Nikkei 225 BELOW !!! Dow Jones

[counter_violent]

Italian Stock Exchange has just been suspended. I wouldn't be surprised to see more Exchanges close if stocks continue down - just like they did for a few days after 9/11 and also in earlier years. The panic will be halted - no matter what measures have to be taken.

Fully agree with this.....I spoke with another trader in the night about this very topic.

 

[BSD]

LITTLE bounce in indices...

 

[new_trader]

Ftse down nearly 10%! Anyone fancy owning your own country? Iceland is going for a tenner.

I hear TESCO is going to make a takeover bid. Mums might shop at Iceland but they lose all the money they save! :cheesy:

 

[BSD]

Is Iceland also the name of a supermarket chain in the UK or what haha

 

[Paul71]

I hear TESCO is going to make a takeover bid. Mums might shop at Iceland but they lose all the money they save! :cheesy:

lol. Kerry Katona just filed for bankcruptsy (true).

 

[Paul71]

LITTLE bounce in indices...

one tick....?

 

[cryten]

wow never seen the ftse drop 100 points on open but then i have only been watching it since the start of the year. This all reminds me of last years fx market when I first went live and on GBP/JPY, quadrupeled my account in a week. It's all good for my system but I'm staying out as not yet enough experience with the "normal" ftse let alone this mayhem.

 

[Paul71]

Is Iceland also the name of a supermarket chain in the UK or what haha

Yes.

 

[counter_violent]

lol. Kerry Katona just filed for bankcruptsy (true).

and she won't bounce back...deep joke..after her op :whistling

 

[BSD]

Rekjavic has that christmas fair, doesn't it? I went and stayed in the red light district :whistling

haha

The UK has used anti terrorist laws on them to freeze assets, now that's fighting talk.

Read that a lot of Brits stowed their cash at some Icelandic banks eh, who is picking up that tab then, UK taxpayer ?

 

[MrGecko]

IMO the earliest sign of light at the end of the tunnel will come after New Year...

... the US still has to implement it's plan to take out all the dodgy MBS + CDO's - until then I can't see the Inter Bank markets loosening up credit until they know that alot of the sh!t has been taken out of the system - ditto the UK plan, it still has to make it's way onto the dealing floors. And of course most banks will be hoarding all the cash they can get their hands on to hold over Christmas (why do you think 3m LIBOR is still so high?) - and theres the US election, all of these Lehman (et al) positions to be unwinded, and so on and so on

... "normality" will return after Q4 earnings IMO, when we'll have a good old fashioned bear market.

 

[Paul71]

haha



Read that a lot of Brits stowed their cash at some Icelandic banks eh, who is picking up that tab then, UK taxpayer ?

Not sure. Who was that guy who lost a billion overnight? Was that anything to do with our Icelandic friends?

 

[cryten]

i wonder if the sun newspaper who agreed with MC Brown will notice the markets are still tanking yet short selling is banned

oh it's shot up 200 points now :whistling

 

[Paul71]

IMO the earliest sign of light at the end of the tunnel will come after New Year...

... the US still has to implement it's plan to take out all the dodgy MBS + CDO's - until then I can't see the Inter Bank markets loosening up credit until they know that alot of the sh!t has been taken out of the system - ditto the UK plan, it still has to make it's way onto the dealing floors. And of course most banks will be hoarding all the cash they can get their hands on to hold over Christmas (why do you think 3m LIBOR is still so high?) - and theres the US election, all of these Lehman (et al) positions to be unwinded, and so on and so on

... "normality" will return after Q4 earnings IMO, when we'll have a good old fashioned bear market.

Seems that way. Until the system has all these toxic assets flushed out, then it can start to recover.

 

[BSD]

Not sure. Who was that guy who lost a billion overnight? Was that anything to do with our Icelandic friends?

This guy here mate ?

Meet the English mega money mogul who lost 1 billion dollars

Wow, check this out:

Lost in Iceland: £1 billion from councils, charities and police | Business | The Guardian

 

[Paul71]

This guy here mate ?

Meet the English mega money mogul who lost 1 billion dollars

Wow, check this out:

Lost in Iceland: £1 billion from councils, charities and police | Business | The Guardian

I like that line..."it's never easy to see 1 billion evaporate..."


The councils are putting up rates and taxes to invest the money!!!! TW*TS! What the fcuk do councils know about investment, they only just get the bins emptied on time.

 

[BSD]

LOL, you're so right Paul !

Hey, we'll be talking about this day in ten years. History in the making, hmm.

 

[DaxDestroyer]

Nightmare...

I hear you guys about needing a cleansing effect and all, but what if this trickles down to the real economy...

1987 ?

1929 ???

It has begun already ... ask GM, Ford, Chrysler, GE, SAP ...

 

[BSD]

Made the bulk of his money from FX trading, Joseph Lewis did, now I remember reading about him, became a billionaire through trading.

Didn't he fund hotspotfx.

 

[BSD]

It has begun already ... ask GM, Ford, Chrysler, GE, SAP ...

Yes mate

Wonder if we'll stage a miraculous recovery...

One bit of light at the end of this particular tunnel for the entrepreneurially minded is that we will be seeing a LOT of bargains in bit, real estate, companies, etc