counter_violent
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Dow and FTSE weaker after Asia markets collapse...sorry correction...
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counter_violent
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I was going to send 10p to Gordon so he could phone a friend.
I've decided to up it to 20p so he can phone both his friends.
I've decided to up it to 20p so he can phone both his friends.
Pat494
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What they don't tell on the TV and papers is that the old western economies are as clapped out as General Motors, Ford etc etc. injecting capital won't save them. Govt's are pouring money into a "black hole". The markets keep telling politicians this but they are so arrogant they think much the same as King Canute.
Its wake up time for socialism as well as US "dog eat dog" capitalism.
Its wake up time for socialism as well as US "dog eat dog" capitalism.
Pat494
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GLOBAL MARKETS-Stocks fall, gold rises despite global rate cuts
NEW YORK, Oct 8 (Reuters) - Panic selling again swept global equity markets on Wednesday after a coordinated worldwide cut in interest rates failed to bolster the battered confidence of investors who jumped into gold and other safe-havens.
U.S. stocks were highly volatile, however, briefly turning higher in the early afternoon after falling more than 2 percent, after European shares sank to a near five-year closing low.
Investors at first had warmed to a one-half percentage point cut in interest rates by the U.S. Federal Reserve, the European Central Bank, the Bank of England and other key central banks around the world, the first coordinated move since the Sept. 11, 2001, attacks.
But confidence was short-lived, and the price of government debt, stocks and crude oil swung wildly. Short-dated euro zone government bonds rallied and gold held onto strong gains as investors fled to safe-havens.
The benchmark FTSEurofirst 300 index of top European shares, after falling nearly 8 percent in early trade, recouped most of its losses after the rate cuts only to slide anew.
Keeping investors on edge were credit markets, which remained tight despite the coordinated effort to pry them open.
'Global central banks took on the rate cuts because they wanted to unfreeze the credit market, but credit spreads are still widening,' said Brian Dolan, chief currency strategist, at Forex.com in Bedminster, New Jersey.
NEW YORK, Oct 8 (Reuters) - Panic selling again swept global equity markets on Wednesday after a coordinated worldwide cut in interest rates failed to bolster the battered confidence of investors who jumped into gold and other safe-havens.
U.S. stocks were highly volatile, however, briefly turning higher in the early afternoon after falling more than 2 percent, after European shares sank to a near five-year closing low.
Investors at first had warmed to a one-half percentage point cut in interest rates by the U.S. Federal Reserve, the European Central Bank, the Bank of England and other key central banks around the world, the first coordinated move since the Sept. 11, 2001, attacks.
But confidence was short-lived, and the price of government debt, stocks and crude oil swung wildly. Short-dated euro zone government bonds rallied and gold held onto strong gains as investors fled to safe-havens.
The benchmark FTSEurofirst 300 index of top European shares, after falling nearly 8 percent in early trade, recouped most of its losses after the rate cuts only to slide anew.
Keeping investors on edge were credit markets, which remained tight despite the coordinated effort to pry them open.
'Global central banks took on the rate cuts because they wanted to unfreeze the credit market, but credit spreads are still widening,' said Brian Dolan, chief currency strategist, at Forex.com in Bedminster, New Jersey.
K
kenobi
seems like a short term bottom (2-3 months ?? ) may form this week........thena retest of the lows happens......
think i may look into a long term position then 😴
think i may look into a long term position then 😴
Mr.J-Arthur
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Game over guys, this market is in known territories...we could very well crack new low/bottom of 9122 on the dow. Market internals (advance/decline lines S&R) will help you catch these big intra-day moves.
Good trading today...range locked and lots of movement. Anyone else use internals to pull good trades?
Good trading today...range locked and lots of movement. Anyone else use internals to pull good trades?
Pat494
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Financial NewsMarket NewsIndustry NewsComment & AnalysisMoney WeeklyHot topics:Market MoversNewspaper TipsDirector Dealing TradesSector MoversGet share price quote UK Ireland All Markets USA Australia Austria Belgium Canada Denmark France Germany Italy Netherlands Norway Portugal Spain Sweden Switzerland | Search Finance US Market News
Thursday October 9, 09:11 AM
GLOBAL MARKETS-Some calm returns after steep losses, rate cuts
LONDON, Oct 9 (Reuters) - Many stock markets rose strongly on Thursday and winners during the recent turmoil, such as the yen and gold, slipped as at least temporary calm returned to markets a day after coordinated global interest rate cuts. (Advertisement)
Seemed to suit my system yesterday or else I am improving😎
European shares were 2.3 percent higher. Emerging market shares as measured by MSCI were up 2.6 percent, primarily reflecting gains in Asia.
Demand for government bonds, gold and low-yielding currencies -- all recent beneficiaries of investors searching for relative safety -- fell.
The direction of the moves was the mirror of what happened on Wednesday and earlier in the week, but nowhere near matched the degree.
MSCI's main world stock index, for example, was up 1 percent. But it lost 3.9 percent on Wednesday, 3.0 percent on Tuesday and 6.1 percent on Monday.
Thursday's relative calm followed an unprecedented display of international coordination on Wednesday when the U.S. Federal Reserve and central banks from Europe, Canada and China executed emergency rate cuts in the face of amid plunging global equity markets and the worst financial crisis in some 80 years.
'Markets are not turning positive, they are recovering from heavy losses that we saw earlier this week. The sentiment has not really improved,' said Rik Zwaneveld, trader at AFS Brokers, in Amsterdam.
'The rate cuts are a good step in the right direction to stop the bleeding, but this won't be enough.'
Echoing this, Japan's Nikkei (news) closed down, finishing 0.5 percent lower in a choppy session and down for a sixth straight day for its lowest close since June 2003.
Wall Street also closed lower overnight, although early indications from stocks index futures suggested there would be gains on Thursday.
Thursday October 9, 09:11 AM
GLOBAL MARKETS-Some calm returns after steep losses, rate cuts
LONDON, Oct 9 (Reuters) - Many stock markets rose strongly on Thursday and winners during the recent turmoil, such as the yen and gold, slipped as at least temporary calm returned to markets a day after coordinated global interest rate cuts. (Advertisement)
Seemed to suit my system yesterday or else I am improving😎
European shares were 2.3 percent higher. Emerging market shares as measured by MSCI were up 2.6 percent, primarily reflecting gains in Asia.
Demand for government bonds, gold and low-yielding currencies -- all recent beneficiaries of investors searching for relative safety -- fell.
The direction of the moves was the mirror of what happened on Wednesday and earlier in the week, but nowhere near matched the degree.
MSCI's main world stock index, for example, was up 1 percent. But it lost 3.9 percent on Wednesday, 3.0 percent on Tuesday and 6.1 percent on Monday.
Thursday's relative calm followed an unprecedented display of international coordination on Wednesday when the U.S. Federal Reserve and central banks from Europe, Canada and China executed emergency rate cuts in the face of amid plunging global equity markets and the worst financial crisis in some 80 years.
'Markets are not turning positive, they are recovering from heavy losses that we saw earlier this week. The sentiment has not really improved,' said Rik Zwaneveld, trader at AFS Brokers, in Amsterdam.
'The rate cuts are a good step in the right direction to stop the bleeding, but this won't be enough.'
Echoing this, Japan's Nikkei (news) closed down, finishing 0.5 percent lower in a choppy session and down for a sixth straight day for its lowest close since June 2003.
Wall Street also closed lower overnight, although early indications from stocks index futures suggested there would be gains on Thursday.
Pat494
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Financial NewsMarket NewsIndustry NewsComment & AnalysisMoney WeeklyHot topics:Market MoversNewspaper TipsDirector Dealing TradesSector MoversGet share price quote UK Ireland All Markets USA Australia Austria Belgium Canada Denmark France Germany Italy Netherlands Norway Portugal Spain Sweden Switzerland | Search Finance US Market News
Thursday October 9, 09:11 AM
GLOBAL MARKETS-Some calm returns after steep losses, rate cuts
LONDON, Oct 9 (Reuters) - Many stock markets rose strongly on Thursday and winners during the recent turmoil, such as the yen and gold, slipped as at least temporary calm returned to markets a day after coordinated global interest rate cuts. (Advertisement)
European shares were 2.3 percent higher. Emerging market shares as measured by MSCI were up 2.6 percent, primarily reflecting gains in Asia.
Demand for government bonds, gold and low-yielding currencies -- all recent beneficiaries of investors searching for relative safety -- fell.
The direction of the moves was the mirror of what happened on Wednesday and earlier in the week, but nowhere near matched the degree.
MSCI's main world stock index, for example, was up 1 percent. But it lost 3.9 percent on Wednesday, 3.0 percent on Tuesday and 6.1 percent on Monday.
Thursday's relative calm followed an unprecedented display of international coordination on Wednesday when the U.S. Federal Reserve and central banks from Europe, Canada and China executed emergency rate cuts in the face of amid plunging global equity markets and the worst financial crisis in some 80 years.
'Markets are not turning positive, they are recovering from heavy losses that we saw earlier this week. The sentiment has not really improved,' said Rik Zwaneveld, trader at AFS Brokers, in Amsterdam.
'The rate cuts are a good step in the right direction to stop the bleeding, but this won't be enough.'
Echoing this, Japan's Nikkei (news) closed down, finishing 0.5 percent lower in a choppy session and down for a sixth straight day for its lowest close since June 2003.
Wall Street also closed lower overnight, although early indications from stocks index futures suggested there would be gains on Thursday.
Seemed to suit my system yesterday or else I am improving😎
Thursday October 9, 09:11 AM
GLOBAL MARKETS-Some calm returns after steep losses, rate cuts
LONDON, Oct 9 (Reuters) - Many stock markets rose strongly on Thursday and winners during the recent turmoil, such as the yen and gold, slipped as at least temporary calm returned to markets a day after coordinated global interest rate cuts. (Advertisement)
European shares were 2.3 percent higher. Emerging market shares as measured by MSCI were up 2.6 percent, primarily reflecting gains in Asia.
Demand for government bonds, gold and low-yielding currencies -- all recent beneficiaries of investors searching for relative safety -- fell.
The direction of the moves was the mirror of what happened on Wednesday and earlier in the week, but nowhere near matched the degree.
MSCI's main world stock index, for example, was up 1 percent. But it lost 3.9 percent on Wednesday, 3.0 percent on Tuesday and 6.1 percent on Monday.
Thursday's relative calm followed an unprecedented display of international coordination on Wednesday when the U.S. Federal Reserve and central banks from Europe, Canada and China executed emergency rate cuts in the face of amid plunging global equity markets and the worst financial crisis in some 80 years.
'Markets are not turning positive, they are recovering from heavy losses that we saw earlier this week. The sentiment has not really improved,' said Rik Zwaneveld, trader at AFS Brokers, in Amsterdam.
'The rate cuts are a good step in the right direction to stop the bleeding, but this won't be enough.'
Echoing this, Japan's Nikkei (news) closed down, finishing 0.5 percent lower in a choppy session and down for a sixth straight day for its lowest close since June 2003.
Wall Street also closed lower overnight, although early indications from stocks index futures suggested there would be gains on Thursday.
Seemed to suit my system yesterday or else I am improving😎
Atilla
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I'm here Pat. Beginning to pick up good vibes. Liked Mr Browns umpteen prong attack on the markets. 0.5% suits me.
I've always said and continue to re-iterate the only solution to budget defecits and excess spending is;
1. rate cuts to stimulate industrial investment and growth
2. tax increases to pay for the debt and bear pressure on inflation.
Finally seeing the effects.
I went long on Barclays at 273 only to see it fall to 240... :-0 Still contemplating buying actual shares in them with a view to holding longer term.
Otherwise I'm bullish on FTSE and the DOW.
I reckon markets milking it. They pencil in everything else in the future and decide to dilly dally with 1 trillion bn injection and 0.5% cut in rates from 7 big players.
I should qualify I'm more optimistic on the FTSE than the DOW as I feel we still have excesses in US banking and defecits which need to be addressed.
Going out to dinner tonight so not likely to trade. I'm doing my bit for the recovery... :cheesy:
sorry pat i think you are talking to yourself 1 all the guys who posted trades a month ago with big smilies have gone gone gone ! anyway you were right about down. the 2002/2003 low was 800 on the s&p. watch for major g7 announcement over weekend because credit markets are still tight and until that changes we go down.
all my levels have been broken, 8130 is the next one then the 2003 lows and 2002 lows. we will hold 8670 on the daily close today. Tomorrow or Monday has a chance of a low still, but you need to be brave to buy.
counter_violent
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Or stupid !
Understanding phase of market is paramount....when price moves occur that are outside of normal up / down normalised ranges .....you gotta listen...and when these same moves occur ahead of normalised price and time constaints....then you have to be a lunatic to play the opposite direction.....I can't make it any clearer.
7,400 ....it doesn't seem so far away after today does it .
Just be careful out there people.....it's hellish.
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