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ASX down how much
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Dunno - my crystal ball broke ages ago! One thing I do know is that the bundle of cash I was just about to invest in shares in our SMSF is staying exactly where it is now ... and for some time into the future, too, methinks!
Will hazard a guess - down 150 points.
What do you think, seech?
Cheers
LynnH
Will hazard a guess - down 150 points.
What do you think, seech?
Cheers
LynnH
Was trying to set up a poll .. Missed
I thinnk it will be over 5 % , hopefully less than 10 %
Another shock like this , even if they end up passing the bill is going to be a massive hit to confidence. We certainly won't be rushing into any big money spend at the moment .
Cliff
I thinnk it will be over 5 % , hopefully less than 10 %
Another shock like this , even if they end up passing the bill is going to be a massive hit to confidence. We certainly won't be rushing into any big money spend at the moment .
Cliff
We will go down by 310 and close up 20 points.
I'll throw my guess in at down 6-7% at COB today.
Whatever we close at, I just hope that some sort of recovery is just around the corner, but who knows.
Regards
Marty
No-one knows how far the market will plummet, although many many think that they do. But we are still in a bear market which has shown no signs of hitting the bottom.
I've been a little surprised to see some forumers talking about it being a good time to buy shares. My opinion is that this bull market is pretty much following basic Dow theory of three downward phases (nothing to do with Elliot wave). We appear to be entering the third phase which is known by some as the "distressed selling" phase. It should be an interesting next few weeks.
EC
I've been a little surprised to see some forumers talking about it being a good time to buy shares. My opinion is that this bull market is pretty much following basic Dow theory of three downward phases (nothing to do with Elliot wave). We appear to be entering the third phase which is known by some as the "distressed selling" phase. It should be an interesting next few weeks.
EC
EC, watching CNBC over the last few months, and I can't tell you how many of the so-called experts have continuously mentioned good time to buy. Stocks are cheap. Financials are cheap.
If people followed this advice, I suspect they would have choked on all the bargains by now.
boomer, Joe Public will stilll get screwed. if they don't approve the bailout on the resubmission later in the week, and it doesn't restore liquidity, there will be a domino effect where one bank after another becomes insolvent. public companies that become insolvent are unlikely to return any value to share holders because asset values will be miniscule cos no one willl be able to borrow to buy them. Cash really will be king if liquidity is not restored.
and then you want to think about the number of retirees who live off their bank share divs. and the super funds in shares. share values will plummet for several years possibly.
then think about the future fund, which is invested in shares.
It is hard to say how long it will take for this to stabilize. And a depression is not out of the question for the USA, and the world.
BTW, what happened with the washington mutual bank insolvency has just destroyed TRUST in the US share market and legal system. The entire capital structure of Washington Mutual was destroyed, by govt fiat, leaving no value for shareholders. How? All due process via the courts and bankruptcy process was denied. The assets were sold off to JP Morgon for a song. The shareholders will see none of the value of the company assets.
It is absolute theft.
and some wonder why I don't trust governments and their agencies.
and then you want to think about the number of retirees who live off their bank share divs. and the super funds in shares. share values will plummet for several years possibly.
then think about the future fund, which is invested in shares.
It is hard to say how long it will take for this to stabilize. And a depression is not out of the question for the USA, and the world.
BTW, what happened with the washington mutual bank insolvency has just destroyed TRUST in the US share market and legal system. The entire capital structure of Washington Mutual was destroyed, by govt fiat, leaving no value for shareholders. How? All due process via the courts and bankruptcy process was denied. The assets were sold off to JP Morgon for a song. The shareholders will see none of the value of the company assets.
It is absolute theft.
and some wonder why I don't trust governments and their agencies.
Man what a big dip on the roller coaster!
Who knows where the best buys are in the Aus market today?
Cheers
Simon
Who knows where the best buys are in the Aus market today?
Cheers
Simon
WW: Yes its bad. But today's market traders who have never seen a real bear market would never learn anything if Congress bought them a soft exit. And the consequences of the crash that would follow on from a further asset bubble are more scary than what is going on at the moment.
Its like bringing up a kid - sometimes you have to let them live with their consequences of their actions.
Economies are more resilient than people give credit for. Look at how the US has had an export boom over the past 18 months driven by the soft US dollar.
If a severe recession is what it takes to get the US dollar down and resources deployed from manufacturing CDOs into manufacturing combine harvesters for the export market for the coming agri boom - so be it.
Its like bringing up a kid - sometimes you have to let them live with their consequences of their actions.
Economies are more resilient than people give credit for. Look at how the US has had an export boom over the past 18 months driven by the soft US dollar.
If a severe recession is what it takes to get the US dollar down and resources deployed from manufacturing CDOs into manufacturing combine harvesters for the export market for the coming agri boom - so be it.
Why would you be looking for bargains when the market is still showing signs of falling? You know...."never catch a falling knife"
I have been saying for 6 months to stay out of the stock market. And years to stay out of the property market.
Similar to the property market actually, with a much shorter time frame.
And Letiha, you fluked the profit. Be careful, you probably wont be able to repeat it. I lost quite a bit of money years ago (when i started investing in shares) thinking i was smarter than the market.
I have been saying for 6 months to stay out of the stock market. And years to stay out of the property market.
Similar to the property market actually, with a much shorter time frame.
And Letiha, you fluked the profit. Be careful, you probably wont be able to repeat it. I lost quite a bit of money years ago (when i started investing in shares) thinking i was smarter than the market.
Paulson is an Investment Banker who has been "seconded" to the executive from Goldman Sachs. He is still "their man".
I was watching cable this morn while the bill was being rejected and a number of Congressmen were critical of him, or the "take or leave it" attitude, which did not give in to the pollies' concerns.
It seems impossible for these silvertails to think beyond their own immediate self interest.
Evand where do you suggest we invest our money if shares are bad and property is bad?????
I didn't fluke my profit, I brought when my shares were down, sold when they went up knowing they would come back down in the turbulence. If I buy today and it takes a while to go back up...well fine with me.
Why do you need to do anything with your money today? But if you must, why not precious metals? They are in a long term bull market, and it's much easier to profit in a bull than a bear.
I could name many stocks that this logic would have cost you plenty.
