled last week, some $500bn worth. Lehman's is $400bn.
I guess the main worry is the US side of the bail-out simply isn't large enough.
As for our banks, I imagine some of these could well be exposed if the insurers don't pay up.
This isn't due until next Friday.
Freddie and Fannie's was settled last week, some $500bn worth. Lehman's is $400bn.
I guess the main worry is the US side of the bail-out simply isn't large enough.
As for our banks, I imagine some of these could well be exposed if the insurers don't pay up.
It is becoming hysteria - just as in the dot com boom when people were ignoring fundamentals (earnings, dividend yield etc) and buying on the basis that the only way was up, people are selling everything on the basis things can only go down.
I say ignore the sheep and go the other way as most companies (banks excepted) are still solid and now represent great value. Things have not turned yet, but there is massive value to be had in this stock clearance and the rebound when it comes will offer rich pickings.
I say ignore the sheep and go the other way as most companies (banks excepted) are still solid and now represent great value. Things have not turned yet, but there is massive value to be had in this stock clearance and the rebound when it comes will offer rich pickings.
Biggles111 said:
It is becoming hysteria - just as in the dot com boom when people were ignoring fundamentals (earnings, dividend yield etc) and buying on the basis that the only way was up, people are selling everything on the basis things can only go down.
I say ignore the sheep and go the other way as most companies (banks excepted) are still solid and now represent great value. Things have not turned yet, but there is massive value to be had in this stock clearance and the rebound when it comes will offer rich pickings.
what do you mean 'becoming' it's been nothing to do with fundamentals for ages.I say ignore the sheep and go the other way as most companies (banks excepted) are still solid and now represent great value. Things have not turned yet, but there is massive value to be had in this stock clearance and the rebound when it comes will offer rich pickings.
215cu said:
I imagine the Lehman's CDS settlement issue is really spooking the market... no-one knows for certain if the insurers are going to be able to cough up.
This isn't due until next Friday.
Freddie and Fannie's was settled last week, some $500bn worth. Lehman's is $400bn.
I guess the main worry is the US side of the bail-out simply isn't large enough.
As for our banks, I imagine some of these could well be exposed if the insurers don't pay up.
Auction today. This isn't due until next Friday.
Freddie and Fannie's was settled last week, some $500bn worth. Lehman's is $400bn.
I guess the main worry is the US side of the bail-out simply isn't large enough.
As for our banks, I imagine some of these could well be exposed if the insurers don't pay up.
"I imagine some of these could well be exposed if the insurers don't pay up."
Mot sure of the logic here.
Biggles111 said:
It is becoming hysteria - just as in the dot com boom when people were ignoring fundamentals (earnings, dividend yield etc) and buying on the basis that the only way was up, people are selling everything on the basis things can only go down.
I say ignore the sheep and go the other way as most companies (banks excepted) are still solid and now represent great value. Things have not turned yet, but there is massive value to be had in this stock clearance and the rebound when it comes will offer rich pickings.
I say ignore the sheep and go the other way as most companies (banks excepted) are still solid and now represent great value. Things have not turned yet, but there is massive value to be had in this stock clearance and the rebound when it comes will offer rich pickings.
Personally, I thought the start of the week signalled the capitulation and I'm surprised that this morning has started as such.
The whole CDS thing spooks me admittedly, there is still plenty that can go wrong, however, there will become a point where these shares will look terribly undervalued and that time is getting very close.
215cu said:
The whole CDS thing spooks me admittedly, there is still plenty that can go wrong, however, there will become a point where these shares will look terribly undervalued and that time is getting very close.
AIG fell off a cliff yesterday.Today they're dumping assets and borrowing more and more.
If it does go, I suspect it will negate entirely the UK/Fed bailouts.
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