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Bad Day For The Stock Market Ahead...  
User currently offlineJaws707 From United States of America, joined Aug 2001, 708 posts, RR: 1
Posted (7 years 1 month 3 weeks 10 hours ago) and read 2357 times:

WOW, the Chineese stock exchange fell almost 9% Thats insane, The US market is looking really shacky. Hopefully it doesnt turn into a bloodbath.

50 replies: All unread, showing first 25:
 
User currently offlineTedTAce From , joined Dec 1969, posts, RR:
Reply 1, posted (7 years 1 month 3 weeks 10 hours ago) and read 2335 times:

The Joys of Greenspan saying the "R" word.

User currently offlineANCFlyer From , joined Dec 1969, posts, RR:
Reply 2, posted (7 years 1 month 3 weeks 10 hours ago) and read 2326 times:

Quoting TedTAce (Reply 1):
The Joys of Greenspan saying the "R" word.

Hey, TedT, Greenspan is long retired you know . . . .

. . . . .

The ripples in the Chinese market are already being felt here. The market here was down over 150 points yesterday, and I suspect it'll drop more today.

Fortunately, there's not a chance of another "Black Monday" as there are automatic stop-gaps in place . . . at least that's what we're told. I guess we'll have to see what happens.

Regardless, as great as the market has been since the first of the year, it's due a correction anyway.


User currently offlinePelican From Germany, joined Apr 2004, 2531 posts, RR: 8
Reply 3, posted (7 years 1 month 3 weeks 8 hours ago) and read 2290 times:

Not long and I start to worry, too. The DAX lost already 2,77 per cent. A slight correction down would be healthy but it could also start a stronger trend.

pelican


User currently offlineTedTAce From , joined Dec 1969, posts, RR:
Reply 4, posted (7 years 1 month 3 weeks 8 hours ago) and read 2286 times:

Quoting ANCFlyer (Reply 2):
Hey, TedT, Greenspan is long retired you know . . . .

And?

If you think just because he doesn't run the fed anymore, he's irrelevant; I have some slightly moist land for sale in S. Florida.


User currently offlineAGM100 From United States of America, joined Dec 2003, 5407 posts, RR: 16
Reply 5, posted (7 years 1 month 3 weeks 8 hours ago) and read 2275 times:

Yep, and its a good time to buy ! Not huge , but buy low people !

Or wait till it goes back up and buy high ... thanks



You dig the hole .. I fill the hole . 100% employment !
User currently offlinePelican From Germany, joined Apr 2004, 2531 posts, RR: 8
Reply 6, posted (7 years 1 month 3 weeks 8 hours ago) and read 2271 times:

Quoting AGM100 (Reply 5):
Yep, and its a good time to buy ! Not huge , but buy low people !

Of course it's a good time to buy - when the bottom is reached... Until then tough luck for those who haven't sold.

pelican


User currently offlineAGM100 From United States of America, joined Dec 2003, 5407 posts, RR: 16
Reply 7, posted (7 years 1 month 3 weeks 8 hours ago) and read 2265 times:

Quoting Pelican (Reply 6):
Until then tough luck for those who haven't sold.

Yes , I have gotten wipped on a few myself... but thats gambleing.... I mean stock play..



You dig the hole .. I fill the hole . 100% employment !
User currently offlineBeaucaire From Syria, joined Sep 2003, 5252 posts, RR: 25
Reply 8, posted (7 years 1 month 3 weeks 5 hours ago) and read 2212 times:

as long as you don't sell you don't lose...
We'll have to watch the next three to five days if it is a longer-term movement or just a psychological hick-up..
But as usual,great time to re-enforce valid companies at great bargain prices.



Please respect animals - don't eat them...
User currently offlineAeroWesty From United States of America, joined Oct 2004, 20322 posts, RR: 63
Reply 9, posted (7 years 1 month 3 weeks 4 hours ago) and read 2188 times:

Well that was an interesting day. About an hour before the close, the Dow dropped 200 points in literally 30 seconds, but made up around 100-150 points of that in the last hour. China has to float their currency, this is just silly. Limits kicked in on the Shanghai, and when people couldn't sell what they wanted to sell, they sold what they could sell.


International Homo of Mystery
User currently offlineAsstChiefMark From , joined Dec 1969, posts, RR:
Reply 10, posted (7 years 1 month 3 weeks 4 hours ago) and read 2184 times:

Tomorrow is going to be worse. There are loads of people who wanted to sell and couldn't. They'll do it right away in the morning and the fallout will last all day.

Mark


User currently offlineBeaucaire From Syria, joined Sep 2003, 5252 posts, RR: 25
Reply 11, posted (7 years 1 month 3 weeks 4 hours ago) and read 2166 times:

Investors that don't have the nerve to sustain some thunderstorms on the parquet should not invest in the stock-market.
There will be massive purchases right after the drop -top-100 companie's shares will become extremely affordable.
I wish I had liquidity to re-inforce where no-brainers opprotunities will come up.
There is no reason why companies like Mital -Arcelor steel will not recover within a short timeframe.



Please respect animals - don't eat them...
User currently offlineAeroWesty From United States of America, joined Oct 2004, 20322 posts, RR: 63
Reply 12, posted (7 years 1 month 3 weeks 4 hours ago) and read 2160 times:

Quoting Beaucaire (Reply 11):
There is no reason why companies like Mital -Arcelor steel will not recover within a short timeframe.

That's what they said in 1929, too.  Wink

It all depends upon what this is. Is it a blip on the radar, or the harbinger of things to come. The only sure thing is that there are no sure things.



International Homo of Mystery
User currently offlineJaws707 From United States of America, joined Aug 2001, 708 posts, RR: 1
Reply 13, posted (7 years 1 month 3 weeks 3 hours ago) and read 2160 times:

This is the one thing that drives me nuts about the market, is just how fast these things happen. I'm a fairly active trader, but I got blindsided today. I was expecting the market to go down, but not quite like this. Let me give you an example of how fast the market can act.
I own JWN (Nordstrom) Up until Fri the stock was amazing, making a slow and steady move to the upside. Fri it dropped more then 2%, so I knew something was up. Turns out they are reporting earnings Mon after the close, well Mon it dropped another 2.5% or so. Earnings were disappointing (1st time in forever with Nordstom) and the stock got leveled today, taking me from a nice gain to huge loss. Yeah, I'm a little upset.


User currently offlineYellowstone From United States of America, joined Aug 2006, 3071 posts, RR: 4
Reply 14, posted (7 years 1 month 3 weeks 3 hours ago) and read 2154 times:

Quoting Beaucaire (Reply 11):
Investors that don't have the nerve to sustain some thunderstorms on the parquet should not invest in the stock-market.
There will be massive purchases right after the drop -top-100 companie's shares will become extremely affordable.
I wish I had liquidity to re-inforce where no-brainers opprotunities will come up.
There is no reason why companies like Mital -Arcelor steel will not recover within a short timeframe.

Amen to that. The stock market has to be one of the few markets in the world where people get paranoid about the stuff they want to buy getting cheaper. One of the top rules in the stock market: Don't Panic!



Hydrogen is an odorless, colorless gas which, given enough time, turns into people.
User currently offlineAeroWesty From United States of America, joined Oct 2004, 20322 posts, RR: 63
Reply 15, posted (7 years 1 month 3 weeks 3 hours ago) and read 2144 times:

Quoting Jaws707 (Reply 13):
Earnings were disappointing (1st time in forever with Nordstom) and the stock got leveled today, taking me from a nice gain to huge loss. Yeah, I'm a little upset.

That's why Sell Stop orders are useful. It's better to walk away with a little profit, instead of a loss.

"Bears and bulls prosper, but pigs are led to slaughter."  silly 



International Homo of Mystery
User currently offlineBeaucaire From Syria, joined Sep 2003, 5252 posts, RR: 25
Reply 16, posted (7 years 1 month 3 weeks 3 hours ago) and read 2143 times:

I bought airline-stocks but will of courrse not sell in panic but wait for the recovery-no reason why all of a sudden people would stop flying.
Same with comodity shares (steel,food,infrastructure buiding..) -just take it as one of these moments where you have to sit quiet and wait silently until the recovery comes.Worst thing is to sell when other sell in panic !



Please respect animals - don't eat them...
User currently offlineKalakaua From United States of America, joined Jan 2004, 1516 posts, RR: 5
Reply 17, posted (7 years 1 month 3 weeks 3 hours ago) and read 2133 times:

I love it! I'm buying at the end of the week...


Gravity explains the motions of the planets, but it cannot explain who set the planets in motion.
User currently offlineAeroWesty From United States of America, joined Oct 2004, 20322 posts, RR: 63
Reply 18, posted (7 years 1 month 3 weeks 3 hours ago) and read 2132 times:

Quoting Beaucaire (Reply 16):
Worst thing is to sell when other sell in panic !

What? You can also get out while the gettin's good, then buy it back cheaper when everyone else is done panicking. The only worst thing is not having a strategy.



International Homo of Mystery
User currently offlineAeroWesty From United States of America, joined Oct 2004, 20322 posts, RR: 63
Reply 19, posted (7 years 1 month 3 weeks 3 hours ago) and read 2111 times:

Wow, the 200-point decline at 3pm Eastern was due to the Dow computers going to a backup system, since their main computers couldn't maintain the volume, and it was reporting right at the time a major derivatives trade crossed. The results of the previous hour's trading all got reported at once.


International Homo of Mystery
User currently offlinePSA53 From United States of America, joined Aug 2003, 3049 posts, RR: 4
Reply 20, posted (7 years 1 month 3 weeks 3 hours ago) and read 2088 times:

Quoting AeroWesty (Reply 19):
Wow, the 200-point decline at 3pm Eastern was due to the Dow computers going to a backup system, since their main computers couldn't maintain the volume, and it was reporting right at the time a major derivatives trade crossed. The results of the previous hour's trading all got reported at once.

I was caught in that chaos.I was on the Charles Schwab website and saw a lot of stocks start taking
a sharp nose dove.I sold RSH at 3:05EST but there was no acknowledgement of the trade until
3:16EST.Within that time frame,the website was inoperative and was pulling my hair out because
the shares were plummeting.I called CS,and they told me about the sell off and the Wall Street mess.

The DOW went -416.But I overall,thanks to RSH stock, I did very well


.



Tuesday's Off! Do not disturb.
User currently offlineAeroWesty From United States of America, joined Oct 2004, 20322 posts, RR: 63
Reply 21, posted (7 years 1 month 3 weeks 2 hours ago) and read 2083 times:

Quoting PSA53 (Reply 20):
I called CS,and they told me about the sell off and the Wall Street mess.

I'd look at my trade confirmation, and if they crossed it themselves and there was a better price at the time you entered your trade, assuming it was a market order, I'd ask for them to credit the price when you entered the order.



International Homo of Mystery
User currently offlinePSA53 From United States of America, joined Aug 2003, 3049 posts, RR: 4
Reply 22, posted (7 years 1 month 3 weeks 2 hours ago) and read 2076 times:

Quoting AeroWesty (Reply 21):
I'd look at my trade confirmation, and if they crossed it themselves and there was a better price at the time you entered your trade, assuming it was a market order, I'd ask for them to credit the price when you entered the order.

Yes,and the CS people are looking at it and said I might get the credit.I sold at 25.10 at 3:06.But the
acknowlegdement@ 3:16 is at 24.89.We'll see what happens.



Tuesday's Off! Do not disturb.
User currently offlineAeroWesty From United States of America, joined Oct 2004, 20322 posts, RR: 63
Reply 23, posted (7 years 1 month 3 weeks 2 hours ago) and read 2045 times:

Quoting PSA53 (Reply 22):
We'll see what happens.

Okay, if they're a market maker and/or did it as a principle trade (bought the stock from you themselves without a public customer on the other side), they owe you what their system showed you as the market price. That's where you'll need the paper copy of your trade confirmation to back you up, if they refuse it. Good luck with it!



International Homo of Mystery
User currently offlineZone1 From United States of America, joined Jan 2005, 1034 posts, RR: 7
Reply 24, posted (7 years 1 month 3 weeks 2 hours ago) and read 2028 times:

I was really expecting this drop. Things were too high. I was thinking about buying Nasdaq 100 put options for the last week but never really did a directional trade with options before. Oh well! I did sell all of my Goldman Sachs yesterday morning. It's down $15 from when I sold it!

Right now all eyes are on the China open in a couple of hours. More selling could ensue because they closed the market early yesterday because it hit their circuit breakers.



/// U N I T E D
25 Post contains images MattRB : Riding this one out. The trend on all of my holdings, when looking at the big picture, is upwards. No need to panic and selloff. If you've got good,
26 AA787823 : Why did you not post this last week? I could have moved my money. Thanks alot!
27 AeroWesty : For anyone waiting and watching, Shanghai opens at 8:30pm Eastern/5:30pm Pacific.
28 Post contains images AAce24 : Martha Stewart? Is that you?
29 QANTAS077 : got hit in the first hour of trading in Sydney, down 4% in current trading, mate of mine has been tuned down around $34000, mine is substantially more
30 N231YE : I wonder what exactly happened that caused investors/brokers/tradesmen etc. to take on a pessimistic feeling? Or is it the bubble beginning to burst..
31 AeroWesty : The news in the story below is generally accepted for the cause of the decline in the Chinese markets, causing a rippling effect around the globe:
32 QANTAS077 : no bursting bubble in China...more to do with speculators & there is no tangible evidence of a slow down in the chinese economy. if the market dipped
33 N231YE : Thanks for that, that cleared things up...
34 Post contains links and images AeroWesty : My pleasure. If anyone's looking for a way to track the Shanghai Composite Index, and doesn't have access to real-time quotes, this is a nice page, w
35 Zone1 : Hang Seng just opened down 3.8%. Looks like the fun will continue tomorrow. Is it too late to buy QID?
36 PSA53 : Thanks for the info.Nice to monitor. Everybody's talking about correction in the market since last week.It could be the China effect.Maybe not.Rememb
37 Zone1 : I feel that the markets were too frothy around the world. They pretty much went straight up since the fall, and China was the worst. A 10% drop in Ch
38 Post contains images AsstChiefMark : Stay away from the Dark Side. Avoid feeding the machine of treason. Mark
39 CaptOveur : I wouldn't say long retired.. But he is retired. He made a speech the other night forecasting a recession.. He kinda ran the Fed for the better part
40 KLM685 : The effects were felt VERY deeply down here as well. Mexico City's stock exchange fell in it's lowest since the year 2000. Which is a lot of time now,
41 AeroWesty : It looks like the Shanghai closed for about 90 minutes midday today (I don't know offhand if that's normal or not), and when it reopened, it began to
42 Boeing7E7 : Japan is down about 500 right now.
43 Zone1 : Dow is up nearly 100 points right now. I wouldn't say we are out of the woods yet, but it's a nice start.
44 AeroWesty : I'd say it's due to two factors. Shanghai was up 4% last night, and there's short-covering spurring buying activity. The market's only been open for
45 Prebennorholm : 1. An old Chinese businessman sneezed. 2. A young US housewife asked her even younger stockbroker husband: "Will ill Chinese businessmen continue to
46 Post contains links PSA53 : The answer is no.Charles Schwab said since it was a Wall Street glitch,their not responsible. How about a little insider trading?This link broke out
47 Post contains links Zone1 : Asia is selling off again today. http://finance.yahoo.com/intlindices?e=asia
48 Beaucaire : CAC 40 - 1,9 % DAX -1,7 % Another shitty day - but ,as said many times before- if you don't sell....
49 PSA53 : Iceberg! Dead Ahead! At 11:10 PST,the Dow is -207.00. Ouch.
50 Baroque : Don't worry, engines are full ahead!
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